Global Cosmetics Market Expected to Reach USD 629.7 Billion by 2033 - IMARC Group

November 27, 2024 | Retail

Global Cosmetics Market Statistics, Outlook and Regional Analysis 2025-2033

The global cosmetics market size was valued at USD 419.8 Billion in 2024, and it is expected to reach USD 629.7 Billion by 2033, exhibiting a growth rate (CAGR) of 4.6% from 2025 to 2033.

Cosmetics Market

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The global cosmetics market has experienced significant growth, driven by rising consumer awareness and demand for personal grooming and skincare products. In 2023, the market's retail sales reached $446 billion, marking a 10% increase from the previous year. The skincare segment, in particular, has seen substantial growth, accounting for 40% of the global market in 2023. Besides this, ongoing technological advancements have also played a pivotal role in strengthening the market growth. The integration of artificial intelligence (AI) in product development and personalized beauty solutions has enhanced consumer engagement and satisfaction. For instance, in 2024, South Korean cosmetics giant AmorePacific opened an artificial intelligence (AI) beauty lab, where robots custom-mix face products and recommend the most suitable lipstick colors. Analysts suggest that using AI instead of human consultants could speed up product development and reduce variables, thereby propelling the market forward.

Additionally, the proliferation of social media platforms has amplified beauty trends and product awareness, influencing purchasing behaviors across various demographics. Concurrent with this, the increasing number of working women globally has further boosted product demand, as disposable incomes rise and spending on beauty products increases. Emerging markets, particularly in the Asia-Pacific region, have become significant contributors to market growth. In 2023, Asia-Pacific accounted for almost a third of the global market, with China experiencing a 3% growth. Moreover, the trend towards natural and organic products has also gained momentum, with consumers seeking products free from harmful chemicals, thereby driving innovation and diversification within the industry. Furthermore, e-commerce has revolutionized product accessibility, offering consumers a wide range of options and convenience, which has been instrumental in market expansion. The men's grooming segment is another area of growth, with increasing acceptance and use of cosmetics among men contributing to the market expansion.

Global Cosmetics Market Statistics, By Region

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share on account of advancements in product formulations and innovative technologies.

North America Cosmetics Market Trends:

The demand for cosmetics in North America is propelled by the trend of premiumization and customization in beauty products, with consumers increasingly seeking high-quality skincare tailored to specific needs. This growth is especially evident in the USA, where the market was valued at USD 19.7 billion in 2023 and is projected to grow at a CAGR of 3.2% between 2024 and 2032, reaching nearly USD 26.6 billion by 2032. Besides this, innovative packaging solutions, such as airless pump bottles and travel-friendly pouches, are also capturing consumer attention, fostering a sense of luxury and convenience. Additionally, the rise of online shopping, facilitated by increased internet accessibility and smartphone penetration, has expanded the reach of cosmetic products, contributing to market expansion.

Asia-Pacific Cosmetics Market Trends:

Rapid urbanization and social media influence are boosting cosmetics demand in Asia-Pacific. Consumers are embracing multi-step skincare routines and Korean beauty innovations. Additionally, the availability of affordable luxury products and growth in wellness-oriented cosmetics like anti-pollution and hydration products drive market expansion.

Europe Cosmetics Market Trends:

In Europe, the market benefits from strict regulatory standards, fostering trust in product safety and quality. The rise of indie brands and eco-friendly cosmetics aligns with growing consumer consciousness about sustainability. Festivals, fashion events, and cultural influences further contribute to innovative beauty product trends.

Latin America Cosmetics Market Trends:

Latin America's market sees growth through locally sourced, natural ingredients and cultural preferences for vibrant and expressive makeup. The increasing influence of international beauty trends and the availability of cost-effective, high-quality products attract middle-income consumers, while targeted advertising strategies enhance brand visibility.

Middle East and Africa Cosmetics Market Trends:

The demand in the Middle East and Africa is fueled by cultural preferences for halal-certified and modest beauty products. The growing youth population and rising disposable incomes are encouraging premium product purchases. Seasonal festivals and bridal markets also create opportunities for cosmetics tailored to cultural traditions.

Top Companies Leading in the Cosmetics Industry

Some of the leading cosmetics market companies include Amway Corp, Avon Products Inc., Beiersdorf AG, Henkel AG & Co. KGaA, Kao Corporation, L'Oréal S.A., Oriflame Cosmetics AG, Procter & Gamble Company, Revlon Inc. (MacAndrews & Forbes Incorporated), Shiseido Company Limited, Skinfood Co. Ltd., The Estée Lauder Companies Inc., and Unilever plc, among many others.

In April 2024, the Estée Lauder Companies (ELC) and Microsoft announced the creation of an AI Innovation Lab to power prestige beauty with generative AI. The lab will leverage Microsoft Azure OpenAI Service to develop solutions that empower ELC's over 20 prestige beauty brands, enabling closer consumer connections and increased speed to market.

Global Cosmetics Market Segmentation Coverage

On the basis of the product type, the market has been categorized into skin and sun care products, hair care products, deodorants and fragrances, makeup and color cosmetics, and others, wherein skin and sun care products represent the leading segment. This segment dominates due to rising awareness about UV protection and anti-aging benefits. The demand for daily-use products like moisturizers and sunscreens has surged, driven by increasing skin health concerns and the adoption of multifunctional skincare routines.
Based on the category, the market is bifurcated into conventional and organic, amongst which conventional products dominates the market. These dominate as they are widely available and priced affordably, catering to diverse consumer preferences across various income groups.
On the basis of the gender, the market has been divided into men, women, and unisex. Among these, women account for the majority of the market share. Women remain the key consumers due to their significant spending on beauty and personal care products, driven by societal expectations and personal grooming habits.
Based on the distribution channel, the market is segregated into supermarkets and hypermarkets, specialty stores, pharmacies, online stores, and others. Supermarkets and hypermarkets dominate as they offer convenience, a wide product range, competitive pricing, and an engaging shopping experience, making them the preferred choice for consumers.

Report Features	Details
Market Size in 2024	USD 419.8 Billion
Market Forecast in 2033	USD 629.7 Billion
Market Growth Rate 2025-2033	4.6%
Units	Billion USD
Scope of the Report	Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Product Type Category Gender Distribution Channel Region
Product Types Covered	Skin and Sun Care Products, Hair Care Products, Deodorants and Fragrances, Makeup and Color Cosmetics, Others
Categories Covered	Conventional, Organic
Genders Covered	Men, Women, Unisex
Distribution Channels Covered	Supermarkets and Hypermarkets, Specialty Stores, Pharmacies, Online Stores, Others
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Amway Corp, Avon Products Inc., Beiersdorf AG, Henkel AG & Co. KGaA, Kao Corporation, L'Oréal S.A., Oriflame Cosmetics AG, Procter & Gamble Company, Revlon Inc. (MacAndrews & Forbes Incorporated), Shiseido Company Limited, Skinfood Co. Ltd., The Estée Lauder Companies Inc., Unilever plc etc.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Cosmetics Market Expected to Reach USD 629.7 Billion by 2033 - IMARC Group

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