Premium Cosmetics Market Report and Forecast 2025-2034

The global premium cosmetics market attained a value of USD 153.68 Billion in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 8.70% to reach USD 353.93 Billion by 2034.

Rising Disposable Income of the Middle Class Population Boosting the Premium Cosmetics Industry

The premium cosmetics industry is led by the rising demand for natural and organic products. Premium cosmetics brands are redefining themselves in order to meet consumer’s demands while providing the best quality at the lowest price. Makeup has been used as a beauty aid for ages, and as the focus on visual aesthetics and attractiveness is increasing, the industry is witnessing significant growth. Moreover, the increasing demand for long-lasting makeup products and anti-ageing products due to the rising beauty consciousness is aiding the market growth. The rising economic independence of women consumers has increased their purchasing power, further invigorating the market growth. The development of products with ethical, experimental, innovative, and authentic qualities, along with the growing focus on longevity, is boosting the market growth. Rising awareness regarding personal grooming is also lubricating the market growth.

The rising consumer awareness and the shift from mass-produced to premium products have significantly increased in the past few years. Additionally, the demand for products with high efficiency and active ingredients is also catalysing the market growth. Moreover, increasing brand recognition and the launch of new products by the major brands are also boosting the market. Also, new makeup trends related to elevated hygiene and clean and transparent skin is expected to augment the industry growth. The rising concerns about various skin problems such as acne and pimples are also contributing to the market growth.

Premium Cosmetics Market Segmentation

Cosmetics are any substances that are used to clean, improve, or change the complexion, skin, hair, nails, or teeth. They generally include beauty products and grooming aids. Premium cosmetics contain a ton of active ingredients. Cosmetics can be produced in the organic and hypoallergenic form to meet the consumer’s demand.

Based on nature, the premium cosmetics is segmented into:

• Natural and Organic
• Conventional

The major products of premium cosmetics are:

• Skin Care
• Hair Care
• Makeup
• Fragrance
• Others

The market can be broadly categorised on the basis of gender into:

• Male
• Female
• Unisex

Based on the distribution channel, the market is divided into:

• Supermarket and Hypermarket
• Cosmetics Shops
• Online
• Others

The report looks into the regional markets of premium cosmetics like:

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

Increasing Demand for Sustainable Products to Bolster the Market Growth of Premium Cosmetics

The demand for cruelty-free and gluten-free products is one of the significant drivers of the industry. Additionally, brands are continuously redefining themselves in order to meet consumers’ demand for organic and cruelty-free products, for which they are reassessing their commitment to social and sustainable responsibility; the surging demand for eco-friendly products is leading the market. Moreover, the development of customised cosmetics based on a person’s skin type and facial features is also expected to aid the market growth. In addition to this, the increasing focus on supply chain and price transparency to earn the trust of the consumers is lubricating the market growth. The rising focus on overall wellbeing and conscious consumerism has increased the demand for vegan products and is providing further impetus to the market.

Digital advances and sustainable self-care products that provide unique experiences are also anticipated to boost the market. Internet penetration and the flourishing social media have widely expanded the market for premium cosmetics. Furthermore, makeup has become more gender inclusive, and men’s cosmetics is witnessing robust growth in the past few years. For instance, Chanel launched an exclusive men’s makeup line, Boy de Chanel, in South Korea, which includes tinted fluid, matte moisturising lip balm, and four shades of eyebrow pencil. The further development in the makeup for men and unisexual cosmetics is expected to propel the market growth.

Key Industry Players in the Global Premium Cosmetics Market

The report presents a detailed analysis of the following key players in the global premium cosmetics market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• The Estée Lauder Companies Inc.
• Oriflame Cosmetics AG
• L'Oréal S.A.
• Unilever PLC
• Elizabeth Arden, Inc
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.