We all want to look and feel good every day, and cosmetics are one of the many ways to achieve this. With more and more people across the nation buying personal care and beauty products, the cosmetics industry is growing fast with shifting trends and ever-evolving technologies.
Are you wondering what the future holds for the beauty & cosmetic industry?
This article will help you understand some valuable beauty & cosmetic industry stats and trends.
Let’s take a look at the general stats below.
Beauty & Cosmetic Industry Stats Highlights
- The beauty industry was worth $511 billion in 2021.
- The annual total revenue is expected to top $716 billion by 2025.
- Skincare alone accounted for 42 percent of the global market.
- The beauty industry generates over $100 billion in revenue worldwide.
- L’Oreal is the most prominent name in the industry, making $34.4 billion in 2019 alone.
On This Page
- 1 Beauty & Cosmetic Industry – Key Stats
- 1.1 The beauty industry was worth $511 billion in 2021.
- 1.2 The annual total revenue is expected to top $716 billion by 2025.
- 1.3 Skincare alone accounted for 42 percent of the global market.
- 1.4 The beauty industry generates over $100 billion in revenue worldwide.
- 1.5 L’Oreal is the largest name in the industry, making $34.4 billion in 2019 alone.
- 2 Additional Beauty Industry & Cosmetic Industry Stats
- 3 Wrapping Up
Beauty & Cosmetic Industry – Key Stats
Now let’s dive into the stats a bit deeper.
The beauty industry was worth $511 billion in 2021.
In the past decades, the demand for beauty and cosmetology services has been unprecedented. Quarantine brought plenty of time to develop a skincare routine. Skincare brands used this to their advantage. The beauty industry was “up from $483 billion in 2020 to $511 billion in 2021” and continues to grow.
The annual total revenue is expected to top $716 billion by 2025.
2020 was a rollercoaster year for the beauty industry. Big brands with brick-and-mortar locations were hit hard by COVID-19 lockdowns, forcing marketers to create new ways to sell to customers. As a result, many eCommerce and direct-to-consumer (DTC) brands saw an increase in sales due to the pandemic because millions of people had to shop almost exclusively online. The global cosmetic sales in 2020 were a whopping $483 billion with an annual growth rate of 4.75%, and the total revenue is expected to top $716 billion by 2025.
Skincare alone accounted for 42 percent of the global market.
Millions of beauty products are sold every day. Skincare, haircare, makeup, perfumes, toiletries and deodorants, and oral cosmetics are the main product categories of the cosmetics market. Skincare was the leading category, accounting for about 42% of the global market in 2020. It is one of the most profitable product categories, as its revenue is projected to generate roughly 177 billion U.S. dollars in 2025.
The beauty industry generates over $100 billion in revenue worldwide.
Since 2020, the beauty industry has boomed and reportedly generated about $100 billion in revenue worldwide. The beauty industry slowed during the pandemic by 8% in 2020. But things are looking up as 2021 marked the best year ever for cosmetics. And overall, beauty industry revenue is expected to surpass $120 billion by 2025. In addition, shoppers are 40% more likely to try new beauty products today than before the pandemic.
L’Oreal is the largest name in the industry, making $34.4 billion in 2019 alone.
Not many names in the beauty industry reach this level of “superstardom.” More than a century old and a household name throughout its lifetime, L’Oreal is the leader in sales worldwide. It is truly an industry giant and is known by consumers from all four corners of the world. Thanks to its great products, ample marketing, and high quality, the total Loreal revenue for the July-September period in 2021 reached a whopping $8.27 billion, which is 1.6% more than the previous year.
Additional Beauty Industry & Cosmetic Industry Stats
- The Asia-Pacific and North American regions account for more than 60% of the global cosmetics market.
- Americans spend between $244 and $313 on cosmetics every month.
- Pre-COVID-19, nearly 85% of all beauty product shopping took place in brick-and-mortar.
- 82% of women believe social media is what dictates how different trends shift.
- The global makeup market is estimated to be worth approximately $85 billion.
- Skincare and hair care products represent almost 60% of the global cosmetics market combined.
- Beauty and personal care products are estimated to have a 3.3% global CAGR in 2021.
Despite the unprecedented crisis triggered by the pandemic in 2020, the beauty and cosmetics industry continues to be profitable worldwide. Today, more and more women and men are purchasing skincare products, hair care products, makeup, perfumes, deodorants, and oral care products. As such, the industry has no sign of slowing down. With the average American spending between $244 and $313 on cosmetics every month, the future of the cosmetics industry looks bright.
We hope that this article has given you some valuable insights and information.
That’s all for today.