Global Beauty And Personal Care Products Market Size By Type (Conventional, Organic), By Product, (Skin Care, Hair Care, Fragrances, Color Cosmetics), By Distribution Channel (Specialty Stores, Hypermarkets And Supermarkets, E-commerce), By Geographic Scope And Forecast
Report ID: 262302|No. of Pages: 202
Global Beauty And Personal Care Products Market Size By Type (Conventional, Organic), By Product, (Skin Care, Hair Care, Fragrances, Color Cosmetics), By Distribution Channel (Specialty Stores, Hypermarkets And Supermarkets, E-commerce), By Geographic Scope And Forecast
Beauty And Personal Care Products Market Size And Forecast
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.
- Beauty and personal care products, including skincare, color cosmetics, and hair care, have become essential components of daily grooming routines, especially among millennials.
- This growing demographic has contributed significantly to the industry’s expansion, as they increasingly prioritize personal appearance, wellness, and self-expression.
- In addition to evolving product formulations, the accessibility of beauty and personal care products through diverse sales channels has further fueled market growth.
- Consumers can easily purchase their favorite items through specialty shops, pharmacies, beauty salons, and, increasingly, online platforms.
- E-commerce, in particular, has revolutionized the industry by offering convenience, a wide variety of products, and personalized recommendations, enhancing the overall shopping experience.
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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. Social media-driven beauty purchases increased by 32% in 2022, with influencer marketing driving $5.5 billion in beauty sales.
- Rise of Male Grooming and Gender-Neutral Beauty: Male skincare product sales increased by 45% between 2020 and 2022. Gender-neutral beauty brands saw a 200% growth in product launches from 2020 to 2022, with 56% of Gen Z consumers favoring gender-neutral beauty products.
Key Challenges
- Rising Counterfeit Products and Safety Concerns: FDA reported a 30% increase in adverse reactions from counterfeit cosmetics between 2020-2022. U.S. Customs seized counterfeit beauty products worth USD 1.2 Billion in 2022, with 60% containing harmful substances like lead and mercury.
- Strict Regulatory Compliance and Testing Requirements: The EU banned over 1,300 chemicals in cosmetics as of 2022, increasing compliance costs by 25% for manufacturers. The average time for new product approval increased to 12-18 months in 2022 due to stringent safety regulations. Companies spent an average of $800,000 per product on safety testing and compliance in 2022, up 40% from 2020.
- Supply Chain Disruptions and Raw Material Costs: Raw material costs for beauty products increased by 35% between 2020-2022 due to supply chain issues. 67% of beauty manufacturers reported significant supply chain disruptions in 2022, affecting production timelines. Transportation costs for beauty products increased by 45% from 2020 to 2022, impacting product pricing and availability.
Key Trends
- Personalized and AI-powered beauty Solutions: Over 45% of beauty brands introduced AI-powered skin analysis tools in 2022. Custom formulation services saw a 120% growth from 2020-2022, with 65% of consumers willing to pay premium prices for personalized products.
- Sustainable and Zero-Waste Beauty: Refillable beauty product sales increased by 65% between 2020-2022. 78% of consumers considered sustainable packaging important in their beauty purchases by 2022. Waterless beauty products grew by 85% in market share from 2020-2023, saving an estimated 1.5 billion liters of water annually.
- Beauty Tech and Virtual Try-On Solutions: Virtual try-on technology adoption in beauty retail increased by 300% from 2020-2022. AR-powered beauty apps saw a 200% increase in user engagement in 2022. Beauty brands using virtual consultations reported a 45% increase in customer satisfaction.
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Global Beauty And Personal Care Products Market Regional Analysis
Here is a more detailed regional analysis of the global Beauty And Personal Care Products Market:
Asia Pacific
- Asia Pacific substantially dominates the global beauty and personal care products market driven by the growing female workforce and rising disposable income.
- Female labor force participation in China reached 61.6% in 2022, with average disposable income increasing by 8.4%.
- India’s working women population grew to 135 million in 2022, with beauty spending up 32% year-over-year.
- Beauty spending per capita among working women in APAC increased by 45% from 2020 to 2022, reaching $285 annually.
- Asia Pacific’s middle class reached 2.2 billion people in 2022, with beauty spending growing at 12% annually.
- Urban population in APAC grew by 2.5% annually, with 85% of beauty product sales concentrated in urban areas.
- Chinese urban households spent 38% more on premium beauty products in 2022 compared to 2020
- Social media-driven beauty sales in China exceeded USD 23 Billion in 2022, with 70% of consumers using social platforms for beauty purchases.
- Mobile beauty app usage in APAC increased by 156% from 2020-2022, with 82% of beauty purchases made via mobile devices.
Europe
- Europe is anticipated to witness fastest growth in the global beauty and personal care products market owing to the strong demand for natural and sustainable beauty.
- European natural cosmetics market reached €5.2 billion in 2022, growing at 9.2% annually. 84% of European consumers preferred natural ingredients in beauty products by 2022.
- Vegan beauty product sales in Germany, France, and UK combined reached €3.8 billion in 2022, up 65% from 2020
- European beauty companies invested €2.8 billion in clean beauty research in 2022.
- France’s beauty innovation patents increased by 45% between 2020-2022, with 60% focused on natural formulations.
- UK clean beauty startups received €850 million in funding from 2020-2022, driving product innovation.
- EU Cosmetics Regulation banned 1,680 ingredients in cosmetics by 2022, setting global standards.
- European beauty certification programs grew by 75% from 2020-2022.
- 92% of European consumers trusted EU-certified beauty products in 2022, leading to a 28% increase in premium beauty sales.
Global Beauty And Personal Care Products Market: Segmentation Analysis
The Global Beauty And Personal Care Products Market is Segmented based on Type, Product, Distribution Channel, And Geography.
Beauty And Personal Care Products Market, By Type
- Conventional
- Organic
Based on Type, the Global Beauty And Personal Care Products Market is bifurcated into Conventional, and Organic. The conventional segment dominates the global Beauty and personal care products market owing to its affordability and widespread availability. Conventional beauty products are easily accessible in specialty stores, supermarkets, and other retail outlets, making them a convenient choice for consumers. These products are formulated with a variety of chemicals designed to enhance the appearance of the skin and body, catering to a broad audience seeking effective and budget-friendly solutions.
Beauty And Personal Care Products Market, By Product
- Skin Care
- Hair Care
- Fragrances
- Color Cosmetics
Based on Product, the Global Beauty And Personal Care Products Market is bifurcated into Skin Care, Hair Care, Fragrances, and Color Cosmetics. The skincare segment is set to dominate the global beauty and personal care products market, driven by the increasing consumer demand for products that protect the skin from environmental pollution and UV rays. Growing awareness of the importance of maintaining healthy skin, combined with rising consciousness about physical appearance, has fueled the demand for skincare solutions. As consumers prioritize skincare in their daily routines to address various concerns such as aging, sun damage, and environmental stressors, the skincare segment continues to see robust growth.
Beauty And Personal Care Products Market, By Distribution Channel
- Specialty Stores
- Hypermarkets and Supermarkets
- E-commerce
Based on Distribution Channel, the Global Beauty And Personal Care Products Market is bifurcated into Specialty Stores, Hypermarkets and Supermarkets, and E-commerce. The e-commerce segment dominates the global beauty and personal care products market, driven by the increasing adoption of online platforms for purchasing essential items. Consumers are increasingly turning to e-commerce websites for their beauty and personal care needs due to the convenience, variety, and personalized shopping experiences these platforms offer. The rising global penetration of e-commerce, combined with the ease of access to products and seamless delivery options, has significantly contributed to the growth of this segment.
Key Players
The “Global Beauty And Personal Care Products Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are L’Oreal S.A., Revlon, Procter & Gamble, Unilever, Avon Products, Kao Corporation, Coty, Inc., Oriflame Cosmetics, Johnson & Johnson, and Beiersdorf AG.
This section offers in-depth analysis through a company overview, position analysis, the regional and industrial footprint of the company, and the ACE matrix for insightful competitive analysis. The section also provides an exhaustive analysis of the financial performances of mentioned players in the given market.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Global Beauty And Personal Care Products Market Key Developments
- In April 2024, The Good Glamm Group announced the collaboration with Ulta Cosmetics to introduce its new brand Wyn Beauty by Serena Williams, which is a joint venture with tennis player Serena Williams. Wyn Beauty will focus solely on the US market for the first year, following which it will expand to the Indian and global markets.
- In March 2024, Honasa Consumer Limited (HCL), Mama Earth’s parent business, announced the launch of an initial public offering (IPO) of Rs 1700 crore on October 31, 2023. The D2C Company is launching a diverse line of personal care goods worth USD 1 Billion.
- In September 2023, L’Oréal Groupe decided to make a minority investment in Shinehigh Innovation, a Chinese creative biotech startup, to form a long-term relationship to develop novel and environmentally friendly beauty solutions.
- In April 2023, Pacifica announced the launch of a new body care range called Wake Up Beautiful, which includes retinoid and mushroom body products for skin renewal. The collection contains a body serum and a lotion, both made using sustainable and environmentally friendly materials.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2020-2031 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2020-2022 |
| UNIT | Value (USD Million) |
| KEY COMPANIES PROFILED | L’Oreal S.A., Revlon, Procter & Gamble, Unilever, Avon Products, Kao Corporation, Coty, Inc. |
| SEGMENTS COVERED | By Type, By Product, By Distribution Channel, And By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Research Methodology of Verified Market Research:
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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Customization of the Report
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Frequently Asked Questions
1 INTRODUCTION OF THE GLOBAL BEAUTY AND PERSONAL CARE PRODUCTS MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL BEAUTY AND PERSONAL CARE PRODUCTS MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porter Five Force Model
4.4 Value Chain Analysis
5 GLOBAL BEAUTY AND PERSONAL CARE PRODUCTS MARKET, BY TYPE
5.1 Overview
5.2 Conventional
5.3 Organic
6 GLOBAL BEAUTY AND PERSONAL CARE PRODUCTS MARKET, BY PRODUCT
6.1 Overview
6.2 Skin Care
6.3 Hair Care
6.4 Fragrances
6.5 Color Cosmetics
7 GLOBAL BEAUTY AND PERSONAL CARE PRODUCTS MARKET, BY DISTRIBUTION CHANNEL
7.1 Overview
7.2 Specialty Stores
7.3 Hypermarkets and Supermarkets
7.4 E-commerce
8 GLOBAL BEAUTY AND PERSONAL CARE PRODUCTS MARKET, BY GEOGRAPHY
8.1 Overview
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 U.K.
8.3.3 France
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific
8.5 Rest of the World
8.5.1 Latin America
8.5.2 Middle East & Africa
9 GLOBAL BEAUTY AND PERSONAL CARE PRODUCTS MARKET COMPETITIVE LANDSCAPE
9.1 Overview
9.2 Company Market Ranking
9.3 Key Development Strategies
10 COMPANY PROFILES
10.1 L’Oreal S.A
10.1.1 Overview
10.1.2 Financial Performance
10.1.3 Product Outlook
10.1.4 Key Developments
10.2 Revlon
10.2.1 Overview
10.2.2 Financial Performance
10.2.3 Product Outlook
10.2.4 Key Developments
10.3 Procter & Gamble
10.3.1 Overview
10.3.2 Financial Performance
10.3.3 Product Outlook
10.3.4 Key Developments
10.4 Unilever
10.4.1 Overview
10.4.2 Financial Performance
10.4.3 Product Outlook
10.4.4 Key Developments
10.5 Avon Products
10.5.1 Overview
10.5.2 Financial Performance
10.5.3 Product Outlook
10.5.4 Key Developments
10.6 Kao Corporation
10.6.1 Overview
10.6.2 Financial Performance
10.6.3 Product Outlook
10.6.4 Key Developments
10.7 Coty Inc.
10.7.1 Overview
10.7.2 Financial Performance
10.7.3 Product Outlook
10.7.4 Key Developments
10.8 Oriflame Cosmetics
10.8.1 Overview
10.8.2 Financial Performance
10.8.3 Product Outlook
10.8.4 Key Developments
10.9 Johnson & Johnson
10.9.1 Overview
10.9.2 Financial Performance
10.9.3 Product Outlook
10.9.4 Key Developments
10.10 Beiersdorf AG
10.10.1 Overview
10.10.2 Financial Performance
10.10.3 Product Outlook
10.10.4 Key Developments
11 Appendix
11.1 Related Research
Report Research Methodology
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Exploratory data mining
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Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
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| Demand side |
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Econometrics and data visualization model
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We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
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The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
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- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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