Cosmetics Market is to grow at a 5.25 % CAGR, with the Asia-Pacific leading the market through 2032

The Cosmetics Market (BPO) will reach USD 704.17 Bn by 2032. The Cosmetics Market is Driven by Expansion of Beauty Communities and Consumer Education.

Cosmetics Market to Hit USD 704.17 Bn by 2032  

The Cosmetics Market was USD 467.63 Bn in 2024 and is expected to expand at a CAGR of 5.25 % from 2025 to 2032, reaching USD 704.17 Bn by 2032. Douglas, a German retailer, has updated its financial projections for the fiscal year 2024–2025, pointing to a decline in consumer mood in important European regions, including France and Germany. Nicolas Hieronimus, the CEO of L’Oréal, has acquired the European Union to keep American cosmetics off lists of possible trade retaliation.

65% of buyers have bought cosmetics that influencers on social media sites like Instagram and TikTok recommended. Consumers are increasingly seeking cosmetics made using organic and sustainably derived ingredients, motivated by worries about the effects of synthetic chemicals on the environment. The global spread of beauty trends, especially those from China (C-beauty) and Korea (K-beauty), has brought new goods and varied beauty standards, enhancing the cosmetics industry worldwide. In 2022, Ulta Beauty was the largest retailer of cosmetics in the United States, with almost $10.2 billion in sales. Sephora followed with revenues of about $7 billion.

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Cosmetics Market Segmentation

By Distribution Channel: The Offline channels made up around 71.17% of the US cosmetics business in 2023. Hypermarkets, supermarkets, specialty shops, brand stores, shopping centers, convenience stores, and ordinary food stores are important offline locations. The online segment is expanding significantly, with a CAGR of 7.1% anticipated between 2025 and 2032. Major platforms include Amazon, Ulta.com, Sephora.com, Walmart.com, and Target.com.

Cosmetics Market Regional Analysis

United States: The cosmetics business in the United States is expected to generate approximately $21.45 billion by 2025 and is expected to experience an annual growth rate of 3.74% from 2025 to 2032. The per-person revenue of the cosmetic market is about $62.42 in 2025. By 2025, online sales in the US are estimated to contribute approximately 65.9% of the total revenue in the beauty and personal care market.

Germany: In 2025, the German cosmetics market is projected to generate approximately $2.92 billion in revenue with a CAGR of 2.74% from 2025 to 2032. The majority of German consumers buy cosmetics via pharmacies, which account for 52% of the market. Several key players like L’Oréal, Procter & Gamble (P&G), and Beiersdorf dominate the German cosmetic market. 

China: The cosmetic market in China is expected to develop at a compound annual growth rate (CAGR) of 3.71%. The shares of the local brand Mao Geping Cosmetics surged up to 87% on the first trading day following its initial public offering (IPO), reaching a market value of almost $3 billion. L’Oréal, Shiseido, Coty, and Estée Lauder are among the multinational cosmetic behemoths that still operate in China

Cosmetics Market Competitive Landscape

L’Oreal: In August 2024, A 10% share in Galderma Group AG was acquired by L’Oréal. In December 2024, by acquiring Gowoonsesang Cosmetics Co., Ltd., the parent business of Dr. G, L’Oréal increased its market share in the Korean skincare industry.

Estée Lauder Companies: In June 2024, Estée Lauder successfully acquired DECIEM, a multi-brand Canadian business with well-known brands like NIOD and The Ordinary, for $1.7 billion. Estée Lauder has acquired 15 companies, with an average acquisition of $883 million.

Shiseido: In December 2024, Shiseido acquired Dr. Dennis Gross Skincare, a high-end skincare line run by dermatologists. Shiseido acquired the well-known clean skincare company Drunk Elephant for approximately $845 million.

Recent Developments:

• Shiseido’s investment in biotech firm Jiangsu Trautec Medical exemplifies this trend. Biotech applications improve product efficacy and attractiveness by providing innovative materials and sustainable production techniques.
• Mikayla Nogueira, in partnership with Ani Hadjinian, a well-known beauty influencer, founded Point of View Beauty.

Conclusion

• Digitalization and e-commerce are crucial in expanding consumer reach and improving customer satisfaction with virtual try-ons and customized skincare products.
• The market environment is changing due to several important trends, including the emergence of customized beauty products, developments in ethical and clean beauty, and the impact of social media on consumer behavior.

Releted Reports:

Functional Cosmetics Market was worth US$ 3.36 Bn. in 2022 and total revenue is expected to grow at a rate of 5.1% CAGR from 2023 to 2029, reaching almost US$ 4.76 Bn. in 2029.

Europe Makeup Foundation Market size was valued at USD 2.56 Billion in 2023, and the total Europe Makeup Foundation Market revenue is expected to grow at a CAGR of 5.73% from 2024 to 2030, reaching nearly USD 3.78 Billion.

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