Cosmetics Market to Grow at a CAGR of 5.84% from 2022 to 2027; Rise in the Aging Population Drives Growth

NEW YORK, June 7, 2023 /PRNewswire/ -- The cosmetics market is estimated to grow by USD 115.57 billion during 2023-2027. However, the growth momentum will progress at a CAGR of 5.84% during the forecast period. The market is segmented by Product (Skincare products, Haircare products, Color cosmetics, and Fragrances and deodorants), Distribution Channel (Offline and Online), and Geography (APAC, North America, Europe, South America, and Middle East and Africa). The market share growth by the skincare products segment will be significant during the forecast period and includes products that remove dirt, sebum, makeup, and dead skin cells to clean the skin. The skincare cosmetics segment is growing as both young and older women are looking for products that help their skin look better. The rise in the aging population is the key factor driving the growth of the global cosmetics market. To understand more about the market, request a sample report!

Cosmetics market - Customer LandscapeTo help companies evaluate and develop growth strategies, the report outlines –

Key purchase criteria

Adoption rates

Adoption lifecycle

Drivers of price sensitivity

For highlights on customer landscape analysis, download a sample!

Information services market Insights -

Vendors: Coty Inc., LOreal SA, Natura and Co Holding SA, Revlon Inc., Shiseido Co. Ltd., Amorepacific Corp., Avon Products Inc., Beiersdorf AG, CHANEL Ltd., Johnson and Johnson Services Inc., Kao Corp., Kjaer Weis, Kose Corp., LVMH Moet Hennessy Louis Vuitton SE, Mary Kay Inc., Nu Skin Enterprises Inc., Oriflame Holding AG, The Estee Lauder Companies Inc., The Procter and Gamble Co., Unilever PLC, among others

Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors

Segments: Product (Skincare products, Haircare products, Color cosmetics, and Fragrances and deodorants), Distribution Channel (Offline and Online), and Geography (APAC, North America, Europe, South America, and Middle East and Africa)

To understand more about the global personal products market, request a sample report

Cosmetics market – Market dynamics

Key driver -

Rise in the aging population

With age, the skin becomes thinner and loses fat, firmness, and texture. The veins become more visible, and scratches, cuts, or bumps can take a long time to heal. Globally, the aging population (men and women) is growing significantly. According to the United Nations (UN), in 2023, there were 761 million people aged 65 years and above globally. This number is expected to double to 1.6 billion by 2050. The share of the global population aged 65 years and above increased from 9% in 2019 to 16% in 2023.

Due to the adverse effects of aging on the skin, anti-aging products are gaining popularity along with the increase in the aging population globally. Prolonged exposure to the sun can also lead to wrinkles, dryness, and age spots on the skin. Some of the other factors that contribute to dry skin are smoking, stress, sweating profusely, and exposure to dry air. Dry skin can also be caused by health problems such as diabetes and several kidney diseases that are prevalent among the elderly.

Major trend -

Growing preference for organic cosmetics and cosmeceuticals

Consumers are gradually shifting from chemical-based cosmetics to organic or chemical-free cosmetics. Chemical-free cosmetics and cosmeceuticals are gaining popularity among consumers as these products contain certain biologically active compounds, which have medicinal effects on the skin and are free from toxic compounds that are harsh on the skin. Some chemicals are also known to cause irritation or an allergic reaction in individuals with sensitive skin. Compounds such as parabens and phthalates, which are used extensively in chemical-based cosmetics, are also known to cause cancer and Type II diabetes, due to which organic skincare products and cosmeceuticals are increasingly gaining popularity.

Natural raw materials such as neem extracts, soybean, fish oil, aloe vera, and guar gum are increasingly being used to make organic skin products. Fish oil is increasingly used in skincare cosmetic products due to its stabilizing and preservative properties. Organic cosmetics also comprise of natural fragrances, whereas chemical-based fragrances in cosmetic products are linked to toxic effects and may even lead to cancer, nervous system disorders, allergies, and congenital disabilities. Beiersdorfs NIVEA PURE and NATURAL product line, which includes face cleansing lotions and moisturizing face day creams, contain about 95% of naturally sourced ingredients.

Key challenge -

Presence of counterfeit products

Several counterfeit premium products are available in the global cosmetics market, which are hindering market growth. With the growing sale of these counterfeit products, customers may not be able to distinguish between counterfeit and original products. These duplicate products are available at lower prices as they are made of low-quality raw materials. Counterfeit products damage the product and brand image of original brands, thereby affecting the revenue and profit margin of these original brands. Thus, these factors adversely affect the sales and pricing strategies of major vendors that sell premium cosmetic products during the forecast period.

Drivers, & Challenges have an impact on market dynamics and can impact businesses. Find some insights from a sample report!

The cosmetics market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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What are the key data covered in this Cosmetics Market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the Cosmetics Market between 2023 and 2027

Precise estimation of the size of the Cosmetics Market size and its contribution to the market in focus on the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the Cosmetics Market industry across APAC, North America, Europe, South America, and Middle East and Africa

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of Cosmetics Market vendors

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Related Reports:

The cosmetic skin care market is estimated to grow at a CAGR of 8.72% between 2022 and 2027 and the size of the market is forecast to increase by USD 79.37 billion. This report extensively covers market segmentation by product (face skincare products, body skincare products, and others), distribution channel (offline and online), and geography (APAC, Europe, North America, Middle East and Africa, and South America). An emerging trend in the cosmetics market is the increase in the number of distribution channels.

The anti-acne cosmetics market size is estimated to decline at a CAGR of 2.97% between 2022 and 2027. This anti-acne cosmetics market report extensively covers market segmentation by product (cleansers, emulsions, and masks), distribution channel (offline and online), and geography (Europe, APAC, North America, South America, and Middle East and Africa). Premiumization of anti-acne cosmetic products is notably driving the anti-acne cosmetics market growth.

Cosmetics Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.84%

Market growth 2023-2027

USD 115.57 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.0

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 38%

Key countries

US, China, Japan, Germany, and Brazil

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Coty Inc., LOreal SA, Natura and Co Holding SA, Revlon Inc., Shiseido Co. Ltd., Amorepacific Corp., Avon Products Inc., Beiersdorf AG, CHANEL Ltd., Johnson and Johnson Services Inc., Kao Corp., Kjaer Weis, Kose Corp., LVMH Moet Hennessy Louis Vuitton SE, Mary Kay Inc., Nu Skin Enterprises Inc., Oriflame Holding AG, The Estee Lauder Companies Inc., The Procter and Gamble Co., and Unilever PLC

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global cosmetics products market 2017 - 2021

4.2 Product Segment Analysis 2017 - 2021

4.3 Distribution Channel Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Product

6.1 Market segments

6.2 Comparison by Product

6.3 Skincare products - Market size and forecast 2022-2027

6.4 Haircare products - Market size and forecast 2022-2027

6.5 Color cosmetics - Market size and forecast 2022-2027

6.6 Fragrances and deodorants - Market size and forecast 2022-2027

6.7 Market opportunity by Product

7 Market Segmentation by Distribution Channel

7.1 Market segments

7.2 Comparison by Distribution Channel

7.3 Offline - Market size and forecast 2022-2027

7.4 Online - Market size and forecast 2022-2027

7.5 Market opportunity by Distribution Channel

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 North America - Market size and forecast 2022-2027

9.5 Europe - Market size and forecast 2022-2027

9.6 South America - Market size and forecast 2022-2027

9.7 Middle East and Africa - Market size and forecast 2022-2027

9.8 US - Market size and forecast 2022-2027

9.9 China - Market size and forecast 2022-2027

9.10 Japan - Market size and forecast 2022-2027

9.11 Germany - Market size and forecast 2022-2027

9.12 Brazil - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 Amorepacific Corp.

12.4 Avon Products Inc.

12.5 Beiersdorf AG

12.6 CHANEL Ltd.

12.7 Coty Inc.

12.8 Johnson and Johnson Services Inc.

12.9 Kao Corp.

12.10 Kose Corp.

12.11 LOreal SA

12.12 LVMH Moet Hennessy Louis Vuitton SE

12.13 Natura and Co Holding SA

12.14 Shiseido Co. Ltd.

12.15 The Estee Lauder Companies Inc.

12.16 The Procter and Gamble Co.

12.17 Unilever PLC

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

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