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Cosmetics Market

The Cosmetics Market is anticipated to grow at a significant CAGR during the forecast period (2020-2027).

The factors driving the growth of Cosmetics Market includes growing demand for skincare and personal care products across the globe, rising consciousness amongst consumers about maintaining external beauty and increasing preference for organic cosmetic products. According to the report published by Statista, the Global Skin Care Market was estimated around USD 136.4 billion in 2020 and is expected to reach USD 187.68 billion by the end of 2026, which will accelerate the Cosmetics Market share in the approaching years. Moreover, availability of wide range of cosmetic products at e-commerce platform, rising concerns related to health and hygiene, increasing geriatric population and growing influence of social media platforms, are some of the additional factors supplementing the Cosmetics Market Growth. In addition, rise in the launch of innovative products, growing adoption of advanced technologies by manufacturers, increasing investments by leading players on research and development, rapid urbanization, and improvements in the living standards, are further accelerating the Cosmetics Market share.

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However, the growth of Cosmetics Market is hindered due to increasing concerns related to pigment molecules and chemical present in cosmetic products.

The leading players operating in the market are OriflameCosmetics S.A., The Estee Lauder Companies Inc., Revlon Inc, Kao Corporation, New Avon Company, The Procter & Gamble Company, Unilever Group, L’Oréal S.A., Shiseido Company, Ltd. and SkinFood among others.

Based on Category, the Skin and Sun care products segment is predicted capture the largest market share during the forecast period

Increasing consumer awareness about the benefits of skin care products and rising preference for organic products, are some of the factors responsible for the segment’s growth.

Based on Distribution Channel, the Online Sales Channel segment is projected to grow at a remarkable CAGR over the forecast period

Online stores provide variety of cosmetic products, offers attractive discounts and are open 24*7, are propelling the growth of the segment.

Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period

As per the Cosmetics Market Analysis, growing demand for skin care products, easy availability of cosmetic products at e-commerce platforms, increasing investments by major companies for promoting their products on social media platforms, rising disposable incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific. 

Key Developments

  • In 2021, Coty Inc. partnered with Perfect Corp. to incorporate Artificial Intelligence and Augmented Reality practices into its digital marketing toolkits.

  • In 2021, MDR Brand management merged with Revlon, to enhance its customer engagement across APAC, EMEA and America.

  • In 2021, Kao Corporation introduced SOFNIA iP INTERLINK SERUM, which is ideal for women with visible pores on the nose and cheeks

Market Segmentation

Global Cosmetics Market by Category

  • Skin and Sun care products

  • Hair care products

  • Deodorants

  • Makeup and Color cosmetics

  • Fragrances

  • Others

Global Cosmetics Market by Distribution Channel

  • Retail Sales Channel

    • General departmental store

    • Supermarkets

    • Drug stores

    • Brand outlets

    • Others

  • Online Sales Channel

Global Cosmetics Market by Gender

  • Men

  • Women

Global Cosmetics Market by Region   

  • Asia Pacific

    • China

    • Japan

    • India

    • Rest of APAC

  • North America

    • United States of America

    • Canada

  • Europe

    • United Kingdom

    • Germany

    • France

    • Spain

    • Rest of Europe

  • RoW

    • Brazil

    • South Africa

    • Saudi Arabia

    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland

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