In 2018, the global cosmetic market grew estimated of 5.5 % in comparison to the previous year. Skincare, hair care, make-up, perfumes, toiletries and deodorants, and oral cosmetics are the main product categories of the cosmetic market. Skincare was the leading category, accounting for about 39 % of the global market. Hair care products made up a further 21 %, while make-up accounted for 19 % in 2018. Skincare has been forecast to remain the most profitable product category, as its market value is projected to grow by 20.1 billion U.S. dollars between 2014 and 2019. As of 2018, Asia Pacific was the industry leader, accounting for approximately 40 % of the global market.
The global cosmetics market is expected to garner $429.8 billion by 2022, registering a CAGR (Compound annual growth rate) of 4.3% during the forecast period 2016-2022. Cosmetics Market (makeup or beauty products) are a mixture of chemicals generally used to enhance the appearance or odor of the human body. Sun care, skin care, hair care, deodorants, makeup and color cosmetics, and fragrances are some of the cosmetics products that are predominantly available and used by individuals.
• Revenue in the Cosmetics segment amounts to US$16,681.6m in 2020. The market is expected to grow annually by 5.4% (CAGR 2020-2023).
• In global comparison, most revenue is generated in the United States (US$16,682m in 2020).
• Regarding total population figures, per-person revenues of US$50.40 are generated in 2020.
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Sources:
– https://www.statista.com/topics/3137/cosmetics-industry/, M. Shahbandeh, Jan 22, 2020
– https://www.alliedmarketresearch.com/cosmetics-market, Author: Nilesh Rajput, July 2016
– https://www.statista.com/outlook/70010000/109/cosmetics/united-states