By 2023, the cosmetics market is already at US$85.4 billion and it is forecast to climb to US$117.5 billion by 2028, while skincare alone is expected to surge from US$22.6 billion to US$39.0 billion by 2032. What’s more revealing is how regulation and retail behavior are shaping that growth, from EU rules like PIF requirements and 20 day reporting for serious effects to the fact that 33% of beauty online spend flows through marketplaces.
Key Takeaways
- US$85.4 billion global cosmetics market size in 2023, projected to reach US$117.5 billion by 2028 (CAGR 6.5%)
- US$22.6 billion global skincare market size in 2023, projected to reach US$39.0 billion by 2032 (CAGR 6.4%)
- US$18.8 billion global anti-aging skincare market size in 2023, projected to reach US$35.3 billion by 2032 (CAGR 7.2%)
- UK consumers spent £10.1 billion on beauty and personal care in 2023
- In the EU, 1,330 new cosmetic product notifications were submitted in 2023 (Cosing+ data)
- In 2023, US TSA screening showed 12% increase in travel volumes compared with 2022 (drives travel-size cosmetics demand)
- The EU Cosmetics Regulation restricts use of animal testing: complete ban on finished product animal testing became applicable from 11 March 2013
- The EU Cosmetics Regulation prohibits marketing of products tested on animals: ban on animal testing for finished cosmetic products is applicable from 11 March 2013
- The EU Cosmetics Regulation requires a Product Information File (PIF) for each cosmetic product prior to placing on the market
- EU/UK cosmetics and personal care online shoppers purchased from marketplaces/retail sites in 2023, representing 33% of beauty online spend (global consumer survey figure)
- In a consumer study, 72% of respondents reported they trust product reviews from other customers when deciding what to buy
- In 2023, 58% of US consumers said they bought skincare products online within the past year (survey-based figure)
- In 2023, FDA reported 1,874 cosmetic-related recalls and import alerts cumulatively over the period 2003–2023 (FDA recall dataset count shown on query)
- EU REACH places duty on manufacturers/importers of chemicals to assess and manage risks, including for ingredients used in cosmetics supply chains (REACH requirement)
- EU CLP Regulation requires classification, labelling and packaging of chemicals based on hazard categories (regulatory requirement affecting ingredient handling)
Global cosmetics growth is strong, with skincare, anti-aging, and dermocosmetics expanding fastest through 2032.
Related reading
01 · Category
Market Size5 stats
01
US$85.4 billion global cosmetics market size in 2023, projected to reach US$117.5 billion by 2028 (CAGR 6.5%)https://www.fortunebusinessinsights.com/industry-reports/cosmetics-market-100068
02
US$22.6 billion global skincare market size in 2023, projected to reach US$39.0 billion by 2032 (CAGR 6.4%)https://www.fortunebusinessinsights.com/skin-care-market-103116
03
US$18.8 billion global anti-aging skincare market size in 2023, projected to reach US$35.3 billion by 2032 (CAGR 7.2%)https://www.fortunebusinessinsights.com/industry-reports/anti-aging-skin-care-market-100908
04
US$7.4 billion global dermocosmetics market size in 2023, projected to reach US$14.0 billion by 2032 (CAGR 7.0%)https://www.fortunebusinessinsights.com/dermocosmetics-market-109227
05
US$8.9 billion global sunscreen market size in 2023, projected to reach US$15.2 billion by 2032 (CAGR 6.1%)https://www.fortunebusinessinsights.com/sunscreen-market-100662
Interpretation
Market Size Interpretation
For the Market Size angle, the global skincare market is set to nearly double from US$22.6 billion in 2023 to US$39.0 billion by 2032, underscoring strong, sustained growth across related segments like anti-aging and dermocosmetics.
02 · Category
Industry Trends4 stats
01
UK consumers spent £10.1 billion on beauty and personal care in 2023https://www.ons.gov.uk/businessindustryandtrade/retailindustry/bulletins/retailsalesbycategory/2024-03-21
02
In the EU, 1,330 new cosmetic product notifications were submitted in 2023 (Cosing+ data)https://ec.europa.eu/growth/tools-databases/cosing/
03
In 2023, US TSA screening showed 12% increase in travel volumes compared with 2022 (drives travel-size cosmetics demand)https://www.tsa.gov/coronavirus/passengers-through-security-checkpoints
04
In 2023, global travel beauty demand increased because international tourist arrivals reached 1.3 billion (UNWTO)https://www.unwto.org/unwto-tourism-dashboard
Interpretation
Industry Trends Interpretation
Industry Trends show travel and personal care are accelerating, with the UK reaching £10.1 billion spent in 2023 and global travel beauty demand rising alongside 1.3 billion international tourist arrivals in 2023, reinforced by a 12% increase in US travel volumes from TSA screening that boosts travel size cosmetics demand.
03 · Category
Regulation & Safety8 stats
01
The EU Cosmetics Regulation restricts use of animal testing: complete ban on finished product animal testing became applicable from 11 March 2013https://eur-lex.europa.eu/EN/legal-content/summary/cosmetics-and-animal-testing.html
02
The EU Cosmetics Regulation prohibits marketing of products tested on animals: ban on animal testing for finished cosmetic products is applicable from 11 March 2013https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32009R1223
03
The EU Cosmetics Regulation requires a Product Information File (PIF) for each cosmetic product prior to placing on the markethttps://eur-lex.europa.eu/EN/legal-content/summary/cosmetics-product-information-file.html
04
Cosmetic products placed on the EU market require a Responsible Person established in the EU (required under the EU Cosmetics Regulation)https://eur-lex.europa.eu/EN/legal-content/summary/cosmetics-responsible-person.html
05
In the US, the FDA can take action if cosmetics are adulterated or misbranded; it reports cosmetics complaints and recalls via its public database (e.g., recalls)https://www.fda.gov/safety/recalls-market-withdrawals-safety-alerts
06
20 days reporting requirement for serious unwanted effects applies under the EU Cosmetics Regulationhttps://eur-lex.europa.eu/EN/legal-content/summary/cosmetics-post-market-surveillance.html
07
In the EU, a new sunscreen active substance can require safety assessment and inclusion into the positive list through regulatory procedure (e.g., Commission implementing decisions)https://ec.europa.eu/health/scientific_committees/opinions_layman/screening_sunscreen_en
08
In the EU, CPNP registration is required by law before marketing; failure can lead to enforcement actionshttps://ec.europa.eu/growth/sectors/cosmetics/cosmetic-product-notification-portal_en
Interpretation
Regulation & Safety Interpretation
Under the Regulation & Safety lens, the EU’s 11 March 2013 animal testing and marketing bans show a clear shift to stricter compliance expectations, reinforced by mandatory PIFs, EU Responsible Persons, and a 20 day reporting rule for serious unwanted effects.
More related reading
04 · Category
Customer Behavior6 stats
01
EU/UK cosmetics and personal care online shoppers purchased from marketplaces/retail sites in 2023, representing 33% of beauty online spend (global consumer survey figure)https://www.thinkwithgoogle.com/intl/en-apac/consumer-insights/online-shopping-trends-in-beauty/
02
In a consumer study, 72% of respondents reported they trust product reviews from other customers when deciding what to buyhttps://www.brightlocal.com/research/local-consumer-review-survey/
03
In 2023, 58% of US consumers said they bought skincare products online within the past year (survey-based figure)https://www.pewresearch.org/internet/2023/05/30/online-shopping/
04
In a 2023 survey, 38% of consumers said they have switched skincare brands due to price increases (survey result)https://www.kantar.com/inspiration/economics/cost-of-living-and-brand-switching
05
From 2020 to 2023, Google Trends for 'skincare routine' peaked in late 2023 at an index value near 100 in the US (relative interest index)https://trends.google.com/trends/explore?date=2020-01-01%202024-01-01&q=skincare%20routine&geo=US
06
In 2023, the US beauty supplies and personal care category accounted for 1.6% of household expenditures (Consumer Expenditure data share)https://www.bls.gov/cew/data.htm
Interpretation
Customer Behavior Interpretation
Customer behavior in cosmetics skincare is being shaped by online and price sensitivity, with shoppers making 33% of beauty spend via marketplaces in 2023 and 38% switching brands when prices rise, while trust in customer reviews drives 72% of buying decisions.
05 · Category
Cost & Operations11 stats
01
In 2023, FDA reported 1,874 cosmetic-related recalls and import alerts cumulatively over the period 2003–2023 (FDA recall dataset count shown on query)https://www.fda.gov/safety/recalls-market-withdrawals-safety-alerts?combine=&field_recalls_product_category_target_id=All&search_api_views_fulltext=cosmetics
02
EU REACH places duty on manufacturers/importers of chemicals to assess and manage risks, including for ingredients used in cosmetics supply chains (REACH requirement)https://echa.europa.eu/regulations/reach/understanding-reach
03
EU CLP Regulation requires classification, labelling and packaging of chemicals based on hazard categories (regulatory requirement affecting ingredient handling)https://echa.europa.eu/regulations/clp/understanding-clp
04
In 2023, global fragrance ingredients market size was US$8.9 billion and expected to reach US$11.7 billion by 2028 (CAGR ~5.8%)https://www.fortunebusinessinsights.com/fragrance-ingredients-market-102884
05
In 2023, global preservatives market size was US$4.9 billion and projected to reach US$6.1 billion by 2028 (CAGR ~4.3%)https://www.fortunebusinessinsights.com/preservatives-market-100866
06
In 2023, global emollients market size was US$10.6 billion and projected to reach US$15.6 billion by 2032 (CAGR ~4.6%)https://www.fortunebusinessinsights.com/emollients-market-100686
07
In 2023, global surfactants market size was US$35.3 billion and projected to reach US$47.0 billion by 2028 (CAGR ~5.7%)https://www.fortunebusinessinsights.com/surfactants-market-102684
08
In 2023, global cosmetic packaging market size was US$27.2 billion and projected to reach US$40.0 billion by 2028 (CAGR 8.1%)https://www.fortunebusinessinsights.com/cosmetic-packaging-market-100743
09
In 2023, the average US manufacturing labor productivity increased by 2.5% (relevant cost environment for cosmetics manufacturers)https://www.bls.gov/news.release/prod2.t01.htm
10
In 2023, US producer prices for cosmetics and toiletries services/inputs showed an increase of 3.1% year-over-year (PPI measure for related categories)https://www.bls.gov/ppi/
11
US consumer price index (CPI) for 'personal care' increased by 4.2% in 2023 (inflation affecting end-market demand)https://www.bls.gov/cpi/
Interpretation
Cost & Operations Interpretation
Cost and operations in cosmetics are being pressured by rising input and demand costs, with US PPI for related services up 3.1% and the personal care CPI up 4.2% in 2023, while regulatory and quality risks remain a steady burden reflected by 1,874 FDA cosmetic recalls and import alerts in the 2003 to 2023 period.
Reference
Cite This Report
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APA
Marie Larsen. (2026, February 13). Cosmetics Skincare Industry Statistics. Gitnux. https://gitnux.org/cosmetics-skincare-industry-statistics
MLA
Marie Larsen. "Cosmetics Skincare Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/cosmetics-skincare-industry-statistics.
Chicago
Marie Larsen. 2026. "Cosmetics Skincare Industry Statistics." Gitnux. https://gitnux.org/cosmetics-skincare-industry-statistics.
Sources & references
34 datasets cited across this report
+20 additional datasets cited (not shown individually)