Beauty and Personal Care Market to Grow with a CAGR of 4.8% through 2030
The
beauty and personal care market thrives on digital innovation, indie brand
emergence, and health-focused products, yet faces challenges like market
saturation, regulatory complexities, and supply chain vulnerabilities.
According to
TechSci Research report, “Beauty and Personal Care Market - Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2030F”,
the global beauty and
personal care market was valued at USD 526.36 Billion in 2024 and is expected
to reach USD 697.35 Billion by 2030 with a CAGR of 4.8% during the forecast period.
The global beauty and personal care
industry is undergoing significant transformations, influenced by various
drivers and challenges. Beyond previously discussed factors, several additional
elements are shaping the market landscape. The proliferation of digital
platforms has revolutionized how consumers discover and purchase beauty
products. E-commerce channels, bolstered by user-friendly interfaces and
personalized recommendations, have made beauty products more accessible. Brands
are leveraging social media influencers and virtual try-on technologies to
enhance the online shopping experience, leading to increased consumer
engagement and sales.
Consumers
are increasingly seeking unique, personalized beauty solutions, leading to the
rise of indie and niche brands. These brands often focus on specific consumer
needs, such as vegan formulations or products catering to diverse skin tones,
filling gaps left by mainstream companies. Their authenticity and targeted
offerings resonate with consumers seeking individuality in their beauty
choices. A growing emphasis on holistic well-being has led consumers to seek
beauty products that align with their health goals. Products infused with
natural ingredients, free from harmful chemicals, and those promoting overall
skin health are in demand. This trend has given rise to categories like
nutricosmetics, which blend nutrition and cosmetics to enhance beauty from
within. The beauty industry is highly competitive, with numerous brands vying
for consumer attention. This saturation makes it challenging for new entrants
to establish a foothold and for existing brands to maintain market share.
Differentiation through innovation and unique value propositions is crucial to
stand out in this crowded market. Navigating the complex web of global
regulations poses a significant challenge for beauty brands. Compliance with
varying standards for ingredients, labeling, and safety across different
regions requires substantial resources and expertise. Failure to adhere to
these regulations can result in product recalls, legal issues, and damage to
brand reputation. Global events, such as pandemics or geopolitical tensions,
can disrupt supply chains, affecting the availability of raw materials and
distribution channels. These disruptions can lead to increased costs and
delays, challenging brands to maintain consistent product availability and
pricing.
Browse over xx
market data Figures spread through xx Pages and an in-depth TOC on
"Global Beauty and Personal Care Market.”
The Beauty and
Personal Care Market is segmented into product type, distribution channel and
region.
Based on distribution channel, Online
retail is now the largest and most preferred distribution channel for beauty
and personal care products. The convenience, personalized recommendations, and
accessibility of niche brands have made e-commerce the dominant segment. The
rise of direct-to-consumer (DTC) models, subscription beauty boxes, and
AI-powered customization tools has further strengthened its market position.
Retail giants like Amazon, Sephora, Nykaa, and Ulta Beauty continue to lead
online beauty sales, offering extensive product selections, virtual try-ons,
and AI-driven skin analysis tools.
Based
on region, MEA is one of
the fastest-growing beauty markets, fuelled by rising disposable incomes,
growing awareness of personal grooming, and the demand for halal beauty
products. Countries like UAE and Saudi Arabia are witnessing an influx of
luxury beauty brands, while Nigeria and South Africa are driving demand for affordable,
locally inspired cosmetics. The demand for organic, wudhu-friendly (permissible
under Islamic law), and halal-certified products is propelling the rapid growth
of brands like Hindash Cosmetics and Huda Beauty in the region.
Major companies
operating in the global beauty and personal care market are:
- L'Oréal S.A.
- Unilever PLC
- The Estée Lauder Companies Inc.
- The Procter & Gamble Company
- Shiseido Company, Limited
- Kao Corporation
- Beiersdorf AG
- Coty Inc.
- Avon Products, Inc.
- L'Occitane International S.A.
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“A key trend in
the beauty and personal care market is AI-powered
customization and virtual try-on technology are transforming the beauty
shopping experience by providing personalized recommendations and interactive
product testing. As e-commerce continues to grow, consumers seek digital tools
that allow them to try makeup shades, foundations, and skincare products
virtually. AI-powered skincare diagnostics analyze skin conditions, hydration
levels, and fine lines, offering tailored product suggestions based on
individual needs. Brands are also leveraging chatbots and virtual beauty
assistants to provide real-time beauty advice and customer support, enhancing
the digital shopping journey. Companies like L’Oréal’s Modiface, Proven
Skincare, and Sephora’s Virtual Artist are integrating machine learning,
augmented reality, and big data to deliver hyper-personalized solutions,
redefining how consumers discover and purchase beauty products. “Said Mr. Karan Chechi, Research Director of TechSci Research, a
research-based management consulting firm.
"Beauty and Personal Care
Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product Type (Personal
Care (Skin Care, Hair Care), Beauty Care (Makeup and Color Cosmetics, Beauty
Tools and Accessories, Nail Care & Others)), By Distribution Channel
(Departmental Stores/Grocery Retails, Specialty Store, E-Commerce, Pharmacies
& Others (Institutional Stores, Expert Store, Salon)), By Region & Competition, 2020-2030F”,
has evaluated the future growth potential of global beauty and personal care market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the global beauty and personal care market.
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