Cosmetics & Personal Care

In the future, the cosmetics and personal care industry is predicted to record gains within all segments. Particularly strong growth is expected for sun protection and anti-aging products as consumers become increasingly aware of the dangers of sun exposure and more concerned with preserving a youthful appearance. Emerging nations represent huge potential for international companies, offering better quality products than locally produced goods to populations with rising income levels.

Rising income means that consumers are more concerned with product effectiveness and ingredients used rather than cheaper products. Manufacturers are, therefore, focused on advertising their products as superior to those of rival companies, rather than systematically seeking to undercut market prices. Digitalization and the coronavirus pandemic have shifted cosmetics and personal care into the online realm, where shoppers have access to a wide range of products, reviews, and delivery options.

Beauty & personal care global market size
500bn USD
Most valuable cosmetics brand
L'Oréal Paris
Leading cosmetics market
North Asia

Market size

Beauty and personal care market grows steadily year-on-year

Beauty and personal care market value worldwide from 2018 to 2028, by category (in billion U.S. dollars)

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Further details: Visit original statistic Beauty and personal care market value worldwide from 2018 to 2028, by category (in billion U.S. dollars)

The global beauty and personal care market was estimated to be worth more than 500 billion U.S. dollars in 2022. By 2026, the market is projected to reach over 600 billion U.S. dollars in value. The ongoing growth of the industry displays the consumer's sustained interest in beauty and cosmetic regimes, as well as in basic personal care and hygiene practices.

Cosmetics industry worldwide
Cosmetics industry in the U.S.
Cosmetics in Asia Pacific

Market segments

Skincare makes up the largest share of the market

Breakdown of the cosmetic market worldwide from 2011 to 2022, by product category

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Skincare products made up 41 percent of the total global cosmetics market in 2022. Haircare and make-up ranked in second and third places, with market shares of 22 percent and 16 percent, respectively.

Skincare's share of the total cosmetics market has increased in recent years; the industry has witnessed a shift from demand from older consumers to a growing younger consumer base. People are beginning to use skin care at an increasingly young age in a bid to delay the signs of aging.

Skin care market in the U.S.
Skin care market in South Korea
Skin care in the UK

Industry trends

All-natural products are important to consumers

Revenue of the natural cosmetics market worldwide from 2015 to 2028 (in billion U.S. dollars)

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Consumers are shopping in a more sustainable way, increasingly choosing all-natural beauty products, as well as items with claims such as chemical-free, organic, and plant-based. This trend can be observed across many other consumer goods categories, and even younger generations are more and more interested in this product types. The global revenue of the natural and organic cosmetics market added up to nearly 12 billion U.S. dollars in 2022, and it was forecast to notably increase by 2027.

Natural and organic cosmetics in the U.S.
Natural and organic cosmetics in the UK
Natural cosmetics market in Italy

Industry leaders

L'Oréal is ranked as the top global beauty manufacturer

Revenue of the leading 10 beauty manufacturers worldwide in 2022 (in billion U.S. dollars)

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L'Oréal's worldwide revenue totaled over 35 billion U.S. dollars in 2021, over 10 billion U.S. dollars more than their closest competitor - Unilever. Other leading beauty manufacturers include Estée Lauder Companies and Procter & Gamble.

Founded in 1909, the L'Oréal Group has become the largest cosmetics and beauty company in the world. Globally, the company employs around 85,000 people. Around 21,000 employees are located in Europe and about 34,500 in North Asia.

L'Oréal: Shaping the future of beauty
Estée Lauder Companies Inc.
Procter & Gamble

Regional overview

North Asia dominates the market

Breakdown of the cosmetic market worldwide in 2022, by geographic zone

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The shift in consumers' needs and priorities heavily influenced the beauty market, alongside emerging trends and markets like the K-Beauty one. In 2022, North Asia took the top spot for the largest cosmetic market globally, with a market share of 32 percent. This was followed by North America and Europe, with a market share of 28 and 22 percent, respectively.

Cosmetics market in China
Cosmetics market in Japan
Cosmetics market in Brazil

State of the industry

  • Beauty and personal care e-commerce in the United States
  • Cosmetics market in China
  • Cosmetics market in the United Kingdom (UK)
  • Cosmetics industry worldwide
  • Cosmetics market in Russia
  • Prestige/luxury cosmetics market
  • Cosmetics in the Asia-Pacific region
  • Cosmetics market in Vietnam
  • Cosmetics market in Poland

Industry definition

The cosmetics and personal care market is usually divided into five main business segments: skincare, haircare, make-up, fragrances and toiletries. These segments are complementary and through their diversity able to satisfy all consumers’ needs and expectations with regard to cosmetics. Beauty products can be subdivided into premium and mass production segments, according to the brand prestige, price, and distribution channels used. As in many other consumer goods industries, natural and organic cosmetics and personal care products are widely available to consumers and make up a large share of the market.

Some of the market leaders within this industry include L'Oréal, Estée Lauder Companies, Procter & Gamble, Beiersdorf, and Shiseido. Data on market size, segmentation, regional outlooks, shopping behavior, and company facts can be found on the Statista platform.

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