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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
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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.
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The use of face cleansers and other skincare products is on the rise, with around 2 in 5 US consumers using cleanser products.
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The global beauty market grew by over 8% in 2023, reaching an estimated value of more than 270 billion euros.
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L'Oréal remains the number one Beauty Products Company in the world, pulling off over USD 40 billion in sales worldwide in 2023.
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.
Makeup Market Report Snapshots
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.
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