The global cosmetics market size was valued at USD 374.18 billion in 2023 and is expected to be worth USD 393.75 billion in 2024. The market is projected to be valued at USD 758.05 billion by 2032, recording a CAGR of 9.8% during the forecast period.
The global cosmetics market share is expected to grow substantially in the coming years as an increasing percentage of the global population is becoming conscious of their physical appearance. These beauty and personal care products can enhance a person’s overall appearance and offer a variety of haircare, skincare, and lip care products. Additionally, the growing demand for anti-aging products among the elderly population will contribute to high product sales.
Fortune Business Insights™ presents this information in a report titled, "Global Cosmetics Market, 2024-2032."
Information Source: https://www.fortunebusinessinsights.com/cosmetics-market-102614****
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.