According to this report, the global makeup market size reached a value of USD 39.45 billion in 2023. Aided by the rising global demand for cosmetics and personal care products, the market is projected to further grow at a CAGR of 4.8% between 2024 and 2032 to reach a value of USD 60.34 billion by 2032.
Makeup products, which include items such as foundation, lipstick, mascara, and eyeshadow, play an essential role in enhancing and modifying an individual’s appearance. They are widely used across all demographics, making the global makeup market highly diverse and inclusive. With continuous innovation in product formulations, packaging, and marketing strategies, the makeup industry continues to expand its reach across regions and consumer groups.
The rising disposable income of consumers, particularly in emerging markets, is a significant driver of the makeup market globally. As more individuals gain financial independence, there is an increasing willingness to spend on premium beauty products, thereby leading to makeup market growth. Furthermore, the growing awareness of personal grooming, influenced by a mix of cultural and social factors, continues to push consumers toward regular use of makeup products, thereby driving market growth.
In recent years, the impact of social media, beauty influencers, and celebrity endorsements has been particularly influential in shaping makeup trends and consumer behaviour. Platforms such as Instagram, TikTok, and YouTube have become hubs for makeup tutorials, product reviews, and beauty hacks, contributing to the rise of new makeup brands and increased product visibility. This is one of the key makeup market trends.
While North America holds the largest market share, the growth of online distribution channels in the Asia-Pacific region is expected to make it one of the fastest-growing regions for makeup products. Based on industry analysis, facial makeup holds a significant portion of the makeup market share, driven by the increasing popularity of foundation and concealer products that cater to diverse skin tones and needs. Eye makeup, especially mascara and eyeliner, also accounts for a substantial portion of the market, with continuous innovations in long-wear and waterproof formulations.
The shift towards natural and organic makeup products is another key factor contributing to the makeup demand. With an increasing focus on health and sustainability, consumers are becoming more conscious of the ingredients used in cosmetics. This has led to a surge in demand for makeup products that are free from harmful chemicals, cruelty-free, and environmentally friendly. As a result, many brands are now reformulating their products to meet these preferences, thereby facilitating market development.
Based on makeup market analysis, increasing interest in skincare-makeup hybrids is transforming the market. Products that combine makeup with skincare benefits, such as hydrating foundations, SPF-infused lipsticks, and vitamin-enriched primers, are gaining traction. Consumers are looking for multifunctional products that not only enhance their appearance but also provide long-term skin health benefits.
Besides, several trends are currently shaping the makeup market outlook. One prominent trend is the increasing demand for inclusive beauty products. Consumers are no longer satisfied with a limited range of shades and are pushing for greater diversity in makeup, particularly in foundation, concealer, and powder products. This has led to the development of a wider range of products that cater to all skin tones and types, further boosting the growth of the makeup market.
Another notable trend is the rise of sustainable and eco-friendly packaging. With consumers becoming more environmentally conscious, brands are exploring biodegradable, recyclable, and reusable packaging solutions, which is increasing the makeup market revenue.
The global makeup industry is expected to grow steadily, fueled by rising consumer demand for innovative, inclusive, and sustainable products. The influence of social media, the shift toward natural ingredients, and the growing preference for eco-friendly packaging are expected to be key drivers of this growth. As consumer preferences continue to evolve, brands that prioritize innovation, inclusivity, and sustainability are likely to thrive in the competitive global makeup market.
Makeup products, which include items such as foundation, lipstick, mascara, and eyeshadow, play an essential role in enhancing and modifying an individual’s appearance. They are widely used across all demographics, making the global makeup market highly diverse and inclusive. With continuous innovation in product formulations, packaging, and marketing strategies, the makeup industry continues to expand its reach across regions and consumer groups.
The rising disposable income of consumers, particularly in emerging markets, is a significant driver of the makeup market globally. As more individuals gain financial independence, there is an increasing willingness to spend on premium beauty products, thereby leading to makeup market growth. Furthermore, the growing awareness of personal grooming, influenced by a mix of cultural and social factors, continues to push consumers toward regular use of makeup products, thereby driving market growth.
In recent years, the impact of social media, beauty influencers, and celebrity endorsements has been particularly influential in shaping makeup trends and consumer behaviour. Platforms such as Instagram, TikTok, and YouTube have become hubs for makeup tutorials, product reviews, and beauty hacks, contributing to the rise of new makeup brands and increased product visibility. This is one of the key makeup market trends.
While North America holds the largest market share, the growth of online distribution channels in the Asia-Pacific region is expected to make it one of the fastest-growing regions for makeup products. Based on industry analysis, facial makeup holds a significant portion of the makeup market share, driven by the increasing popularity of foundation and concealer products that cater to diverse skin tones and needs. Eye makeup, especially mascara and eyeliner, also accounts for a substantial portion of the market, with continuous innovations in long-wear and waterproof formulations.
The shift towards natural and organic makeup products is another key factor contributing to the makeup demand. With an increasing focus on health and sustainability, consumers are becoming more conscious of the ingredients used in cosmetics. This has led to a surge in demand for makeup products that are free from harmful chemicals, cruelty-free, and environmentally friendly. As a result, many brands are now reformulating their products to meet these preferences, thereby facilitating market development.
Based on makeup market analysis, increasing interest in skincare-makeup hybrids is transforming the market. Products that combine makeup with skincare benefits, such as hydrating foundations, SPF-infused lipsticks, and vitamin-enriched primers, are gaining traction. Consumers are looking for multifunctional products that not only enhance their appearance but also provide long-term skin health benefits.
Besides, several trends are currently shaping the makeup market outlook. One prominent trend is the increasing demand for inclusive beauty products. Consumers are no longer satisfied with a limited range of shades and are pushing for greater diversity in makeup, particularly in foundation, concealer, and powder products. This has led to the development of a wider range of products that cater to all skin tones and types, further boosting the growth of the makeup market.
Another notable trend is the rise of sustainable and eco-friendly packaging. With consumers becoming more environmentally conscious, brands are exploring biodegradable, recyclable, and reusable packaging solutions, which is increasing the makeup market revenue.
The global makeup industry is expected to grow steadily, fueled by rising consumer demand for innovative, inclusive, and sustainable products. The influence of social media, the shift toward natural ingredients, and the growing preference for eco-friendly packaging are expected to be key drivers of this growth. As consumer preferences continue to evolve, brands that prioritize innovation, inclusivity, and sustainability are likely to thrive in the competitive global makeup market.
Market Segmentation
The market can be divided based on product type, application area, distribution channel, and region.Market Breakup by Product Type
- Powders
- Gels
- Lotions
- Others
Market Breakup by Application Area
- Face
- Lips
- Eyes
- Nails
Market Breakup by Distribution Channel
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Online Retail Stores
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global makeup market. Some of the major players explored in the report are as follows:- L’Oréal S.A.
- Shiseido Co. Ltd.
- Estee Lauder Companies Inc.
- Avon Products, Inc.
- Oriflame Holding AG
- Revlon, Inc.
- Groupe Clarins
- Kao Corporation
- HB USA Holdings, Inc.
- KIKO S.p.A.
- Others
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Global Makeup Market Analysis
6 North America Makeup Market Analysis
7 Europe Makeup Market Analysis
8 Asia Pacific Makeup Market Analysis
9 Latin America Makeup Market Analysis
10 Middle East and Africa Makeup Market Analysis
11 Market Dynamics
13 Trade Data Analysis (HS Code - 334)
14 Competitive Landscape
Companies Mentioned
- Shiseido Co. Ltd.
- Estee Lauder Companies Inc.
- Avon Products, Inc.
- Oriflame Holding AG
- Revlon, Inc.
- Groupe Clarins
- Kao Corporation
- HB USA Holdings, Inc.
- KIKO S.p.A.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 205 |
| Published | December 2024 |
| Forecast Period | 2024 - 2032 |
| Estimated Market Value ( USD | $ 41.47 Billion |
| Forecasted Market Value ( USD | $ 60.34 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
