According to Fortune Business Insights, the global cosmetics market is poised for significant growth, driven by the rising awareness of physical appearance among consumers worldwide. These beauty and personal care products including skincare, haircare, and lip care items not only enhance overall appearance but also cater to the growing demand for anti-aging solutions, especially among the elderly population. In 2024, the global cosmetics market size was valued at USD 335.95 billion and is projected to reach USD 556.21 billion by 2032, growing at a CAGR of 6.64% during the forecast period. Asia Pacific led the cosmetics market share in 2024, accounting for a dominant 39.57%.
Growing Awareness about Skincare Routines will Improve Sales of Skincare Products
Based on category, the market is divided into skincare, hair care, makeup, and others. The skincare segment is predicted to hold a sizable share of the market during the forecast period as a growing percentage of people across the world use skincare products on a daily basis as compared to hair care products.
Working Women to Increase Usage of Cosmetics to Improve Appearance
Based on gender, the market is divided into men and women. The women segment is anticipated to hold the larger market share as the percentage of working women is growing across the world and they need these products to help them look presentable at their workplace.
Buyers to Increase Preference for Hypermarkets/Supermarkets to Gain Access to Different Brands