Cosmetic Industry Statistics Worldwide 2022: Market Trends, Data, and Analysis

Despite experiencing a decrease in demand in 2022, the global cosmetic industry that was valued at $380.2 billion in 2019, is projected to reach $463.5 billion by 2027, registering a Compound Annual Growth Rate (CAGR) of 5.3% from 2021 to 2027. Cosmetic industry statistics worldwide reveal that these products have become an indispensable part of the modern lifestyle of people of all genders. This is mainly due to the consciousness and the underlying importance of external appearances that complement’s a person’s intellect.

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Table of Content

  1. A brief overview
  2. The global market of eye makeup products
  3. The global market of eyeliner
  4. The global market of lipsticks
  5. Wrapping Up

A brief overview

A significant factor that has contributed to the rise of global cosmetic trends is the use of such products by men as part of their daily routine.

Keeping up with the strong emerging trend of higher sales of products made of natural ingredients, manufacturers are fast making changes in their product branding and advertising strategies. Highlighting the use of ingredients that do not affect the skin in any adverse way is companies are also making changes in their sizes, and packaging to make them easily portable. Brands are making an impact across media channels with innovative product launches underlying such key features. These are directly impacting revenue results of companies that are projecting steady growth in the post-pandemic era.

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The global beauty industry trends show that the cosmetic market continues to grow on the social media boom especially channels such as Instagram and YouTube. These platforms are not only highly influential among segmented demographic groups, but also help create demand for beauty products, filling in the gap between brands and consumers. Fashion and beauty related content such as makeup and skincare tutorials, cosmetics hauls, and product recommendations are among the most popular content on these channels.

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The global market of eye makeup products

The global eye makeup market reached a value of US$ 15.6 billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 21.4 billion by 2027, exhibiting at a CAGR of 5.3% during 2022-2027. Yet another statistics reveals that the eye makeup market size was valued at USD 15.34 Billion in 2020 and is projected to reach USD 23.49 Billion by 2028 growing at a CAGR of 5.47 % from 2021 to 2028.

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Eye makeup products are used to accentuate the appearance of eyes; products in this category include eyeliner, eyeshadow, and mascara. These products are available in a wide range of colors from subtle and nude shades to bold hues that are made for long wear. Beauty industry statistics worldwide reveal that there is a specific demand for waterproof and mineral-based products that have led manufacturers to make a significant shift in product formulation strategies. Look up our Top Beauty Inspiration and Makeup Trends of 2022 and see the difference your looks can make!

Over the past few years, the significant rise in per capita income has led to a big rise in demand for eye makeup products. Higher incomes have also led to higher interests in augmenting facial appearances, especially highlighting the eyes. This has assumed significant proportions due to the pandemic situation that has forced the world to keep all features below the eyes covered.

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The pandemic has also induced the demand for all types of eye makeup products online and the sales projector predicts an improved and brighter future. This has led almost all retail brands to focus on their online presence strengthening it with a diversity of products and competitive pricing. There is also a significant rise in the demand for halal-certified eye makeup products among different demographic segments.

Some of the key players of the global eye makeup product market include:

  • The Estée Lauder Companies Inc.
  • Shiseido Company Limited
  • Revlon, Inc.
  • Colorbar Cosmetics Pvt Ltd., Amway
  • Chanel S.A.
  • Unilever
  • Avon Products, Inc.
  • The Procter & Gamble Company, and
  • L’Oréal S.A.

The global market of eyeliner

In 2020, the global Eyeliner market size was USD 3770.9 million and is forecast to 4296.9 million US in 2027, growing at a CAGR of 2.2% during the 2021-2027. After carefully analyzing the current trends, top global market research company Market Research Future (MRFR) states that the global eyeliner market is on its way to become a highly profitable venture in the coming years owing to the growing use of eyeliners.

Continual advancement in technologies, and the coming of innovative products launch by manufacturing companies have contributed to the strong growth of the eyeliner market. Growing number of people across the globe are embracing products that are vegan, cruelty-free, and of course, safe to the skin. This has led to a significant rise in the demand for organic and professional eyeliners that is a trend here to stay for some time.

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We have already stated that eye makeup products have gained immense popularity in recent times due to increase in per capita income, and the pandemic situation. There is a noticeable impact made by premium and high-end brands that have been able to capture the attention of large global audience.

The Asian Pacific, and Latin American countries are most developing eyeliner markets and are open to exponential growth due to its surging middle-class population. The burgeoning eyeliner market is supported and strengthened by the continuous introduction of newer eyeliner products to cater to modern customer lifestyle. To illustrate, in June 2018, Fenty Beauty had launched a liquid eyeliner named Flyliner whereas, in July 2015, Eyeko US had introduced a sports waterproof eyeliner in the United States (US).

Some of the key market players are:

  • L'Oreal Paris
  • EsteeLauder
  • P&G
  • LVMH
  • Dior
  • Amore
  • Chanel
  • Sisley
  • Jordana Cosmetics
  • L'Oreal Paris
  • Jane Iredale
  • Kate
  • Almay
  • Physicians Formula
  • VOV
  • Marykay
  • Marie Dalgar
  • Carslan
  • Flamingo
  • Bleunuit

The global market of lipsticks

The lipstick market size was valued at $8.2 billion in 2018, and is expected to reach $12.5 billion by 2026, registering a CAGR of 5.5% from 2019 to 2026.

Lipsticks are meant to give protection, texture, and color lips and its main ingredients are oils, waxes, pigments, and emollients. These products come in an assortment of forms such as powder,, sheer, satin stain, matte lipstick. They also come in all possible shades and colors ranging from the soft nudes for natural finish to startling attention grabbing hues.

A popular trend of the global lipstick market is the coming of organic and herbal lipsticks that are fast picking up popularity among customers. The preference is clear from the benefits they offer in terms of moisturizing, and healing lips over and above traditional products. This is in fact a strong trigger for the growth of the lipstick market.

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There is a significant expansion of distribution channels online apart from supermarkets, specialty stores, and hypermarkets that have made the lipstick market more accessible. This has definitely contributed towards the growth of the global lipstick market. Products are classified into categories according to their types such as matte, gloss, and lip powder. Their forms include stick, liquids, and palettes. The distribution channels are online stores, physical retail stores, and specialty stores.

Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Australia, New Zealand, and rest of Asia-pacific), and LAMEA (Latin America, Middle East, and Africa).

Lipsticks have accounted for the highest beauty industry market size share among cosmetics in 2018. The pandemic had seen a fall in demand for this cosmetic product but is fast growing again. This is attributed to the good coverage and smooth gliding features that lets consumers enhance their appearances effortlessly. Moreover, there is a distinct demand for long lasting, non-transferable lipsticks that save consumers from having to reapply during the busy day.

Easy application forms as liquids and sticks in wide varieties such as vegan matte, herbal matte, and moisturizing matte in all possible shades have up the market. These products have thus been able to meet the requirements of different consumers led by the matte lipsticks, leading to significant growth of the market. Cosmetic industry statistics worldwide reveal that matte lip color is expected to expand at the fastest CAGR of 7.9% from 2019 to 2025.

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Key Market Players of the global lipstick market include:

  • L'Oréal S.A
  • Shiseido company limited
  • Revlon Inc.
  • Coty
  • Estée lauder companies Inc
  • Christian Dior SE
  • Unilever
  • Guerlain
  • Inglot sp. Z. O. O
  • Relouis

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Lip powder is gaining steady popularity across the globe due to its matte finish and lightweight features, driving its market share. Presence of vitamin E, coconut oil, and glycerine, all of which help hydrate the skin are key factors behind its rising demands. Also, it has longer staying power compared to conventional lipsticks. 

Asia Pacific is expected to register the fastest CAGR of 11.0% from 2019 to 2025. The fastest growth rate in terms of revenue, in this region is due to the increasing disposable income of consumers. Added to it are changing consumer preferences for lipsticks, and availability of lipstick as an affordable luxury to female population in countries in the region.

The North America market is expected to account for highest revenue share in the global lipstick market, owing to ever-increasing demand for cosmetics in countries in the region. The markets in Latin America and Middle East & Africa are expected to register moderate growth rate in the global lipstick market over the forecast period.

Wrapping it up

In spite of the unprecedented crisis triggered by the pandemic in 2020, cosmetic industry statistics worldwide prove that the global cosmetics market has bounced back to be a dynamic market. It has posted significant recovery since the second half of the year driven by strong consumer demand. With the rise of social media and advanced data analysis, brands are able to deliver increasingly relevant and targeted messages to consumers. The long-term potential is driven by the rise of the middle and upper-income classes. This is coupled with the growing number of urban population on the lookout for products that meet their diverse aspirations.

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