Cosmetics Market Size, Share and Growth Analysis Report - Forecast Trends and Outlook (2025-2034)

The cosmetics market attained a value of USD 343.37 Billion in 2024. The market is expected to grow at a CAGR of 5.20% during the forecast period of 2025-2034. By 2034, the market is expected to reach USD 570.06 Billion.

Consumers are increasingly prioritizing health and wellness, driving demand for natural and organic cosmetics. Products free from parabens, sulphates, and synthetic fragrances are gaining popularity due to growing awareness of potential long-term effects of chemical ingredients. Brands are responding with cleaner formulations, botanical extracts, and transparent ingredient labelling. In July 2024, BloomyBliss unveiled new lip gloss infused with organic rose petals for offering a natural, luxurious shine and floral-inspired beauty. This trend supports cruelty-free and vegan products while aligning with sustainability movements.

E-commerce and online delivery are accelerating the growth of the cosmetics market by offering consumers greater convenience, accessibility, and personalization. Fast shipping, easy returns, and subscription models enhance the overall customer experience. Same-day delivery is becoming a powerful trend in the beauty industry, transforming how brands release and distribute new products. In March 2025, Uber Eats teamed up with Sally Beauty for enabling instant on-demand delivery of hair, nail, and beauty supplies straight to customer doors in the United States. As a result, e-commerce is expanding market reach and also reshaping how beauty products are marketed and sold.

Key Market Insights:

• The Asia-Pacific cosmetics market accounted for the largest share of the global market revenue and is expected to grow at 6.7% CAGR over the forecast period.
• The Indian cosmetics market is projected to grow at 8.3% CAGR during the forecast period.
• By cosmetics type, makeup and colour cosmetics registered a substantial share in 2024.
• The market growth has been further bolstered by online distribution channels which are expected to exhibit a CAGR of 6.2% over the forecast period.

Market Size & Forecast

• Market Size in 2024: USD 343.37 Billion
• Projected Market Size in 2034: USD 570.06 Billion
• CAGR from 2025-2034: 5.20%
• Largest Regional Market: Asia-Pacific

The cosmetics market continues to register substantial growth as consumer awareness towards personal care and beauty trends picks up.Growing product lines in skincare, color cosmetics, hair care, and grooming have also driven market growth in worldwide regions. Also driving the innovative process is the focus on personal appearance, with brands cultivating unique products targeting various skin and hair types. The growth of digital marketing and e-commerce further propels market expansion, making cosmetics more widely available while cementing the focus on sustainability and ethical practices.

Key Trends and Recent Developments

April 2025

Shell unveiled Shell Silk Alkane at in cosmetics Global in Amsterdam. This vegan, biodegradable synthetic fluid crafted via Shell’s Gas to Liquids technology to offer high purity, silky feel, and eco-friendly emollient performance. It replaces crude-oil derivatives, aiming to enhance sustainability in skincare and haircare formulations.

March 2025

Sun Chemical unveiled striking vibrant, metallic and vegan pigments at the in cosmetics Global 2025 in Amsterdam by introducing Chione Electric Scarlet SR90D and Sienna SC90D with intense shimmer, non staining, UV stable. These carmine-free solutions help to meet the demand for vegan products.

March 2025

Estée Lauder partnered with Startup India by signing a first of its kind MoU with DPIIT, a part of the Ministry of Commerce & Industry. The alliance integrated the Startup India platform with ELC’s BEAUTY&YOU India accelerator for offering funding, mentorship, industry insights and a dedicated track for women founded beauty startups.

October 2024

Celine made a bold entry into cosmetics with its inaugural Le Rouge Celine satin lipstick. The debut shade Rouge Triomphe features a luxurious satin finish, 89% natural-origin formula and a refillable faceted gold case embossed with the Triomphe motif. A full palette of 15 shades was scheduled for a launch in January 2025.

Technological Innovation in Formulation

The cosmetics industry is embracing cutting-edge science to enhance product performance and safety. In January 2025, IBM and L’Oréal jointly developed the first AI-powered cosmetic formulation model to accelerate sustainable, bio sourced ingredients and reduce waste. Nanotechnology improves product delivery and absorption, while biotechnology enables sustainable ingredient sourcing. These innovations create highly effective, multifunctional products that appeal to consumers seeking both luxury and practicality.

Aging Population and Anti-Aging Products

The global aging population is fuelling the demand for anti-aging cosmetics. Products targeting wrinkles, fine lines, age spots, and sagging skin are experiencing steady growth. Consumers are looking for non-invasive alternatives to cosmetic surgery, turning to serums, creams, and treatments with ingredients, such as retinol, collagen, and peptides. In August 2024, Purple Pompa introduced a groundbreaking skincare line targeting anti-aging and skin rejuvenation, combining advanced ingredients for firmer, radiant, youthful-looking complexion. Brands are also incorporating science-backed claims and dermatological testing to build credibility.

Sustainability and Eco-Friendly Packaging

Sustainability is fostering the cosmetics market development as consumers are demanding environmentally responsible practices, from ingredient sourcing to packaging disposal. Brands are transitioning to recyclable, biodegradable, or refillable packaging to reduce plastic waste. In November 2023, Boom! Beauty introduced new sustainable packaging made from recyclable and biodegradable materials, aligning with its commitment to eco-friendly practices. Sustainability drives not only brand perception but also customer loyalty, especially among millennials and Gen Z who prioritize planetary impact.

Premiumization and Luxury Cosmetics

Consumers are willing to pay a premium for high-quality, luxurious cosmetics that offer superior performance, brand prestige, and sensorial experiences. Premiumization is fuelled by rising disposable income, aspirational lifestyles, and the desire for indulgence. In February 2025, Hyue debuted as a premium colour cosmetics brand in India for offering high-performance makeup with luxurious appeal and modern, trend-driven formulations. As customers seek self-care and experiential purchases, luxury cosmetics offer both functionality and emotional appeal, reinforcing this fast-growing segment.

Global Expansion and Emerging Markets

The cosmetic industry value is increasing with brands expanding aggressively into emerging markets across Asia, Latin America, and Africa. Rising incomes, urbanization, and exposure to global trends via social media are key drivers. China, India, Brazil, and Nigeria present massive growth opportunities. In October 2024, Evonik and Kolmar Wuxi formed a strategic partnership to drive innovation in China's beauty industry by focusing on developing sustainable ingredients, sun care, color cosmetics solutions, and efficient active ingredients Global players are also forming partnerships, acquiring local brands, or launching region-specific lines.

Cosmetics Industry Segmentation

The report titled “Cosmetics Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Breakup by Product

• Hair Care
• Skin and Sun Care
• Makeup and Colour Cosmetics
• Fragrances and Deodorants
• Others

Key Insight: Skin and sun care is the most dominant segment in the cosmetics market, driven by increasing consumer awareness about skin health, aging prevention, and sun protection. Innovations, such as clean, natural ingredients and personalized skincare formulations have fueled growth. Rising concerns over UV damage and pollution have expanded demand for multifunctional products. In May 2025, Emcutix introduced SOLGLO, a clinical-grade sunscreen offering broad-spectrum UV protection, combining advanced formulation with skin-friendly ingredients. Asia-Pacific and North America are key markets, with K-beauty’s emphasis on skincare routines are further boosting segment popularity.

Breakup by End-User

• Men
• Women
• Unisex

Key Insight: The women segment is the most established in the cosmetics market, driving majority of sales in skincare, makeup, haircare, and fragrances. Women’s beauty routines include a wide variety of products, from anti-aging creams to color cosmetics. Brands focus heavily on this segment with extensive product lines and marketing campaigns. In January 2025, Kushmanda Cosmetics Pvt Ltd introduced Born16, its colour cosmetics brand designed exclusively for Indian women. Social media and influencer culture amplify trends, encouraging product experimentation. The rise of clean beauty and inclusivity in shade ranges reflects the diverse needs of female consumers globally.

Breakup by Price Range

• Mass
• Mid-premium
• Premium

Key Insight: The mass segment is adding to the cosmetics industry value due to its affordability, wide accessibility, and extensive consumer base. Products in this category are sold via supermarkets, drugstores, and online platforms, making them easily available to the public. Brands are offering reliable quality at budget-friendly prices. In December 2024, Eva NYC relaunched its mass-market haircare line with sustainable, user-friendly packaging, clinical testing, and bond technology products, all under $20 The mass segment is especially strong in emerging economies, where consumers seek value without compromising performance.

Breakup by Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Specialty Store
• Offline
• Online
• Others

Key Insight: The online channel is driving the cosmetics market expansion owing to its convenience, vast selection, and personalized shopping experience. Consumers increasingly prefer digital platforms for product comparisons, reviews, and try-on tools. E-commerce giants offer virtual try-ons, same-day delivery, and exclusive online deals. In March 2022, Lazada rolled out AI/AR-powered virtual try-on across LazMall flagship stores, letting users a variety of sample lip, eye, foundation shades live via Perfect Corp’s technology. Digital-first brands exemplify this shift. The ability to shop anytime, anywhere makes online the most powerful and scalable retail segment.

Breakup by Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Key Insight: Asia-Pacific leads the cosmetics market, driven by large population, rising disposable incomes, and beauty-centric cultures. China, Japan, South Korea, and India are major growth engines. South Korea, for instance, leads in K-beauty innovations, influencing global skincare trends. In April 2025, South Korea launched a KRW40 billion (USD 27 million) fund to support K beauty startups, mitigating potential United States tariff impacts and sustaining growth. E-commerce, influencer marketing, and tech-savvy consumers fuel demand across skincare, makeup, and personal care categories. Rapid urbanization and demand for premium and natural products further accelerate expansion.

Cosmetics Market Share

Hair Care & Makeup and Colour Cosmetics to Gain Popularity

Hair care is a large segment of the cosmetics industry, encompassing shampoos, conditioners, treatments, and styling products. Increasing focus on scalp health, hair fall solutions, and natural ingredients drives demand. The rise of clean beauty has led brands to offer sulfate-free and organic options. Men’s grooming trends have expanded product lines for male consumers. Innovations in colour protection and damage repair further stimulate sales. The segment thrives across all major regions, especially in Asia-Pacific, where traditional herbal formulations blend with modern technology.

Makeup and colour cosmetics comprise products, such as foundations, lipsticks, eyeshadows, and blushes. Trends toward inclusivity and diversity have led brands to revolutionize shade ranges. Digital innovation, including virtual try-ons and influencer marketing, enhances consumer engagement. In October 2024, Myntra launched the ‘Looks Virtual Try-On’ feature, an AR tool that allows users to virtually try on products, such as foundation, eyeshadow, lipstick, and blush simultaneously. Premium and indie brands cater to niche preferences, expanding market reach.

Unisex & Men Cosmetics to Record Popularity

The unisex cosmetics market value is rapidly growing as gender norms evolve. Products, such as skincare, fragrances, and deodorants designed for all genders appeal to younger, progressive consumers who prioritize simplicity and inclusivity. Brands have successfully marketed unisex ranges, emphasizing natural beauty and multifunctional use. This approach taps into a broader market by reducing gender-specific marketing, promoting sustainability, and addressing evolving consumer identities. Unisex cosmetics are especially popular in North America and Europe, reflecting cultural shifts and increased demand for gender-neutral products.

The men cosmetics demand is expanding quickly due to rising awareness of male grooming and skincare. Major brands cater to this demographic with targeted formulations and straightforward routines. The rise of metrosexual culture and social acceptance of male grooming habits have expanded this market globally. In December 2022, Kao Corporation launched UNLICS, a cosmetic brand targeting Gen Z men for offering deeper self-expression beyond basic grooming through innovative beauty solutions. Marketing campaigns also feature male influencers and athletes, further normalizing cosmetics use among men.

Greater Interest in Mid-Premium & Premium Cosmetics

The mid-premium segment of the cosmetics industry balances affordability with aspirational appeal, targeting consumers who seek quality and efficacy without the high cost of luxury brands. This segment is growing steadily, driven by increasing disposable incomes and shifting preferences toward better ingredients and more effective formulations. Often sold in specialty stores and online, mid-premium cosmetics attract loyal customers through consistent performance and ethical values. This segment thrives in urban areas in North America, Europe, and Asia, bridging the gap between mass-market accessibility and premium brand experience.

The premium cosmetics market holds strong influence due to its association with luxury, high performance, and brand prestige. Products in this tier use advanced technologies, rare ingredients, and elegant packaging to justify their high prices. Premium cosmetics appeal to consumers who prioritize status, exclusivity, and superior results. In April 2025, South Korean makeup brand BRAYE launched its lip tint line in a sleek pen-like packaging in Japan by combining stylish design and on-the-go convenience. Growth is driven by affluent consumers in developed regions and the rising luxury market in Asia-Pacific.

Offline stores & Supermarkets and Hypermarkets to Drive Cosmetic Sales

Offline retail remains a strong contender in the cosmetics market forecast, especially for consumers who value the tactile experience of testing products before buying. Department stores, branded outlets, and malls are offering in-person consultations and beauty services. Brands thrive in physical locations where customers seek expert advice. Though impacted by the rise of e-commerce, offline retail is recovering through experiential offerings, such as pop-up shops and personalized skincare analysis. Many luxury and premium brands still prioritize offline presence to maintain brand image. Offline shopping is particularly dominant in regions with limited digital infrastructure or consumer preferences for physical shopping.

Supermarkets and hypermarkets are important for mass-market cosmetics, offering affordability, accessibility, and convenience. These retail formats appeal to time-conscious shoppers seeking one-stop solutions for groceries and beauty products. With regular promotions and bulk deals, they capture a wide consumer base. The visibility of cosmetics alongside everyday items encourages spontaneous purchases. In June 2024, Walmart expanded its luxury beauty range by launching Pretty Smart, a high-quality, under-USD 10 makeup line across 2,800 Unites States stores. This segment performs strongly in suburban and rural areas where specialty stores or premium outlets may be limited.

Cosmetics Market Regional Analysis

Booming Cosmetics Industry in North America & Europe

North America holds a large share of the cosmetics market, led by the United States, where beauty standards, product diversity, and innovation drive strong demand. Consumers prioritize quality, ethical sourcing, and sustainability. Brands thrive by offering inclusive shade ranges and eco-friendly formulations. The region is a hotspot for indie beauty startups, backed by strong social media presence and celebrity endorsements. The popularity of dermo cosmetics and anti-aging solutions also boosts skincare segments. Retail giants along with a robust e-commerce infrastructure, contribute to a dynamic and evolving beauty market.

Europe cosmetics market value is growing with its heritage brands and regulatory emphasis on product safety and sustainability. The European Union’s strict animal-testing bans have led to increased adoption of cruelty-free and vegan cosmetics. In January 2025, Brenntag Specialties partnered with Cambrium to introduce NovaColl, a new vegan collagen, to the United Kingdom, and key European markets including Ireland, Iberia, France, and Italy. Consumer demand leans towards organic, clean-label, and dermatologically tested products. Europe also hosts major beauty expos, further fostering research & development and collaboration.

Competitive Landscape

Key players operating in the cosmetics market are employing strategic approaches to maintain competitiveness and meet evolving consumer demands. With product innovation, brands are focusing on advanced skincare formulations, clean beauty ingredients, and tech-integrated solutions. Sustainability is another major priority, with brands reducing plastic use, adopting recyclable packaging, and promoting cruelty-free, vegan products to appeal to environmentally conscious consumers. Digital transformation plays a vital role, with companies leveraging e-commerce, social media marketing, and influencer partnerships to boost brand visibility and reach younger audiences.

Personalization is increasingly important, with data-driven tools enabling customized product recommendations and targeted advertising. Moreover, market leaders pursue geographic expansion, particularly in emerging markets, where growing middle-class populations drive demand. Strategic acquisitions and partnerships are also common, helping companies broaden their portfolios, enter new segments, and integrate niche or luxury brands. Finally, maintaining strong brand equity through heritage storytelling, celebrity endorsements, and consistent quality remains central to customer loyalty and market share growth.

L’Oréal S.A.

Founded in 1909 and headquartered in Clichy, France, L’Oréal S.A. is the world’s largest cosmetics company, leading in beauty innovation with advanced research in dermatology and sustainability. L’Oréal’s success includes pioneering personalized skincare technologies and AI-based beauty diagnostics, reinforcing its global influence across skincare, haircare, and makeup segments.

Unilever plc

Unilever plc, established in 1929 and based in London, United Kingdom, is a global leader in consumer goods. Known for its diverse portfolio, including Dove and Axe, Unilever has made strides in sustainability. The brand champions circular economy practices and has introduced biodegradable packaging, aiming to cut plastic waste and carbon emissions.

The Estée Lauder Companies Inc.

Founded in 1946 and headquartered in New York City, The Estée Lauder Companies Inc. is a leader in luxury beauty, revolutionizing prestige skincare and makeup. Estée Lauder has embraced augmented reality for virtual try-ons and personalized beauty experiences, while expanding globally with brands including MAC, Clinique, and La Mer.

The Procter & Gamble Company

Procter & Gamble, founded in 1837, is headquartered in Cincinnati, the United States. Renowned for brands like Olay and Pantene, P&G excels introduced AI-driven consumer insights and sustainable manufacturing processes, consistently leading in personal care with a focus on performance and environmental responsibility.

Other players in the cosmetics market include Shiseido Co., Limited, L Brands, Kao Corporation, Oriflame Cosmetics Global SA, Christian Dior SE, Beiersdorf AG, Groupe Clarins, Huda Beauty Limited, Revlon, Inc., Coty Inc., Avon Products, Inc., Company 7, Godrej Group, Henkel AG & Co KGaA, Kao Corporation, and Hoyu Co., Ltd., among others.

Key Features of the Cosmetics Market Report

• Comprehensive quantitative analysis of global and regional cosmetics market growth trends.
• In-depth segmentation by product, end user, price range distribution channel, and region.
• Detailed competitive landscape with profiles of leading industry players.
• Market forecasts through 2034 using advanced statistical models.
• Insightful analysis of emerging innovations and consumer preferences.
• Impact assessment of regulatory changes and sustainability initiatives.

Why Choose This Research?

• Trusted insights based on verified data and expert analysis.
• Customized reports tailored to your specific business needs.
• Access to up-to-date market intelligence and future projections.
• Dedicated support from industry specialists for strategic decisions.