GITNUX REPORT 2024

Global Beauty Industry Statistics: $716.6 Billion by 2025, Key Trends Revealed

Exploring the Billion-Dollar Global Beauty Industry: Trends, Stats, and Projections for Beauty Enthusiasts.

Author: Jannik Lindner

First published: 7/17/2024

Statistic 1

E-commerce accounts for 23% of global beauty product sales

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Specialty stores account for 20% of global beauty product sales

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Drug stores and pharmacies account for 15% of global beauty product sales

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Supermarkets and hypermarkets account for 18% of global beauty product sales

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Direct selling accounts for 12% of global beauty product sales

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Beauty subscription boxes account for 5% of online beauty sales

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Mobile commerce accounts for 40% of online beauty sales

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Social media influencers drive 60% of beauty product discovery among Gen Z consumers

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Virtual try-on technology is used by 65% of beauty brands for online sales

Statistic 10

Augmented reality is used by 30% of beauty brands for product visualization

Statistic 11

Beauty tech startups raised $1.5 billion in funding in 2020

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L'Oréal is the largest beauty company globally, with annual revenue of $32.6 billion in 2020

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Estée Lauder Companies reported net sales of $14.29 billion in fiscal year 2020

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Unilever's Beauty & Personal Care division generated €21.1 billion in revenue in 2020

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Procter & Gamble's Beauty segment reported net sales of $13.4 billion in fiscal year 2020

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Shiseido Company reported net sales of 920.9 billion yen in fiscal year 2020

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Beiersdorf AG, the maker of Nivea, reported sales of €7.025 billion in 2020

Statistic 18

Coty Inc. reported net revenues of $4.72 billion in fiscal year 2020

Statistic 19

Kao Corporation's Cosmetics Business reported net sales of 234.1 billion yen in fiscal year 2020

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LVMH's Perfumes & Cosmetics division reported revenue of €5.248 billion in 2020

Statistic 21

Amorepacific Group reported consolidated revenue of KRW 4.93 trillion in 2020

Statistic 22

Natura &Co reported net revenue of R$36.9 billion in 2020

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Henkel's Beauty Care segment reported sales of €3.752 billion in 2020

Statistic 24

Skincare is the largest segment of the beauty industry, accounting for 39% of the global market

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Makeup accounts for 19% of the global beauty market

Statistic 26

Fragrances make up 11% of the global beauty market

Statistic 27

Personal care products represent 18% of the global beauty market

Statistic 28

Oral care products make up 7% of the global beauty market

Statistic 29

Baby and child-specific products represent 3% of the global beauty market

Statistic 30

Deodorants account for 3% of the global beauty market

Statistic 31

Hair colorants make up 4% of the global beauty market

Statistic 32

Men's grooming products account for 10% of the global beauty market

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Premium beauty products account for 27% of the global beauty market

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Natural and organic beauty products account for 25% of the global beauty market

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Luxury beauty products account for 23% of the global beauty market

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The global beauty industry is expected to reach $716.6 billion by 2025

Statistic 37

The global cosmetics market is expected to grow at a CAGR of 5.3% from 2021 to 2026

Statistic 38

The global haircare market is projected to reach $211.1 billion by 2025

Statistic 39

The global anti-aging market is projected to reach $271.0 billion by 2024

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The global cosmetic packaging market is expected to reach $40.9 billion by 2025

Statistic 41

The global sun care market is expected to reach $24.9 billion by 2024

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The global nail care market is projected to reach $11.6 billion by 2027

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The global color cosmetics market is expected to reach $94.3 billion by 2027

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The global face masks market is projected to reach $11.37 billion by 2025

Statistic 45

The global organic personal care ingredients market is expected to reach $11.1 billion by 2025

Statistic 46

The global essential oils market is projected to reach $15.3 billion by 2025

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The global cosmetic preservatives market is expected to reach $1.8 billion by 2025

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Asia Pacific is the largest regional market for beauty products, with a 41% share

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North America is the second-largest beauty market, with a 24% share

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Europe accounts for 22% of the global beauty market

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Latin America accounts for 8% of the global beauty market

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The Middle East and Africa account for 5% of the global beauty market

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China is the second-largest beauty market globally, after the United States

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Japan is the third-largest beauty market globally

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India is the fastest-growing beauty market, with a CAGR of 9.7% from 2021 to 2025

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South Korea is the 8th largest beauty market globally

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Brazil is the 4th largest beauty market globally

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Germany is the largest beauty market in Europe

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France is the second-largest beauty market in Europe

Statistic 60

The organic beauty market is projected to reach $54.5 billion by 2027

Statistic 61

The clean beauty market is expected to reach $22 billion by 2024

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The men's grooming market is expected to reach $81.2 billion by 2024

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The natural and organic personal care products market is expected to reach $29.5 billion by 2028

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The global vegan cosmetics market is projected to reach $20.8 billion by 2025

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The global CBD skin care market is expected to reach $1.7 billion by 2025

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The global halal cosmetics market is expected to reach $54.16 billion by 2022

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The global probiotic cosmetic products market is expected to reach $37.8 billion by 2025

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The global personalized beauty products market is expected to reach $38.2 billion by 2026

Statistic 69

The global beauty devices market is expected to reach $166.06 billion by 2026

Statistic 70

The global sheet face masks market is expected to reach $551.3 million by 2026

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Summary

  • The global beauty industry is expected to reach $716.6 billion by 2025
  • Skincare is the largest segment of the beauty industry, accounting for 39% of the global market
  • Asia Pacific is the largest regional market for beauty products, with a 41% share
  • L'Oréal is the largest beauty company globally, with annual revenue of $32.6 billion in 2020
  • The organic beauty market is projected to reach $54.5 billion by 2027
  • E-commerce accounts for 23% of global beauty product sales
  • The global cosmetics market is expected to grow at a CAGR of 5.3% from 2021 to 2026
  • Makeup accounts for 19% of the global beauty market
  • North America is the second-largest beauty market, with a 24% share
  • Estée Lauder Companies reported net sales of $14.29 billion in fiscal year 2020
  • The clean beauty market is expected to reach $22 billion by 2024
  • Specialty stores account for 20% of global beauty product sales
  • The global haircare market is projected to reach $211.1 billion by 2025
  • Fragrances make up 11% of the global beauty market
  • Europe accounts for 22% of the global beauty market

Plump up those lips, dazzle those eyes, and slather on that serum, because the beauty industry is set to hit a jaw-dropping $716.6 billion by 2025! From the powerhouse dominance of skincare to the undeniable allure of makeup, its a sector thats as vibrant as your favorite shade of lipstick. With Asia Pacific leading the charge and industry giants like LOréal and Estée Lauder ruling the roost, its clear that beauty isnt just skin deep—its a multi-billion-dollar global obsession.

Distribution Channels

  • E-commerce accounts for 23% of global beauty product sales
  • Specialty stores account for 20% of global beauty product sales
  • Drug stores and pharmacies account for 15% of global beauty product sales
  • Supermarkets and hypermarkets account for 18% of global beauty product sales
  • Direct selling accounts for 12% of global beauty product sales
  • Beauty subscription boxes account for 5% of online beauty sales
  • Mobile commerce accounts for 40% of online beauty sales
  • Social media influencers drive 60% of beauty product discovery among Gen Z consumers
  • Virtual try-on technology is used by 65% of beauty brands for online sales
  • Augmented reality is used by 30% of beauty brands for product visualization
  • Beauty tech startups raised $1.5 billion in funding in 2020

Interpretation

In a world where e-commerce reigns supreme, beauty industry players are navigating a digital landscape as complex as a 10-step skincare routine. With mobile commerce strutting ahead at 40% of online sales, it's clear that consumers are blending tech with beauty like a seamless foundation match. Social media influencers are the guiding lights of Gen Z beauty discovery, hypnotizing followers with glowing reviews and flawless selfies. Augmented reality and virtual try-on tech are the new beauty counter consultants, beckoning customers with promises of perfect pouts and smoldering smokey eyes. And with beauty tech startups raking in a cool $1.5 billion, it seems the cosmetics industry is not just painting faces but also the town red with innovation.

Key Players

  • L'Oréal is the largest beauty company globally, with annual revenue of $32.6 billion in 2020
  • Estée Lauder Companies reported net sales of $14.29 billion in fiscal year 2020
  • Unilever's Beauty & Personal Care division generated €21.1 billion in revenue in 2020
  • Procter & Gamble's Beauty segment reported net sales of $13.4 billion in fiscal year 2020
  • Shiseido Company reported net sales of 920.9 billion yen in fiscal year 2020
  • Beiersdorf AG, the maker of Nivea, reported sales of €7.025 billion in 2020
  • Coty Inc. reported net revenues of $4.72 billion in fiscal year 2020
  • Kao Corporation's Cosmetics Business reported net sales of 234.1 billion yen in fiscal year 2020
  • LVMH's Perfumes & Cosmetics division reported revenue of €5.248 billion in 2020
  • Amorepacific Group reported consolidated revenue of KRW 4.93 trillion in 2020
  • Natura &Co reported net revenue of R$36.9 billion in 2020
  • Henkel's Beauty Care segment reported sales of €3.752 billion in 2020

Interpretation

In a world where beauty is big business and cosmetics revenues rival the GDP of small nations, it's clear that the pursuit of flawless skin and captivating fragrances is not just a luxury, but a global obsession. From L'Oréal's towering revenue to Natura &Co's eye-popping figures, it's clear that beauty isn't just skin-deep, but wallet-deep as well. These companies are not just selling products; they're peddling dreams and aspirations packaged in sleek bottles and glamorous campaigns. So next time you swipe on that lipstick or dab on that moisturizer, remember that you're not just enhancing your outer beauty, you're also contributing to the bottom line of these beauty behemoths.

Market Segments

  • Skincare is the largest segment of the beauty industry, accounting for 39% of the global market
  • Makeup accounts for 19% of the global beauty market
  • Fragrances make up 11% of the global beauty market
  • Personal care products represent 18% of the global beauty market
  • Oral care products make up 7% of the global beauty market
  • Baby and child-specific products represent 3% of the global beauty market
  • Deodorants account for 3% of the global beauty market
  • Hair colorants make up 4% of the global beauty market
  • Men's grooming products account for 10% of the global beauty market
  • Premium beauty products account for 27% of the global beauty market
  • Natural and organic beauty products account for 25% of the global beauty market
  • Luxury beauty products account for 23% of the global beauty market

Interpretation

In a world where skincare takes up a whopping 39% of the global beauty market, it seems like we're all just trying to put our best face forward, literally. Makeup comes in at 19%, reminding us that sometimes a little extra glam can go a long way. Fragrances waft in at 11%, a reminder that a good scent can leave a lasting impression. Personal care products at 18% show we're all about pampering ourselves from head to toe, while oral care at 7% ensures our smiles sparkle. Baby and child-specific products at 3% prove that even the littlest ones need some self-care love too. And let's not forget about the 3% dedicated to deodorants, because smelling good is non-negotiable. Hair colorants at 4% remind us that a new 'do can be a game-changer. Men's grooming products at 10% highlight the rise of the modern man who is unapologetically into personal care. Premium beauty products at 27% show that sometimes it's worth splurging for that extra special boost. Natural and organic beauty products at 25% indicate that the clean beauty movement is here to stay. And luxury beauty products at 23% suggest that indulgence knows no bounds when it comes to looking and feeling fabulous. Beauty truly is a multi-faceted industry, where there's something for everyone, no matter how you choose to express yourself.

Market Size

  • The global beauty industry is expected to reach $716.6 billion by 2025
  • The global cosmetics market is expected to grow at a CAGR of 5.3% from 2021 to 2026
  • The global haircare market is projected to reach $211.1 billion by 2025
  • The global anti-aging market is projected to reach $271.0 billion by 2024
  • The global cosmetic packaging market is expected to reach $40.9 billion by 2025
  • The global sun care market is expected to reach $24.9 billion by 2024
  • The global nail care market is projected to reach $11.6 billion by 2027
  • The global color cosmetics market is expected to reach $94.3 billion by 2027
  • The global face masks market is projected to reach $11.37 billion by 2025
  • The global organic personal care ingredients market is expected to reach $11.1 billion by 2025
  • The global essential oils market is projected to reach $15.3 billion by 2025
  • The global cosmetic preservatives market is expected to reach $1.8 billion by 2025

Interpretation

The beauty industry continues to bloom like a perfectly tended rose garden, with projections reaching astronomical figures that could make even the most stoic economists dab on a bit of concealer. From anti-aging potions to color cosmetics fit for royalty, it seems the world's quest for eternal youth and flawless beauty knows no bounds. With the global market for everything from haircare to nail polish seeing exponential growth, one thing is clear: beauty is truly in the eye of the shareholder.

Regional Markets

  • Asia Pacific is the largest regional market for beauty products, with a 41% share
  • North America is the second-largest beauty market, with a 24% share
  • Europe accounts for 22% of the global beauty market
  • Latin America accounts for 8% of the global beauty market
  • The Middle East and Africa account for 5% of the global beauty market
  • China is the second-largest beauty market globally, after the United States
  • Japan is the third-largest beauty market globally
  • India is the fastest-growing beauty market, with a CAGR of 9.7% from 2021 to 2025
  • South Korea is the 8th largest beauty market globally
  • Brazil is the 4th largest beauty market globally
  • Germany is the largest beauty market in Europe
  • France is the second-largest beauty market in Europe

Interpretation

In the intricate world of beauty, it seems that different regions are putting their best face forward in unique ways. With Asia Pacific leading the pack with a 41% share, it's clear that beauty is not just skin deep in this part of the globe. Meanwhile, North America and Europe are in a tight race to snag the silver and bronze, with Latin America, the Middle East, and Africa holding their own stylish stakes. China's beauty game is on point as the second-largest market, while India is raising the beauty bar with its rapid growth. From Seoul to Sao Paulo, and Berlin to Paris, it's a global beauty pageant where every region brings its own beauty identity to the runway of the world stage.

Trends

  • The organic beauty market is projected to reach $54.5 billion by 2027
  • The clean beauty market is expected to reach $22 billion by 2024
  • The men's grooming market is expected to reach $81.2 billion by 2024
  • The natural and organic personal care products market is expected to reach $29.5 billion by 2028
  • The global vegan cosmetics market is projected to reach $20.8 billion by 2025
  • The global CBD skin care market is expected to reach $1.7 billion by 2025
  • The global halal cosmetics market is expected to reach $54.16 billion by 2022
  • The global probiotic cosmetic products market is expected to reach $37.8 billion by 2025
  • The global personalized beauty products market is expected to reach $38.2 billion by 2026
  • The global beauty devices market is expected to reach $166.06 billion by 2026
  • The global sheet face masks market is expected to reach $551.3 million by 2026

Interpretation

As the beauty industry continues to flourish, it seems that consumers are not just investing in looking good, but also in feeling good about their choices. From embracing organic and natural ingredients to demanding clean and ethically sourced products, the global market is reflecting a shift towards a more conscious approach to beauty. With men's grooming also on the rise, it appears that the traditional boundaries of beauty standards are evolving. As the numbers continue to climb in various niche markets such as vegan, halal, and personalized beauty products, it is evident that the future of beauty lies not just in the pursuit of aesthetic perfection, but in aligning with personal values and preferences. Whether it's a CBD-infused skincare routine or a probiotic-packed beauty regimen, it seems that the beauty industry is not just skin deep but also deeply rooted in a quest for authenticity and sustainability.

References