Global Beauty and Personal Care Products Market is Segmented By Type (Conventional, Organic), By Product (Hair Care, Skin Care, Color Cosmetics, Fragrances, Others), By Distribution Channel (Hypermarkets & Supermarkets, Specialty Stores, E-commerce, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Beauty and Personal Care Products Market Size
The Global Beauty and Personal Care Products Market reached US$ 487.5 billion in 2022 and is expected to reach US$ 624.2 billion by 2030, growing with a CAGR of 5.1% during the forecast period 2023-2030.
Personal care products were previously mainly focused on the female end user and the introduction of men's grooming products has purposely boosted market power, thereby functioning as shifting trends in the global beauty and personal care products industry. Furthermore, the introduction of refurbished and updated items in the women's sector, such as versatile and embellishing products, is expected to boost the personal care product market in the future years. Conventional beauty and personal care products are less expensive than organic products and their widespread availability through numerous distribution channels has fueled category expansion thus far. Traditional cosmetics, on the other hand, usually contain a high percentage of petroleum-based substances, which are toxic to the skin and necessitate significant mining, which can affect animals and soils. It is predicted to hamper the global beauty and personal care products market's growth.
Beauty and Personal Care Products Market Scope
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Metrics |
Details |
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CAGR |
5.1% |
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Size Available for Years |
2021-2030 |
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Forecast Period |
2023-2030 |
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Data Availability |
Value (US$) |
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Segments Covered |
Type, Product, Distribution Channel and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, South America and Middle East & Africa |
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Fastest Growing Region |
Asia-Pacific |
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Largest Region |
Asia-Pacific |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Distribution Channel Type Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Beauty and Personal Care Products Industry Trends
Growing Inclination Towards Chemical Free Products
Concerns about the adverse effects of chemicals in personal care products, which can cause skin irritation, allergies and dullness, have fueled the demand for natural and organic skincare products. Prolonged use of synthetic cosmetics may result in a variety of health problems, including inflammation, hormone imbalance and toxicity. Organic cosmetic products, such as plant extracts and natural oils, on the other hand, have no negative effects on the skin.
Consumers prefer natural skincare and cosmetic goods that are free of chemicals and transparent about the ingredients, which is anticipated to fuel demand for natural skin care products. For example, Lady Green, a French organic beauty company, debuted a collection of organic face care and cosmetics products for blemished, acne-prone skin in February 2021, comprising face wash, face cream, mascara and BB cream, utilizing natural active ingredients such as aloe vera and neem.
Rising Product Innovations
Product innovation is an essential requirement. Consumers' preferences for a single product with increased functionality and numerous advantages such as anti-aging, cleaning, moisturizing, anti-oxidant and UV protection from a single product are changing due to their busy lifestyles. Multifunctional substances are increasingly being used in the manufacture of such goods.
Customers, for example, desire sun care features as well as UV ray protection in their skincare products. This raises the demand for UV filters. Clariant AG, for example, introduced Prenylium, a sustainably derived root-powered active ingredient for premium anti-aging skincare, in January 2020.
High Costs of Products
Various phases of the manufacturing and production procedures for beauty and personal care products include sourcing, testing, blending, packaging and quality control. These operations need specialized equipment, expert labor and tight quality control, all of which add to the overall manufacturing costs.
The rising pricing of beauty and personal care goods is partly related to general inflation induced by the present poly-crisis, which is simply a confluence of adverse occurrences. The conflict in Ukraine, the fallout from COVID, Brexit and a government with less-than-ideal economic policies are all factors. According to a U.S. Bureau of Labor Statistics' Consumer Price Index research, as the inflation rate has grown, so have the costs for cosmetic goods.
Beauty and Personal Care Products Market Segment Analysis
The global beauty and personal care products market is segmented based on type, product, distribution channel and region.
Popularity of Organic and Baby Skin Care Products
The skin care segment in the global beauty and personal care products market is expected to account for more than 1/3rd of the global beauty and personal care products market during the forecast period. The rise is due to the increasing popularity of cosmetics combining natural and organic ingredients such as herbs, plant extracts and fruit extracts.
Skincare products may rejuvenate and protect the skin, remove wrinkles and symptoms of aging, reduce the recurrence of acne and lighten spots and maintain the skin healthy and young. Companies focused on baby skin care products, such as Coty Inc., a famous beauty and body care firm, announced the debut of Kylie Baby, a gentle, safe and mindful infant care line by Kylie Jenner, in September 2021.
Source: DataM Intelligence Analysis (2023)
Beauty and Personal Care Products Market Geographical Share
Upsurge in Millenial Population’s Focus on Hair Care in Asia-Pacific
Asia-Pacific has witnessed significant growth and popularity covering around 1/3rd share of the global beauty and personal care products market in 2022. Countries in Asia-Pacific such as China, India, Japan, Indonesia and Vietnam provide major growth prospects for market participants, owing largely to the expanding millennial population. Hair care solutions are developing as the most affluent and cost-effective approach for dealing with the rising occurrence of hair thinning, volume loss, dryness, and a variety of other hair-related issues among consumers.
As a result, the leading companies are focusing heavily on product innovation and mergers & acquisitions as their primary approach for consolidating the market under consideration. For example, Kao Corporation, in 2021, introduced its hair salon brand Oribe in Japan under its subsidiary Kao Salon Japan. The brand has 23 product lines that are widely distributed in Japan.
Source: DataM Intelligence Analysis (2023)
Beauty and Personal Care Products Companies
The major global players include Unilever, The Estée Lauder Companies Inc., Kao Corporation, Shiseido Co., Ltd., Revlon oriflame Cosmetics S.A., Procter & Gamble, L’Oréal S.A., Avon Products, Inc. and Coty Inc.
COVID-19 Impact on Beauty and Personal Care Products Market
COVID Impact
The COVID-19 pandemic has had a negative impact on the personal care market which has a direct impact on the beauty and personal care products market. The massive drop is the result of several nations' total lockdown policies in order to rigorously comply with social distancing restrictions. The shutdown of manufacturing sites has had a negative impact on the personal care products market. The epidemic also affects purchasers who spend money on necessities. Consumer spending habits have changed towards less expensive personal care products rather than more expensive ones.
The supply-demand chain, as well as cuts in optional costs such as hair styling goods, scent items and make-up products in the personal care sector, have been dramatically reduced as a result of COVID-19, but only in the short term. Hand wash gel, soaps, and sanitizers are the most often purchased items by urban customers. The global shutdown has influenced consumer behavior in the global beauty and personal care products market.
Russia- Ukraine War Impact
Supply chain interruptions, which were already affecting the beauty and personal care products market during COVID-19, have generally continued once the Russia-Ukraine conflict began in February 2022. Top global beauty brands are collaborating with the rest of the world in supporting Ukraine—and their employees in both Ukraine and Russia.
Beauty customers are paying attention to what their favorite brands are doing when news of the Ukraine crisis breaks on social media. On social media, beauty firms are entering the conversation—and totally backing Ukraine. Coty, for example, does not have any stores, sales counters, e-commerce sites or industrial activity in Russia.
Key Developments
- Estée Lauder and Shoppers Stop launched an exclusive SS Beauty store in Mumbai in May 2022. The two firms' collaboration in India has been boosted by this establishment. Only Estée Lauder products such as MAC Cosmetics, Clinique, Bobbi Brown, Jo Malone, Estee Lauder, Smashbox and Tom Ford will be available at the SS beauty store.
- In March 2022, Colgate-Palmolive Company launched Visible White O2 toothpaste. The company has introduced it in the premium personal care market with the goal of targeting a specific customer base with the product.
- Procter & Gamble purchased the premium skincare brand Tula in January 2022, adding to the company's prestige brand portfolio. Tula is a natural skincare line that uses probiotic extracts and superfoods. P&G Beauty will assist the Tula team in driving brand growth and expanding and innovating as part of the purchase deal.
Why Purchase the Report?
- To visualize the global beauty and personal care products market segmentation based on type, product, distribution channel and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of beauty and personal care products market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global beauty and personal care products market report would provide approximately 61 tables, 59 figures and 203 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
