The concept of beauty is as old as time. That’s probably because the first thing we notice about another person is their appearance.
The beauty industry is very diverse and innovative, and it’s worth billions of dollars. Furthermore, it’s projected to grow even bigger. Beauty industry statistics show a constant increase in the cosmetic market, as all genders have accepted beauty products.
Keep reading to find out exciting stats and facts about the beauty industry’s market size, revenue, new trends and products, and more.
Key Beauty Industry Trends, Facts, and Stats (Editor’s Choice)
- Asia Pacific region holds almost 50% of the global beauty industry market share.
- Women monthly spend around $313 on beauty products.
- Facial skincare makes up over half of the South Korean beauty market.
- 48% of millennials go for 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% water.
- 96% of beauty brands are active on social media.
Beauty Industry Statistics For 2021 — The Latest Data
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 future beauty industry growth is more than evident, and this can be accredited to social media influencers and brand ambassadors.
2. 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 2021 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 $30.8 billion in 2019.
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 in the world.
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 up to about $225,360 throughout their lifetime.
6. Asian Americans spend 22.75% more on beauty products than the general US population.
Beauty and personal care industry statistics and data from the latest 52-week Nelson IQ survey show Asian Americans buy more skincare products than the general US population.
7. The organic and natural beauty product market is estimated to hit $54 billion in 2027.
Beauty products with organic and natural ingredients are one of the hottest topics in cosmetic industry trends these days. As a result, people are more aware that they should pay attention to the components of the beauty products they use.
This change will influence the market, which will most likely hit the $54 billion mark and boost the global cosmetics market size.
8. 25% of consumers only buy eco-friendly beauty products.
(We Are Social)
The concern for the environment is more present in our society. Therefore, more buyers would only purchase a product if it is eco-friendly.
Various cosmetic industry statistics for 2021 prove this statement.
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 more cosmetic brands create 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.
With the increased popularity of organic products, the global beauty industry’s worth is expected to hit the $716.6 billion mark by 2025.
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, North America is the largest global market in the world. Products like deodorants, for example, are an essential part of a personal care routine.
Stats on beauty also reveal that L’Oréal is the leading company of 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.
(Globe News Wire)
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 over 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 the 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.
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 51% of the South Korean market.
That’s because Asian trends in the beauty industry are mostly connected to beautiful, fair, and healthy 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 the women in the US are now showing interest in quality products with organic and natural ingredients.
16. 84% of men in the US use facial skincare.
The beauty industry for men has shifted from just being focused on perfumes and bath soaps to producing skincare products suitable for men. Furthermore, one in three dads wants to prevent the signs of ageing.
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 growth rate, 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, and it was positive even during the great recession.
The most significant annual growth rate of the makeup industry was in 2018, when it was 5.5%. One of the intriguing makeup industry facts is that the demand for makeup products isn’t easily sustainable.
19. 31% of women aged 18 to 29 years apply makeup every day.
According to makeup statistics based on Statista’s survey, young women mostly 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. In 2018, mace masks were mentioned 110,267 across Internet platforms.
In general, facial care-related products are the most popular across the Internet. As cosmetic industry stats point out, face masks were mentioned more than 100 thousand times on the Internet in one year.
Lip balm was right after face masks, with 65 thousand mentions.
21. The global makeup market is predicted to be worth approximately $85 billion in 2024.
In the US, the cosmetics market is a growing industry. 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. Statistics about beauty reveal that this new trend is here to stay. That’s why beauty brands now aim for 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 chemical”).
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.
From shampoos to sprays and conditioners, the haircare market is a very successful branch of the beauty industry. 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 new trends in the beauty industry is “waterless beauty”, because it’s eco-friendly. Shipping bulky products like bottles of shampoo result in increased emissions and more packaging.
That’s why shampoo bars have become much more popular.
26. The most expensive haircut in Hollywood cost $8,000.
Hair and beauty salon industry statistics reveal that Anne Hathaway was rewarded $8,000 after cutting her hair for the role in the movie called Les Misérables. Tim Hooper, the director, wanted her to have a savage, realistic haircut.
27. The global hair care market size was worth $87.9 billion in 2018.
Over the years, the US has shown a steady and encouraging increase in its haircare market size. Furthermore, the global hair care sector is expected to grow even more in the coming years.
The Latest Beauty Industry Trends
28. 63% of beauty buyers trust brands they find on Instagram.
Numerous consumers rely on social media when looking for beauty products. Around 52% of them are more likely to buy the beauty products they see on social media.
That has redefined the beauty industry, as beauty brands put an 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 statistics, many big brands, such as Bluemercury, Macy’s, and Sephora, have committed to the 15% Pledge, which means that they will save at least 15% of their shelf spaces for black-owned businesses.
Diversity and equality of all kinds can also be included in the new beauty trends.
30. 96% of beauty brands have a social media account.
It is no surprise that brands want a strong social media presence. Because of that, brands 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, beauty supply industry statistics show that 77% of buyers would even pay more if a product was personalized to them.
That means that companies will have to work more on differentiating offerings.
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 the beauty industry 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 beauty trends influence companies.
People are more aware of the environmental problems, as well as 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.
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.