The global cosmetics market Growth Accelerated by Increasing Demand for Natural and Organic Cosmetic Products

 

Cosmetics are personal care products used to enhance one's appearance and overall hygiene. They include products like skin creams, lotions, cleansers, fragrances, makeup, hair care products and numerous others. Cosmetic products help nourish and protect the skin from environmental damage while also giving it a healthy glow.

The global cosmetics market is estimated to be valued at US$ 438.5 Bn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The growth of the global cosmetics market is expected to be accelerated by the increasing demand for natural and organic cosmetic products. There is a rising consumer preference for cosmetic products containing natural ingredients over chemically derived ingredients due to growing health and environmental concerns. Many cosmetic brands are introducing natural lines containing natural extracts and oils to cater to this demand. For instance, L’Oreal launched its organic skincare brand La Provencale in Europe in 2019. Another key trend is the rise of online shopping for cosmetic products. Ease of browsing products from different brands and heavy discounts and offers have made online shopping a popular choice. This is encouraging established brands to strengthen their e-commerce presence.

Segment Analysis

The global cosmetics market is dominated by the skin and sun care segment. This segment accounted for over 30% of the total market share in 2024 due to rising consumer awareness regarding the harmful effects of sun exposure and pollution on skin. The growing demand for anti-aging products and natural/organic cosmetic products is also driving the growth of this segment. The color cosmetics segment is another major segment owing to the increasing usage of make-up products among both male and female consumers across the world for multiple purposes including protection, confidence, and personal care.

Key Takeaways

The global cosmetics market is expected to witness high growth over the forecast period of 2023 to 2030. The global cosmetics market is estimated to be valued at US$ 438.5 Bn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030.

The Asia Pacific region is expected to dominate the market during this period owing to rising expendable incomes, growing working women population, increasing adoption of western lifestyles in countries like China and India. Countries such as China, Japan, and South Korea have emerged as major cosmetics consumption markets in Asia Pacific.

Key players related content comprises
Key players operating in the cosmetics market are L’Oreal S.A, Unilever plc., The Procter & Gamble Company, The Estee Lauder Companies Inc., Shiseido Company, Limited, LVMH Moët Hennessy, Kao Corporation., Oriflame Holding AG, Avon Products Inc., Revlon, Inc. L'Oréal S.A. is the leading player with a broad portfolio of luxury cosmetic products from brands including Lancôme, Urban Decay, and Kiehl's. Unilever also has a major presence in the skin care and hair care segments with brands such as Dove and Sunsilk.

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