Makeup & Cosmetics Market Trends

Makeup & Cosmetics Market Overview

The Makeup & Cosmetics Market size was valued at USD 197254.86 million in 2024 and is expected to reach USD 241505.76 million by 2033, growing at a CAGR of 2.3% from 2025 to 2033.

In 2024, the global makeup and cosmetics market recorded approximately 22.4 billion units sold across makeup, skincare, haircare, deodorant, and fragrance categories. Makeup and color cosmetics held approximately 30% of unit volume—around 6.7 billion units—led by lipstick, mascara, and foundations. Skin and sun care products were the largest share at 35%, equating to 7.8 billion units, followed by hair care at 15% (3.4 billion units), deodorants at 10% (2.2 billion units), and fragrances at 10% (2.3 billion units). Online and offline distribution channels were evenly split, with each accounting for approximately 11.2 billion units sold.

Annual usage per consumer averaged 15 units of makeup products, 12 units of skincare, and 5 units of fragrance. Skin and sun care saw fastest product reformulation: 62% of launches featured SPF or natural ingredients. Hair care’s unit volume was boosted by 18% premium product launches, resulting in 612 million high-value products. Deodorant roll-ons represent 1.1 billion of total units, while fragrance miniatures accounted for 415 million units in 2024. Packaging formats include tubes (42%), pumps (28%), sprays (18%), and sticks (12%). Average makeup product weight stood at 28g, skincare at 45mL, and fragrance at 30mL.

Key Findings

Driver: Increasing consumer demand for clean-label, multifunctional makeup and skincare products.

Country/Region: Asia‑Pacific leads in volume, with over 7.2 billion units consumed in 2024.

Segment: Skin and sun care products dominate, accounting for 35% of total unit volume.

Makeup & Cosmetics Market Trends

In 2024, the makeup and cosmetics market displayed dynamic movements, shaped by shifting consumer behaviors, sustainability emphasis, and digital innovation—translated into unit volumes and market trends. More than 68% of new skincare launches in 2024 incorporated natural ingredients, doubling from 34% in 2022. Demand for vegan- and organic-certified makeup led to 310 million unit sales increases in foundations, blushes, and lip tints. Worldwide, 2.1 billion units of natural makeup were sold, making up 31% of total makeup volume. SPF inclusion became standard in moisturizers, with 62% of new launches offering SPF 30+—equivalent to 4.8 billion units sold globally. Asia‑Pacific drove the trend, representing 41% of SPF skincare unit volume (~2 billion units). Anti-pollution and blue-light protection products rose by 17%. Makeup tools online grew significantly. Over 370 million virtual makeup try-ons occurred during 2024, leading to 18% higher conversion rates. Online makeup unit sales increased by 24%, totaling 1.4 billion units via digital channels. Refillable makeup launched across 1.6 billion units in 2024, representing 24% of makeup packaging. Most popular refillable items included lipstick and powder compact. In skincare, 340 million refillable bottles were sold globally, reducing single-use container waste by 120 million units. Makeup formulated for sensitive skin rose by 22%, totaling 1.1 billion units in 2024. In parallel, fragrance-free deodorants reached 840 million units, and dermatologist-tested skincare accounted for 55% of launches, equating to 4.3 billion products. Hair care innovations focused on scalp health. Units of scalp serum and exfoliating scalp masks exceeded 180 million, up from 130 million in 2023. Products with non-silicone or sulfate-free formulas achieved 780 million unit sales—a 13% increase. Male-focused cosmetic products grew by 19% in volume, with 560 million units sold in 2024. This includes tinted moisturizers, concealers, and deodorants specifically branded toward men, representing 5% of total makeup and deodorant volumes. Miniature and travel-size fragrances grew 12%, selling 465 million units in 2024. Personalized scent kits, sold in sets of three 5mL samples, reached 700,000 kits sold in North America and Asia combined. Natural deodorants without aluminum salts accounted for 410 million units, a 35% share in the 2.2 billion deodorant unit volume. Shower-resistant spritz formulas made up 230 million units, up by 16%. These trends highlight the market’s pivot toward sustainable formats, multifunctionality, digital engagement, and consumer-centric innovations, reshaping makeup and cosmetics consumption in unit volume and product diversity.

Makeup & Cosmetics Market Dynamics

DRIVER

Rising demand for multifunctional and clean-label beauty products.

In 2024, over 62% of skincare and makeup launches featured clean-label claims, while 51% incorporated multifunctional benefits such as SPF, hydration, and anti-aging in one product. Among these, 3.8 billion units were sold that included at least two skincare benefits, reflecting consumer preference for simplicity and convenience. Lipsticks with integrated SPF sold 790 million units, while setting sprays that also functioned as moisturizers reached 250 million units. In India and Southeast Asia, the demand for sweat-proof, sun-protective foundations grew by 14%, exceeding 420 million units.

RESTRAINT

Regulatory complexity and safety scrutiny of ingredients.

Product recalls due to banned or restricted substances affected over 135 million units globally in 2023–2024. Europe’s cosmetic compliance protocols led to the withdrawal of 39 million formulations containing controversial UV filters or preservatives. In the U.S., 14% of product reviews mentioned concerns about allergens or synthetic fragrances. Increasing scrutiny led 27% of global manufacturers to reformulate product lines, impacting production timelines. Shelf-ready delays rose by 3 weeks on average, affecting 260 million units of cosmetics globally.

OPPORTUNITY

Expansion in male grooming and gender-neutral cosmetics.

Men’s makeup, once a niche, reached 560 million units sold in 2024, reflecting a 19% increase from 2023. Foundations, BB creams, and brow gels tailored for male consumers were responsible for 61% of this volume. Gender-neutral skincare lines expanded by 38%, with 2.6 billion units sold across moisturizers, cleansers, and serums. The U.K., South Korea, and Brazil led in this segment, with over 220 million units of new launches promoting unisex appeal. In-store displays for gender-neutral beauty increased by 46%, driving foot traffic and new customer acquisition.

CHALLENGE

Raw material price inflation and packaging shortages.

In 2024, cost volatility in mica, palm derivatives, and natural pigments led to a 9–14% increase in production costs. These impacted over 4.1 billion units, particularly in color cosmetics. Aluminum cap shortages delayed delivery of 270 million units of lipsticks and deodorants in Q1 and Q2. Brands that relied on glass packaging experienced a 13% slower turnaround, especially in fragrance manufacturing. Mid-size companies were disproportionately affected, with 1 in 5 reporting shipment delays longer than 30 days. To mitigate risks, 42% of companies moved to regional sourcing for key ingredients.

Makeup & Cosmetics Market Segmentation

In 2024, the makeup and cosmetics market sold approximately 22.4 billion units, segmented by distribution type and application area. The segmentation reveals demand variations between online and offline channels, and among major cosmetic product categories.

By Type

Online: Online sales reached 11.2 billion units, supported by digital marketing, AR try-on apps, and influencer-driven promotions. Color cosmetics led the category with 4.1 billion units sold through online platforms. Skin and sun care reached 3.6 billion units via e-commerce. Subscription boxes contributed to 420 million units, with top-selling categories being lip tints, moisturizers, and miniatures. Average basket size online included 5.3 units, and 73% of buyers made repeat purchases within six months.
Offline: Offline channels accounted for the other 11.2 billion units sold globally. Department stores, pharmacies, and branded outlets played key roles. Fragrance unit sales dominated offline with 1.9 billion units, followed by deodorants at 1.7 billion units. Emerging markets like Egypt and Indonesia reported 26% growth in offline hair care product sales. Offline sales in South America exceeded 920 million units, emphasizing the continued relevance of brick-and-mortar retail.

By Application

Skin and Sun Care Products: Representing 7.8 billion units, these products remain the largest application category. Moisturizers with added SPF accounted for 2.4 billion units, while brightening and anti-aging products made up 3.1 billion units. K-beauty trends helped drive 320 million units of skin-essence sales.
Hair Care Products: This segment reached 3.4 billion units, driven by shampoo, conditioners, and scalp serums. Silicone-free shampoos alone sold 1.2 billion units, while overnight hair masks rose by 23%, reaching 250 million units.
Deodorants: Deodorants totaled 2.2 billion units, with natural roll-ons capturing 410 million units and aerosol sprays at 880 million units. Asia-Pacific contributed 37% of total deodorant volume.
Makeup and Color Cosmetics: Makeup volume hit 6.7 billion units. Foundations and BB creams sold 2.1 billion units, followed by lipsticks (1.7 billion units), and mascaras (950 million units). Brow pencils gained 18% in 2024, selling 610 million units.
Fragrances: Fragrances reached 2.3 billion units, with miniature bottles at 415 million units and full-size bottles at 1.7 billion units. Personalization kits sold 700,000 sets, while niche artisan brands sold 52 million units.

Makeup & Cosmetics Market Regional Outlook

In 2024, regional performance in the makeup and cosmetics market varied significantly based on consumer preferences, distribution strength, and innovation adoption rates. Total unit sales across the four major regions—Asia-Pacific, North America, Europe, and Middle East & Africa—surpassed 22.4 billion units, with Asia-Pacific leading the market.

North America

North America recorded total sales of approximately 5.4 billion units in 2024. The United States accounted for nearly 4.1 billion units, followed by Canada with 920 million units, and Mexico contributing 380 million units. Skincare dominated the category with over 2 billion units, led by moisturizers and anti-aging serums. The region showed a strong shift toward clean beauty, with 58% of product launches labeled organic or vegan. Male grooming products grew by 21%, crossing 520 million units. Online sales represented 62% of total units, largely influenced by digital-first brands and influencer marketing.

Europe

Europe consumed approximately 5.1 billion units, with Germany, France, and the U.K. accounting for over 60% of the regional volume. Germany led with 1.2 billion units, followed by France at 1.1 billion units, and the U.K. with 950 million units. Fragrances were especially strong in Europe, contributing over 1.6 billion units. Eco-conscious packaging adoption rose to 47%, resulting in 720 million refillable products across skin and makeup categories. Offline channels remained strong, contributing 3.3 billion units, especially through pharmacies and specialty beauty retailers.

Asia-Pacific

Asia-Pacific was the top-performing region with over 7.2 billion units sold. China led the region with 3.1 billion units, followed by India at 1.4 billion units, Japan at 870 million units, and South Korea at 650 million units. Skin brightening and SPF-inclusive skincare dominated, with 2.9 billion units in this category alone. The region embraced technology, generating over 9 million AI-guided beauty consultations, and 28% of all products sold were customized. South Korea saw a rise in gender-neutral cosmetics, reaching 110 million units in 2024.

Middle East & Africa

Middle East & Africa contributed 1.6 billion units to the global market. The UAE, Saudi Arabia, and South Africa were the top three countries, with 380 million, 320 million, and 270 million units respectively. Fragrances were the dominant product, with over 600 million units sold. The rise of halal-certified cosmetics contributed 410 million units, while demand for water-resistant makeup climbed to 180 million units due to regional climate conditions. Offline retail, especially via mall-based stores, made up 74% of distribution.

List Of Makeup & Cosmetics Companies

Olay
Maybelline
L'Oréal
Lakme

L'Oréal: maintained its global lead with over 4.3 billion units sold in 2024. It dominated in foundations (960 million units), moisturizers (1.1 billion units), and hair products (870 million units). Its digital platforms saw 600 million unit sales alone, making it a top performer both offline and online.

Olay: held the second-largest market share, with 2.9 billion units sold globally. The brand saw strong presence in moisturizers (1.6 billion units), sun care (570 million units), and anti-aging serums (410 million units). Its dermatologically approved ranges accounted for 78% of unit sales in 2024.

Investment Analysis and Opportunities

In 2024, the makeup and cosmetics market witnessed over 120 large-scale investment projects globally, focused on sustainable packaging, AI-driven personalization, and regional manufacturing expansion. Manufacturing capacity across skincare and makeup increased by approximately 1.3 billion units compared to the previous year. Asia-Pacific saw a significant portion of this growth, with more than 22 new facilities inaugurated in India, Vietnam, and Indonesia. These facilities added a combined output of 480 million units annually. In China, localized production of color cosmetics grew by 19%, increasing capacity by 220 million units. Packaging innovation drew heavy investment, especially in refillable and recyclable formats. Global beauty brands committed to converting 40% of their lines into refillable systems by 2026, with 1.6 billion units already switched in 2024. One European firm invested in plant-based resin tubes, reducing traditional plastic use by 280 million units.

In North America, over $300 million equivalent in unit capacity was allocated to AI personalization platforms. These platforms enabled 18 million customized beauty kits in 2024, based on skin tone, climate, and health preferences. Personalization demand pushed investment in pigment laboratories, increasing the available custom shades from 3,500 to 5,800 globally. Fragrance manufacturers invested in microencapsulation and skin-sensing delivery systems. By the end of 2024, 37 million units of advanced-release fragrances had been sold, a 62% increase from 2023. These investments offer a new frontier for functional fragrances—those that adapt based on temperature or sweat levels. Emerging markets were a hotspot for franchising and retail expansion. Africa recorded a 22% increase in physical retail outlets, with unit distribution exceeding 145 million, driven by regional partnerships. Latin America attracted funding to boost locally formulated, climate-specific makeup solutions. Brazil alone launched 90 new localized products, adding 110 million units to national sales. Investors also focused on clean-ingredient sourcing. Over 300 brands entered long-term contracts with botanical farms, supplying raw ingredients for up to 900 million units per year. These backward integrations reduced ingredient costs by 12% and lowered import dependency across the EU and U.S. The most promising investment areas remain AI-led personalization, refillable formats, functional ingredients, and regionalized product development—all forecasted to collectively support the production and sale of over 5.6 billion new units annually in the next three years.

New Product Development

Product innovation in the makeup and cosmetics industry accelerated throughout 2023–2024, with over 5,700 new SKUs introduced globally. These products spanned skincare, cosmetics, fragrance, haircare, and gender-neutral lines, addressing diverse consumer demands. The leading area for NPD was multifunctional makeup, accounting for 1.9 billion new units. Lipsticks with SPF, anti-aging serum foundations, and hydrating eyeliners contributed to this surge. Lip oil-gloss hybrids sold 420 million units, and serum-based foundations reached 680 million units, especially popular in North America and Asia. Clean beauty innovation yielded over 1,100 new ingredient formulations in 2024. Mineral-based sunscreens saw 18% more launches, totaling 630 million units, while probiotic-infused moisturizers reached 120 million units. Synthetic fragrance-free SKUs now account for 34% of new skincare, responding to rising allergy concerns.

Smart technology entered the scene with AI shade-matching tools, supporting launches of over 18 million personalized foundation units. These products used skin-matching tech in physical kiosks and apps, each processing an average of 80,000 user profiles per month. Additionally, UV-activated makeup—a new segment—hit 9 million units, changing tone under sunlight. Hair care new products also rose, especially in scalp care. Serums infused with tea tree oil, peptides, and caffeine sold over 210 million units. Sulfate-free innovations added 370 million new units, and 3-in-1 styling shampoos with treatment functions sold 120 million units globally. In fragrance, water-based mists launched in 95 countries, selling 230 million units in 2024. Roll-on perfumes expanded by 33%, reaching 180 million units, primarily due to travel and gym-friendly demand. Scent layering kits—featuring customizable base and top notes—sold 500,000 units worldwide. New entrants in the men’s grooming market created 470 million new units, including brow styling gels and under-eye correctors. This reflects a 21% year-over-year increase in male-targeted cosmetics. For teens and Gen Z, holographic and color-shifting makeup gained attention. Glitter lip balms and chameleon eye shadows exceeded 95 million units. TikTok-driven beauty trends led to 3.1 billion hashtag views, significantly boosting real-time sales of trendy items. Overall, 2024 highlighted agility in innovation cycles, with new product concepts now reaching the shelf in under 6 months. The industry’s ability to adapt quickly through smart packaging, personalization, and inclusive design has positioned it to release another 6,000+ SKUs in 2025.

Five Recent Developments

L’Oréal launched 1,200 new SKUs globally in 2024, including personalized skin diagnostic kits with over 9 million units sold through AI-powered kiosks.
Maybelline introduced vegan-certified lipsticks in 38 countries in Q2 2024, exceeding 180 million units sold within 8 months.
Lakme debuted India’s first refillable compact foundation line in August 2023, leading to over 14 million refill pods sold by early 2024.
Olay released a customized vitamin B3 moisturizer range tailored to regional humidity levels, moving 130 million units globally in 2024.
L’Oréal opened a new R&D facility in Singapore focused on waterless formulas, with 80 prototypes developed and 22 products launched already.

Report Coverage of Makeup & Cosmetics Market

This report offers complete analytical coverage of the global Makeup & Cosmetics Market, detailing current and projected unit volumes, segmentation by type and application, regional dynamics, market drivers, product innovations, investment trends, and key manufacturer profiles. Total market unit sales in 2024 exceeded 22.4 billion, with skin and sun care products leading at 7.8 billion units, followed by makeup and color cosmetics at 6.7 billion units, hair care at 3.4 billion units, deodorants at 2.2 billion units, and fragrances at 2.3 billion units. Segmentation by distribution channel remained balanced, with online and offline sales each accounting for 11.2 billion units. Application-specific insights include in-depth analysis of ingredient trends, functional features, and packaging shifts. In makeup, SPF and skincare-enhanced formulations drove unit sales above 2.8 billion units, while refillable packaging in deodorants surpassed 360 million units. In skin care, natural and anti-aging products made up 63% of the top-selling SKUs. Regionally, Asia-Pacific led in volume, with over 7.2 billion units, North America followed with 5.4 billion units, Europe with 5.1 billion units, and Middle East & Africa with 1.6 billion units. The report includes detailed analysis of market behavior, demographic influences, and regional production capacities. Key companies profiled include L'Oréal, Olay, Maybelline, and Lakme, with the top two players accounting for over 7.2 billion units collectively in 2024. Each profile covers product focus, innovation output, distribution strategy, and manufacturing footprint. Investment analysis covers packaging technology, sustainable sourcing, personalization systems, and facility expansion. The report captures over 120 investment events and 5,700+ product launches, each tied to unit-level data to quantify market impact. Trends like clean-label formulations, digital consumer tools, and hybrid product formats are detailed across all major categories. With granular insights into volumes by application, type, region, and manufacturer, the report is structured to support strategic decision-making for product development, supply chain planning, and market entry strategies. This comprehensive market intelligence offers unmatched clarity into the evolving global cosmetics landscape—covering over 30 data points per segment and supporting rapid growth and innovation across the value chain.