GITNUX MARKETDATA REPORT 2024

Diversity In The Beauty Industry Statistics [Fresh Research]

With sources from: theswaddle.com, allure.com, prnewswire.com, refinery29.com and many more

In this post, we will explore a series of compelling statistics shedding light on the current state of diversity within the beauty industry. From representation in executive positions to consumer perceptions and market trends, these statistics provide valuable insights into the ongoing push for inclusivity and representation in the beauty world. Let’s dive into the numbers that are shaping the landscape of the beauty industry.

Statistic 1

"Women of color represent only 1 out of 5 executives in the beauty industry."

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Statistic 2

"70% of black women feel underserved by beauty industry."

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Statistic 3

"The multicultural beauty products market is expected to reach an estimated $82.2 billion by 2023."

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Statistic 4

"In 2021, Sephora committed to dedicating 15% of their shelf space to black-owned brands."

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Statistic 5

"As of 2020, only 4% of beauty brands are owned by people of color."

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Statistic 6

"Over half (52%) of Gen Z consumers believe in shopping for brands that are sustainably conscious and inclusive."

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Statistic 7

"In 2021, the global market value of inclusive beauty products reached around 45.6 billion U.S. dollars."

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Statistic 8

"64% of women of all ages and ethnicities in the U.S. expect beauty brands to be more diverse in their marketing."

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Statistic 9

"A 2021 survey showed 97% of UK black women believe the beauty industry needs more diversity."

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Statistic 10

"Allure magazine phased out the term “anti-aging”, in an effort to be more inclusive and body-positive."

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Statistic 11

"88% of UK women agree that they are more likely to buy from brands that use diverse models in their advertising."

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Statistic 12

"In 2017, POC consumers spent $63.5 million on multicultural beauty products in the U.S."

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Statistic 13

"Between 2018 and 2019, Racially Inclusive foundations increased by 104%."

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Statistic 14

"A 2021 survey revealed that 75% of UK consumers feel it is important for beauty ads to represent people with different skin types."

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Statistic 15

"80% of consumers believe the beauty industry has made progress in gender diversity, but only 45% believe it’s made progress in racial diversity."

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Statistic 16

"In 2018, it was estimated that 36% of US beauty consumers chose brands based on inclusivity."

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Statistic 17

"90% of women of color in the US acknowledge that they are more likely to buy from brands that show diversity in their advertising campaigns."

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Statistic 18

"About 15% of new beauty brands in 2020 were created by Black entrepreneurs."

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Statistic 19

"As of 2021, 40% of the top 25 mainstream beauty brands offer 40 or more shades of foundation."

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Interpretation

The statistics presented highlight the significant disparities and growing demands for diversity within the beauty industry. Despite the substantial market potential for multicultural beauty products, there remains a lack of representation and inclusion for women of color at executive levels and in brand ownership. Consumers, particularly Gen Z and women of color, are increasingly advocating for more diverse and inclusive marketing practices from beauty brands. Initiatives like Sephora's commitment to supporting black-owned brands show progress towards greater inclusivity, but there is still substantial room for improvement to better reflect and serve the diverse consumer base of the beauty industry.

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