Beauty and Personal Care Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The beauty and personal care products market was valued at USD 434.85 billion in 2020, and it is projected to register a CAGR of 4.35% during the forecast period, 2021-2026.​

A major issue faced by the manufacturers during the COVID-19 situation was the disrupted supply chains, especially for cosmetics, for during the lockdown, countries closed their borders or raised trade barriers. As a result, manufacturers and exporters were facing high competition to export their goods. Furthermore, the on-premise sales through supermarkets and convenience stores witnessed a decline due to the subsequent lockdowns and the closure of retail stores, as individuals have been practicing social distancing measures and avoiding gatherings and outings. However, the sales through online retail channels majorly supported the market penetration.

The improving quality of life, the positive effects of beauty and personal care on self-esteem and social interaction, and the gradual consumer shift toward premium and luxury cosmetic brands are a few factors that are likely to propel the market growth during the forecast period.

The increasing dental problems among children and adults due to poor eating habits and the rise in the popularity of herbal oral care products drive the oral care products market globally. Moreover, the rising premiumization and the consumers’ need for more targeted solutions are accelerating the market's growth. The rise in oral health-consciousness helped vendors introduce oral hygiene product categories, such as teeth-whitening products.

With the growing demand for organic ingredients, consumers across the world are inclined toward organic personal care products, which is expected to drive market growth during the study period. Furthermore, the rising awareness about the harmful effects of chemicals and synthetic products is another factor augmenting the growth of the market. Most of the consumers tend to buy products with natural or organic labeling, which is driving the market growth.

Scope of the Report

Beauty and personal care is an art field that addresses the looks and health of someone's hair, nails, and skin. The market studied is segmented by type, category, and distribution channel. By type, the market studied is segmented into personal care products and cosmetic and make-up products. The personal care products segment is further segmented into hair care products, skincare products, bath and shower products, oral care products, men's grooming products, and deodorants and antiperspirants. The cosmetics/make-up products​ segment is further segmented into facial cosmetic, eye cosmetic products, and lip and nail make-up products​. By category, the market studied is segmented into premium and mass products. By distribution channel, the market studied is segmented into specialist retailers, hypermarkets/supermarkets, online retail channels, convenience stores, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle-East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD billion).

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Key Market Trends

Deterring Oral Health Among the Population Globally

The rapidly changing lifestyles and improper diets, including sugar-rich diets and the increased consumption of alcohol and tobacco, have made oral health one of the major public health problems in almost every part of the world. According to the World Health Organization, oral diseases pose a major issue for many countries and affect people throughout their lifetime, causing pain, discomfort, disfigurement, and even death. The Global Burden of Disease Study 2017 estimated that oral diseases affect close to 3.5 billion people worldwide, with caries of permanent teeth being the most common condition. Moreover, with the increased expenditure on oral healthcare, consumers across the world started taking preventive measures, which increased the demand for effective oral care products. For instance, according to the US National Library of Medicine’s National Institutes of Health, the spending for dental care increased from approximately USD 2 billion in 1960 to USD 117.5 billion in 2015. Thus, consumers across the world pay immense attention to maintaining their oral health, which led to an increase in the demand for oral care products worldwide. Some of the factors that influence the choice from the customers’ point of view are the perceived performance, brand awareness, product attributes, the credibility of the company, and availability of product information.

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