Cosmetics Market Size To Exceed USD 760.61 Billion By 2034 With Rising E-Commerce And Digital Beauty Innovations

2025-09-10 07:16:21

(MENAFN- GlobeNewsWire - Nasdaq) The global cosmetics market size is valued at USD 450.20 billion in 2025 and projected to exceed over USD 760.61 billion by 2034, with a CAGR of 6%. Demand for premium, organic, and tech-driven beauty products, along with rising e-commerce adoption and sustainability trends, is fueling this growth

Ottawa, Sept. 10, 2025 (GLOBE NEWSWIRE) -- According to Precedence Research, the global cosmetics market size was calculated at USD 424.72 billion in 2024. It is expected to grow from USD 450.20 billion in 2025 to nearly USD 760.61 billion by 2034. The market is poised to grow at a CAGR of 6% from 2025 to 2034. The growing awareness about grooming, the expansion of e-commerce, and the increasing demand for premium products drive the market growth.

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Cosmetics Market Overview

Cosmetics are products applied to the nails, skin, and hair of humans for altering, beautifying, and preserving the appearance. The purpose of cosmetics is altering appearance, beautification, promote attractiveness, and cleansing. Cosmetics include grooming aids and beauty preparations. Cosmetic helps in highlighting features and concealing imperfections. It helps in creating a creative transformation and boosting confidence. The growing concerns like dark spots, wrinkles, acne, hair loss, hair weakening, fine lines, and many more increase demand for cosmetics.

Cosmetics Market Key Takeaways

In terms of revenue, the global cosmetics market is anticipated to reach USD 450,200 million in 2024.
North America dominated the market by holding more than 34% of market share in 2024.
By category, the skin and sun care products segment dominated the market in 2024.
By gender, the women segment held the biggest market share in 2024.
By distribution channel, the hypermarkets/supermarket segment accounted for the highest market share in 2024.

Cosmetics Market Latest Trends

1. Biotech & Regenerative Beauty

Innovative biotech is transforming skincare with lab-grown and sustainable ingredients like vegan collagen and plant-based alternatives, focusing on cellular repair and longevity.

2. AI, AR & Personalized Experiences

Artificial intelligence and augmented reality are enabling highly personalized beauty experiences, including virtual try-ons, AI skin diagnostics, and tailored product recommendations.

3. Holistic Beauty & Longevity

Beauty is increasingly seen as a reflection of overall well-being, with consumers turning to products that support inner health, stress reduction, and long-term skin vitality.

4. Sustainability as a Baseline

Eco-friendly packaging, waterless formulations, carbon-neutral production, and ethical sourcing have become fundamental expectations across all consumer segments.

Case Study: AR Try-On and AI Shade Matching Reduce Returns and Lift Sales
A global cosmetics company specializing in color products faced frequent product returns due to mismatched shades, especially in foundations and lipsticks. To address this, the brand launched an augmented reality (AR) try-on tool across its website and mobile app, allowing shoppers to virtually test products using their cameras. Alongside this, an AI-powered shade matcher was integrated, analyzing skin tones against a large swatch database to recommend the most accurate match.

The impact was substantial. Customers using the try-on feature had a conversion rate 2.1 times higher than non-users, while return rates dropped by 27% . Engagement metrics also improved-average time spent on product pages rose by 52% , and add-to-cart rates climbed by 31% . Retailers benefited as well: physical stores that introduced QR-enabled smart mirrors saw basket sizes increase by 14% .

This example shows how digital beauty innovations are solving real customer pain points while boosting both revenue and customer satisfaction, underscoring why AR and AI are becoming central to the cosmetics industry's future.

Cosmetics Market Opportunity:

What is the Opportunity for the Cosmetics Market?

Growing Shift Towards Organic and Natural Products

The increasing consumer awareness about the adverse effects of synthetic chemicals increases demand for natural and organic products. The growing environmental concerns are increasing the development of natural and organic products. The increasing Gen Z and millennial consumer increases demand for natural products that are made up of plant-based ingredients. The strong focus on sustainability increases the production of organic products. Consumers focus on transparency, and the increasing demand for products with lower skin irritation increases the adoption of natural products.

The manufacturers like Lotus Herbals, Giovanni Cosmetics, Burt's Bees, HCP Wellness, and Estee Lauder Companies produce organic cosmetics products. The growing production of products like moisturizers, makeup products, serums, toners, and others uses organic ingredients like shea butter, plant-based collagen, jojoba oil, and aloe vera. The growing shift towards organic and natural products creates an opportunity for the growth of the cosmetics market.

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Cosmetics Market Limitations and Challenges:

What is the Limitation for the Cosmetics Market?

High Manufacturing Cost Limits Expansion of the Market

With several benefits of cosmetics in personal care and hygiene, the high manufacturing cost restricts the market growth. Factors like rigorous testing, need for high-cost raw materials, expensive packaging, complex formulations, and regulatory compliance are responsible for the high production cost. The rare ingredients like peptides & active ingredients like hyaluronic acid & retinol increase the cost.

The complex manufacturing processes for manufacturing molding lipsticks and emulsifying mascaras increase the cost. The stringent testing and rigorous quality control require a high cost. The need for specialized packaging, like jars, droppers, bottles, and pumps , increases the cost. The complex formulations and high investment in research & development directly affect the market. The high manufacturing cost hampers the growth of the cosmetics market.

Cosmetics Market Report Coverage

Report Highlights	Details
Market Size in 2024	USD 424.72 Billion
Market Size in 2025	USD 450.20 Billion
Market Size in 2031	USD 638.62 Billion
Market Size by 2034	USD 760.61 Billion
Growth Rate 2025 to 2034	CAGR of 6%
Leading Region in 2024	North America
Fastest Growing Region	Asia Pacific
Base Year	2024
Forecast Period	2025 to 2034
Segments Covered	Category, Gender, Distribution Channel, and Region
Regional Scope	Asia Pacific, North America, Europe, Latin America, Middle East and Africa

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Cosmetics Market Key Regional Analysis

How North America Dominated the Cosmetics Market?

North America dominated the cosmetics market in 2024. The strong focus on personal grooming and the increasing need for aesthetic enhancement increase the adoption of cosmetics. The well-established retail infrastructure and strong presence of digital infrastructure increase the purchasing of cosmetics.

The growing demand for clean products and fashion consciousness increases the adoption of cosmetics. The increasing awareness about personal appearance and focus on grooming increases demand for cosmetics. The growing demand for men's cosmetic products drives the overall growth of the market.

How Big is the U.S. Cosmetics Market?

The U.S. cosmetics market size was evaluated at USD 101.48 billion in 2024 and is projected to surpass around USD 185.26 billion by 2034, at a CAGR of 6.2% from 2025 to 2034.

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U.S. Cosmetics Market Trends:

Sustained Market Growth & Shifting Spending Patterns

The U.S. cosmetics market continues to grow steadily, driven by rising consumer interest in skincare, self-care routines, and premium beauty products, with increased spending across both mass and luxury segments.

Rise of Clean, Inclusive, & Personalized Beauty

Consumers are demanding clean, vegan, cruelty-free, and sustainable cosmetics, with brands also focusing on inclusivity by expanding product ranges to suit diverse skin tones and types. Personalization is on the rise, offering customized skincare and makeup based on individual preferences and needs.

Digital Transformation & Social Commerce

Online sales dominate a large share of the cosmetics market, with e-commerce platforms and beauty-specific online retailers becoming critical channels. Social commerce is growing rapidly, driven by platforms like TikTok and Instagram, where beauty trends often go viral and drive impulse buying.

Shift Toward Niche, Independent, & Eco-Conscious Brands

Independent and emerging brands are growing faster than established players, often leading innovation in sustainability, transparency, and authenticity. Consumers are increasingly willing to pay more for products with ethical sourcing and eco-friendly packaging.

What is Driving Asia Pacific's Cosmetic Market Growth?

Asia Pacific is experiencing the fastest growth in the market during the forecast period. The increasing spending on beauty products and the growing adoption of a daily skincare routine increase demand for cosmetics.

The increasing awareness about grooming and the strong presence of digital media increase the purchasing of cosmetics. The shift towards sustainable cosmetic products and preference for high-tech products increases the manufacturing of cosmetics. The high influence of J-beauty and K-beauty supports the overall growth of the market.

Cosmetics Market Segmentation Analysis:

Category Analysis

Why did the Skin Care & Sun Care Products Segment Dominate the Cosmetics Market?

The skin care products & sun care products segment dominated the cosmetics market in 2024. The growing issues like skin damage, acne, and aging increase demand for skincare and sun care products. The focus on anti-aging concerns like hyperpigmentation, wrinkles, and fine lines increases demand for skincare products.

The increasing awareness about the effects of UV radiation and the high popularity of outdoor activities like beach vacations, sports, and hiking increase demand for sun care products. The strong demand for blue light protection and growing awareness about skin health increase demand for skincare & sun care products, driving the overall growth of the market.

The hair care segment is the fastest-growing in the market during the forecast period. Growing hair concerns like hair damage, hair loss, and dandruff increase demand for hair care products. The increasing demand for natural hair care products and growing consciousness about hair health increase the demand for hair care products. The trend of hair styling & coloring, and high spending on premium hair care products, supports the overall growth of the market.

Gender Analysis

How Women Segment Held the Largest Share in the Cosmetics Market?

The women segment held the largest revenue share in the cosmetics market in 2024. The strong focus on women's physical appearance and growth in feminine rituals increases demand for cosmetics. The growth in working women and rising awareness bout self-care in women increases the adoption of cosmetics. The strong base of female consumers and high spending on cosmetic products drives the overall growth of the market.

The men's segment is experiencing the fastest growth in the market during the forecast period. The men's focus on breaking stereotypes and on appearing young increases demand for cosmetics. The rising building of confidence and focus on enhancing self-image in men increases demand for cosmetics. The growing male influencers on platforms like TikTok, Instagram, & YouTube, and rising sports personalities increases demand for cosmetics, supporting the overall growth of the market.

Distribution Channel Analysis

Which Distribution Channel Dominated the Cosmetics Market?

The hypermarkets/supermarkets segment dominated the cosmetics market in 2024. The availability of a wide range of products and focus on bulk purchasing increase buying from hypermarkets/supermarkets. The strong focus on one-stop shopping and the increasing demand for physical product experience have increased purchasing from hypermarkets/supermarkets. The availability of promotional offers, personal advice, and makeup assistance drives the overall growth of the market.

The online sales channels segment is the fastest-growing in the market during the forecast period. The growing internet access and high penetration of smartphones increase the purchasing of cosmetics from online sales channels. The easy access to exclusive brands and the easy browsing of various products increase buying from online channels. The growing personalized recommendations and increasing Gen Z & millennials population increase purchases from online channels, supporting the overall growth of the market.

Cosmetics Market: Value Chain Analysis

Raw Material Sourcing

Activities: Procurement of natural and synthetic ingredients such as oils, pigments, chemicals, botanical extracts, preservatives, and packaging materials.
Value Creation: Sourcing high-quality, sustainable, and innovative ingredients (e.g., biotech-derived, organic, vegan) differentiates products and drives consumer trust.

Research & Development (R&D)

Activities: Formulation of new products, testing for safety and efficacy, developing innovative technologies (e.g., biotech, AI personalization), and compliance with regulations.
Value Creation: Product innovation, efficacy, and safety enhance brand reputation and consumer loyalty. Customization and new active ingredients can command premium pricing.

Manufacturing & Production

Activities: Blending, filling, packaging, and quality control of cosmetic products at scale, often involving contract manufacturers.
Value Creation: Efficient production ensures consistent quality and cost control. Sustainable manufacturing practices can reduce environmental impact and appeal to eco-conscious consumers.

Branding & Marketing

Activities: Brand development, advertising campaigns, influencer collaborations, digital marketing, social media presence, and product launches.
Value Creation: Strong branding builds emotional connections, differentiates products, and drives demand. Influencer marketing and social commerce increase reach and sales velocity.

Cosmetics Market Top Companies

Avon Products Inc. – Avon offers a wide range of beauty, skincare, fragrance, and personal care products, often sold through direct selling and independent representatives.
Kao Corporation – Kao provides high-quality cosmetics, skincare, and haircare products under brands like Bioré and Kanebo, focusing on beauty and personal hygiene.
L'Oréal S.A. – L'Oréal is a global leader in beauty and cosmetics, offering products across makeup, skincare, haircare, and fragrances under brands like Lancôme, Maybelline, and Garnier.
Oriflame Cosmetics S.A. – Oriflame specializes in natural and sustainable beauty products, including skincare, color cosmetics, and wellness items, primarily through direct sales.
Revlon, Inc. – Revlon delivers a broad portfolio of beauty and personal care products including makeup, hair color, skincare, and fragrances with mass-market appeal.
Shiseido Company Limited – Shiseido offers luxury skincare, cosmetics, and fragrance products, emphasizing innovation and traditional Japanese beauty science.
Skin Food Co., Ltd. – Skin Food is a South Korean brand known for its food-based skincare and cosmetic products that use natural ingredients like fruits, vegetables, and grains.

Cosmetics Market Recent Developments

In April 2025, Ananya Birla launched the color cosmetics brand LOVETC in India. The brand includes volumizing mascaras, advanced lipsticks, and long-wear eyeliners.(Source: )

In January 2025, Kushmanda Cosmetics launched a new beauty brand, Born 16, for Indian women. The brand possesses the Tamaraa and Moon Duchess collections, including eyeshadow palettes, serum foundation, blushes, mascara, compact blush, matte lipsticks, compact powders, dual kajal & eyeliner stick, and liquid matte lipsticks. The company supports celebrating individual beauty, self-love, and breaking societal constraints. (Source: )
In August 2025, Louis Vuitton launched 55 lipsticks for makeup lovers. The product range includes 8 LV Ombres eyeshadows, 55 LV rouge lipsticks, and 10 LV Baume tinted lip balms. The range consists of 28 matte and 27 satin formulas of lipsticks. (Source: )

Cosmetics Market Segments Covered in the Report

By Category

Skin & sun care products
Hair care products
Deodorants & fragrances
Makeup & color cosmetics

By Gender

Men
Women
Unisex

By Distribution Channel

Hypermarkets/Supermarkets
Specialty Stores
Pharmacies
Online Sales Channels
Other

By Region

North America
- U.S.
- Canada
Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Denmark
- Norway
Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
Latin America
- Brazil
- Mexico
- Argentina
Middle East & Africa
- South Africa
- UAE
- Saudi Arabia
- Kuwait

Thank you for reading. You can also get individual chapter-wise sections or region-wise report versions, such as North America, Europe, or Asia Pacific.

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