GITNUX MARKETDATA REPORT 2024

Global Cosmetics Industry Statistics

The global cosmetics industry is projected to reach a market value of over $430 billion by 2022, with a compound annual growth rate of 5.5%.

Highlights: Global Cosmetics Industry Statistics

  • The global cosmetic products market was valued at USD 532.43 billion in 2017.
  • The global cosmetics market is expected to reach $463.5 billion by 2027.
  • Skin care products represent the largest segment in the global cosmetics market, accounting for 36.4% of the global market.
  • The online sales channel for cosmetic products is expected to expand at a CAGR of 23.6% from 2020 to 2027.
  • The average annual expenditure on cosmetics per U.S. consumer is $197.
  • The MENA region will be the fastest-growing market in the global cosmetics industry, with a projected CAGR of 11.8% from 2020 to 2027.
  • The global organic cosmetics market was estimated to be worth $36.5 billion in 2020.
  • China is the biggest market for cosmetics in Asia Pacific with cosmetics sales amounting to approximately $37.4 billion in 2020.
  • The color cosmetics market global value is expected to reach $62.5 billion by 2023.
  • The global lipstick market is expected to reach $16.6 billion by 2026.
  • The luxury cosmetics market is projected to reach $74.3 billion by 2026.
  • The global cosmetics market is expected to grow at a CAGR of 5.3% from 2019 to 2027.
  • The United States is the biggest market for cosmetics, with a value of approximately $89.4 billion in 2018.
  • France is the leading country in Europe in the cosmetic market, with the industry valued at $28.5 billion.
  • In 2019, the size of the Indian cosmetic industry was around $8.1 billion.
  • The global fragrances and perfumes market was valued at $41.8 billion in 2019.
  • Natural cosmetics sales are expected to surpass $54 billion by 2027.
  • In 2019, the global hair care market reached approximately $87.9 billion.
  • In 2016, 287 new cosmetic and toiletry product launches were recorded in South Africa.

Table of Contents

The Latest Global Cosmetics Industry Statistics Explained

The global cosmetic products market was valued at USD 532.43 billion in 2017.

The statistic that the global cosmetic products market was valued at USD 532.43 billion in 2017 represents the total financial worth of all cosmetic products sold worldwide during that year. This figure reflects the significant size and scale of the cosmetic industry on a global level, indicating the high demand for cosmetic products across various regions and consumer segments. The market value serves as a key indicator of the economic impact and growth potential of the cosmetic industry, highlighting it as a lucrative and competitive market with opportunities for businesses to capitalize on consumer preferences and trends.

The global cosmetics market is expected to reach $463.5 billion by 2027.

The statistic that the global cosmetics market is projected to reach $463.5 billion by 2027 indicates a substantial growth and expansion of the industry over the coming years. This suggests an increasing demand for cosmetic products worldwide, reflecting evolving consumer preferences, trends, and economic conditions. Factors contributing to this growth may include rising disposable incomes, changing lifestyles, advancements in technology and product innovation, as well as increasing awareness and interest in skincare and beauty products. The forecasted figure serves as a key metric for stakeholders in the cosmetics industry, guiding decisions related to investments, marketing strategies, and product development to capitalize on the potential market opportunities and stay competitive in a dynamic market landscape.

Skin care products represent the largest segment in the global cosmetics market, accounting for 36.4% of the global market.

The statistic indicates that skin care products hold the largest share within the global cosmetics market, comprising 36.4% of the total market. This suggests that there is a significant demand for skin care products worldwide, likely driven by factors such as increasing awareness of skincare routines, growing concerns about environmental damages on the skin, and a rising preference for natural and organic products. The dominance of skin care products in the market also implies that consumers prioritize taking care of their skin health and appearance, contributing to the overall growth and revenue generation in the cosmetics industry. This trend underscores the importance of skincare as a key driver of the global cosmetics market and highlights opportunities for further innovation and market expansion within the skincare segment.

The online sales channel for cosmetic products is expected to expand at a CAGR of 23.6% from 2020 to 2027.

The statistic indicates that the online sales channel for cosmetic products is projected to grow at a Compound Annual Growth Rate (CAGR) of 23.6% from the year 2020 to 2027. This growth rate represents the annualized average rate at which online sales in the cosmetic industry are expected to increase over the specified period. A CAGR of 23.6% suggests a significant expansion in the online market for cosmetic products, highlighting the increasing preference of consumers to purchase beauty products through digital channels. Factors driving this growth may include the convenience of online shopping, a wider range of product choices, and the increasing popularity of e-commerce platforms for beauty and skincare products.

The average annual expenditure on cosmetics per U.S. consumer is $197.

The statistic that the average annual expenditure on cosmetics per U.S. consumer is $197 represents the typical amount that an individual consumer in the United States spends on cosmetic products in a year. This figure is derived by calculating the total amount spent on cosmetics by all consumers in the U.S. and dividing it by the total number of consumers. This statistic provides insight into consumer behavior and preferences related to beauty and personal care products, as well as the overall market size and spending patterns within the cosmetics industry. It can be used by businesses in the cosmetics sector to gauge demand for their products and tailor marketing strategies to target this consumer segment effectively.

The MENA region will be the fastest-growing market in the global cosmetics industry, with a projected CAGR of 11.8% from 2020 to 2027.

The statistic indicates that the Middle East and North Africa (MENA) region is expected to experience the highest compound annual growth rate (CAGR) in the global cosmetics industry between 2020 and 2027 at 11.8%. This suggests that the demand for cosmetics products in the MENA region is anticipated to rapidly increase over the forecast period, driven by factors such as rising disposable incomes, changing consumer preferences, and a growing beauty and personal care market. The projected CAGR of 11.8% signifies substantial opportunities for cosmetics companies looking to expand into or focus on this region, with the potential for significant growth and profitability in the market.

The global organic cosmetics market was estimated to be worth $36.5 billion in 2020.

The statistic states that in the year 2020, the global organic cosmetics market was estimated to have a total value of $36.5 billion. This figure reflects the economic scale and importance of the organic cosmetics industry worldwide, illustrating the substantial demand for natural and organic beauty products from consumers. The market value of $36.5 billion signifies the significant market share organic cosmetics hold in the overall beauty and personal care industry, showcasing the growing trend towards sustainability, health consciousness, and environmental awareness among consumers. This statistic indicates a thriving market for organic cosmetics and suggests a lucrative opportunity for businesses operating in this sector to capitalize on the increasing popularity and demand for eco-friendly and natural beauty products.

China is the biggest market for cosmetics in Asia Pacific with cosmetics sales amounting to approximately $37.4 billion in 2020.

This statistic highlights the significant role that China plays in the cosmetics industry within the Asia Pacific region. In 2020, the country accounted for the largest market share, amounting to approximately $37.4 billion in cosmetics sales. This robust figure underscores China’s position as a key player in driving growth and consumption within the cosmetics sector in the region. The substantial sales amount also reflects the growing consumer demand for beauty and personal care products in China, as well as the increasing purchasing power of its population. The statistic showcases the lucrative opportunities present in the Chinese cosmetics market for businesses looking to expand their presence and capitalize on the country’s thriving beauty sector.

The color cosmetics market global value is expected to reach $62.5 billion by 2023.

The statistic indicates that the global value of the color cosmetics market is projected to increase to $62.5 billion by the year 2023. This forecast suggests significant growth in the industry, driven by factors such as increasing disposable income, shifting trends in beauty and fashion, and the growing popularity of makeup and cosmetic products worldwide. The anticipated expansion of the color cosmetics market reflects the demand for a wide range of products including lipsticks, eyeshadows, foundations, and other beauty items, indicating opportunities for businesses to capitalize on this thriving market sector.

The global lipstick market is expected to reach $16.6 billion by 2026.

The statistic that the global lipstick market is expected to reach $16.6 billion by 2026 signifies a significant projected growth in the industry. This information indicates an upward trend in consumer demand for lipstick products worldwide, which may be influenced by various factors such as changing fashion trends, increased beauty awareness, and advancements in product innovation. The forecasted value points to a lucrative market opportunity for cosmetic companies and retailers to capitalize on the growing popularity of lipstick products, and suggests a promising outlook for the industry in the coming years.

The luxury cosmetics market is projected to reach $74.3 billion by 2026.

This statistic indicates the anticipated growth and trajectory of the luxury cosmetics market, with expectations to reach a total market value of $74.3 billion by the year 2026. This projection suggests a significant upward trend in consumer demand for high-end cosmetic products over the next few years. Factors such as increasing disposable income, changing consumer preferences towards premium beauty products, and innovative marketing strategies by luxury cosmetics brands are likely contributing to this anticipated growth. The statistic highlights the potential opportunities for businesses operating in the luxury cosmetics market to capitalize on this expanding sector and meet the evolving needs and desires of consumers.

The global cosmetics market is expected to grow at a CAGR of 5.3% from 2019 to 2027.

This statistic indicates that the global cosmetics market is projected to experience a Compound Annual Growth Rate (CAGR) of 5.3% from the year 2019 to 2027. This means that, on average, the market is anticipated to expand by 5.3% each year over the specified period. The CAGR provides a more accurate representation of the market’s growth rate compared to a simple average, as it considers the compounding effect over multiple years. This forecast suggests that the cosmetics industry is expected to continue growing steadily in the coming years, reflecting increasing consumer demand, evolving trends, and potentially expanding market opportunities globally.

The United States is the biggest market for cosmetics, with a value of approximately $89.4 billion in 2018.

The statistic that the United States is the biggest market for cosmetics, with a value of approximately $89.4 billion in 2018, highlights the significant role that the cosmetics industry plays in the U.S. economy. This figure indicates the substantial consumer demand for cosmetic products in the country, reflecting various factors such as changing beauty trends, marketing strategies, consumer preferences, and a growing emphasis on personal grooming and self-care. With a market size of $89.4 billion, the United States serves as a major hub for cosmetic companies to introduce new products, drive innovation, and capture a large share of the global cosmetics market. The statistic underscores the economic importance of the cosmetics industry and its influence on consumer behavior and spending patterns in the United States.

France is the leading country in Europe in the cosmetic market, with the industry valued at $28.5 billion.

The statistic that France is the leading country in Europe in the cosmetic market, with the industry valued at $28.5 billion, indicates that France holds a dominant position in the European cosmetics industry in terms of market size and revenue generation. This suggests that French cosmetic companies are influential players in the market, both domestically and on a broader European scale. The substantial valuation of $28.5 billion underscores the economic significance of the cosmetic industry within France and highlights the country’s strong reputation for innovation and production of high-quality cosmetic products. As a leader in the European cosmetic market, France likely sets trends, influences consumer preferences, and drives competition within the industry.

In 2019, the size of the Indian cosmetic industry was around $8.1 billion.

The statistic stating that the size of the Indian cosmetic industry was approximately $8.1 billion in 2019 indicates the total revenue generated by the Indian cosmetics sector within that year. This figure reflects the combined sales of various cosmetic products including skincare, hair care, fragrances, and makeup. The substantial size of the industry highlights the significant consumer demand for cosmetic products in India, illustrating the country’s vibrant beauty market. The $8.1 billion revenue also underscores the economic importance of the cosmetic industry in India, in terms of its contribution to employment, entrepreneurship, and overall economic growth within the country.

The global fragrances and perfumes market was valued at $41.8 billion in 2019.

The statistic that the global fragrances and perfumes market was valued at $41.8 billion in 2019 represents the total estimated revenue generated by sales of fragrances and perfumes worldwide during that year. This figure encompasses the combined sales of various types of fragrances and perfumes across different brands, distribution channels, and regions globally. The valuation of the market at $41.8 billion indicates the significant size and economic importance of the fragrance and perfume industry, highlighting the strong consumer demand for these products on a global scale in 2019.

Natural cosmetics sales are expected to surpass $54 billion by 2027.

The statistic that natural cosmetics sales are expected to surpass $54 billion by 2027 indicates a significant growth trend in the market for natural beauty products. This projection suggests that consumer demand for natural cosmetics is on the rise, as more people are becoming aware of the benefits of using products that are free from synthetic ingredients and potentially harmful chemicals. The expected increase in sales also indicates a shift towards eco-friendly and sustainable beauty choices among consumers. This statistic highlights the lucrative potential of the natural cosmetics industry and underscores the importance of businesses staying ahead of this trend to capitalize on the growing market opportunity.

In 2019, the global hair care market reached approximately $87.9 billion.

The statistic that in 2019, the global hair care market reached approximately $87.9 billion signifies the total revenue generated from the sale of hair care products worldwide during that year. This figure represents the economic value of all hair care products including shampoos, conditioners, hair styling products, hair colorants, and hair treatments sold across different regions. The significant size of the global hair care market illustrates the high demand for hair care products and the continuous growth of the beauty industry. Factors such as changing consumer preferences, evolving hair styling trends, and increasing awareness about personal grooming contribute to the expansion of the hair care market, making it a key sector of the beauty and personal care industry globally.

In 2016, 287 new cosmetic and toiletry product launches were recorded in South Africa.

The statistic indicates that in 2016, a total of 287 new cosmetic and toiletry products were introduced into the market in South Africa. This number reflects the level of innovation and competition within the cosmetic and toiletry industry during that year. The large number of product launches suggests that companies were actively trying to appeal to consumers by offering new and different products. The statistic may also indicate a growing demand for cosmetic and toiletry products in South Africa, leading to an increase in the variety of options available to consumers. Overall, the data highlights the dynamic nature of the industry and the efforts of companies to attract and retain customers through continuous product innovation.

References

0. – https://www.www.fortunebusinessinsights.com

1. – https://www.www.alliedmarketresearch.com

2. – https://www.www.statista.com

3. – https://www.www.precedenceresearch.com

4. – https://www.www.grandviewresearch.com

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.

Table of Contents

... Before You Leave, Catch This! 🔥

Your next business insight is just a subscription away. Our newsletter The Week in Data delivers the freshest statistics and trends directly to you. Stay informed, stay ahead—subscribe now.

Sign up for our newsletter and become the navigator of tomorrow's trends. Equip your strategy with unparalleled insights!