The concept of beauty is as old as time. That’s because the first thing we notice about another person is their appearance.
The beauty industry is diverse, innovative, and worth billions of dollars. Furthermore, it’s projected to grow even bigger. Beauty industry statistics show a constant increase in the cosmetic market, as people of all genders have accepted beauty products.
Keep reading to find out exciting stats and facts about this industry’s market size, revenue, new trends and products, and more.
Key Beauty Industry Trends, Facts, and Stats (Editor’s Choice)
- The Asia Pacific region holds almost 50% of the global beauty industry market share
- Women spend around $313 monthly on beauty products
- Facial skincare makes up over half of the South Korean beauty market
- 48% of millennials use skincare products with CBD oil
- 35% of women aged 60 or older use makeup products every day
- The global makeup market will probably be worth around $85 billion in 2024
- A standard bottle of shampoo consists of 90% of water
- 96% of beauty brands are active on social media
Beauty Industry Statistics for 2022
1. The global beauty industry is worth $511 billion.
(Common Thread Co)
The rapid increase of the cosmetic industry’s worth is no surprise, as the demand for beauty and personal care products will always be high.
Also, the beauty industry’s worth has grown, which can be accredited to social media influencers and brand ambassadors.
2. The Asia Pacific region holds 46% of the worldwide beauty industry market share.
(Common Thread Co)
This information isn’t shocking. Asia is well-known for its comprehensive skincare routines and fantastic beauty products. Beauty is an essential part of Asian culture, and women are especially interested in it. On the other hand, Africa holds only 3% of the market share.
3. Consumers are 40% more willing to try new beauty products than before the coronavirus pandemic.
Data from a PowerReviews survey about beauty industry trends for 2022 reveal that people are now more likely to buy new beauty products.
Also, 59% of survey respondents report spending the same or even more money on cosmetics, especially skincare products.
4. L’Oreal had revenue of $29.4 billion in 2020.
New beauty brands continue to emerge, hoping to tap into this hugely successful industry. However, L’Oreal still sits at the top. With its unique products and authenticity, it’s the leading personal care brand globally.
5. Women in the US spend up to $3,756 on beauty products each year.
Beauty statistics show that women in the US spend a significant amount of money on beauty products. They spend around $313 per month, which adds to about $225,360 throughout their lifetime.
6. Asian Americans spend 22.75% more on beauty products than the general US population.
Moreover, beauty and personal care industry statistics reveal that their devotion to skincare is shown in their beauty product purchase patterns that are 34% higher than that of the general US population for hand, facial, and body products.
7. The organic and natural beauty product market is estimated to hit $54 billion in 2027.
Beauty products with organic and natural ingredients are among the hottest trends in this industry. As a result, people are more aware that they should pay attention to the components of the beauty products they use.
Cosmetic industry statistics worldwide indicate that this industry will most likely hit the $54 billion mark and boost the global market.
8. 25% of consumers want to buy only eco-friendly products.
(We Are Social)
The concern for the environment is ever more present in our society. In fact, 42% of Gen Z, Gen X, and millennials care for the environment, while 40% of baby boomers feel the same.
9. The personal care industry for men is estimated to hit $166 billion by 2022.
Men have accepted and started using beauty products more than before. That might be because cosmetic brands began creating beauty lines just for men.
However, men’s beauty industry size and growth are yet to reach their peak as more beauty brands tap into this market.
10. The global beauty industry is estimated to hit $716.6 billion by 2025.
Moreover, it will grow at a CAGR of 5.9% during that period. This is because many brands are more inclusive and create gender-neutral products. That’s why this booming industry may do more than expected in the coming years.
11. The worldwide fragrance market is estimated to reach $52.4 billion by 2025.
When it comes to fragrance products, beauty stats show that North America is the largest global market in the world. Products like deodorants are an essential part of a personal care routine. Stats also reveal that L’Oréal is the leading company for fragrance and cologne products.
Skincare Industry Statistics
12. The worldwide skincare products market is projected to grow at a CAGR of 4.69% by 2026.
The skincare products market was worth $140.92 billion in 2020. However, cosmetics industry statistics prove that the coronavirus pandemic decreased sales by 1.12% the same year.
It’s important to note that the demand for personal care and beauty products has increased in the past few years.
13. Skincare accounts for 42% of the worldwide cosmetic industry.
Skincare is the most profitable segment in the global cosmetic industry. According to Statista’s beauty and skincare statistics, the increase in demand for skincare products might be a consequence of men becoming more interested in personal care.
14. Facial skincare makes up 51% of the South Korean beauty market.
(Day Spa Association)
South Korea’s beauty market is estimated to be worth over $13 billion. The beauty industry analysis conducted by experts at Mintel shows that facial skincare products dominate the South Korean market with $6.5 billion in retail sales and an estimated CAGR of 5.8% over the next five years.
That’s because Asian trends in the beauty industry are mostly based on having beautiful, glowing, and clear skin.
15. 58% of American women buy organic or natural skincare products.
The skincare segment is undoubtedly the most successful part of the beauty and cosmetic industry. However, beauty industry statistics reveal that more than half of women in the US now show interest in quality products with organic and natural ingredients.
16. It’s predicted that 153.13 million Americans will use shaving gels or creams in 2024.
Over 150 million Americans regularly use shaving gels or creams. On the other hand, 179.55 million Americans stated they didn’t use such products in 2021. In general, more people prefer not to use shaving gels or creams.
17. 48% of millennials opt for skincare products with CBD oil.
(Linkage Research and Consulting)
This plant-based ingredient is associated with incredible healing properties. Millennials today have a massive impact on the beauty industry market size, and they mostly look for products with natural ingredients, especially CBD oil.
Makeup Industry Statistics
18. The global makeup industry had an annual growth rate of -8% in 2020.
Due to the impact of the global pandemic, 2020 was the only year when the annual growth rate of the makeup industry wasn’t positive, while it was positive even during the great recession.
The makeup industry’s most significant annual growth rate was in 2018—5.5%. However, one of the more intriguing facts about the beauty industry is that the demand for makeup products isn’t easily sustainable.
19. 31% of women aged 18 to 29 apply makeup every day.
Makeup statistics show that young women apply makeup several times per week, and only 10% never use makeup. On the contrary, 35% of women aged 60 or older use makeup products every day.
20. The global beauty facial mask market is expected to surpass $14 billion by 2031.
As cosmetic industry stats from Fact.MR’s report indicate, the beauty face mask market will grow at a CAGR of 8%. Asia will most likely generate one-fourth of the global revenue, while Europe will generate 40%.
21. The global makeup market is predicted to be worth approximately $85 billion in 2024.
The cosmetics market is a growing industry in the US. For example, beauty supply industry statistics reveal that more than 30% of American adults use concealers and foundations.
22. More than 56% of men in the US use some form of makeup.
With many male social media influencers using makeup and posting tutorials, some men now feel comfortable using it. Beauty industry facts reveal that this new trend is here to stay. That’s why beauty brands now aim at gender-neutral products.
23. 82% of waterproof mascaras sold in the US contain very high levels of toxic chemicals.
A group of researchers tested over 230 cosmetic products at the University of Notre Dame. It turned out that 48% of lip products, 56% of foundations and eye products, and 47% of mascaras contain fluorine, an indicator of PFAS (so-called “forever chemicals”).
Their cosmetics statistics proved that waterproof mascaras and long-lasting lipsticks have the highest levels of fluorine, which isn’t surprising.
Hair Care Industry Statistics
24. The global haircare market is estimated to reach $15 billion by 2023.
The haircare market is a very successful branch of the beauty industry, from shampoos to sprays and conditioners. Moreover, it’s continually growing as new beauty industry trends continue to show up. Thus, experts have estimated a 3% increase in the global hair market by 2023.
25. A typical bottle of shampoo consists of 90% water.
One of the intriguing trends in the beauty industry is “waterless beauty” because it’s eco-friendly. Shipping bulky products, like shampoo bottles, contribute to increased emissions and more packaging. That’s why shampoo bars have become much more popular.
26. Currently, around 19,983 barbers work in the US.
Hair salon industry statistics indicate that 69.7% of all barbers in the US are male, 25.8% are female, while 4.5% haven’t disclosed their gender.
Interestingly, female barbers earn slightly more than male barbers. For every $1 that a man makes, a woman makes $1.01. The difference is almost negligible, but the gender pay gap exists.
27. The global hair care market was worth $12,603.9 million in 2021.
Over the years, the US has shown a steady and encouraging increase in its hair care market size. Furthermore, the global haircare sector is expected to grow even more in the coming years.
The Latest Beauty Industry Trends
28. 71% of beauty buyers claim Instagram helps them connect with content creators and beauty brands.
Numerous consumers rely on social media when looking for beauty products. In fact, 68% of them think that the content they see on Instagram is trendy, which can leverage sales. Therefore, beauty brands should put effort into social media marketing.
29. Major retailers promise to commit 15% of their shelf space to Black-owned businesses.
According to the newest beauty industry stats, many big brands, such as Bluemercury, Macy’s, and Sephora, have committed to the 15% Pledge, which means they will save at least 15% of their shelf space for Black-owned businesses.
30. 96% of beauty brands have an Instagram account.
It is no surprise that brands want a strong social media presence. Because of that, they have brand ambassadors and social media influencers who present products to their followers.
31. 75% of customers are more likely to buy personalized products.
One of the most significant changes in the beauty industry is personalized products. What’s more, health and beauty industry statistics show that 77% of buyers would even pay more if a product was personalized for them.
Beauty Industry Statistics — Conclusion
As beauty trends continue to emerge and with the influence of social media, this billion-dollar industry is expected to expand even further. It’s almost safe to say that this industry’s worth won’t ever be questioned.
These stats and facts prove that the industry is one of the world’s largest and most profitable sectors. Apart from that, they reveal how strongly cosmetic industry trends influence companies.
People are more aware of the environmental problems and that many products contain toxic chemicals. Therefore, we hope that the beauty industry will be even more eco-friendly and cruelty-free in the future.
Frequently Asked Questions(FAQ)
Currently, it’s worth $511 billion. According to some studies and statistics, it will most likely reach a value of $805.61 billion by 2023. Also, almost one million people are employed in the beauty industry.
Moreover, the beauty industry typically makes between $4 and $5 billion per year. The only year when its revenue was $3 billion was 2003.
The makeup industry is predicted to reach $463.5 billion by 2027, meaning that this industry is vast. However, the demand for makeup products can vary depending on global events.
For example, the global coronavirus pandemic has negatively influenced the sales of makeup products, as people go out less frequently and don’t need makeup products as much as they did before.
It’s around $638.6 billion, and it’s predicted to reach $758.4 by 2025. For example, many products, like beauty face masks, will grow in sales, primarily because people got used to shopping for beauty products online.
Also, the cosmetics industry frequently brings many innovations on the market (like organic, vegan, and cruelty-free products), which influences this industry’s growth and size.
The global skincare products market was worth $140.92 billion in 2020, and it’s predicted to grow at a CAGR of 4.69% by 2026. Currently, facial skincare products make up 51% of the South Korean beauty market. It’s interesting to note that skincare accounts for 42% of the global cosmetic industry.
However, the skincare market size in the Asia-Pacific region has decreased significantly during the coronavirus outbreak in 2020. Although it’s recovering, it will take years before this market has the same worth as in 2019.
The biggest trends are connected to skincare, and it seems it will stay that way. One of the most significant changes in trends is related to what’s considered premium. Instead of luxury and vanity, healthy and cruelty-free products made of natural ingredients are now a must.
Apart from that, personalized cosmetics and male products have become more popular. Although 90% of beauty products are for women, men have become more interested in beauty and self-care.
Natural products made of quality ingredients take over the beauty industry market. Since people have become more aware of their health, future trends include home self-care and healthy products. When beauty trends for 2022 are in question, be ready for glitter, double-winged liner, long or textured hair, and genderfluid beauty, beauty industry statistics show.