The cosmetics industry is considered the most stable and resistant to economic changes, and the demand for beauty products is always high. Beauty industry growth will be even more substantial in the future.
There are many questions regarding cosmetics. These cosmetics industry statistics will highlight everything you need to know and keep you well-informed since you are most likely using beauty products.
Not only does the cosmetics industry include products, but it also includes service providers, such as hairdressers, barbers, makeup artists, and many more. That’s another reason why gaining insight into cosmetology industry statistics is significant as well.
If you’re someone who finds these products significant, just keep reading. You will find everything you need to know about the cosmetics industry size, growth, and revenues, along with interesting and useful facts regarding beauty products.
So, let’s begin, shall we?
Top Cosmetic Industry Stats (Editor’s Choice)
- Personal care and cosmetic industry revenue amounts to $497,277 million in 2020. The global cosmetics market size is estimated to reach $438.38 billion by the end of 2026.
- In 2024, the global makeup industry worth is estimated to be around $85 billion.
- The global vegan cosmetics market is expected to record a CAGR of 7.1% by 2023.
- In the US, women aged 17 to 78 years spend approximately $225,360 on their appearance throughout their lifetime.
- The male cosmetics market is expected to reach $166 billion, with an increase in CAGR by 5.4% from 2016 to 2022.
- The male makeup industry is growing. Around 33% of the young male population would consider trying and using makeup.
- The worth of the Korean beauty market was over $13.1 billion in 2018.
- Although the world is fighting for cruelty-free cosmetic products, many products are still tested on animals.
Cosmetic Industry Statistics 2019 ― Let’s Go Back a Bit
1. In 2020, the revenue of cosmetic and beauty industry in the US was $49.2 billion.
The demand for cosmetics has always been high. The revenue of cosmetic and beauty industry was $52.44 billion in 2008. The only year when the revenue was quite low was 2003 when it was only $30.79 billion.
2. The company that owns the leading personal care brand worldwide, L’Oréal Paris, was valued at $28.38 billion in 2019.
L’Oréal has a long history, and it’s the leading company when it comes to skincare products. Based on the sales in 2019, L’Oréal had the biggest revenue of all companies, which amounted to $33.4 billion. According to the research published by M. Shahbandeh on Statista, the younger population buys more products and has a significant influence on the skincare market. As already mentioned, social media platforms and celebrities who use them have contributed to the increase in skincare popularity by talking about certain products or using them in their video tutorials. We can even say that cosmetic industry growth depends on this kind of advertising to some extent.
3. In 2019, skincare products accounted for 40% of the global cosmetic market.
There is a very high demand for skincare products, especially in North America and Asia-Pacific. Skincare plays a very important role in Asian culture, and flawless skin is the most important thing when it comes to meeting beauty standards in Asian countries. However, the North American markets will play a more influential role in the future. Due to the differences in skincare routines across the world, the cosmetic industry has adapted by producing various kinds of beauty products. Even though makeup is still the most popular among consumers, skin care industry statistics show that the industry is growing rapidly, and it will probably surpass it.
Cosmetic Industry Statistics 2020 ― Current Situation and Predictions
4. The global cosmetics market size will probably reach $438.38 billion by the end of 2026.
According to a Fortune Business Insights report, it will exhibit a CAGR of 5.1% in the future. What’s actually very good for this market is that people demand clean-labeled products that are toxin-free and skin-friendly. Many factors, apart from these, influence the growth rate of the global cosmetics market. For example, there is a higher demand for sunscreens and skin care products. Millennials’ lifestyles are changing and people are more interested in advanced beauty treatments and natural skincare products. The cosmetic industry has become so big that even traditional retailers and e-commerce companies, such as H&M or Net-a-Porter, offer more beauty products to their customers.
5. The global vegan cosmetics market is expected to record a CAGR of 7.12% by 2025.
The vegan cosmetics growth rate is constantly increasing. More people are becoming aware of the detrimental effects that animal-derived ingredients have on the environment, and that’s why many famous companies make more vegan products. New vegan cosmetics brands have emerged or turned completely vegan, such as Alchimie Forever, Dr. Botanicals, Spectrum Collections, Arbonne, Pacifica, and so on.
6. The North America Premium Cosmetics Market is expected to register a market growth of 7% CAGR from 2019 to 2025.
Cosmetic industry statistics worldwide show that North America is the leading region when it comes to the beauty market growth. The reason for that lies in large investments in the production of organic products made of high-quality ingredients. That’s why the cosmetics industry has become more competitive. Customers are becoming concerned about their health, so we can see that many popular brands compete to improve the quality of the ingredients they put in their products.
7. In 2024, the global makeup industry worth is estimated to be around $85 billion.
Women mostly use makeup to improve their physical appearance, hide imperfections on their bodies, and boost their confidence. The most used makeup products are foundations and concealers. Around 30% of the population uses these products in the US. Although people tend to use less makeup in 2020 because of the emerging trends that promote natural beauty, it’s still the industry with the highest revenues.
8. The cosmetic industry worth in Canada is expected to reach approximately $15.79 million by 2021.
According to cosmetics industry statistics published by Emma Bedford in 2019, the cosmetic industry worth in Canada has increased by $4.3 billion since 2015. In 2018, there were 1,812 beauty stores across Canada. The regions with the most stores are Ontario (816 stores), Quebec (322 stores), and British Columbia (296 stores). Facial skincare products were the most sold beauty products, with sales reaching around $930 million.
9. The male cosmetics market is expected to reach $166 billion, with an increase in CAGR by 5.4% from 2016 to 2022.
(Allied Market Research)
Male cosmetics market growth is quite obvious. For example, the global male grooming market should be worth $81.2 billion until 2024. That’s because men have started to care about their physical appearance more than ever before. Aside from shampoos and deodorants, men have started spending money on moisturizers, anti-aging creams, perfumes, and even face masks.
Beauty Industry Statistics ― Revenue and Expenses
10. Personal care and cosmetic industry revenue amounts to $497,277 million in 2020.
The revenue of this industry is growing, and, as mentioned before, the main reason is that younger generations have started to buy more beauty products. The market’s largest segment is personal care, with a market volume projected to reach $166,677 million in 2020. Although the cosmetics industry analysis shows that revenue has decreased by 1.2% compared to 2019, this industry’s revenue is expected to increase by 6.2% in 2021. In 2020, most revenue will be generated in China ($84,394 million).
11. The annual revenue of the perfume industry is worth $28.95 billion.
As perfume industry statistics published by Statistic Brain show, the annual revenue of the perfume industry in the US is worth $6.1 billion. The most popular and sold perfume is White Diamonds by Elizabeth Taylor. It accounts for 5.5% of perfume sales in the US. The fragrance market in Australia was valued at $360 million in 2018. Asia-Pacific region will see increases in their market size, while mature markets will maybe even experience declines if they don’t launch new products.
12. The worth of the Korean beauty market was over $13.1 billion in 2018.
It’s almost impossible not to mention South Korea and its influence in the beauty industry. According to Mintel, facial skincare products, especially face masks, account for half of the total market share in South Korea. Also, the face mask is the most frequently launched beauty product.
13. In 2019, in the cosmetic industry market share, the Asia-Pacific region accounted for the largest market share of 39%.
The main reason for this is easier access to the internet in these regions. Also, it’s important to note that China’s beauty industry market size has been growing rapidly since 2017. It’s the main driver of growth in this region, but other key players in Asian beauty industries are South Korea and Japan.
14. Around 1 million Americans spent $500 or more on makeup products in 2019.
According to the research published by the Statista research department, based on the data from the US Census Bureau and Simmons National Consumer Survey, around 1 million Americans spent $500 or more on makeup products in 2019. However, more than 50 million Americans spend less than $50 on makeup products annually. Personal care industry statistics show that 31% of Americans spend between $26 and $50 on beauty products per month, while 11% of American consumers spend less than $11.
15. In the US, women aged 17 to 78 years spend approximately $225,360 on their appearance throughout their lifetime.
(New York Post)
This number sounds insane. Yet, according to a study commissioned by Groupon, women in the US spend $313 on various kinds of beauty products every month. They spend around $91 just on their face. Of course, as women grow older, they start spending more money on face moisturizers and anti-aging products. What’s very surprising, women in their 30s spend more money on such products than women in their 40s or 50s. On top of that, four out of five women in the US claim that they use some kind of fragrance on a daily basis.
16. Men spend around $175,680 on cosmetics throughout their lifetime, which is 22% less than women do.
(New York Post)
This study is also conducted by market researchers OnePoll, commissioned by Groupon. While women spend $91 every month on products for their face, men spend only $51. These cosmetics industry statistics show that the only things men spend more money on are haircuts and hair products. While men spend $60 monthly, women spend around $56.
Cosmetic Industry Stats ― Specific Types of Industries
17. The male makeup industry is growing. Around 33% of the young male population would consider using makeup.
According to NPD’s iGen Beauty Consumer report, almost 40% of the young male population is interested in gender-neutral beauty products. Male makeup statistics show that 56% of the male population across the US admit that they use makeup products such as foundations, BB creams, or concealers. There are even companies, such as MMUK, that produce makeup products only for men. Well-known and established companies such as L’Oréal, Chanel, Shiseido, and Estée Lauder have started launching beauty products for men.
18. The global haircare market was worth $87.9 billion in 2018, and this number is constantly increasing.
According to Statista, the size of the haircare market will increase, and it will be worth $105.14 billion in 2025. As we all know, hair care products such as shampoos or conditioners are essential, but various companies do thorough research about customers, so they can adjust their products. Hair care industry statistics show that the popularity of this market is increasing mainly because companies have become aware of people’s desires for healthy and natural ingredients.
19. According to the AACS, one-third of cosmetology professionals are self-employed.
This includes both professionals who rent a booth at beauty salons to provide services and people who own cosmetology businesses. The job outlook for this industry from 2018 to 2028 is estimated to increase by 8%.
Facts About Cosmetics ― Things You Should Know
20. There is a new beauty trend called “Clean Beauty,” which is relatively new, and it’s about non-toxic ingredients and transparent labels.
Even though it’s hard to define this movement, it’s very important to mention it, since people frequently talk about it. The best definition of “clean beauty” would be “non-toxic beauty.” Therefore, the main thing about clean beauty is that it demands safe ingredients that don’t necessarily have to be natural. Even though this movement is new, its popularity is growing rapidly. Still, this trend helps the natural skin care industry growth.
21. Various governments and regulatory bodies have strict control over the manufacture and distribution of cosmetic products worldwide.
The Federal Food, Drug, and Cosmetic Act (FD&C Act) and the Fair Packaging and Labeling Act (FPLA) are the two most important laws that regulate marketed cosmetics in the US. In Europe, the cosmetics market is regulated by the European Commission. In countries like Japan, India, or Australia, they are regulated by the Ministry or Department of Health.
22. You are 90% in control of how your skin ages.
This is probably one of the most important skincare facts for every woman. According to Dr. Friedmann from the London Dermatology Clinic, skin aging is deeply connected to sun exposure. That means that skincare products that contain SPF (Sun Protection Factors) are the most effective anti-aging products. Of course, you can find SPF even in other beauty products.
23. Neon nail polish is illegal to produce in the US.
This sounds a bit odd, but the CND’s chief scientific advisor, Doug Schoon, explained why. The only reason for this prohibition is that neon colors are not registered with the FDA.
24. Although the world is fighting for cruelty-free cosmetic products, many products are still tested on animals.
Let’s not forget the fact that people have become more aware of the environmental issues and would rather buy cruelty-free products. Still, many companies, such as Benefit, Clinique, Estée Lauder, Make Up For Ever, OPI, Victoria’s Secret, and others still test their products on animals. We can also put the leading cosmetics company L’Oréal on this list. Although L’Oréal based in the UK makes cruelty-free products, it subsidized animal testing in China. One of the most significant makeup facts is that China banned makeup testing on animals in January 2020, but still imports products that are tested on animals. However, this is a very big step toward cruelty-free beauty products production.
Let’s sum everything up so we can understand how fast the cosmetics industry grows and the main factors that influence it.
The first thing we can notice is that the cosmetics industry is vast and diverse. Many companies compete for customer loyalty, and they adjust their products based on thorough research of their customers’ needs.
The main thing that is changing the market is the awareness of toxic and unhealthy ingredients, as well as environmental issues. Of course, this is not the only thing that influences the beauty industry’s market size. Let’s not forget the rising influence of digital and social media marketing. Influencers, bloggers, and celebrities play a big role in advertising because they influence their followers’ decisions. Social media platforms have become so popular that new trends such as clean beauty can easily find their way to many young people.
As you already know, people use beauty products every day to improve their skin health, look prettier, or even because of certain health issues. That’s why the daily use of products such as makeup, skincare products, perfumes, or sunscreens is very important. Still, as time goes by, there are certain things about cosmetics that have been adjusted due to the ongoing changes in people’s habits and lifestyles. Great examples of that are toxin-free, vegan, and cruelty-free beauty products.
Another factor that vastly influences the growth of this industry is population growth. More customers need both products and beauty services such as hair and nail styling, or hair grooming, regardless of their age, gender, or profession.
Of course, the US isn’t the only country that’s taken into account. It’s important to emphasize that other regions, such as the Asia-Pacific region and North America, are a big part of global market size and revenues.
If we take a closer look at cosmetics industry statistics, we can conclude that this industry is stable. The only industry that has experienced a slight decrease in revenues and market size during the years is the makeup industry, but statistics show that this is only temporary. The skincare industry is expected to have the most revenues in the upcoming years, but other industries have a bright future as well.
Frequently Asked Questions (FAQ)
The skin care industry is worth $148.3 billion.
It’s very big. The global cosmetics market size will probably reach $438.38 billion by the end of 2026.
One million Americans spent $500 or more on makeup products in 2019. 31% of Americans spend between $26 and $50 on beauty products every month, while 11% of American consumers spend less than $11.
In the US, women aged 17 to 78 years spend approximately $225,360 on their appearance throughout their lifetime.
It’s becoming more and more competitive. Customers are increasingly concerned about their health, so we can see that many popular brands compete to improve the quality of their products.
- Allied Market Research
- Allied Market Research
- Avenue Five
- Business Wire
- Chemists Corner
- Everyday Health
- Grazia Daily
- Huda Beauty
- New York Post
- 360 Market Updates