The revenue is forecast to experience significant growth in all segments in 2030. The trend observed from 2020 to 2030 remains consistent throughout the entire forecast period. There is a continuous increase in the revenue across all segments. Notably, the Personal Care segment achieves the highest value of 339.51 billion U.S. dollars at 2030. Find further statistics on other topics such as a comparison of the revenue in Indonesia and a comparison of the revenue change in the Philippines. The Statista Market Insights cover a broad range of additional markets.

This statistic illustrates the beauty market value worldwide from 2020, by product category. As of 2020, the global skin care market is forecast to reach 145.2 billion U.S. dollars.

This statistic shows the value of the cosmetics market worldwide from 2018 to 2025. In 2018, the value of the global cosmetics market was 507.8 billion U.S. dollars. The market was projected to value at about 758.4 billion U.S. dollars by 2025.

In recent years, beauty product manufacturers have faced significant losses due to unfavorable economic conditions, including high inflation and increasing economic uncertainty. Many cosmetics and beauty products are considered discretionary, causing sales to weaken when disposable income drops. Heightened inflationary pressures in recent years pushed consumers to postpone purchases to downgrade to more affordable products, contributing to revenue losses between 2020 and 2022. Although domestic manufacturers have begun to recover, recent gains are largely driven by higher selling prices despite the smaller basket sizes. Since 2020, revenue has weakened by an estimated CAGR of 1.2% to reach $45.3 billion in 2025, including a 2.4% gain that year alone. During such times, consumers tend to opt for more affordable options, leading to a surge in imports to meet domestic demand. Imported beauty products have gained a larger share of the domestic market, especially those from countries like France, Italy and South Korea, which are perceived to offer higher quality. The growing demand for innovative, inclusive, sustainable and technical products—especially anti-aging and luxury items—creates growth opportunities for domestic manufacturers. Also, companies like Glossier, which leverages social media marketing and the heightened demand for US-made products, have successfully reached international consumers, driving an increase in exports. The ongoing economic recovery is expected to benefit domestic beauty product manufacturers. As consumer confidence and disposable income climb, spending on discretionary items like beauty products will likely increase, supporting manufacturers' performance. The anticipated decline in the world price of zinc, a key material for manufacturers, due to resolved international conflicts, will boost producers' profit. Similarly, the expected depreciation of the US dollar will enhance the performance of domestic producers both domestically and internationally. These factors are set to cause revenue to accelerate at an annualized 2.5% to $51.3 billion through the end of 2025.

The global revenue in the beauty & personal care market was forecast to continuously increase between 2025 and 2030 by in total 121.9 billion U.S. dollars (+18 percent). After the tenth consecutive increasing year, the revenue is estimated to reach 799.07 billion U.S. dollars and therefore a new peak in 2030. Notably, the revenue of the beauty & personal care market was continuously increasing over the past years.Find more information concerning Poland and Denmark. The Statista Market Insights cover a broad range of additional markets.

According to Cognitive Market Research, The Global luxury skincare products market size will be USD 23.5 billion in 2023 and will expand at a compound yearly growth rate (CAGR) of 9.00% from 2023 to 2030.

The demand for Luxury SkinCare Products is rising due to the high-performing color cosmetic items.
Demand for high-quality and premium-based beauty & personal care products in the Luxury skincare products market.
The face cream and supermarkets and hypermarkets category held the highest Luxury SkinCare Products market revenue share in 2023.
Asia Pacific will continue to lead, whereas the European luxury skincare products market will experience the most substantial growth until 2030.

Rising Demand for Premium-based Beauty and personal Care Products is Expected to Provide a Viable Market Output

The global luxury skin care products market is experiencing robust growth, driven by an increasing demand for premium beauty and personal care items. Consumers are placing a higher value on quality ingredients, innovative formulations, and luxurious packaging. The pursuit of advanced skincare solutions and the desire for indulgent self-care contribute to the market's viability. Premium brands offering exclusivity and efficacy are thriving as consumers prioritize skincare as an essential component of their well-being. The trend towards premiumization in the beauty industry is expected to sustain market growth, creating a lucrative landscape for luxury skincare product manufacturers globally.

In September 2020, skincare was the highest contributor in the overall luxury cosmetics market share, due to increase in focus on skin care regimes and health consciousness among individuals..

(Source:www.ncbi.nlm.nih.gov/pmc/articles/PMC7992584/)

Technology Advancements to Propel Market Growth

The global luxury skincare products market is set to experience significant growth, propelled by ongoing technological advancements. Innovations such as personalized skincare solutions, Al-driven beauty diagnostics, and incorporation of cutting-edge ingredients enhance product efficacy, driving consumer interest. Advanced formulations, smart packaging, and digital technologies augment the overall consumer experience. The integration of technology not only improves product effectiveness but also aligns with evolving consumer preferences for personalized and tech-enhanced beauty routines. As luxury skincare brands continue to embrace these technological trends, the market is poised for continued expansion and heightened consumer engagement.

Market Dynamics of Luxury SkinCare Products

Large Requisites for R&D Investments are Anticipated to Restrict Market Growth

The global luxury skincare products market faces growth constraints due to the large necessity of research and development (R&D) investments. The market's emphasis on innovation and high-quality formulations necessitates significant R&D expenditure, limiting accessibility for some market players. This investment challenge may hinder market expansion, making it challenging for smaller brands to compete. However, it also underscores the commitment to advanced formulations and cutting-edge technologies in the luxury skincare sector. Despite the constraints, sustained R&D investments remain pivotal for meeting evolving consumer expectations, ensuring product efficacy, and maintaining a competitive edge in the dynamic global luxury skincare market.

Impact of COVID–19 on the Luxury SkinCare Products Market

The global luxury skin care products market experienced shifts due to the COVID-19 pandemic. While initial disruptions impacted supply chains and retail closures, increased consumer focus on self-care and skincare routines during lockdowns led to a surge in online sales—prestigious brands adapted by emphasizing e-commerce, innovative digital marketing, and launching immunity-boosting formulations. The market displayed resilience, with consumers prioritizing quality and wellness despite economic uncertainties. Post-pandemic, the luxury skincare sector is anticipated to continue evolving, emphasizing digital strategies, sustainability, and wellness trends. The pandemic reshaped consumer behavior, steering the market towards digital engagement and a heightened emphasis on health and well-being. Introduction of Luxury SkinCare Products

The luxury skincare market encompasses the production, mar...

In 2020, the United States was home to the largest beauty and personal care market in the world, valued at over 93 billion U.S. dollars. China came in second place with a market value of 71 billion U.S. dollars.

Leading beauty companies worldwide L’Oréal was the leading beauty company in the world, with 34 billion U.S. dollars in global revenues in 2021. Other notable beauty manufacturers worldwide include Unilever, Procter & Gamble, Estee Lauder and Beiersdorf. L’Oréal owns iconic brands such as Lancome, Garnier and L’Oréal Paris, the latter being the leading personal care brand globally, with more than 29 billion U.S. dollars in worldwide brand value.

Consumer expenditure on beauty products in the U.S. Since the United States is the largest beauty and personal care market in the world, consumer behavior in that lucrative market becomes of strategic importance for beauty companies and retailers. In the last decades in the United States, the average annual household expenditure on cosmetics, perfume and bath products increased significantly, from around 134 U.S. dollars per consumer unit in 2010 to nearly 200 U.S. dollars by 2020. As for expenditure on hair care products, the average expenditure per consumer unit in the U.S. reached about 65 U.S. dollars annually.

Beauty And Personal Care Products Market size was valued at USD 572.86 Million in 2023 and is projected to reach USD 902.77 Million by 2031, growing at a CAGR of 5.85% from 2024 to 2031.

Global Beauty And Personal Care Products Market Dynamics

The key market dynamics that are shaping the global Beauty And Personal Care Products Market include:

Key Market Drivers
Rising Demand for Clean Beauty and Natural Products: 73% of consumers were willing to pay more for natural beauty products in 2022, according to a Nielsen survey. Sales of paraben-free products grew by 156% between 2020-2022, indicating a strong consumer preference for clean formulations.
E-commerce Growth and Digital Beauty Innovation: Online beauty sales increased by 40% from 2020 to 2022, reaching USD 50.2 Billion globally. Over 65% of beauty consumers used virtual try-on technology for cosmetics purchases in 2022.

Global Cosmetic Products Market size worth at USD 314.52 Billion in 2023 and projected to USD 1226.13 Billion by 2032, with a CAGR of around 16.32% between 2024-2032.

The revenue in the beauty & personal care market in the United States was forecast to continuously increase between 2025 and 2030 by in total 16.1 billion U.S. dollars (+15.37 percent). After the tenth consecutive increasing year, the revenue is estimated to reach 120.81 billion U.S. dollars and therefore a new peak in 2030. Notably, the revenue of the beauty & personal care market was continuously increasing over the past years.Find more key insights for the revenue in countries and regions like the revenue in the 'Skin Care' segment of the beauty & personal care e-commerce market in Australia and the average revenue per capita in the 'Hair Care' segment of the beauty & personal care market in Hong Kong. The Statista Market Insights cover a broad range of additional markets.

For the ninth consecutive year, the global cosmetics market recorded growth in sales value, which increased by 4.5% to $130.6B in 2023. Overall, the total consumption indicated pronounced growth from 2012 to 2023: its value increased at an average annual rate of +4.1% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by +62.6% against 2014 indices.

[250 Pages Report] The cosmetic chemicals market is likely to be valued at US$ 15.89 Billion in 2022 and is expected to reach US$ 26.84 Billion by 2032, growing at a CAGR of 5.4% during the forecast period.

Report Scope

The Beauty Tools Market size was valued at USD 67.08 USD Billion in 2023 and is projected to reach USD 89.59 USD Billion by 2032, exhibiting a CAGR of 4.22 % during the forecast period. Beauty tools include a wide range of devices which have been designed to strengthen skincare routines, simplify the makeup application and even improve the overall beauty regimen. These tools cover the facial roller and cleanser brushes to makeup brushes and hair styling devices. They often use ergonomic design, superior-quality materials and smart technologies for the highest performance. The usage of beauty tools ranges from a wide selection of products such as skin care lovers, makeup artists, and regular beauty users performing their makeup skills. Auxiliary advantage is achieved by bettering the skin texture, the makeup application precision as well as through a promotion of general welfare through self-care practice. By bringing beauty tools into daily lives, people can thus enjoy such comfort equally as when they are in the professional salon, further enhancing their self-esteem and self-expression. Recent developments include: August 2023: L’Oreal S.A. announced that it has completed the acquisition of Australian luxury beauty brand, Aesop. This acquisition is expected to help the company diversify it’s product portfolio and expand its footprint. It also aimed at improving the tools supply in the global market., November 2022: Dyson committed around USD 633 million to expand and accelerate its research and technology development across its beauty portfolio in the span of four years. With this huge amount of investment, the company plans to launch 20 new beauty products along with the opening of new beauty research labs., August 2022: Natura & Co, a Brazilian personal care cosmetics company, announced its expansion in China. This expansion is likely to improve the company’s global market reach and create new beauty tools market opportunities., November 2021: Edgewell Personal Care company, announced the acquisition of Billie, a feminine and body care brand. This acquisition has helped Edgewell Personal Care to consolidate its product range in the market as well as create strong platform for innovation and scale-up production at the global level. , February 2020: L’Occitane Group announced the launch of its personalized range called dubbed Duolab to provide a face care solutions and to study one’s skin health using the countertop device that functions A.I.. Key drivers for this market are: Consumers' Heightened Sensitivity and Awareness Towards Self-Care and Personal Grooming. Potential restraints include: High Prices of Beauty Devices Are Restraining the Market Penetration. Notable trends are: Technology Integration, Sustainability, Versatility, and Inclusivity Are Setting New Trends.

In 2023, the Swedish cosmetics market increased by 43% to $531M for the first time since 2019, thus ending a three-year declining trend. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Cosmetics consumption peaked at $551M in 2019; however, from 2020 to 2023, consumption failed to regain momentum.

The United States held a share of 18.3 percent in the global cosmetics, fragrances, and personal care products market in 2018, based on revenue. Among the top ten leading beauty markets worldwide, China was ranked second, at a market share of about 12.7 percent.

Beauty industry: revenue growth in North America and the Asia-Pacific region

In 2018, close to 90 billion U.S. dollars were generated by the U.S. beauty and personal care market. This figure is expected to reach over 97 billion U.S. dollars in 2020. China’s beauty industry has also been growing at a rapid pace over the last few years, consolidating the country’s position as the primary driver of growth in the Asia-Pacific region. Other key players in the Asian beauty market include Japan and South Korea.

Which cosmetics and personal care segments are popular among consumers?

While the global beauty market is booming, some product segments are more profitable than others. In the United States, cosmetics ranked third after hair care and skincare products, which each accounted for approximately 24 percent of the beauty and personal care market in 2018. On a global scale, however, color cosmetics have experienced the biggest growth rate from 2017 to 2018, indicating the growing worldwide demand for beauty products such as foundation, lipstick, mascara, and nail polish.

In 2020, the market size of the online beauty and personal care industry was valued at three billion U.S. dollars in India. The market size of the online beauty and personal care industry is likely to reach to about six billion U.S. dollars in 2025.

Cosmetics exports peaked at 366K tons in 2019 but failed to regain momentum from 2020 to 2023. In value terms, cosmetics exports soared to $12.4B in 2023.

As of 2021, the global market value for clean beauty was valued at around 6.5 billion U.S. dollars. The clean beauty market value is forecast to grow and reach approximately 15.3 billion U.S. dollars by 2028.

The revenue in the 'Natural Cosmetics' segment of the beauty & personal care market in the United States was forecast to continuously increase between 2025 and 2030 by in total 632.7 million U.S. dollars (+31.65 percent). After the tenth consecutive increasing year, the revenue is estimated to reach 2.6 billion U.S. dollars and therefore a new peak in 2030. Notably, the revenue of the 'Natural Cosmetics' segment of the beauty & personal care market was continuously increasing over the past years.Find more information concerning Indonesia and Poland. The Statista Market Insights cover a broad range of additional markets.

The revenue in the beauty & personal care market in Indonesia was forecast to continuously increase between 2025 and 2030 by in total 2.3 billion U.S. dollars (+23.61 percent). After the ninth consecutive increasing year, the revenue is estimated to reach 12 billion U.S. dollars and therefore a new peak in 2030. Notably, the revenue of the beauty & personal care market was continuously increasing over the past years.Find further information concerning Thailand and Vietnam. The Statista Market Insights cover a broad range of additional markets.