According to a report published by Fortune Business Insights, the global cosmetics market size is projected to reach USD 556.21 billion by the end of 2032. The increasing demand for clean-labelled products will bode well for the market in the coming years. A report titled “Cosmetics Market Size, Share & Industry Analysis, By Category (Haircare, Skincare, Makeup, and Others), By Gender (Men and Women), By Distribution Channel (Specialty Stores, Hypermarket/Supermarket, Online Channels, and Others), and Regional Forecast, 2025-2032,” the market size was valued at USD 335.95 billion in 2024 to grow from USD 354.68 billion in 2025 and will exhibit a CAGR of 6.64% during the forecast period.
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LIST OF KEY COMPANIES PROFILED IN THE REPORT
Segmentation Analysis
By Category
The global cosmetics market is segmented into skincare, haircare, makeup, and others. In 2024, the skincare segment dominated with a 35.08% market share, driven by rising demand for skincare products and the introduction of new brands. Companies are expanding their skincare portfolios to meet evolving consumer preferences. For instance, in April 2022, Japan-based Shiseido launched its new skincare brand Ulé in France, enhancing its market presence.
The haircare segment is projected to witness substantial growth throughout the forecast period. Increased awareness of scalp health and the rise in hair-related issues such as dandruff, hair fall, and dryness are fueling demand. In April 2024, U.S.-based epres introduced its Healthy Hair Shampoo & Conditioner, developed using Biodiffusion Technology, further propelling this segment.
By Gender
Based on gender, the market is bifurcated into men and women. The women segment led in 2024, driven by heightened beauty consciousness, urbanization, and increased participation of women in the workforce. The need for protection against pollution and daily skincare routines has fueled product adoption. In March 2022, SOLIA Corporation launched MELCE Sparkling Spa Shampoo for women, featuring carbonated foam technology.
The men segment is expected to grow significantly due to shifting grooming norms and rising interest in personal care. Growing disposable income and a focus on professional appearance are also boosting demand.
By Distribution Channel
The market is segmented into hypermarkets/supermarkets, specialty stores, online channels, and others. In 2024, hypermarkets/supermarkets led due to wide product availability and attractive in-store promotions.
The online segment is poised for rapid growth, fueled by the convenience of home delivery, wider product selection, and increasing consumer preference for digital shopping platforms.
Report Coverage:
The report provides a detailed industry analysis and highlights key aspects such as leading product categories, companies, and distribution channels. The report also offers valuable insights into the latest market trends and covers vital industry developments. In addition to the abovementioned factors, the report encompasses several factors that have contributed to the market’s growth in recent years.
Drivers and Restraints:
Rising Awareness of Importance of Health, Hygiene, and Grooming to Boost Market Growth
The self-care and grooming trend has increased tremendously in recent years as people are becoming more aware of the significance of maintaining good health and hygiene. The importance of grooming has skyrocketed among men and women, consequently boosting the sales of these products. Since more people are following an erratic lifestyle, concerns regarding overall health and wellbeing are rising, further enhancing the demand for cosmetic products.
However, more people are becoming aware of the side-effects of using cosmetics for a long time and have access to surgical options, which can hamper the market progress.
North America Currently Fast Growing Market; Increasing Investment in Product R&D Will Aid Growth
The report analyzes the ongoing cosmetics market trends across North America, South America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, North America will witness the highest growth in the coming years. The massive investments by large scale companies towards the development of organic products will aid the growth of the regional market.
According to the Bureau of Labor Statistics, a government agency, in 2022, the labor force participation rate for women was 56.8% across the U.S. Asia Pacific region accounted for the largest market share in 2024. The market in Asia Pacific will also witness considerable growth in the coming years, owing to the high population and the subsequently high demand for cosmetics and cosmetic products in several countries across this region.
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Industry Developments: