Key Highlights
- The global beauty and personal care market was valued at approximately $511 billion in 2022
- The skincare segment accounted for about 39% of the total beauty and personal care market in 2022
- The hair care market is projected to reach $211 billion by 2025
- 70% of consumers say they prefer natural or organic beauty products
- The use of social media influences 74% of beauty product purchases among millennials
- The average person applies around 16 beauty products daily
- Women make up approximately 70% of global beauty industry consumers
- The men's grooming market is expected to grow at a CAGR of 6.1% from 2021 to 2028
- eCommerce sales of beauty products accounted for 23.4% of total beauty sales in 2022
- Asia Pacific is the fastest-growing region in the beauty industry, with a CAGR of 6.2% from 2021 to 2028
- The global hair color market size was valued at $9.8 billion in 2020 and is projected to reach $12.6 billion by 2028
- 45% of consumers prefer cruelty-free beauty products
- The anti-aging skincare market is expected to reach $71.0 billion by 2025
The beauty industry is booming like never before, with a staggering $511 billion global market in 2022, driven by shifting consumer preferences for natural, sustainable, and personalized products, alongside rapid growth in e-commerce, social media influence, and innovative treatments.
Consumer Preferences and Trends
- 70% of consumers say they prefer natural or organic beauty products
- The use of social media influences 74% of beauty product purchases among millennials
- The average person applies around 16 beauty products daily
- Women make up approximately 70% of global beauty industry consumers
- 45% of consumers prefer cruelty-free beauty products
- 85% of consumers say they are willing to pay more for sustainable beauty products
- 60% of consumers say they look for products with eco-friendly packaging
- 65% of consumers research products online before purchasing
- The fastest-growing age group purchasing beauty products online is 55-64 years old, with a growth rate of 12% year-over-year
- More than 50% of beauty consumers prefer cruelty-free products when given the choice
- The top three ingredients consumers seek in skincare are hyaluronic acid, vitamin C, and retinol
- 40% of consumers say they buy beauty products based on influencer recommendations
- Organic beauty product sales increased by 10% during the COVID-19 pandemic period, reflecting a shift in consumer preference
- 55% of consumers are willing to try new beauty brands if recommended by friends or family
- 50% of consumers use at least one anti-aging product daily
- The use of biodegradable packaging in beauty products grew by 25% in 2022, as brands seek sustainability
- 62% of consumers prefer cruelty-free makeup products
- 80% of beauty companies plan to increase investment in sustainable ingredients by 2025
- The online beauty tutorial watching rate increased by 35% during 2022, driven by social media influencers
- 75% of consumers believe that a more personalized skincare routine enhances effectiveness
- 58% of consumers prefer multi-purpose beauty products for convenience
- 66% of beauty consumers prefer products with natural fragrances over synthetic ones
Consumer Preferences and Trends Interpretation
Market Size and Growth
- The global beauty and personal care market was valued at approximately $511 billion in 2022
- The hair care market is projected to reach $211 billion by 2025
- The men's grooming market is expected to grow at a CAGR of 6.1% from 2021 to 2028
- eCommerce sales of beauty products accounted for 23.4% of total beauty sales in 2022
- Asia Pacific is the fastest-growing region in the beauty industry, with a CAGR of 6.2% from 2021 to 2028
- The global hair color market size was valued at $9.8 billion in 2020 and is projected to reach $12.6 billion by 2028
- The anti-aging skincare market is expected to reach $71.0 billion by 2025
- The global fragrance market was valued at $51.4 billion in 2021, with a projected CAGR of 3.4% through 2028
- The segment of beauty products bought through subscription services has increased by 30% over the last three years
- The global nail care market is projected to grow to $11.2 billion by 2027
- The average woman spends approximately $3,756 annually on beauty and personal care products
- The natural and organic beauty segment grew by 8.9% in 2022, significantly faster than overall industry growth
- The global cosmetic surgery market was valued at $50.7 billion in 2019 and is expected to grow to $66.0 billion by 2030
- The global brow products market is expected to reach $2.2 billion by 2027
- In 2022, sales of foundation increased by 12% year-over-year in the U.S.
- The number of beauty influencers on Instagram grew by 25% in 2023, reaching over 250,000
- The male grooming market's global revenue was approximately $56 billion in 2020, with projections to reach $78 billion by 2027
- The global men’s skincare market is expected to reach $32.4 billion by 2026, growing at a CAGR of 6%
- The global organic beauty market is projected to grow at a CAGR of 8.4% between 2022 and 2027
- The percentage of consumers purchasing vegan beauty products increased by 15% from 2019 to 2022
- The use of AI-powered personalized skincare diagnostics increased by 40% in 2022
- The average annual expenditure on anti-acne products in the US is around $250
- The global eyelash extension market size was valued at $1.2 billion in 2020 and is projected to reach $1.75 billion by 2027
- The cosmetics ingredient market is predicted to reach $19 billion globally by 2025, with key segments being preservatives and antioxidants
- The global sun care products market is expected to reach $12 billion by 2027, growing at a CAGR of 5.8%
- The global makeup brushes market is projected to reach $1.1 billion by 2026, growing at a CAGR of 4.8%
- The global sales of eyelash serum products are expected to grow at a CAGR of 8.2% between 2021 and 2028
- The facial mask segment market value was estimated at $8.9 billion in 2020 and is projected to reach $13.3 billion by 2028
- The global organic hair color market is projected to reach $2.3 billion by 2027, growing at a CAGR of 4.5%
- Hair styling tools market is expected to reach $7.4 billion by 2025, with a CAGR of 4.4%
- The global cosmetic procedure market is anticipated to grow to $64 billion by 2024, with a CAGR of 10.2%
- The collagen supplements market is predicted to grow at a CAGR of 7.2% from 2021 to 2028, reaching $7.6 billion by 2028
- The DIY beauty treatment segment saw a 20% increase in revenue during the pandemic period, reflecting sustainability and cost considerations
- The global whitening products market is projected to reach $13 billion by 2027, growing at a CAGR of 6.3%
Market Size and Growth Interpretation
Product Segments and Categories
- The skincare segment accounted for about 39% of the total beauty and personal care market in 2022
- Lipstick remains the top-selling cosmetic product globally, with a 15% market share in makeup
- The beauty blender sponge was the top-selling beauty tool in 2022, with a 20% share in the tools market
Product Segments and Categories Interpretation
Retail and Sales Performance
- Virtual try-on technology for beauty products has increased sales conversion rates by up to 30%
- The retail sales of fragrances increased by 12% in 2022 compared to the previous year
Retail and Sales Performance Interpretation
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