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Report Overview

The global makeup market was valued at USD 39.45 Billion in 2024. The market is further projected to grow at a CAGR of 4.80% between 2025 and 2034, reaching a value of USD 63.05 Billion by 2034.

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

  • As per makeup industry analysis, American women spend an average of USD 3,756 per year on beauty products and services, while American men spend nearly as much at USD 2,928 per year.

  • The use of face cleansers and other skincare products is on the rise, with around 2 in 5 US consumers using cleanser products.

  • The global beauty market grew by over 8% in 2023, reaching an estimated value of more than 270 billion euros.

  • L'Oréal remains the number one Beauty Products Company in the world, pulling off over USD 40 billion in sales worldwide in 2023.

Compound Annual Growth Rate

Value in USD Billion

4.8%

2025-2034


Makeup Market Outlook

*this image is indicative*

Global Makeup Market Report Summary Description Value
Base Year USD Billion 2024
Historical Period USD Billion 2018-2024
Forecast Period USD Billion 2025-2034
Market Size 2024 USD Billion 39.45
Market Size 2034 USD Billion 63.05
CAGR 2018-2024 Percentage XX%
CAGR 2025-2034 Percentage 4.80%
CAGR 2025-2034 - Market by Region Asia Pacific 5.5%
CAGR 2025-2034 - Market by Country India 6.4%
CAGR 2025-2034 - Market by Country China 5.9%
CAGR 2025-2034 - Market by Product Type Powders 5.4%
CAGR 2025-2034 - Market by Distribution Channel Online Retail Stores 8.2%
Market Share by Country 2023 India 3.8%

Makeup Market Growth

Crucial drivers of makeup demand include growing interest in anti-ageing products and rising sales through e-commerce. Investments in research and development for companies in the industry will offer customized solutions for the consumer. An example is Sephora, which launched "Color IQ," a personal makeup service involving technology that helps match users with their perfect foundation shade based on skin tone.

Furthermore, the global makeup market demand growth has been growing continuously with the increasing awareness of natural and organic products. With a greater sense of consciousness towards ingredient transparency and sustainability, brands like Burt's Bees and RMS Beauty spearhead the venture in creating lines of products for natural and organic makeup: foundation, concealers, lipsticks, eyeshadows, and all other beauty products that can be classified under the cleaner spectrum of makeup.

Moreover, there is a focus on inclusivity and diversity in the cosmetics industry and players are investing in the development of products that cater to a wide range of skin tones and types, as well as products that are gender-neutral and accessible to people with disabilities. For example, the cosmetics company Fenty Beauty has launched a line of makeup products that cater to a wide range of skin tones, from light to deep.

Among makeup products, loose powders, pressed powders, and mineral powders aid in boosting makeup market revenue due to the increasing demand for long-lasting and lightweight makeup products. L'Oréal Paris offers a range of powder products, including True Match Super-Blendable Powder and Infallible Pro-Matte Powder. Gel-based makeup products, such as gel eyeliners, lip gels, and blush gels are also gaining traction due to their versatility and ease of use. Maybelline New York offers a range of gel-based makeup products, including the SuperStay Matte Ink Liquid Lipstick.

Key Trends and Recent Developments

Makeup Industry Segmentation

Global Makeup Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type

  • Powders
  • Gels 
  • Lotions 
  • Others

Market Breakup by Application Area

  • Face
  • Lips
  • Eyes
  • Nails

Market Breakup by Distribution Channel

  • Hypermarkets/Supermarkets
  • Convenience Stores
  • Specialty Stores
  • Online Retail Stores
  • Others

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

CAGR 2025-2034 - Market by Country
India 6.4%
China 5.9%
Brazil 4.5%
USA 4.2%
France 3.8%
Canada XX%
UK XX%
Germany XX%
Italy 3.4%
Japan XX%
Australia XX%
Saudi Arabia XX%
Mexico XX%

Global Makeup Market Share

Gels Are Going To Gain Traction For Its Lightweight And Oil-Free Nature

Gels are likely to make significant growth in the global makeup market by product type. The reasons behind this popularity include their wide range of uses, lightweight feeling, and innovative formulations for longevity as well as the ease of application. Gels can be used in most cosmetic products, from foundation to eyeshadow, and give a smooth, airy finish. In addition, as high-performance and everyday applications for beauty care have become very much required by consumers, their functionality varies from high performance to daily applications, making these beauty solutions multifunctional, easy to use, and feasible.

Gel-based makeup products have been opening up new makeup market opportunities for the key players in the industry. An example of how well gels are doing in the global makeup industry is reflected right in the fact that gel-based foundations and blushes have been on a roll. Fenty Beauty and Maybelline have created products made with gel skin-serum-based formulas that feel light and dewy and blend seamlessly into the skin. Those are most appealing to consumers who want the most natural, breathable appearance, where products are not hard to apply and potentially can be worn throughout the day.

More Focus Will Be On The Face For a Wide Range Of Foundations, Concealers And Primers

The face segment, by application area, is likely to drive the makeup market industry revenue through 2032. Growing demand for more advanced coverage, skincare benefits, and customizable finishes drive demand for foundations, concealers, and highlighters.

Companies at the very front of this trend include Estee Lauder and L'Oréal with their innovative products like Estee Lauder's Double Wear Foundation and L'Oréal's True Match Super-Blendable Foundation. These companies diversify in skin tones and provide long-lasting results with high performance.

Global Makeup Market Regional Analysis

Better Lifestyle And Rising Disposable Income To Boost The Makeup Usage Across Asia Pacific Countries

The Asia-Pacific region is likely to bolster the global makeup demand growth. Key drivers include rapid urbanization, rising disposable incomes, and a growing concern for beauty. The increasing influence of K-beauty and J-beauty further boosts the growth by emphasizing skincare and multifunctional products.

Firms like Shiseido and LG Household & Health Care are expanding their product lines in the Asia-Pacific region, where Shiseido's high-end skincare lines and LG's very successful The History of Whoo brand help cover a wide span of local consumer needs.

Competitive Landscape

Market players are focused on providing premium quality of makeup for all age and demographics to stay ahead in the competition.

L'Oréal S.A.

L'Oréal S.A. offers a wide range of innovative, high-quality makeup products, which include foundations, mascaras, lipsticks, and many more. Founded in 1909, the headquarters of L'Oréal is based in Clichy, France, and it is considered the largest beauty group in the world, recognized for the excellence of its products and scientific excellence.

Shiseido Co. Ltd.

Shiseido Co. Ltd. offers a very large palette of makeup products, from foundations and lipsticks to eye shadows, that have gained fame for their superior formulations and skincare benefits. Founded in 1872, Shiseido is headquartered in Tokyo, Japan, and has a rich history of excellence and innovation in the beauty sector.

Estee Lauder Companies Inc.

Estée Lauder Companies Inc. manufactures prestige makeup products: foundation, lipstick, eye shadow—expertise in luxury and performance. Founded in 1946 and based in New York City, United States, this company remains synonymous with high-end beauty solutions and global presence.

Avon Products, Inc.

Avon Products, Inc., has many varieties of makeup products: foundation, lipstick, eye liner—most of them with an affordable price. Avon was founded in 1886 and is headquartered in London, United Kingdom. The company applies the direct-selling model and holds a wide reach across markets.

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Makeup Market Report Snapshots

Makeup Market Size

Makeup Market Growth

Makeup Market Share

Makeup Companies

Makeup Market Regional Analysis

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2024, the makeup market reached an approximate value of USD 39.45 Billion.

The makeup market is expected to grow at a CAGR of 4.80% between 2025 and 2034.

The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach USD 63.05 Billion by 2034.

The market is being driven due to the availability of a wide range of makeup products, rising demand for makeup for enhancing appearance, and growing expansion of e-commerce platforms.

Key trends aiding the market expansion include an influx of social media, the rising adoption of cosmetics made of vegan ingredients, and a growing number of men and younger generation using cosmetics.

Regions considered in the market are North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.

Makeup is applied on lips, eyes, face, and nails.

Based on product, the market segmentations include powders, gels, and lotions, among others.

Key players in the market are L’Oréal S.A., Shiseido Co. Ltd., Estée Lauder Companies Inc., Avon Products, Inc., Oriflame Holding AG, Revlon, Inc., Groupe Clarins, Kao Corporation, HB USA Holdings, Inc., and KIKO S.p.A., among others.

Report Summary

Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

REPORT FEATURES DETAILS
Base Year 2024
Historical Period 2018-2024
Forecast Period 2025-2034
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product Type
  • Application Area
  • Distribution Channel
  • Region
Breakup by Product Type
  • Powders
  • Gels 
  • Lotions 
  • Others
Breakup by Application Area
  • Face
  • Lips
  • Eyes
  • Nails
Breakup by Distribution Channel
  • Hypermarkets/Supermarkets
  • Convenience Stores
  • Specialty Stores
  • Online Retail Stores
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • L’Oréal S.A.
  • Shiseido Co. Ltd. 
  • Estee Lauder Companies Inc. 
  • Avon Products, Inc. 
  • Oriflame Holding AG
  • Revlon, Inc. 
  • Groupe Clarins 
  • Kao Corporation  
  • HB USA Holdings, Inc.  
  • KIKO S.p.A. 
  • Others

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