Market Size of Cosmetic Products Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 4.94 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cosmetic Products Market Analysis
The Cosmetic Products Market is expected to register a CAGR of 4.94% during the forecast period.
- The increasing number of working women and rising consciousness regarding physical appearance among millennial women are the key factors driving the market growth. In addition, the rising awareness about the harmful effect of chemical compounds such as paraben and aluminium in the products is stimulating the growth of natural and organic facial cosmetic products in the market.
- Thereby, the manufacturers were focused on innovating facial cosmetics with natural ingredients. Additionally, Heritage brands are losing their popularity. They need to be updated as new storytelling brands emphasizing vegan, cruelty-free, organic, and natural concepts are trying to capture the market by offering a product that matches evolving consumer preferences.
- There is an increasing demand for long-lasting and waterproof makeup, sun protection makeup with SPF, and vitamin enhancement makeup. This, in turn, offers a lucrative opportunity to the key players in the category to innovate in the facial make-up market. For instance, in 2021, Coty Inc. expanded the Gucci beauty product line by launching Gucci Poudre De Beauté Mat Naturel face powder in Asia-Pacific and European markets.
