Cosmetic Products Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 4.94 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Cosmetic Products Market Analysis
The Cosmetic Products Market is expected to register a CAGR of 4.94% during the forecast period.
- The increasing number of working women and rising consciousness regarding physical appearance among millennial women are the key factors driving the market growth. In addition, the rising awareness about the harmful effect of chemical compounds such as paraben and aluminium in the products is stimulating the growth of natural and organic facial cosmetic products in the market.
- Thereby, the manufacturers were focused on innovating facial cosmetics with natural ingredients. Additionally, Heritage brands are losing their popularity. They need to be updated as new storytelling brands emphasizing vegan, cruelty-free, organic, and natural concepts are trying to capture the market by offering a product that matches evolving consumer preferences.
- There is an increasing demand for long-lasting and waterproof makeup, sun protection makeup with SPF, and vitamin enhancement makeup. This, in turn, offers a lucrative opportunity to the key players in the category to innovate in the facial make-up market. For instance, in 2021, Coty Inc. expanded the Gucci beauty product line by launching Gucci Poudre De Beaut茅 Mat Naturel face powder in Asia-Pacific and European markets.
Cosmetic Products Market Trends
Inclination Toward Organic, Vegan and Cruelty-Free Cosmetic Products鈥�
- In recent years organic, cruelty-free (no animal testing), vegetarian (no byproducts of animal slaughter), and vegan (no animal ingredients at all) cosmetics market have gained increasing popularity in developed countries, and it has been finding their space in the growing market such as India, China, Brazil, etc. market. Moreover, with the advancement of vegan products, consumers are paying extra attention to a particular shade of lipstick that suits them and its manufacturing process.
- Prolonged use of synthetic cosmetics may cause various health issues, such as irritation, hormonal imbalance, and toxicity. However, cosmetic products made of organic ingredients, such as plant extracts and natural oils, do not harm the skin. Consumers have preferred vegan and organic cosmetics, which drives the market.
- Animal-free alternatives may lead companies to produce lab-grown human skin samples for testing cosmetic products. The ability to create samples on demand reduces costs and increases the accuracy of results. Advancement in techniques means that samples can replicate different skin ages and colors. The increasing demand for vegan cosmetics among millennials and technological advancements drive the market's growth.
Increasing Usage of Cosmetic Products in Asia-Pacific
- The color cosmetics industry (including the eye, facial, and lip makeup categories) is the most prosperous in India, China, and others. Local companies, such as the Shahnaz Husain Group from India, are exclusively providing herbal/ayurvedic cosmetics products due to the prolonged health benefits it offers to the skin.
- Also, premium global brands register increased sales as Indian consumers move from functional items to more advanced and specialized cosmetic products. Many international brands, like Revlon, Elle18 MAC, Sephora, L'Oreal, and Oriflame, are increasing their presence further, by introducing more products in the Indian market, particularly with convenient and attractive packaging types and vegan ingredients, to attract the youth in the country.
- According to the World's Top Exporters, China was the third-largest importer of cosmetics in the world in 2021, with a total value of about USD 18.5 billion. Hong Kong, which imported skincare and cosmetics worth over USD 7.3 billion in 2021, was the next-largest cosmetics importer in Asia-Pacific.
Cosmetic Products Industry Overview
The cosmetics products market studied is highly competitive, with many regional small- to medium-scale players and key global players such as L'oreal SA, Est茅e Lauder Inc., LVMH Mo毛t Hennessy Louis Vuitton, etc. Key players differentiate their offerings and compete on different factors, including product offerings, ingredients, packaging, price, functionality, and marketing activities, to gain a competitive advantage. Companies are increasing their investments in R&D and marketing, and they are expanding their distribution channels to maintain their position in the market. Moreover, companies are following strategies that include providing products through e-commerce (own website and third parties) websites to facilitate a larger targeted audience.
Cosmetic Products Market Leaders
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The Est茅e Lauder Companies Inc.
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L'Or茅al S.A.
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Shiseido Company, Limited
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LVMH Mo毛t Hennessy Louis Vuitton
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Revlon, Inc.
*Disclaimer: Major Players sorted in no particular order
Cosmetic Products Market News
- May 2022: Est茅e Lauder with Shoppers Stop opened an exclusive SS Beauty store in Mumbai. With this establishment, the two companies have strengthened their partnership in India. The SS beauty store will offer only Est茅e Lauder brands like MAC Cosmetics, Clinique, Bobbi Brown, Jo Malone, Estee Lauder, Smashbox, and Tom Ford.
- May 2022: Est茅e Lauder's M.A.C Cosmetics and Netflix collaborated to launch an exclusive Stranger Things makeup collection. The new products have unique shade names and limited-edition packaging inspired by the iconic Real World Hawkins High and The Upside Down.
- May 2022: L'Or茅al's Maybelline New York unveiled its newest product, Super Stay Vinyl Ink Liquid Lip Color. The no-budge vinyl color lasts up to 16 hours. Lippy, peachy, coy, red-hot, unrivaled, cheeky, witty, capricious, wicked, and royal, are among the ten colors of Super Stay Vinyl Ink Liquid Lipcolor.
Cosmetic Products Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Facial Make-up Products
5.1.2 Eye Make-up Products
5.1.3 Lip Make-up Products
5.1.4 Nail Make-up Products
5.2 Category
5.2.1 Mass
5.2.2 Premium
5.3 Distribution Channel
5.3.1 Hypermarkets/Supermarkets
5.3.2 Specialty Stores
5.3.3 Online Retail Stores
5.3.4 Pharmacies and Drug Stores
5.3.5 Other Distribution Channels
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 United Kingdom
5.4.2.2 Germany
5.4.2.3 Spain
5.4.2.4 France
5.4.2.5 Italy
5.4.2.6 Russia
5.4.2.7 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East & Africa
5.4.5.1 United Arab Emirates
5.4.5.2 South Africa
5.4.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 The Est茅e Lauder Companies Inc.
6.3.2 L'Or茅al S.A.
6.3.3 Shiseido Company, Limited
6.3.4 Oriflame Holding AG
6.3.5 LVMH Mo毛t Hennessy Louis Vuitton
6.3.6 JAB Cosmetics B.V. (Coty, Inc.)
6.3.7 Natura & Co
6.3.8 Revlon, Inc.
6.3.9 Huda Beauty
6.3.10 Puig
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Cosmetic Products Industry Segmentation
Any product intended to maintain, enhance, or modify the appearance of the skin, hair, and nails is referred to as a "cosmetic."
The market studied is segmented by product type, category, distribution channel, and geography. Based on product type, the market studied is segmented into facial make-up products, eye make-up products, lip make-up products, and nail make-up products. Based on category, the market is segmented into mass and premium. Also, based on distribution channels, the market studied is segmented into specialty stores, supermarkets/hypermarkets, pharmacy/drug stores, online retail stores, and other distribution channels. The study also covers the global analysis of the major regions, such as North America, Europe, Asia-Pacific, South America, the Middle East, and Africa.
For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| Product Type | |
| Facial Make-up Products | |
| Eye Make-up Products | |
| Lip Make-up Products | |
| Nail Make-up Products |
| Category | |
| Mass | |
| Premium |
| Distribution Channel | |
| Hypermarkets/Supermarkets | |
| Specialty Stores | |
| Online Retail Stores | |
| Pharmacies and Drug Stores | |
| Other Distribution Channels |
| Geography | |||||||||
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Cosmetic Products Market Research FAQs
What is the current Cosmetic Products Market size?
The Cosmetic Products Market is projected to register a CAGR of 4.94% during the forecast period (2024-2029)
Who are the key players in Cosmetic Products Market?
The Est茅e Lauder Companies Inc., L'Or茅al S.A., Shiseido Company, Limited, LVMH Mo毛t Hennessy Louis Vuitton and Revlon, Inc. are the major companies operating in the Cosmetic Products Market.
Which is the fastest growing region in Cosmetic Products Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Cosmetic Products Market?
In 2024, the North America accounts for the largest market share in Cosmetic Products Market.
What years does this Cosmetic Products Market cover?
The report covers the Cosmetic Products Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Cosmetic Products Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the key factors driving the Cosmetics Market?
The key factors driving the Cosmetics Market are a) Growing convenience and accessibility of online shopping platforms fuel purchase of cosmetic products b) Increased interest in tailored beauty solutions are catering to individual skin types, concerns, and preferences
Cosmetic Products Industry Report
The global cosmetics market is experiencing significant growth, driven by an aging population's increasing demand for skincare and personal care products, as well as a surge in fashion trends and innovative product formulations. Market leaders are capitalizing on a shift towards natural and organic ingredients, reflecting a rise in health awareness and eco-consciousness among consumers. The skincare segment stands out, propelled by a demand for anti-aging and nurturing benefits, alongside the popularity of personalized skincare in affluent regions. Simultaneously, the hair care sector is flourishing, influenced by evolving fashion sensibilities and concerns over hair health.
Despite the dominance of offline sales channels, online platforms are rapidly expanding, providing convenience and accessibility to consumers. This shift is evident in the market segmentation, which includes hypermarkets/supermarkets, specialty stores, pharmacies and drug stores, online retail stores, and other distribution channels. The push for eco-friendly and sustainable cosmetics is opening new market avenues, mirroring a societal shift towards inclusivity and broadening product offerings, including those aimed at men's grooming.
The industry analysis highlights the market size, market share, and market value, offering a comprehensive market overview and market review. The industry reports provide detailed market data, industry statistics, and market predictions, ensuring an informed market outlook. The report pdf serves as an essential resource for understanding market growth and market forecast, covering key industry trends and market segmentation. The industry information and industry research within the report example offer valuable insights into the industry's growth rate and industry size, contributing to a well-rounded understanding of the global market.
In summary, the cosmetics market's trajectory is shaped by numerous factors, including consumer preferences for natural ingredients, the rise of online retail, and a growing emphasis on sustainability. The industry outlook remains positive, with market leaders continuing to innovate and adapt to changing consumer demands. This comprehensive industry research and market analysis provide a detailed view of the market's current state and future potential, making it an indispensable tool for stakeholders and research companies.
