Global Cosmetics Market to Grow at a CAGR of 5.2% During 2024-2032, Driven by the Growing Trend of Personal Grooming and Self-Care

Self-grooming has gained importance among both men and women alike, driven by vast amount of information available offline and online, along with the rising influence of social media. This has crafted a favourable and likely, a sustainable demand for cosmetic products. To meet the demand of consumers, the global cosmetics market offers a wide array of products made of effective ingredients to target various concerns, along with specific skincare formulations. Further, a key trend in the market is the robust demand for cosmetics that are organic or vegan, cruelty-free, and made from clean ingredients.

The regions like Asia Pacific, North America, and Europe are significant shareholders in the global cosmetics market with Europe emerging as the rapidly growing market. The market is continuously evolving and adapting to offer quality, high performance, and innovative products. The demand for dermo cosmetics is rising and market players are collaborating with healthcare professionals to engineer products that include medical recommendations to treat skin conditions. In 2022, L'Oréal (OTCMKTS: LRLCY) signed an agreement to acquire American brand Skinbetter Science aiming to strengthen its L'Oréal Dermatological Beauty division’s focus on professional aesthetics. Skinbetter Science formulates cutting edge products utilising dermatological science, patented ingredients, and premium sensorial textures.

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Market Analysis by Product, Gender, Price Range, Distribution Channel, and Region:

• The market on the basis of product can be divided into hair care, skin and sun care, makeup and colour cosmetics, and fragrances and deodorants, among others.

• Based on gender, the market can be divided into men, women, and unisex.

• The price range of products in the market includes mass, mid-premium, and premium.

• The different distribution channels for cosmetics encompass supermarkets and hypermarkets, convenience stores, speciality stores, and online, among others.

• The regional markets for cosmetics include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The growing importance of beauty, health, and well-being is stimulating demand for cosmetic products that support treatment of certain concerns and promote self-care.

• The popularity of clean and organic ingredients has favoured the market demand for cosmetic products that are formulated to be vegan, free of parabens and sulphates, and offer ingredient transparency.

• The greater dissemination of information on the significance of sun protection to prevent premature ageing has greatly supported the demand for high SPF sunscreens with smooth texture.

• The growing penetration of social commerce and e-commerce is positively influencing the global cosmetics market size. Social commerce encompasses the consumer practice of buying products recommended by their trusted social media influencers.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for cosmetics for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the product, gender, price range, distribution channel, and regions of cosmetic products.

• It assesses the price trends for the (2018-2023) and (2024-2032) periods.

• The market report also analyses the trade data by covering the major importing and exporting countries.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global cosmetics market are L’Oréal S.A., Unilever plc, The Estée Lauder Companies Inc., The Procter & Gamble Company, Shiseido Co., Limited, L Brands, Kao Corporation, Oriflame Cosmetics Global SA, Christian Dior SE, Beiersdorf AG, Groupe Clarins, Huda Beauty Limited, Revlon, Inc., and  Coty Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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