This statistic shows the annual growth rate of the global cosmetics market from 2004 to 2024. In 2024, the global cosmetics market grew by an estimated 4.5 percent compared to the previous year. Global cosmetics market Since the early twentieth century, the production of cosmetics has been controlled by a handful of multi-national corporations. The global cosmetics industry is broken down into six main categories; skin care being the largest one out of them all, accounting for about 40 percent of the global market in 2024. In recent years, consumers have been spending higher levels of disposable income on cosmetics than they had in the past. Unfortunately, the global financial crisis has put a damper on the market and during those years, more affordably priced merchandise and do it yourself at home products were key in the beauty market. However, in recent years as Generation Y and Generation Z have really entered the job market, they have become a big driver of the cosmetics market; especially in the United States. The United States is one of the biggest cosmetic markets in the world, with an estimated total revenue of about 101 billion U.S. dollars as of 2024. Outlook: the future for beauty companies In the coming years, global cosmetic companies will continue to focus their efforts on product innovation, as well as brand values and responsibilities, in order to attract new consumers and keep existing consumers loyal to specific brands.

Global net sales of beauty brand Sol de Janeiro grew by 157 percent on-year, amounting to some 686 million euros in the financial year ended March 31, 2024. The company, which focuses on beauty products inspired by Brazilian beach culture, has seen astoundingly high growth across the time period recorded. It was acquired by L'Occitane en Provence in November 2021 and initially recorded net sales of just 26.1 million euros in 2022. The perfect example of a viral product Brazil-inspired brand Sol de Janeiro launched its Brazilian Bum Bum body cream in 2016, and since then, the company’s portfolio expanded to other product categories, including hair care and fragrance. In recent years, its products have gone viral on social media, especially TikTok, causing a notable growth in the brand’s sales. Among its most loved products are body and hair sprays, for example, the Cheirosa ’62 hair and body fragrance mist, which became one of the highest-grossing fragrances on Amazon.com in the United States as of April 2023. In the same year, Sol de Janeiro was also featured in a ranking of the leading fragrance brands among female Gen Z shoppers in the United States. L’Occitane en Provence The Sol de Janeiro brand belongs to France-based company L’Occitane en Provence or simply, L’Occitane, one of the most popular names in the prestige personal care industry. In 2023, L’Occitane recorded sales amounting to over two billion euros. This was the highest result registered in comparison to previous fiscal years. Moreover, most of these sales were generated in the APAC and Americas regions, which were also the regions counting the highest number of L’Occitane stores that year, with 635 stores in the APAC region and 364 recorded in the Americas.

The Packaging Industry in India Report is Segmented by Material Type (Plastic, Paper, Container Glass, Metal Cans, and Container) and by End User (Food and Beverage, Retail and E-Commerce, Paints and Chemicals, Industrial, Personal Care and Cosmetics, and Other End-Users). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.