Cosmetic Products Market Size, Share, And Growth Report 2032

Cosmetic Products Market Size

According to a report from Zion Market Research, the global Cosmetic Products Market was valued at USD 314.52 Billion in 2023 and is projected to hit USD 1226.13 Billion by 2032, with a compound annual growth rate (CAGR) of 16.32% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Cosmetic Products Market industry over the next decade.

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Cosmetic Products Market: Overview

Cosmetics are substances applied to the body meant to change the look, texture, and appearance of the product. Moreover, cosmetic products are available in natural form as well as synthetic form. They are available in various kinds such as eye shadow, blush, mascara, lipstick, and bronzer. These fall under various categories including hair care products, personal care items, skincare items, color cosmetics, oral care products, and fragrances. Moreover, cosmetic products are utilized by women belonging to all age groups.

Cosmetic Products Market: Growth Drivers

Growth of cosmetic products market over anticipated timeline is due to technological breakthroughs in cosmetic product manufacturing and rise in per capita income of consumers. In addition to this, changing lifestyles and altering fashion trends is set to create new growth avenues for cosmetic products industry. Launching of new product launches and entry of new players in cosmetic products industry will prompt market expansion. Surge in web penetration across globe has provided impetus to growth of cosmetic products market. However, wide utilization of color cosmetics for lips & eyes can cause skin disorders & health hazards. Apparently, side effects caused due to cosmetic use can hinder growth of cosmetic products industry.

In past two decades, global cosmetic products market has witnessed 4.5% CAGR, with an annual growth rate ranging between 3 and 5.5%. The industry is even recognized as personal care and toiletries products market and has the ability to maintain continuous and stable growth in economic downturns. Through the diversity of cosmetic product segments, they are capable of satisfying overall customers’ expectations and needs with regards to cosmetics. Beauty products are categorized into mass production and premium segments as per their distribution channels, price, and brand prestige. Global premium cosmetics sales are concentrated in the developed markets such as France, Japan, and the U.S.

There has been a substantial rise in disposable income among the global population in the past decade that has primarily boosted global cosmetic products market. Changing lifestyles, growth in global economy, rising demand for sun care and skin care products owing to inconsistent climatic conditions have encouraged the growth of cosmetic products market. Inclination towards organic and natural beauty products, especially in European countries and the U.S. is fostering the demand of the industry. Escalating demand for organic, herbal, and natural beauty products has generated opportunities for producers to develop and innovate new products as per consumer preferences.

Improvement in the lifestyle of individuals is majorly influencing cosmetics industry. Consumers are becoming conscious about the usage of cosmetics in their everyday life to enhance their overall personality and style quotient. These products play a vital role in enhancing an individual’s physical features and inherent beauty. Products such as deodorants and fragrances are increasingly being used by men in their daily routine. The increasing demand for the trendy products has led to the growth of the industry worldwide.

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Cosmetic Products Market: Segmentation

Global cosmetic products market is categorized on the basis of the product as skin care, hair care, color cosmetics, fragrances, personal care, and oral care.

Based on form, global cosmetic products market is classified into solutions, creams, lotions, ointments, suspensions, tablets, powders, gels, sticks, and aerosols. Various applications pertaining to cosmetics include lips, eyes, eyebrows, nails, and face. Cosmetics are distributed in the market via distribution channels including online, beauty salons, specialty stores, direct selling, departmental stores, pharmacy, and supermarkets.

Cosmetic Products Market: Report Scope

Cosmetic Products Market: Regional Analysis

North America To Account Majorly Towards Regional Market Size By 2032

Surge in growth of cosmetic products industry in North America can be attributed to changing life patterns as well as improvement in living standards of people in the U.S. Apparently, presence of giant players in the sub-continent such as Avon Products, Inc., MAC Cosmetics, Maybelline Cosmetics, The Estee Lauder Companies Inc., and Clinique Laboratories, LLC will not only contribute towards product sales in region but are predicted to provide new vistas of growth for cosmetic products market in North America over forecasting period.

Cosmetic Products Market: Competitive Players

Key participants profiled in study and influencing market growth are

• Alticor
• Oriflame Holding AG
• Beiersdorf AG
• Yves Rocher
• The Estee Lauder Companies Inc.
• Unilever PLC
• Mary Kay Inc.
• Revlon Inc.
• Kao Corp.
• Shiseido Company
• Limited
• Avon Products Inc.
• The Procter & Gamble Company
• L’Oreal S.A.

The global Cosmetic Products Market is segmented as follows:

By Application

• Lips
• Eyes
• Eyebrows
• Nails
• Face

By Distribution Channel

• Supermarkets
• Departmental Stores
• Online
• Beauty Salons
• Specialty Stores
• Direct Selling
• Pharmacy

By Product

• Skin Care Products
• Hair Care Products
• Color Cosmetics
• Fragrances
• Personal Care Products
• Oral Care Products

By Form

• Solutions
• Creams
• Lotions
• Ointments
• Suspensions
• Tablets
• Powders
• Gels
• Sticks
• Aerosols

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa