Cosmetic Market Trend Analysis Report by Category ( Skin & sun care products, Hair care products, Deodorants & fragrances, Makeup & color cosmetics; By Gender: Men, Women, Unisex; By Distribution Channel: Hypermarkets/Supermarkets, Specialty Stores, Pharmacies, Online sales channels, Other),& Region (North America, Europe, APAC, MEA, South America) - Global Forecast to 2030
Pages: 300 | Jun-2024 Formats | PDF | Category: Consumer Goods | Delivery: 24 to 72 Hours
Cosmetic Market Overview
Cosmetic Market is expected to grow rapidly at a 5.5% CAGR consequently, it will grow from its existing size of from $ 401 Billion in 2023 to $ 589 Billion by 2030.
For Insights Consultancy presents an extensive market analysis report titled “Cosmetic Market Report 2024″providing businesses with an edge in competition by providing a thorough analysis of market structures with estimates for various segmentations and segments.
The report also focuses new trends, major drivers, challenges, as well as opportunities. The report provides all necessary information needed to thrive in the Cosmetic industry. This report is about Cosmetic market research provides a complete analysis, which includes a comprehensive analysis of the current and future trends in the market.
Cosmetics are a lucrative and dynamic industry, characterized by constant innovations and changing consumer preferences. In recent years there has been an important shift to natural and organic products due to the growing awareness of sustainability and concerns about health. The major players on the market continue investing heavily in research and technology to meet these demands.
The rise of influencer marketing and social media has also profoundly affected consumer behavior. Trends are spreading quickly online, driving sales. The digital influence of beauty products has risen, particularly among the younger demographic.
The industry faces other challenges, such as the scrutiny of regulatory agencies over safety of ingredients and environmental sustainability. Brands are under increasing pressure to demonstrate ethical and transparent practices across their supply chains.
Despite these challenges the global cosmetics market continues to grow, with Asia-Pacific, Latin America and other emerging markets showing a robust growth potential. The cosmetics industry is highly dynamic and competitive, and companies are constantly trying to adapt and innovate to the changing regulatory and consumer landscapes.
Cosmetic Market Trends 2024
- Sustainability Beauty: Customers are prioritizing environmentally-friendly products. This trend includes everything from recycled packaging to ingredients sourced ethically and formulations that are cruelty-free. Sustainability-oriented brands are increasingly popular with environmentally conscious consumers.
- Tech Driven Personalization Technology continues to play an important role in cosmetics, as personalized beauty solutions continue to rise. Artificial intelligence and augmented realities are enabling brands and retailers to provide tailored product recommendations, virtual try-ons and enhance the consumer’s shopping experience.
- Clean Beauty Movement The clean beauty movement has gained momentum as consumers seek products that are free of potentially harmful ingredients like parabens and sulfates. In response to this growing demand, brands are formulating products that have simpler and transparent ingredient lists.
- Inclusive beauty: Diversity, inclusivity and diversity are important to the cosmetics industry. Brands are expanding shade ranges in order to accommodate a greater range of skin shades and launching campaigns that celebrate diversity. This trend is a reflection of a growing need for inclusivity and representation in beauty standards.
- Wellness Integration The boundaries between skincare, cosmetics and wellness products are blurring as a result of a growing focus on holistic beauty regimens. The consumer is looking for products that will not only improve their appearance, but also enhance their overall health. Beauty supplements, adaptogenic skin care, and products with CBD and other wellness ingredients are all a result of this trend.
In 2024, the cosmetics market will be characterized by technological innovation, sustainability and inclusivity. Brands will strive to meet consumers’ changing needs and preferences.
Cosmetic Market Dynamics 2024
Growth Drivers
- Increased Disposable Income Consumers can spend more money on cosmetics and treatments, particularly in emerging economies.
- Product Development and Innovation: Constant innovation in packaging, formulations, and technology keeps the market alive and dynamic. The market is growing thanks to new product launches, advancements in skincare products and makeup.
- Influencer and Social Media Marketing: Influencer marketing and social media platforms play an important role in influencing consumer trends and purchase decisions. Beauty influencers, online communities and social media platforms create buzz about products that leads to increased sales.
- Health and Wellness: A growing awareness of health and wellbeing drives the demand for cosmetics that contain natural, organic and clean ingredients. The consumer wants products that will not only improve their appearance, but also improve the health of their skin and well-being.
- Globalization & Market Expansion : The expansion of cosmetic brands to new markets and the globalization of beauty products fuels market growth. The growth of emerging economies is a result of urbanization and lifestyle changes.
Restraints
- Regulatory challenges: Strict regulations regarding the safety of ingredients, labeling requirements and product testing may pose a challenge to cosmetic companies. This can lead to higher compliance costs and delays for product launches.
- Pricing Sensitivity The price sensitivity of consumers can influence their purchasing decisions, particularly in uncertain economic times. Luxury and premium cosmetic brands can face difficulties in attracting budget conscious consumers.
- Environmental Concerns A growing awareness of environmental issues such as plastic pollution, deforestation and climate change has increased scrutiny on the environmental impact of cosmetics. Brands face increasing pressure to reduce their carbon footprint and adopt sustainable practices.
- Counterfeit Product: The proliferation of counterfeit cosmetics is a threat to the reputation and revenue of legitimate brands. Counterfeit cosmetics may contain harmful chemicals and not meet quality standards. This puts the health and safety of consumers at risk.
- Consumer Preferences Shifts: Rapid shifts in consumer preferences can be challenging for cosmetic companies. They must remain agile and quickly adapt to changing market demands.
While the cosmetics market is a growing industry, there are many challenges and constraints that companies need to overcome in order to be successful.
Cosmetic Market Segment Analysis
The cosmetics market is divided into several categories that cater to the different needs and preferences of consumers.
- Skincare : This segment consists of products like moisturizers and cleansers that are designed to maintain and improve skin health. Skincare products are in demand due to growing concerns over aging, skin sensitivity, and pollution.
- Makeup : Makeup includes foundation, lipsticks, mascaras, eyeshadows, and blushes. Makeup is used by consumers to enhance their appearance, express creativity and follow trends. This has led to a diverse market.
- Haircare : Products like shampoos and conditioners, styling products, and hair treatments are designed to address hair issues such as damage, frizz, and dryness. Hair texture, hair style preferences and hair health are factors that influence the demand for haircare products.
- Fragrances : Fragrances are perfumes, colognes and body sprays. These products are appealing to consumers who want to express their own scent preferences. They also provide a sensory experience. Fragrance trends are influenced by seasonal and cultural factors.
- Men’s Grooming : The segment of men’s grooming includes products such as shaving creams and aftershaves. It also includes facial cleanser, grooming tools, and other grooming accessories. This segment is growing due to the increasing awareness of men’s personal grooming and their desire for specialized products.
- Natural & Organic: This segment is devoted to products that are made with natural ingredients and free of synthetic chemicals. The demand for these products is driven by the growing interest of consumers in sustainable living and healthy choices.
Brands can target and capitalize on specific consumer preferences by targeting each segment of the cosmetics market.
By Category
- Skin & sun care products
- Hair care products
- Deodorants & fragrances
- Makeup & color cosmetics
By Gender
- Men
- Women
- Unisex
By Distribution Channel
- Hypermarkets/Supermarkets
- Specialty Stores
- Pharmacies
- Online Sales Channels
- Other
Competitive Landscape of the Cosmetic Market
Cosmetics market is highly competitive, with a wide range of regional and global players competing to gain market share. The industry is dominated by:
- L’Oreal As one of the largest cosmetic companies in the world, L’Oreal is active across many segments, including skincare, haircare and makeup. Its diverse portfolio of brands including L’Oreal Paris and Maybelline New York makes it a leader in this industry.
- Estee Lauder Companies Estee Lauder, a multinational company, is a manufacturer and marketer for prestige skincare, cosmetics, fragrances, and haircare. Portfolio of the company includes such well-known brands as Estee, Clinique, MAC Cosmetics and Bobbi.
- Procter & Gamble : P&G, through its beauty division, is a major player within the cosmetics industry. This includes brands such as Olay, SK-II Pantene and Gillette. To maintain its competitiveness, the company places a high priority on brand building and innovation.
- Unilever Unilever’s beauty and personal-care division includes brands such as Dove, Axe and Tresemme. To appeal to a wide range of consumers, the company’s product line emphasizes sustainability and inclusivity.
- Coty Inc. : Coty, a global beauty brand, has iconic brands like CoverGirl and Rimmel. The company is leveraging digital marketing and partnerships in order to grow its business.
- Shiseido Company Shiseido Company is a Japanese multinational known for skincare, cosmetics, and fragrance products. Shiseido, NARS and bareMinerals are among the diverse brands that target different consumer segments around the world.
The cosmetic industry also features a number of niche and independent brands that cater to consumer preferences and needs, which contributes to its overall competitiveness. In this dynamic, competitive environment, companies must be able to survive and thrive through continuous innovation, strategic partnership, and effective marketing.
- Avon Products Inc.
- Kao Corporation
- L’Oreal S.A.
- Oriflame Cosmetics S.A.
- Revlon Inc.
- Shiseido Company Limited
- Skin Food Co. Ltd.
- The Estee Lauder Companies Inc.
- The Procter & Gamble Company
New Developments
- May 2022: Estée 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 Estée Lauder brands like MAC Cosmetics, Clinique, Bobbi Brown, Jo Malone, Estee Lauder, Smashbox, and Tom Ford.
- May 2022: Estée 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’Oréal’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 Market Regional Outlook
The cosmetics market is dynamic in different regions. It reflects the unique consumer preferences and influences of socio-economic factors.
- North America : The North American Cosmetic Market is marked by a high demand for innovative and premium products. This is due to a growing focus on wellness and self-care. Influencer culture, social media and the influence of celebrities are key factors in shaping consumer preferences in this region.
- Europe : Europe is a major cosmetics market, with France, Germany and the UK at the top. In Europe, consumers prioritize quality, efficacy and sustainability. This is what drives the demand for organic and natural products. Regulations regarding animal testing and ingredient safety influence product formulations.
- Asia-Pacific The Asia-Pacific region has experienced rapid growth on the cosmetics market. This is due to rising disposable incomes and urbanization as well as a growing middle-class. South Korea and Japan have a reputation for innovative skincare and cosmetics, while China is a huge market that has a growing demand for both local and international brands.
Frequently Asked Questions
How much is the cosmetics market size?
Cosmetic Market is expected to grow rapidly at a 5.5% CAGR consequently, it will grow from its existing size of from $ 401 Billion in 2023 to $ 589 Billion by 2030.
Who are the major players operating in the cosmetics market?
The major market player includes Avon Products Inc., Kao Corporation, L’Oreal S.A., Oriflame Cosmetics S.A., Revlon, Inc., Shiseido Company Limited, Skin Food Co., Ltd., The Estee Lauder Companies Inc., The Procter & Gamble Company and Unilever Plc..
Which are the driving factors of the cosmetics market?
The surge in demand for organic cosmetics products and the rapid growth in consumers disposable income are the growth driving factors of the cosmetics market.
Which segment is expected to hold the largest share in the cosmetics market?
The skin and sun care products held the largest revenue share in the cosmetics market.
Report Features
This report gives the most complete information. The report on Cosmetic Market format has been designed so that it can provide the best value to the business. It offers crucial insights into the market’s dynamic and will aid in strategic decision-making for current players as well as those looking to join the market.
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Market forecast and trend data and |
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Market segment analysis and |
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Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Cosmetics Market, By Category
7.1. Cosmetics Market, by Category Type, 2023-2030
7.1.1. Skin & sun care products
7.1.1.1. Market Revenue and Forecast (2018-2030)
7.1.2. Hair care products
7.1.2.1. Market Revenue and Forecast (2018-2030)
7.1.3. Deodorants & fragrances
7.1.3.1. Market Revenue and Forecast (2018-2030)
7.1.4. Makeup & color cosmetics
7.1.4.1. Market Revenue and Forecast (2018-2030)
Chapter 8. Global Cosmetics Market, By Gender
8.1. Cosmetics Market, by Gender, 2023-2030
8.1.1. Men
8.1.1.1. Market Revenue and Forecast (2018-2030)
8.1.2. Women
8.1.2.1. Market Revenue and Forecast (2018-2030)
8.1.3. Unisex
8.1.3.1. Market Revenue and Forecast (2018-2030)
Chapter 9. Global Cosmetics Market, By Distribution Channel
9.1. Cosmetics Market, by Distribution Channel, 2023-2030
9.1.1. Hypermarkets/Supermarkets
9.1.1.1. Market Revenue and Forecast (2018-2030)
9.1.2. Specialty Stores
9.1.2.1. Market Revenue and Forecast (2018-2030)
9.1.3. Pharmacies
9.1.3.1. Market Revenue and Forecast (2018-2030)
9.1.4. Online sales channels
9.1.4.1. Market Revenue and Forecast (2018-2030)
9.1.5. Others
9.1.5.1. Market Revenue and Forecast (2018-2030)
Chapter 10. Global Cosmetics Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Category (2018-2030)
10.1.2. Market Revenue and Forecast, by Gender (2018-2030)
10.1.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Category (2018-2030)
10.1.4.2. Market Revenue and Forecast, by Gender (2018-2030)
10.1.4.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Category (2018-2030)
10.1.5.2. Market Revenue and Forecast, by Gender (2018-2030)
10.1.5.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Category (2018-2030)
10.2.2. Market Revenue and Forecast, by Gender (2018-2030)
10.2.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Category (2018-2030)
10.2.4.2. Market Revenue and Forecast, by Gender (2018-2030)
10.2.4.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Category (2018-2030)
10.2.5.2. Market Revenue and Forecast, by Gender (2018-2030)
10.2.5.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Category (2018-2030)
10.2.6.2. Market Revenue and Forecast, by Gender (2018-2030)
10.2.6.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Category (2018-2030)
10.2.7.2. Market Revenue and Forecast, by Gender (2018-2030)
10.2.7.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Category (2018-2030)
10.3.2. Market Revenue and Forecast, by Gender (2018-2030)
10.3.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Category (2018-2030)
10.3.4.2. Market Revenue and Forecast, by Gender (2018-2030)
10.3.4.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Category (2018-2030)
10.3.5.2. Market Revenue and Forecast, by Gender (2018-2030)
10.3.5.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Category (2018-2030)
10.3.6.2. Market Revenue and Forecast, by Gender (2018-2030)
10.3.6.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Category (2018-2030)
10.3.7.2. Market Revenue and Forecast, by Gender (2018-2030)
10.3.7.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Category (2018-2030)
10.4.2. Market Revenue and Forecast, by Gender (2018-2030)
10.4.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Category (2018-2030)
10.4.4.2. Market Revenue and Forecast, by Gender (2018-2030)
10.4.4.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Category (2018-2030)
10.4.5.2. Market Revenue and Forecast, by Gender (2018-2030)
10.4.5.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Category (2018-2030)
10.4.6.2. Market Revenue and Forecast, by Gender (2018-2030)
10.4.6.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Category (2018-2030)
10.4.7.2. Market Revenue and Forecast, by Gender (2018-2030)
10.4.7.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Category (2018-2030)
10.5.2. Market Revenue and Forecast, by Gender (2018-2030)
10.5.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Category (2018-2030)
10.5.4.2. Market Revenue and Forecast, by Gender (2018-2030)
10.5.4.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Category (2018-2030)
10.5.5.2. Market Revenue and Forecast, by Gender (2018-2030)
10.5.5.3. Market Revenue and Forecast, by Distribution Channel (2018-2030)
Chapter 11. Company Profiles
11.1. Avon Products Inc.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Kao Corporation
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. L’Oreal S.A.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Oriflame Cosmetics S.A.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Revlon, Inc.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Shiseido Company Limited
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Skin Food Co., Ltd.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. The Estee Lauder Companies Inc.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. The Procter & Gamble Company
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Unilever Plc.
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
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