Beauty And Personal Care Products Market Size, Share & Trends Analysis Report By Type (Conventional, Organic), By Product (Skin Care, Hair Care), By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global beauty and personal care products market size was valued at USD 482.8 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.7% from 2022 to 2030. One of the primary factors driving market expansion is the rising consciousness of consumers about their appearance. Beauty and personal care products such as skin care, color cosmetics, and hair care are becoming an integral part of daily grooming among millennials. The introduction of cosmetics with natural, non-toxic, and organic ingredients has also been boosting the market growth.

The easy availability of these cosmetic items through various sales channels such as specialty stores, pharmacies, and beauty salons has contributed to the growth of the market in terms of value sales. In addition, the increasing focus of male consumers on skin care and grooming to enhance their physical appearance and take better care of their skin is anticipated to offer strong opportunities for growth. Increasing investments in the research & development of new and effective offerings also bode well for market growth.

Rising consumer awareness about using cosmetics that are vegan, organic, natural, and, at the same time, good for the planet has encouraged manufacturers to launch new offerings and expand their footprint. For instance, in June 2021, SO'BiO étic, a socially responsible French beauty company, launched its organic beauty line in the U.S., to supply eco-friendly and healthy beauty items. The company’s products do not contain glycol, parabens, silicones, nanoparticles, PEG, or chemical filters.

Various chemicals used as ingredients in beauty and personal care products can have adverse side effects on the skin. Similarly, long-term and extensive use of haircare commodities containing harsh chemicals can lead to numerous hair problems such as hair fall, premature greying, and dry and lackluster hair. Growing consumer awareness regarding the probable side effects of using such products is one of the major factors limiting the growth of conventional beauty and personal care products.

The COVID-19 pandemic has also had a significant impact on the growth of the market. The pandemic disrupted the production as well as supply of beauty and personal care items. The situation was exacerbated by strict restrictions on movement, as well as social distancing and stay-home policies. Demand for new orders from retailers came to a standstill as major markets were under lockdown and commodity sales took a major hit, both through online and offline channels.

Type Insights

The conventional beauty and personal care segment accounted for the largest market share of 84.9% in 2021. Their low price compared to organic variants and their easy availability through various distribution channels across the globe have driven segment growth so far. However, conventional cosmetics frequently contain a high percentage of petroleum-based ingredients, which is not only harmful to the skin when not properly refined but also required extensive mining, which can endanger wildlife and soils. This could hamper segment growth.

The organic segment, on the other hand, is anticipated to witness strong growth in the market. These cosmetics are formulated by using organically sourced ingredients and are safe for the skin, cruelty-free, and aid in the protection of the environment and biodiversity. Rising consumer awareness regarding the benefits associated with the use of organic cosmetics is expected to drive its adoption among consumers globally. This, in addition to a rising number of players offering clean and organic beauty and personal care products, is likely to boost the segment over the forecast period.

Product Insights

The skincare segment accounted for 33.8% of the beauty and personal care products market in 2021. This is attributable to the rising popularity of cosmetics containing natural and organic ingredients such as herbs, plant extracts, and fruit extracts. Skincare products can have numerous benefits and functions, such as rejuvenating and protecting the skin, treating wrinkles and signs of aging, reducing the occurrence of acne and lightening spots, and keeping the skin healthy and young. These benefits continue to propel the skincare segment.

The haircare segment is expected to register a CAGR of over 7.0% over the forecast period. Haircare products are used to solve various hair problems like frizzy hair, split ends, hair fall, dandruff, and dry or itchy scalp. The availability of a wide range of haircare products, such as shampoo, conditioner, hair gel, hair wax, hair serum, hair oil, and hair colorants,  in different formats and for various customer requirements will drive segment growth over the forecast period.

Distribution Channel Insights

Specialty stores held the largest market share of 35.7% in 2021, driven by the growing presence of such stores around the globe. These stores have been focusing on offering natural and chemical-free beauty and personal care products to pique customer interest and allow them to choose from numerous brands and variants before making a purchase. Additionally, the presence of store associates that help customers select the right cosmetics for their needs and provide adequate knowledge about the ingredients has been boosting the growth of this segment.

Supermarkets & hypermarkets have become popular for the purchase of beauty and personal care products as they offer a wide range of items under a single roof and are located near residential areas for convenient and easy accessibility. The e-commerce channel, on the other hand, is projected to register the fastest CAGR from 2022 to 2030. Rising internet penetration and target marketing by companies to reach a wider audience has fueled segment growth. In addition, heavy discounts & offers provided by online platforms will boost the sale of beauty and personal care items through this segment.

Regional Insights

Asia Pacific held the dominant share of 38.9% in the global market in 2021 and is also expected to exhibit the fastest growth over the forecast period. This is attributable to the rising number of working women in countries such as China and India and their growing interest and spending capacity for beauty and personal care products. Moreover, the rising young population in these countries with access to the internet is expected to offer immense opportunities for the growth of the regional market over the forecast years.

The Europe market for beauty and personal care products is fueled by the growing inclination of consumers toward natural and vegan cosmetics, especially in the U.K., France, and Germany. In North America, consumers are willing to pay a high price for cosmetics that enhance their physical appearance, and this is especially true for consumers in the U.S. and Canada. The higher spending power of consumers in these regions and the presence of leading players will drive the regional markets.

Key Companies & Market Share Insights

There are a host of international and domestic players in this market and they have been focusing on strategies such as innovation and the launch of natural, organic, and vegan beauty and personal care products in the retail space.

• In November 2021, Shiseido, one of the leading cosmetics manufacturers in the market, unveiled Inryu, an ingestible beauty brand that aims to enhance skin healthy from the inside

• In September 2021, Coty Inc., a prominent beauty and body care company, announced the launch of Kylie Baby, a gentle, safe, and conscious baby care range by Kylie Jenner. The products were available exclusively on the brand’s direct-to-consumer website

• In January 2020, iconic beauty brand Revlon launched its PhotoReady Prime Plus Perfecting + Smoothing Primer, the first mass cosmetic product that meets the clean beauty standards of the Environmental Working Group (EWG)

Some prominent players in the global beauty and personal care products market include:

• Unilever

• The Estée Lauder Companies Inc.

• Shiseido Co., Ltd.

• Revlon

• Procter & Gamble

• L'Oréal S.A.

• Coty Inc.

• Kao Corporation

• Avon Products, Inc.

• Oriflame Cosmetics S.A.

Beauty And Personal Care Products Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global beauty and personal care products market report based on type, product, distribution channel, and region:

• Type Outlook (Revenue, USD Billion, 2017 - 2030)

  • Conventional

  • Organic

• Product Outlook (Revenue, USD Billion, 2017 - 2030)

  • Skin Care

  • Hair Care

  • Color Cosmetics

  • Fragrances

  • Others

• Distribution Channel Outlook (Revenue, USD Billion, 2017 - 2030)

  • Hypermarkets & Supermarkets

  • Specialty Stores

  • E-commerce

  • Others

• Regional Outlook (Revenue, USD Billion, 2017 - 2030)

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa