Cosmetics & Personal Care Market Research Reports

Turnover in the Personal care and cosmetics market amounts to US$571.10bn in 2023. The market is projected to grow annually by 3.80% (CAGR 2023-2027).

The cosmetics and personal care industry encompass a wide range of consumer products used for beauty and body care. This market includes a variety of items such as beauty cosmetics for the face, skin care products, lip products, fragrances, and personal care items such as deodorants, hair care products, and shaving products. These products are designed to enhance one’s appearance and improve personal grooming.

This report excludes products in beauty services, such as professional hairdressers and electrical personal care products. In addition, the products primarily served for medical purposes are also excluded here but displayed as a part of the over counter Pharmaceuticals market.

The global cosmetic market size was USD 277.67 Billion in 2020. The global impact of COVID -19 has been unpredictable and surprising, with cosmetics decreasing requirements across all regions amid the pandemic.

Our analysis shows that the worldwide market displayed a low growth of -10.57% in 2020 compared to the average yearly growth from 2017-2019. The expected market rise is from USD 287.94 Billion in 2021 to USD 415.28 billion in 2027. The increase in CAGR is authorized to this market demand and growth, going back to pre- pandemic level once the pandemic is over.

Cosmetics can improve someone’s appearance overall, which can have a favorable effect on personality. Cosmetics are now considered to be necessities in life as a result. A small number of multinational businesses have monopolized the production of such products. To meet the end user’s specific needs, they create a wide range of goods, such as those for the lips, face, and hair. Additionally, rising anti-aging product launches, the creation of creative and helpful packaging designs, and portable fun-size containers are all luring consumers. People may vary from one another in terms of their lip shape, eye color, complexion tone, and hair type. As a result, producers are focusing on creating various items that may satisfy everyone’s needs.

In a global analysis, in the United States, maximum revenue is generated (US$91.41bn in 2023). Regarding total population calculus, the per-person income of US$74.34 will be developed in 2023. In the Personal Care and cosmetic market, 27.4% of total revenue will be contributed through online sales by 2023.

Our Consumer goods category segmentation encompasses:

Consumer Electronics
Luxury & premium products
Homecare & Decor
Apparel, Fashion & Accessories
Consumer and general services
Retailing
Sports, Fitness, and Leisure
Baby products
Pet products and supplies
Entertainment Products
Travel
Packaging

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