The global cosmetics products market was valued at USD 1,048.8 billion in 2022 and is projected to grow at a CAGR of 7.5% from 2023 to 2030. The growth of the global cosmetics market can be attributed to the increasing adoption of cosmetic products among women, coupled with the increasing spending by men on grooming and personal care products. Additionally, the growing trend of “self-care” is also contributing to the growth of the cosmetics market. Apart from that, an increase in the number of retail outlets specializing in cosmetics has also boosted demand for these products. Furthermore, the growth of the middle-class population and the increasing spending on luxury goods is propelling the demand for cosmetics.

Cosmetics are used to enhance the appearance or to improve the features of the body. They are available in a variety of forms, such as liquids, creams, gels, and pastes. The cosmetology sector is expected to grow at a CAGR of 7.7% between 2020 and 2030. This is largely due to the increasing demand for new and innovative cosmetics in the market. Among the various factorsdriving the growth of the cosmetics market are the increasing demand for Skincare and makeup products among women, the increase in the expenditure on haircare products and personal care products, and the increasing trend of “self-care.”

The cosmetology sector is dominated by the players in the North America, Europe, and Asia Pacific regions. North America leads the market with a share of 43.4% in 2022. This trend is likely to persist in the near future as the North American cosmetics market is predicted to grow at a significantly higher rate than the global market. Asia Pacific is the fastest-growing region in the cosmetics market, and is expected to register a CAGR of 7.8% between 2020 and 2030. This growth is likely to be driven by the increasing demand for products among the Indian population.

The report provides a comprehensive analysis of the key drivers and restraints affecting the cosmetics market. The report also provides a SWOT analysis of the major players in the cosmetics market.

The makeup segment dominated the market in 2022, accounting for a share of 33.2%. Increasing demand for professional makeup owing to rising female employment, the introduction of premium cosmetics products, the introduction of affordable yet quality cosmetics product segment, such as e.l.f. and NYX, are some of the major factors driving its demand. According to an article published by Technavio, in April 2020, more than 50% of women aged 55 and up apply makeup at least once every other day. Consumers are looking for products in makeup regime that offer them a ‘natural look’ while being easy to use and comfortable to wear. This infused a whole range of product innovations in the cosmetics market.

The skincare segment held a share of around 25.9% in 2022. Demand for skincare products is increasing in order to achieve better skin care and to deal with skin issues related to aging. According to an article published by Forbes, 71% of women aged 30 to 49 considered skin care a top priority in 2019. In addition, growing consciousness about skin care among individuals, enhancement in the efficacy of skincare products, and the increasing demand for expert advice related to skincare products are some of the factors driving the growth of the demand for skincare products.

The growth of the cosmetology sector is mainly due to the increased inclination towards personal care products among women and growing awareness around the need to attain good skin health. This is in addition to the rise in spending on luxury cosmetics, which is mainly driven by the growing trend of self-improvement among women. According to a study by Euromonitor in 2021, the luxury cosmetics market is projected to grow at a CAGR of 7.5% through 2020. In in-depth research study, WardsCulture.com has estimated the cosmetology sector to be worth $24.4 billion by 2025.

The mass segment is estimated to account for the majority of sales and is anticipated to grow at a faster rate than the niche segment over the forecast period. The mass segment is mainly driven by the increasing affordability of personal care products and the growing preference of consumers for generic brands. Moreover, the mass segment is also benefited by the increased penetration of social media and mobile technologies among consumers. With the increasing penetration of mobiles and digital channels, the mass segment is also benefiting from the increasing use of e-commerce platforms to purchase personal care products.

The local retailers segment is anticipated to grow at the lowest CAGR of 5.5% over the forecast period. This is mainly due to the increasing preference of consumers for online shopping and the growth in the number of online retailers. Moreover, the rise in the number of start-ups in the cosmetology sector is also contributing to the slow growth of the local retailers segment.

The cosmetics products market is expected to grow at a CAGR of 7.8% over the forecast period. The growth can be attributed to factors such as increasing population, rising disposable income, and increasing skin care trend. Additionally, the rise in women Owned Business (WOBs) is also contributing to the market growth. For instance, Laura Mercier Cosmetics is a leading brand in the Cosmetics category with a presence in over 60 countries.

The North American cosmetics industry hold a major market share owing to the high spending of the consumers. Asia Pacific is projected to be the fastest growing market owing to the increasing trend of wellness and skin-care products in the region. Growing geriatric population and increasing awareness about skin cancer are also some of the key factors driving the growth of the North American cosmetics market.

Asia Pacific will account for the largest share in the cosmetics products market in 2022. This growth is due to the increasing awareness about healthy living and the rising demand for affordable and quality cosmetics products. innovators, such as L’Oréal, are propelling the growth of the cosmetics products market in the region. For instance, in January 2022, L’Oréal India Ltd. announced the launch of its flagship range, True Match Lumi, a line of Panthenol-rich skincare.

Europe is anticipated to witness a modest growth in the coming years as the market is currently saturated. However, the market is expected to grow faster in the south-western Europe region, owing to the rising adoption of cosmeceuticals among the women population. For instance, in June 2021, Germany-based Biotherm announced the launch of its newly developed line ofessential oils, Bio-Active Lift.

North America will account for the largest share in the global cosmetics products market in 2022. This growth is due to the increasing awareness about healthy living and the rising demand for affordable and quality cosmetics products. innovators, such as L’Oréal, are propelling the growth of the cosmetics products market in the region. For instance, in January 2022, L’Oréal India Ltd. announced the launch of its flagship range, True Match Lumi, a line of Panthenol-rich skincare.

The cosmetics products business is a growing industry that is expected to bring in more than $60 billion by 2021. This is a highly competitive industry, so it is important that you prepare your business plan carefully in order to make sure you will be able to compete and succeed in this market. In this section of the business plan, we will provide a detailed financial projection for your cosmetics products business.

Revenue Assumptions

The main source of revenue for a cosmetics products business comes from wholesale sales. In order to maximize your sales potential, it is important to get a good handle on your cost of goods sold (COGS). COGS consists of the costs of materials, labor, and overhead incurred while producing the products that you sell. This section of the business plan will help you get a good estimate of your COGS and provide tips on how to reduce these costs.

Projecting Expenses

In this section, all the regular expenses related to running the cosmetics products business will be described. The list of operating expenses includes expenses for inventory, marketing, and packaging. You will also find a list of fees and taxes that you will need to pay.

Some of the leading players in the cosmetics products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In January 2022, L’Oréal SA launched a portfolio of new cosmetics lines under the Lumiere HD and Max Factor x L’Oréal brands.

– In August 2022, Maybelline New York, Inc. launched a new line of long-wearing and water-resistant mascara, rapid formula foundation, and lash booster.

– In September 2022, April Imports, a U.S.-based distributor of European prestige cosmetics brands, announced the launch of its first line of makeup products—NARS Cosmetics.

– In October 2022, Benefit Cosmetics announced the launch of a new lipstick line, celebrité lipstick, which is available in 18 shades.

Some of the prominent players in the cosmetics products market include:

– L’Oréal SA
– Maybelline New York, Inc.
– L’Oréal Paris
– Estee Lauder Companies, Inc.
– Lancôme SA
– Revlon Retinol Products, Inc.
– Clinique Inc.
– Urban Decay Cosmetics, Inc.
– Hourglass Cosmetics
– Bling Cosmetics

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the cosmetics products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Makeup
– Skin Care
– Hair Care
– Eye Care
– Perfume
– Fragrance
– Makeup Brushes
– Makeup Palettes
– Lip Products

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Personal Care Stores
– Discounters
– Department Stores
– Health & Beauty Stores
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Premium
– Budget
– Mid-Range
– Low-End
– Elite

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What is the Potential of Product Innovation?
[A]: With technology breakthroughs accelerating, businesses are implementing cutting-edge production methodologies to improve productivity and output while also instilling excellent manufacturing standards and product innovation. Product positioning and customer-specific category specification has been a source of worry for the manufacturer. However, the simple introduction of extra functionalities within the product is increasingly raising its demand from customers.

In the retail industry, design innovation is on the rise. Innovations in cosmetics are expected to influence the makeup products market. Consumers are interested in items that bring simplicity, convenience, and speed to their normal routine, whether they be product improvements, design innovations, feature additions, or smart feature add-ons.

[Q]: Who are the Key Players in the Cosmetics Products Market?
[A]: L’Oréal S.A., Estée Lauder Companies Inc., The Procter & Gamble Company, Shiseido Corporation, and Unilever plc.

[Q]: Which Region Offers the Largest Opportunity for Sales of Cosmetics Products?
[A]: Asia Pacific is anticipated to offer the most lucrative market opportunity for sales of cosmetics products, with a market share of $37.2 B by 2021. This opportunity is expected to be driven by the growing consumer population in this region, as well as the increasing demand for higher-quality and innovative products.

[Q]: What are the factors driving the cosmetics products market?
[A]: Several factors are driving the cosmetics products market, including the growth of the global middle class, the rising consumer spending, and the increasing adoption of innovative and convenient technologies.

[Q]: What are the future trends in the cosmetics products market?
[A]: The future trends in the cosmetics products market include the continued adoption of innovative product features and features that make products more convenient for consumers. Additionally, the market is expected to witness an increase in the demand for natural ingredients and products.