Overview
The cosmetic industry is one of the fastest-growing sectors after the information technology industry.
customer base is large, whether the brand is small or large, niche or diversified, budget or luxury.
Even brands with fewer consumers are expanding their reach through social media and unique packaging designs.
Personal care brands, including makeup, skincare, and haircare, are producing intriguing products that target consumers precisely. This leads to rapid development in the cosmetic field.
12 Key Cosmetic Industry Statistics
Here are 12 insights into the industry’s growth:
- Skincare Products Lead the Market
Skincare products account for a leading share in the cosmetics industry, as healthy skin is the foundation of attractiveness. - Projected Global Market Growth
Revenue in the global cosmetics market is projected to exceed USD 129 billion by 2028, showing strong recovery from the 2020 COVID-19 slowdown.
- L’Oreal as a Leading Beauty Company
L’Oreal tops the list of beauty companies with over USD 40 billion in global sales in 2022, offering low-cost yet fantastic products. - North Asia’s Market Share
North Asia holds more than a third of the USD 460 billion global beauty market, especially known for its skincare products. - Influencer Impact
Influencers significantly affect 65% of consumer buying decisions, as reported by Financial Express. - Instagram Usage Among Buyers
A Harvard Business School article notes that 82% of cosmetics buyers use Instagram daily, influenced by targeted ads. - Increased Skincare Use During COVID-19
The pandemic led to a 40% increase in skincare product usage, as reported by Cosmetics Business. - Annual Spending on Beauty Products
On average, women in the US spend USD 3,756 annually on beauty products, according to Groupon. - Growth in Men’s Personal Care
The men’s personal care market is projected to grow at an 8.6% CAGR through 2030, reaching USD 276.9 billion. - Kylie Cosmetics’ Social Media Influence
With over 25 million followers, Kylie Cosmetics is a leading brand on Instagram. - Organic Skincare Industry Growth
The organic skincare market is set to grow at 8.72% annually, reaching USD 13.76 billion by 2029, according to Mordor Intelligence. - Hair Care Market Valuation
The global hair care market was valued at USD 99.52 billion in 2023, growing at around 10% annually, as stated by Fortune Business Insights.
Conclusion
With innovative products, creative packaging, and heightened consumer awareness, the beauty industry is poised for significant growth. For exceptional and trendy cosmetic packaging in line with FDA standards, Gidea PAC is your go-to solution.
