Cosmetics Market Key Players and Growth Information Analysis Report 2028

Cosmetics Industry Overview

The global cosmetics market size was valued at USD 254.08 billion in 2021 and is anticipated to register a CAGR of 5.3% from 2022 to 2028.

The extensive growth in the acceptance of skincare and personal care products coupled with the rise in the aging population across the globe is one of the major factors that propel the market growth during the forecast period. The rising fashion trends and significant product innovation in formulation and formats of cosmetic products such as hair color and other skincare products further contribute to the growth of the market. However, the side effects of regular usage of cosmetic products due to the presence of harmful chemicals are projected to restrain the market growth during the forecast period.

Gather more insights about the market drivers, restrains and growth of the Global Cosmetics Market

U.S. cosmetics market size, by product, 2019 - 2028 (USD Billion)

The COVID-19 pandemic has negatively impacted the global cosmetics market due to the disruption in the supply chain, manufacturing, and government restrictions on opening retail stores across the globe. Moreover, the major players in the market experienced a decline in the sales revenue of cosmetic products during the COVID-19 pandemic, which further impacted the market. For instance, L'Oréal S.A. reported net sales decreased by around 7.0% in fiscal 2020 due to the challenging environment as a result of the COVID-19 pandemic. However, the global cosmetics market is projected to recover in the future and witness strong growth due to resumed activities, sales, trade, and manufacturing across the globe.

In addition, the significant rise in the brand recognition and influence of cosmetic products through social platforms is further projected to propel the market growth during the forecast period. The increasing awareness regarding natural ingredients-based cosmetics and their effects on the human body further supports the inclination of consumers’ toward the natural product propels the market growth. The aging population further creates significant growth in the market as the aged people mostly use the hair dye for recoloring their hair and various anti-aging creams and other products.

Additionally, the growing trend towards organic cosmetics products across the globe is further projected to provide substantial opportunity to the market in the near future. The increasing awareness regarding organic cosmetics and their positive effect on skin supports the inclination of consumers toward the organic cosmetics product from chemical-based cosmetic products that further propelling the market growth. Moreover, the significant demand for fragrance products among celebrities and millennials further supported the market growth during the forecast period. Additionally, growing product development and innovation by cosmetic manufacturers further create significant opportunities for the market in the future.

The growing awareness regarding skincare cosmetics products and their positive effect on the skin is further acting as a motivating aspect during the forecast period. In addition, rising beauty awareness among men and monetary autonomy among women are other substantial factors contributing to the cosmetics products demand during the forecast period.   

Browse through Grand View Research's Beauty & Personal Care Industry Research Reports.

  • Dermocosmetics Skin Care Products Market - The global dermocosmetics skin care products market size was valued at USD 52.12 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 7.5% from 2022 to 2030.
  • Vegan Cosmetics Market - The global vegan cosmetics market size was valued at USD 15.17 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.3% from 2022 to 2030.

Market Share Insights

  • September 2021: Coty Inc. announced the partnership agreement with Perfect Corp. for the integration of a suite of AI and AR practices into the digital marketing toolkits of its cosmetics brands.

Key Companies profiled:

Some prominent players in the global cosmetics market include

  • Coty Inc.
  • L'Oréal S.A.
  • Estée Lauder Companies Inc.
  • Revlon, Inc.
  • Avon Products Inc.
  • Unilever PLC
  • Shiseido Company, Limited
  • Godrej
  • Procter & Gamble
  • Beiersdorf AG
  • Henkel AG & Co. KGaA
  • Kao Corp.
  • Hoyu Co., Ltd.

Order a free sample PDF of the Cosmetics Market Intelligence Study, published by Grand View Research.

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