Cosmetics and Beauty Market Report 2024 (Global Edition)

Global Cosmetics and Beauty Market Report 2024 Market Size Split by Product (Skin Care , Hair Care , Make Up , Fragrances , Others), by Application (Men, , Women), by Nature (Inorganic , Organic...

Cosmetics and Beauty Market Report Description

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Competitive Landscape of the Cosmetics and Beauty Market

The cosmetics and beauty market is characterized by a highly competitive landscape, with numerous established brands and emerging players vying for market share and consumer attention. Established brands such as L'Oréal, Estée Lauder, Procter & Gamble, and Unilever dominate the global cosmetics market, leveraging their extensive product portfolios, strong brand recognition, and global distribution networks to maintain their competitive edgeIn 

Cosmetics and Beauty Industry News

In August 2023, Kao Corporation announced that its wholly owned subsidiaries Kao Australia Pty. Limited and Kao USA Inc. to acquire the Bondi Sands brands via the acquisition of Bondi Sands Australia Pty Ltd and related Bondi Sands companies to offers a range of its sun care and skincare products.

(Source: https://www.kao.com/global/en/newsroom/news/release/2023/20230801-001/)

In September 2022, Shiseido Europe S.A., a subsidiary of Shiseido Company, Limited, entered an agreement to acquire all the outstanding shares of Gallinée Ltd, a London-based beauty brand.

(Source: https://corp.shiseido.com/en/news/detail.html?n=00000000003488)

Top Companies Market Share in Cosmetics and Beauty Industry: (In no particular order of Rank)

• Revlon Inc.
• Unilever PLC 
• Shiseido Company Limited
• Oriflame Cosmetics Global SA 
• Kao Corporation
• Skinfood Co Ltd. 
• The Procter & Gamble Company 
• The Estee Lauder Companies Inc.
• LOREAL S.A. 
• Avon Products Inc
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Cosmetics and Beauty Market

Which Region will dominate the Cosmetics and Beauty Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. North America stands as the dominant region in the cosmetics and beauty market due to several key factors. Firstly, the region boasts a large and affluent consumer base with a strong inclination towards personal grooming and self-care, driving robust demand for cosmetic products. Additionally, North America is home to several leading cosmetics companies, including industry giants like L'Oréal, Estée Lauder, and Procter & Gamble, which have established extensive distribution networks and strong brand recognition worldwide.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific emerges as the fastest-growing region in the cosmetics and beauty market owing to several compelling factors. Firstly, the region's burgeoning population, particularly in countries like China and India, presents a vast consumer base with increasing disposable incomes and a growing appetite for beauty products. Additionally, changing socio-cultural norms and a rising emphasis on personal grooming and appearance further fuel demand for cosmetics and beauty products across Asia-Pacific.

The current report Scope analyzes Cosmetics and Beauty Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Cosmetics and Beauty Market

According to Cognitive Market Research, the global Cosmetics and Beauty market size was estimated at USD 268815.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 107526.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.0% from 2024 to 2031.The North American cosmetics and beauty market is a thriving industry characterized by diverse consumer preferences, strong brand presence, and evolving trends. In terms of regional analysis, North America encompasses the United States and Canada, both of which contribute significantly to the market's growth. The United States, in particular, holds the largest share in the region, driven by a large consumer base, high disposable income levels, and a culture that places a strong emphasis on personal grooming and self-care. Segmentation analysis reveals that the cosmetics and beauty market in North America is segmented based on product type, including skincare, hair care, makeup, fragrance, and personal care. Additionally, segmentation is also based on distribution channels such as specialty stores, department stores, online retail, and direct sales. In conclusion, the North American cosmetics and beauty market presents lucrative opportunities for industry players due to its large consumer base, strong purchasing power, and evolving consumer preferences.

Country Analysis

• According to Cognitive Market Research, the US had a major share in the Cosmetics and Beauty market with a market size of USD 84838.08 million in 2024 and is projected to grow at a CAGR of 2.8% during the forecast period. The demand is amplified by the nation's thriving industry characterized by diverse consumer preferences, strong brand presence propel consistent growth. 
• The Canada Cosmetics and Beauty market had a market share of USD 12903.13 million in 2024 and is projected to grow at a CAGR of 3.8% during the forecast period. Canada's strong purchasing power and evolving consumer preferences to increased usage of Cosmetics and Beauty.
• The Mexico Cosmetics and Beauty market is projected to witness growth at a CAGR of 3.5% during the forecast period with a market size of USD 9784.87 million in 2024.

Europe Cosmetics and Beauty Market

According to Cognitive Market Research, the global Cosmetics and Beauty market size was estimated at USD 268815.2 Million out of which Europe market of more than 30%of the global revenue with a market size of USD 80644.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.3%from 2024 to 2031.The cosmetics and beauty market in Europe represents a diverse and dynamic industry shaped by varying consumer preferences, cultural influences, and economic factors across different countries within the region. From a regional analysis perspective, Europe encompasses a wide range of countries, each with its own distinct characteristics and market dynamics. Segmentation analysis reveals that the European cosmetics and beauty market is segmented based on product type, distribution channel, and consumer preferences. Product segments include skincare, hair care, makeup, fragrance, and personal care products. Additionally, the market is segmented based on distribution channels such as specialty stores, department stores, online retail, and beauty salons. In conclusion, the European cosmetics and beauty market presents a complex landscape with diverse consumer demands and competitive dynamics. While established brands dominate certain segments, there is also room for niche and indie brands to thrive, particularly in the growing market for natural and organic beauty products.

• The United Kingdom Cosmetics and Beauty market had a market share of USD 13548.29 million in 2024 and is projected to grow at a CAGR of4.1% during the forecast period. In the UK, Cosmetics and Beauty sales witness an upswing due to the nation's growing market for natural and organic beauty products.
• The France Cosmetics and Beauty market is projected to witness growth at a CAGR of 2.5% during the forecast period with a market size of USD 7419.30 million in 2024.
• According to Cognitive Market Research, the Germany Cosmetics and Beauty market size was valued at USD 15967.62 million in 2024 and is projected to grow at a CAGR of 3.5% during the forecast period. In Germany, Cosmetics and Beauty sales surge due to the strong purchasing power and evolving consumer preferences. 
• The Italy Cosmetics and Beauty market is projected to witness growth at a CAGR of 2.7% during the forecast period with a market size of USD 6935.43 million in 2024.
• The Russia Cosmetics and Beauty market is projected to witness growth at a CAGR of 2.3% during the forecast period with a market size of USD 12499.91 million in 2024.
• The Spain Cosmetics and Beauty market is projected to witness growth at a CAGR of 2.4% during the forecast period with a market size of USD 6612.85 million in 2024.
• The Luxembourg Cosmetics and Beauty market is projected to witness growth at a CAGR of 3.4% during the forecast period with a market size of USD 2499.98 million in 2024.
• The Portugal Cosmetics and Beauty market is projected to witness growth at a CAGR of 3.1% during the forecast period with a market size of USD 1693.54 million in 2024.
• The Greece Cosmetics and Beauty market is projected to witness growth at a CAGR of 3.6% during the forecast period with a market size of USD 967.73 million in 2024.
• Rest of Europe Cosmetics and Beauty market is projected to witness growth at a CAGR of 2.0% during the forecast period with a market size of USD 12499.91 million in 2024.

 

Asia Pacific Cosmetics and Beauty Market

According to Cognitive Market Research, the global Cosmetics and Beauty market size was estimated at USD 268815.2 Million out of which Asia Pacific held the fastest growing market ofaround23% of the global revenue with a market size of USD 61827.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.8% from 2024 to 2031.The Asia-Pacific cosmetics and beauty market is a vibrant and rapidly evolving sector characterized by diverse consumer preferences, emerging trends, and a burgeoning middle class. In terms of regional analysis, Asia-Pacific encompasses a wide range of countries, each with its own unique market dynamics and consumer behavior. Segmentation analysis of the Asia-Pacific cosmetics and beauty market reveals several key factors influencing consumer preferences and purchasing behaviour. Product segmentation includes skincare, hair care, makeup, fragrance, and personal care products, with each category catering to specific consumer needs and preferences. In conclusion, the Asia-Pacific cosmetics and beauty market presents immense opportunities for growth and innovation. With rising disposable incomes, urbanization, and increasing awareness of beauty and wellness, demand for cosmetics and beauty products is expected to continue surging across the region.

• According to Cognitive Market Research, the China Cosmetics and Beauty market size was valued at USD 27822.37 million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. Cosmetics and Beauty sales surge in China due to the nation's consumer preferences, emerging trends, and a burgeoning middle class.
• The Japan Cosmetics and Beauty market is projected to witness growth at a CAGR of5.3%during the forecast period with a market size of USD 8532.19 million in 2024.
• The India Cosmetics and Beauty market had a market share of USD 7419.30 million in 2024 and is projected to grow at a CAGR of 8.6% during the forecast period. The demand is augmented by India's increasing awareness of beauty and wellness.
• The South Korea Cosmetics and Beauty market is projected to witness growth at a CAGR of 5.9% during the forecast period with a market size of USD 6182.75 million in 2024.
• The Australia Cosmetics and Beauty market is projected to witness growth at a CAGR of 6.5% during the forecast period with a market size of USD 3215.03 million in 2024.
• The South East Asia Cosmetics and Beauty market is projected to witness growth at a CAGR of 7.8% during the forecast period with a market size of USD 4266.10million in 2024.
• The Rest of Asia Pacific Cosmetics and Beauty market is projected to witness growth at a CAGR of 6.6% during the forecast period with a market size of USD 4389.75million in 2024.

 

South America Cosmetics and Beauty Market

According to Cognitive Market Research, the global Cosmetics and Beauty market size was estimated at USD 268815.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 13440.76million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2%from 2024 to 2031.The Latin America cosmetics and beauty market represents a diverse and rapidly growing industry fuelled by changing consumer preferences, urbanization, and increasing disposable incomes across the region. From a regional analysis perspective, Latin America comprises a mix of countries, including Brazil, Mexico, Argentina, Colombia, and Chile, each with its own unique market dynamics and cultural influences. Segmentation analysis reveals that the Latin America cosmetics and beauty market is segmented based on product categories, distribution channels, and consumer demographics. Product segments include skincare, hair care, makeup, fragrance, and personal care products, with each category experiencing steady growth driven by evolving beauty trends and consumer lifestyles. In conclusion, the Latin America cosmetics and beauty market offers significant opportunities for industry players to expand their presence and tap into the region's growing consumer demand for beauty products.

• According to Cognitive Market Research, the Brazil Cosmetics and Beauty market size was valued at USD 5752.65 million in 2024 and is projected to grow at a CAGR of 4.8% during the forecast period. Cosmetics and Beauty sales flourish in Brazil due to the nation's rapidly growing industry fuelled by changing consumer preferences, urbanization, and increasing disposable incomes.
• The Argentina Cosmetics and Beauty market had a market share of USD 2258.05 million in 2024 and is projected to grow at a CAGR of 5.1% during the forecast period. The demand is augmented by Argentina's growing consumer demand for beauty products.
• The Colombia Cosmetics and Beauty market is projected to witness growth at a CAGR of 4.0% during the forecast period with a market size of USD 1196.23 million in 2024.
• The Peru Cosmetics and Beauty market is projected to witness growth at a CAGR of 4.4% during the forecast period with a market size of USD 1102.14 million in 2024.
• The Chile Cosmetics and Beauty market is projected to witness growth at a CAGR of 4.5% during the forecast period with a market size of USD 967.73 million in 2024.
• The Rest of Latin America Cosmetics and Beauty market is projected to witness growth at a CAGR of 3.3% during the forecast period with a market size of USD 2163.96 million in 2024.

 

Middle East and Africa Cosmetics and Beauty Market

According to Cognitive Market Research, the global Cosmetics and Beauty market size was estimated at USD 268815.2 Million out of which Middle East and Africa market ofaround 2% of the global revenue with a market size of USD 5376.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.5%from 2024 to 2031.The cosmetics and beauty market in the Middle East and Africa region is characterized by a blend of traditional practices, cultural diversity, and increasing urbanization, making it a dynamic and rapidly growing industry. From a regional analysis perspective, the MEA region encompasses diverse countries, including Saudi Arabia, the United Arab Emirates (UAE), South Africa, Nigeria, and Egypt, each contributing to the region's beauty market in its unique way. Segmentation analysis of the MEA cosmetics and beauty market reveals various factors influencing consumer preferences and purchasing behaviour. Product segmentation includes skincare, hair care, makeup, fragrance, and personal care products, with each category catering to specific consumer needs and cultural preferences. In conclusion, the Middle East and Africa cosmetics and beauty market present vast opportunities for growth and expansion. As urbanization and economic development continue to drive consumer spending power across the region, demand for cosmetics and beauty products is expected to rise steadily.

• According to Cognitive Market Research, the GCC Countries Cosmetics and Beauty market size was valued at USD 2301.06 million in 2024 and is projected to grow at a CAGR of 5.3% during the forecast period. Cosmetics and Beauty sales flourish in the GCC Countries due to the region's cultural diversity, and increasing urbanization.
• The Egypt Cosmetics and Beauty market is projected to witness growth at a CAGR of 4.8% during the forecast period with a market size of USD 564.51 million in 2024.
• The South Africa Cosmetics and Beauty market is projected to witness growth at a CAGR of 5.5% during the forecast period with a market size of USD 849.46 million in 2024.Cosmetics and Beauty sales flourish in the South Africa due to the region's urbanization and economic development.
• The Turkey Cosmetics and Beauty market is projected to witness growth at a CAGR of 4.0% during the forecast period with a market size of USD 462.36million in 2024.
• The Nigeria Cosmetics and Beauty market is projected to witness growth at a CAGR of 3.6%during the forecast period with a market size of USD 564.51million in 2024.
• The Rest of MEA Cosmetics and Beauty market is projected to witness growth at a CAGR of 3.5%during the forecast period with a market size of USD 634.40 million in 2024.

 

Cosmetics and Beauty Market Analysis

Cosmetics and Beauty Market Product Type Segment Analysis

According to Cognitive Market Research, skincare products emerge as the dominating category. This trend is primarily fuelled by increasing consumer awareness of skincare routines, concerns about aging, and a growing emphasis on self-care. With the rise of social media influencers and beauty bloggers promoting elaborate skincare routines, consumers are increasingly investing in products such as cleansers, moisturizers, serums, and sunscreens to achieve healthy and glowing skin. Additionally, advancements in skincare technology and the introduction of innovative ingredients, such as hyaluronic acid and vitamin C, contribute to the growth of this category.

Makeup products hold a fastest-growing position in the cosmetics and beauty market, driving significant growth. The makeup category encompasses a wide range of products such as foundation, lipstick, eyeshadow, mascara, and blush, among others. The dominance of makeup products can be attributed to factors such as changing beauty trends, social media influence, and the desire for self-expression. With the proliferation of beauty influencers and makeup tutorials on platforms like YouTube and Instagram, consumers are increasingly experimenting with different makeup looks and styles.

• Skin Care 
• Hair Care 
• Make Up 
• Fragrances 
• Others

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Cosmetics and Beauty Industry. Request a Free Sample PDF!

Cosmetics and Beauty Market Application Segment Analysis

According to Cognitive Market Research, women's products are the dominating category, accounting for a significant portion of sales and driving overall market growth. This dominance can be attributed to various factors, including historical consumer behaviour, societal norms, and cultural influences. Traditionally, women have been the primary consumers of cosmetics and beauty products, with a long-standing tradition of using skincare, makeup, and hair care products to enhance their appearance and express their personal style. Moreover, the beauty industry has historically focused its marketing efforts and product development on catering to women's needs and preferences, resulting in a wide range of products specifically tailored to address various skincare concerns, makeup trends, and hair care routines.

Men’s beauty products represent the fastest-growing category in the cosmetics and beauty market, fuelled by shifting societal norms, changing gender perceptions, and evolving grooming habits among men. In recent years, there has been a notable increase in the acceptance and normalization of men's skincare, grooming, and beauty routines, driven by factors such as increased awareness of self-care, the influence of social media, and the rise of male-focused beauty influencers and celebrities. As a result, men are increasingly seeking out skincare products, hair care solutions, and grooming essentials tailored to their specific needs and concerns. Brands are responding to this growing demand by introducing dedicated men's beauty lines, offering products formulated with masculine scents, packaging designs, and marketing messages that resonate with male consumers.

• Men,
• Women

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Cosmetics and Beauty Nature Segment Analysis

According to Cognitive Market Research, organic products stand out as the dominating and fastest-growing category. This trend is primarily driven by increasing consumer awareness and demand for natural and sustainable beauty solutions. With growing concerns about the environment and personal health, consumers are gravitating towards organic cosmetics that are free from synthetic chemicals, parabens, and harmful additives. Organic beauty products are perceived to be safer, gentler on the skin, and more environmentally friendly, appealing to eco-conscious consumers seeking cleaner and greener alternatives. Additionally, the rise of clean beauty movements and endorsements from influencers and celebrities further propel the popularity of organic cosmetics. As a result, the organic segment experiences robust growth, capturing a significant share of the cosmetics and beauty market.

Inorganic cosmetics continue to maintain their dominance in the cosmetics and beauty market due to their wide availability and established market presence. While organic products are gaining traction, inorganic cosmetics still appeal to a broad consumer base, offering a diverse range of options in terms of formulation, colour, and texture. Many consumers are accustomed to using traditional cosmetics and may prefer them for their performance or affordability. Additionally, some inorganic cosmetics may incorporate advanced technologies or synthetic ingredients that deliver specific benefits, such as long-lasting wear or intense pigmentation. Despite the growing popularity of organic alternatives, inorganic cosmetics remain a staple in the beauty industry, retaining their position as a dominant category in the market.

• Inorganic 
• Organic

Cosmetics and Beauty Category Segment Analysis

According to Cognitive Market Research, mass products emerge as the dominating category, experiencing robust growth and widespread consumer adoption. This trend can be attributed to several factors, including affordability, accessibility, and diverse product offerings. Mass products cater to a broad consumer base by providing affordable options for skincare, hair care, and makeup products that are readily available in supermarkets, drugstores, and online platforms. Additionally, mass cosmetics brands invest in extensive marketing campaigns to reach a larger audience and promote their products as everyday essentials suitable for all demographics. The mass segment's dominance is further fuelled by its ability to continuously innovate and introduce new formulations, colours, and packaging designs that resonate with consumers' evolving preferences and lifestyle needs.

Premium products represent the fastest-growing category in the cosmetics and beauty market, driven by increasing consumer inclination towards luxury, quality, and indulgence. Premium beauty products command higher price points and are associated with superior ingredients, innovative technologies, and elegant packaging. Consumers are increasingly willing to invest in premium skincare, makeup, and fragrance products that offer luxury experiences and promise enhanced efficacy and results. The rise of aspirational lifestyles, social media influence, and celebrity endorsements also contribute to the growing demand for premium cosmetics. Moreover, premium beauty brands often focus on exclusivity, limited editions, and personalized services, creating a sense of prestige and exclusiveness that resonates with discerning consumers seeking elevated beauty experience.

• Mass Product 
• Premium Product 
• Professional Product

Cosmetics and Beauty Packaging Type Segment Analysis

According to Cognitive Market Research, bottles and jars emerge as the dominating packaging category. These packaging types are prevalent across various beauty products such as creams, lotions, serums, and skincare treatments. The dominance of bottles and jars can be attributed to their versatility and functionality, offering a secure and convenient way to store and dispense various cosmetic formulations. Bottles and jars provide ample space for branding and product information, making them ideal for showcasing the visual appeal of beauty products and communicating their benefits to consumers.

Tubes represent the fastest-growing category in the cosmetics and beauty market. Tubes are increasingly preferred for their portability, convenience, and hygienic benefits, particularly in products such as creams, gels, and serums. The popularity of tubes is driven by changing consumer lifestyles, including on-the-go beauty routines and travel-friendly packaging preferences. Additionally, tubes offer precise dosage control and minimize product wastage, appealing to environmentally conscious consumers seeking sustainable packaging solutions. Furthermore, advancements in tube technology, such as airless and squeeze tubes, enhance product preservation and extend shelf life, contributing to the rapid growth of this packaging category in the cosmetics and beauty market.

• Bottles and Jars 
• Tubes 
• Containers 
• Pumps & Dispensers 
• Sticks 
• Aerosol Cans 
• Pouches 
• Blisters 
• Strip Packs

Cosmetics and Beauty Distribution Channel Segment Analysis

According to Cognitive Market Research, the dominating distribution channel is offline retail. Traditional brick-and-mortar stores, including department stores, specialty beauty retailers, drugstores, and supermarkets, continue to hold a significant share of the cosmetics market. The dominance of offline channels can be attributed to factors such as the tactile nature of beauty products, allowing consumers to physically interact with testers and samples before making a purchase. Additionally, offline retail provides a personalized shopping experience, with knowledgeable staff offering product recommendations and advice tailored to individual preferences. Furthermore, physical stores offer immediate gratification, enabling consumers to take home their purchases instantly without waiting for shipping or delivery, which appeals to those seeking instant results and convenience.

The online distribution channel represents the fastest-growing category in the cosmetics and beauty market. The proliferation of e-commerce platforms, social media marketing, and digital beauty influencers has fueled the rapid growth of online sales channels. Consumers increasingly prefer the convenience of shopping for beauty products online, with the ability to browse a wide range of brands and products from the comfort of their homes. Online channels offer unparalleled convenience, enabling consumers to shop 24/7 and access product reviews, tutorials, and recommendations from fellow shoppers and beauty influencers. Moreover, online retailers often provide exclusive deals, discounts, and promotions, enticing consumers with cost-effective options and value-added services such as free shipping and hassle-free returns.

• Offline 
• Online

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.

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