GITNUX MARKETDATA REPORT 2024

Must-Know Cosmetics Industry Statistics [Current Data]

Highlights: The Most Important Cosmetics Industry Statistics

  • The global cosmetics market is projected to reach $103.8 billion in 2023, making up 18.2% of the beauty industry’s total revenues.
  • L’Oréal was the most recognized cosmetics and make-up brand in the US, with 85% online consumer recognition, followed by COVERGIRL at 80%.
  • The top 3 cosmetics companies in 2020 were L’Oréal, Unilever, and P&G, with the US, Japan, and France each having two of the top ten companies.
  • The global cosmetics market is projected to reach $103.8 billion in 2023, making up 18.2% of the beauty industry’s total revenues.
  • 70% of shoppers are influenced by social media when making purchasing decisions, particularly in the beauty industry.

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The cosmetics industry is a multi-billion dollar industry that continues to grow year after year. With the rise of social media, influencers, and beauty bloggers, it’s no surprise that the cosmetics industry has seen a huge surge in popularity.

But what do the numbers say? In this article, we’ll be exploring the latest cosmetics industry statistics to get a better understanding of the current state of the industry. We’ll look at the size of the industry, the most popular products, and the biggest players in the industry. So, let’s dive in and take a look at the cosmetics industry by the numbers.

Cosmetic Industry: Most Important Statistics

The global cosmetics industry is valued at $380.2 billion and is growing at a rate of 5.3% each year, however, due to the COVID-19 pandemic, the market fell by 8% in 2020.
L’Oréal was the most recognized cosmetics and make-up brand in the US, with 85% online consumer recognition, followed by COVERGIRL at 80%.
The global cosmetics market is projected to reach $103.8 billion in 2023, making up 18.2% of the beauty industry’s total revenues.

Cosmetic Industry: Statistics Overview

The global cosmetics industry is valued at $380.2 billion and is growing at a rate of 5.3% each year, however, due to the COVID-19 pandemic, the market fell by 8% in 2020.

This highlights the importance of the cosmetics industry globally and the impact of the COVID-19 pandemic on the industry.

It also shows the potential for growth in the industry despite the pandemic, as the industry is still growing at a rate of 5.3% each year.

The global beauty industry spending in 2020 was $483 billion and is projected to reach $716 billion by 2025, with online sales making up 48% of the total by 2023.

There is a rapid growth of the beauty industry and importance of online sales. It also shows the importance of organic search for publishers and informational sites, which can help inform marketing strategies for beauty brands and retailers.

The top three cosmetics brands in terms of value are L’Oréal, Estée Lauder, and Gillette, with L’Oréal showing a small increase in value from 2021 to 2022.

The cosmetics industry is still growing, and that L’Oréal is the most valuable cosmetics brand in the world.

L’Oréal was the most recognized cosmetics and make-up brand in the US, with 85% online consumer recognition, followed by COVERGIRL at 80%.

L’Oréal is the most popular brand in the US, and that consumers are faced with a wide range of options when it comes to which brand to purchase.

The top 3 cosmetics companies in 2020 were L’Oréal, Unilever, and P&G, with the US, Japan, and France each having two of the top ten companies.

This statistic is important because it shows the current state of the cosmetics industry and which companies are leading the market.

It also reveals the geographical locations of the top companies, which can be used to inform marketing and product strategies.

The global cosmetics market is projected to reach $103.8 billion in 2023, making up 18.2% of the beauty industry’s total revenues.

There is a potential growth of the cosmetics industry over the next few years. It also indicates that the cosmetics industry is a significant contributor to the beauty industry, and that its share of the market is expected to increase over time.

This information can be used by companies in the cosmetics industry to plan their strategies and investments accordingly.

Sandra Cires Art is the most subscribed beauty content creator on YouTube with 16.3 million subscribers, demonstrating the increasing popularity of social media channels for the cosmetics industry.

This shows how the industry has benefited from the increasing popularity of social media channels such as Instagram and YouTube.

This demonstrates the importance of social media in the cosmetics industry and how it can be used to reach a large audience and promote products.

70% of shoppers are influenced by social media when making purchasing decisions, particularly in the beauty industry.

This shows the power of social media and digital content in influencing consumer decisions. This means that companies should invest in digital content and social media marketing in order to reach potential customers and increase sales.

Bath and Body Works ranks in the top 10 of personal care brands’ advertising spending, yet is far behind the leader, L’Oreal Paris, which has invested over two billion U.S. dollars in advertising every year since 2017.

The cosmetics and toiletries segment is one of the leading advertising categories worldwide, accounting for close to six percent of the total global ad spend and is expected to grow by around 10 percent in 2021.

This indicates that companies in this industry are investing heavily in advertising and that the industry is growing.

The expenditure on magazine advertising of the cosmetics & personal care category in Italy increased by 38.9 million U.S. dollars (+7.93 percent) in 2021 compared to 2020, while the ad expenditure on digital static display and outdoor was considerably lower.

Magazine advertising is still an effective way to reach consumers in Italy, and that the cosmetics & personal care category is investing more in magazine advertising than in other forms of advertising.

Conclusion

The cosmetics industry is a booming business with no signs of slowing down anytime soon. With the rise of social media, the industry has seen a surge in demand for cosmetics products, leading to an increase in sales and profits.

The industry is expected to grow even further in the coming years, with new products and technologies being developed to meet the needs of consumers. As the industry continues to expand, it is important to stay up-to-date with the latest trends and statistics to ensure success. With the right information, businesses can make informed decisions and capitalize on the growth of the cosmetics industry.

References

1 – https://www.zippia.com/advice/cosmetics-industry-statistics/

2 – https://terakeet.com/blog/beauty-industry/

3 – https://brandirectory.com/rankings/cosmetics/table

4 – https://www.statista.com/topics/1008/cosmetics-industry/#topicOverview

5 – https://www.cosmetics-technology.com/features/top-ten-cosmetics-companies-in-the-world/

6 – https://www.oberlo.com/statistics/global-cosmetics-market-size

7 – https://www.statista.com/topics/3137/cosmetics-industry/#topicOverview

8 – https://www.statista.com/topics/2381/beauty-and-personal-care-ecommerce/#topicOverview

9 – https://www.statista.com/topics/8105/beauty-and-cosmetics-advertising-in-the-us/#topicOverview

10 – https://www.statista.com/statistics/1354254/cosmetics-personal-care-ad-spend-magazines-italy/

FAQs

What is the size of the cosmetics industry?

The size of the cosmetics industry is estimated to be worth around $532 billion by 2023.

What are the major players in the cosmetics industry?

The major players in the cosmetics industry are L'Oreal, Unilever, Estee Lauder, Shiseido, and Procter & Gamble.

What are the major trends in the cosmetics industry?

The major trends in the cosmetics industry include natural and organic products, multi-functional products, and gender-neutral products.

What are the major challenges in the cosmetics industry?

The major challenges in the cosmetics industry include rapidly changing consumer preferences, increasing competition, and counterfeiting.

What are the opportunities in the cosmetics industry?

The opportunities in the cosmetics industry include expanding into new markets, leveraging technology, and creating innovative products.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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