Luxury Cosmetics Market Report 2024 (Global Edition)

Global Luxury Cosmetics Market Report 2024 Market Size Split by Type (Organic, Conventional), by End User (Male, Female), by Product Type (Skincare, Haircare, Makeup, Fragrances), by Distribution Chan...

Luxury Cosmetics Market Report Description

We have various report editions of Luxury Cosmetics Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Luxury Cosmetics Market Insights Video

Competitive Landscape of Luxury Cosmetics Market

The major players rapidly evolve with new strategies to attain a competitive edge and capture significant market share. The major Luxury Cosmetics product market participants emphasize expanding creative offerings to serve a large consumer base and gain a competitive benefit.

Luxury Cosmetics Industry News

• October 2021, Groupe Rocher advised on the acquisition of SABON luxury cosmetics outlets in Romania and the Czech Republic at all stages of the deal, including legal due diligence, preparing and negotiating acquisition contracts, obtaining regulatory and antitrust approvals, and closing.
• April 2023, L'Oréal SA, the French skincare conglomerate, has agreed to pay $2.53 billion for the acquisition of luxury cosmetics brand Aesop, which was started in Melbourne before establishing a cult global following.

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

• Avon Products Inc. (Natura & Co.)
• Coty Inc.
• Estée Lauder Companies Inc.
• Kao Corporation
• Kosé Corporation
• L'Oréal S.A.
• LVMH Moët Hennessy Louis Vuitton
• Oriflame Cosmetics AG
• Puig
• Revlon Inc.
• Shiseido Company Limited
• Tatcha LLC.
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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.

In terms of revenue, the North America Luxury Cosmetics Market share was 40% of the total market

According to Cognitive Market Research, North America dominated the market in 2023 and accounted for around 40% of the global revenue; because the region has a high disposable income, consumers may afford to invest in high-end cosmetic goods. A high emphasis on self-care and beauty is driving demand for premium cosmetics. Furthermore, a diverse and aging population values skincare and anti-aging products. E-commerce and digital beauty trends are also contributing to the growth. Furthermore, rising consumer knowledge of sustainability and clean beauty techniques aligns with consumer tastes, driving additional growth in the North American luxury cosmetics sector.

Europe is the fastest-growing category due to the increased demand for cosmetics in this region. Furthermore, the rising spending power of this region's customers propels the industry. Because Europe offers appealing potential for the consumer products sector, the market is expected to rise significantly over the forecast period. Furthermore, increasing consumer preferences in the region toward purchasing organic cosmetics is boosting market expansion.

The current report Scope analyzes Luxury Cosmetics 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 Luxury Cosmetics Market

North America Luxury Cosmetics Market Analysis:

According to Cognitive Market Research, North America held the major market share in 2023 and accounted for more than 40% of the global revenue and has a market size of 20.20 USD Billion. In the luxury cosmetics sector, North America is an important and active region. Several causes are driving the region's growth. Luxury cosmetics are more available due to high discretionary income levels, particularly in the United States and Canada. The population's significant emphasis on personal appearance and self-care contributes to increased demand for high-end cosmetic products. The second-largest segment is makeup. The industry is being pushed by rising demand for color cosmetics and natural makeup. The luxury cosmetics business in North America is thriving thanks to high discretionary incomes, a focus on self-care, and the prevalence of e-commerce. Product categories ranging from skincare to fragrances assure a broad appeal. The market will expand further as sustainability and clean beauty gain traction.

Europe Luxury Cosmetics Market

Europe Luxury Cosmetics Market Analysis:

According to Cognitive Market Research, the European Luxury Cosmetics product market accounted for approximately 32% of the global revenue and has a market size of 16.16 USD Billion. High disposable incomes, a strong culture of self-care, and a growing desire for premium skincare products drive the industry. Rising disposable incomes, urbanization, and a greater awareness of premium brands are credited to the growth. Europe is a big market for luxury cosmetics, with Italy and Spain playing major roles. The region is well-known for its strong beauty and fashion culture. Women are the primary purchasers of high-end cosmetics. However, the market for men's luxury cosmetics is rapidly expanding, driven by rising disposable incomes and increased knowledge of grooming goods. During the forecast period, the European luxury cosmetics market is predicted to rise steadily, driven by high discretionary incomes, a strong culture of self-care, and rising demand for premium goods. 

Asia Pacific Luxury Cosmetics Market

Asia Pacific Luxury Cosmetics Market Analysis:

According to Cognitive Market Research, Asia Pacific held a considerable market share in 2023, accounting for more than 20% of the global revenue, and has a market size of 10.10 USD Billion. In the luxury cosmetics sector, Asia Pacific is a booming and very promising region. Several major factors are driving market expansion in this region. Asia Pacific has a growing middle-class population with increased disposable income, particularly in China, Japan, and South Korea. These customers are becoming more interested in high-end cosmetic items. The skincare category has the highest revenue share in the worldwide luxury cosmetics market. Skincare goods include items intended to cleanse, moisturize, and protect the skin. Cleansers, moisturizers, serums, sunscreens, and treatments such as anti-aging creams fall into this area. Because of its burgeoning middle-class population, rising disposable incomes, and changing beauty tastes, the Asia Pacific luxury cosmetics market has enormous growth potential.

South America Luxury Cosmetics Market

South America Luxury Cosmetics Market Analysis:

According to Cognitive Market Research, South America accounted for over 5% of the global Luxury Cosmetics product revenue in 2023 and has a CAGR of 5.5%. A big and increasing middle class, a strong culture of self-care, and a growing desire for premium skincare products are driving the industry. A burgeoning middle class, more urbanization, and increased awareness of premium brands are driving the industry. Rising disposable incomes and increased demand for premium products are ascribed to the expansion. Fragrance and haircare are smaller categories that are steadily developing. The increase can be ascribed to increased demand for niche perfumes and premium haircare products. The South American luxury cosmetics market is predicted to expand gradually over the forecast period, owing to a large and increasing middle class, a strong culture of self-care, and rising demand for premium goods.

Middle East and Africa Luxury Cosmetics Market

Middle East and Africa Luxury Cosmetics Market Analysis:

According to Cognitive Market Research, the Middle East and Africa accounted for over 3% of the global revenue in 2023 and a market CAGR of 5.6%. The Middle East and Africa offer a distinct environment for the luxury cosmetics business. While the region has had significant economic progress and an expanding middle class, cultural and religious issues impact consumer behavior. The Middle Eastern market, particularly in countries like the UAE and Saudi Arabia, is driven by high disposable incomes and a desire for premium beauty items such as perfumes, skincare, and luxury makeup. 

Products in the traditional cosmetics market may contain synthetic and natural components. While these goods have been the standard for decades, they are now being scrutinized due to concerns about potentially hazardous ingredients and their environmental impact. The Middle East and Africa luxury cosmetics business is a complicated mix of cultural traditions, economic differences, and consumer tastes. While the Middle East has a more robust market with considerable demand for luxury cosmetic products, Africa has significant untapped potential.

Luxury Cosmetics Market Analysis

Luxury Cosmetics Type Segment Analysis

According to Cognitive Market Research, conventional sales hold a prominent market share due to their ease of industrial manufacture. They have a longer shelf life than organic items and are less expensive to produce. Their popularity is growing among large cosmetic companies, natural cosmetics companies, contract manufacturers, formulators, and product creators.

Organic is the fastest-growing category over the forecast period due to the increased demand from consumers. Many people are becoming more health conscious and choose organic and natural items. Compared to conventional cosmetic products, organic cosmetics are chemical-free and have no adverse effects. Furthermore, strict regulatory laws have compelled enterprises in the cosmetics industry to introduce organic products rather than chemical items.

• Organic
• Conventional

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 Luxury Cosmetics Industry. Request a Free Sample PDF!

Luxury Cosmetics End User Segment Analysis

According to Cognitive Market Research, females hold a prominent market share. Females are generally worried about their looks and appearance, which leads to a higher demand for cosmetics among these consumers. As a result, the female segment accounts for a sizable portion of the market. Furthermore, the expanding number of female workers is expected to accelerate segmental growth.

The male is the fastest-growing category over the forecast period. Because of shifting views about grooming and self-care, the male end-user segment is rising in the luxury cosmetics market. Men are increasingly using skincare and cosmetics items in their daily lives. Luxury firms are responding to this transition by expanding their product lines to cater to male clients, offering high-quality, specialist grooming and skincare goods. As societal norms shift, male self-care and grooming products are becoming more popular, fueling the expansion of this category within the luxury cosmetics market.

• Male
• Female

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

Luxury Cosmetics Product Type Segment Analysis

According to Cognitive Market Research, skincare held the major market share over the forecast period due to a wide variety of skincare cosmetics such as skin tone enhancers, moisturizers, skin lightening, and others, consequently leading to increased sales from such a segment. Furthermore, the growing popularity of anti-aging skincare products is projected to fuel the growth of this segment.

Because of its widespread use, the haircare segment will experience the fastest increase over the projection period. The increased demand for hair care products is driven mostly by rising air pollution and an older population. Expanding hair-related issues, together with expanding fashion sector trends, are likely to contribute to category growth over the projection period.

• Skincare
• Haircare
• Makeup
• Fragrances

Luxury Cosmetics Distribution Channel Segment Analysis

According to Cognitive Market Research, specialty and mono brand stores hold a prominent market share. The majority of customers who purchase high-end cosmetics seek personalized attention and assistance. Customers choose specialty and mono-brand stores because they provide personalized counseling to them. As a result, this segment is expected to develop significantly throughout the projection period.

Online is the fastest-growing category over the forecast period; aside from the numerous online luxury cosmetic products, the category is being driven by the increasing prevalence of delivery services and app-based merchants, which are extremely popular among consumers. Furthermore, the exchange or return policy on internet platforms encourages consumers to make more online purchases of luxury cosmetic products

• Supermarkets and Hypermarkets
• Specialty and Monobrand Stores
• Online Stores
• Others

Author's Detail

Sneha Mali

Research Analyst at Cognitive Market Research

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Profile

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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