Do you spend on personal care, skincare, and beauty products? Most likely, you do! The beauty industry is one of the few industries where both men and women spend a significant amount of their earnings.

As per studies, US consumers spend a whopping 89.7 billion on beauty products annually. 

That is why the beauty and personal care industry ranks among the top online shopping industries. Despite being hit by 8% during the pandemic, the beauty industry is growing and is supposed to reach 663.01 billion in revenue in 2027.

In this article, we have put together all the fresh information and statistics on the beauty industry.

So without any further ado, let’s dive in!

Contents in this article are as follows:

Key Beauty Industry Stats 2022

  • The beauty industry generated $528.6 billion in revenue in 2022.
  • Loreal generated a $35.64 revenue in 2021, the highest by a company in the beauty industry.
  • The beauty industry’s net worth is estimated at $564.43 billion in 2022. 
  • Today the global beauty industry is a $532 billion business.
  • Loreal leads the beauty industry market with the largest market capitalization of $205.43 billion as of 2022.
  • There are 4305 beauty and cosmetics manufacturing brands in the US as of 2022.
  • The US spends the most in the beauty industry – 89.7 billion USD annually.

Beauty Industry Ecommerce Stats 2022

  • The online channel for beauty in the U.S. grew by 5.6% in 2020.
  • Although ecommerce penetration has only increased slightly in recent years, the beauty industry’s online share is predicted to surge to 48% in the United States by 2023.
  • Cosmetic retailers report $17.09 billion in online sales.
  • Digital advertising makes up 34.1% of the total ad spend in the beauty industry.
  • Beauty companies spent an estimated $7.7 billion on advertising in 2022.
  • Despite the rise of online purchasing, 46% of consumers say they prefer to see beauty products in-person.

Beauty Supply Store Industry Analysis

  • Beauty supply store revenue has reached $25.6 billion with an increased rate of 2.3%, over the last five years.
  • The US beauty supply, perfume store, and cosmetics include over 17,000 establishments with combined annual revenue of USD 23 billion.

Beauty Industry And Social Media

  • 60% of the beauty content on Youtube is controlled by influencers. 
  • 42% of beauty product buyers (aged 18-24) are inspired to buy beauty products through social media. 
  • 37% of shoppers find out about new cosmetic brands through social media ads.
  • 66% of customers discover brands on social media through celebrity endorsements and bloggers.
  • Kylie Jenner’s cosmetics brand has had a tidal wave of impact on Instagram, while her own personal account has over 300 million followers.
  • Huda Beauty and Kylie Cosmetics have the largest social media engagement in the US. Huda Beauty has over 4 million subscribers on YouTube alone.
  • Loreal’s Instagram followers are over 10 million, making it the cosmetic brand with the largest Instagram following.
  • 33% of beauty shoppers like/follow a brand on social media.

Sources: Terakeet.com, Commonthreadco.com, Forbes.com, Planbuildr.com, Firstresearch.com

Brand-Interaction-On-Social-Media

Source: Zippa, Forbes, Wearesocial

 

Beauty Industry Revenue 2022

How Much Revenue Does The Beauty Industry Make? 

  • The beauty industry generated $528.59 billion worldwide in revenue in 2022 and is estimated to generate $571.07 billion in 2023. 
  • Global beauty industry revenue is expected to top $716 billion by 2025.
  • The beauty (skincare) industry generated $100 billion in revenue in 2021.
    Source: Statista

How Much Is The Beauty Industry Revenue By Year?

Despite an 8% fall in 2020, the beauty industry generated $528.60 billion in revenue in 2022, a 4.96% increase from 2021.

Have a look at the beauty industry revenue for the last nine years:

Year Revenue ($ bn)
2014 492.59
2015 458.06
2016 462.25
2017 484.43
2018 500.76
2019 507.96
2020 471.91
2021 503.62
2022 528.59

 

Beauty Industry Revenue By Year ($ bn)

Source: Statista

How Much Is The Beauty Industry Revenue By Company?

L’Oreal revenue was the highest at $35.64 billion in 2021 among all the top players in the beauty industry. Unilever ranked 2nd with $24.17 billion in revenue and The Estee Lauder revenue was $16.22 billion in 2021.

Beauty Industry Revenue By Company

Source: Statista

Related: Discord Revenue and Usage Stats 2022

How Much Do Consumers Spend Annually On Beauty Products?

  • Annual expenditure on beauty products is $182.3 per consumer in the United States. 
  • American women spend, on average, $313 a month on cosmetics.
  • On an average, American women spend more than $3,756 annually on beauty products and services.
  • Cosmetics industry spending topped $483 billion in 2020.
  • Americans spend between $244 and $313 on cosmetics every month on an average.
  • 3 out of 4 beauty customers respond well to personalized recommendations.
  • 1 in 5 women changed their skincare routine because of the COVID-19 pandemic.
  • 67% of beauty shoppers say they turn to influencers to discover new products.
    Source: Statista, Swnsdigital.com, Terakeet

Spending On Beauty By Country

Country Spending ($bn)
United States Of America 89.7
China  58.3
Japan 36.9
Brazil 34.7
Germany 19.1
United Kingdom 17.2
India 15
France  14.7
South Korea 12.8
Russia 11.4
Spendings On Beauty Products Country Wise

Source: Zippia

 

Beauty Industry Net Worth

How Big Is The Beauty Industry Market And How Much Is The Beauty Industry Worth? 

Up from $483B in 2020 to $511B in 2021 — and with an annual compounded growth rate of 4.75% worldwide — The beauty market is predicted to exceed $716B by 2025. And $784.6B by 2027.

Beauty Industry Market Value Worldwide ($ bn)

Source: Statista

How Big Is The Beauty Industry Worldwide?

The beauty industry’s net worth is estimated at $528.6 billion worldwide as of 2022. Researchers foresee an 8% Y-o-Y increase, the fastest annual growth rate in the last 13 years. Asia Pacific and North America account for more than 70% of the total market size.

Source: Statista

Beauty Industry Net Worth by Company

Loreal’s net worth is estimated at $211 billion, contributing around 40% of the beauty industry’s total net worth. Furthermore, Estee Lauder’s net worth is estimated at $93 billion

  Companies Net Worth ($ bn approx.)
#1 L’Oreal 211
#2 Estee Lauder 93
#3 Givaudan 30
#4 IFF 28
#5 ULTA Beauty 24

Source: Companiesmarketcap.com

How Much Is The Skincare Industry Worth? 

  • The skincare industry was worth $100.13 billion in 2021.
  • The skincare industry market value is projected to reach $177 billion by 2025.
  • The skincare category has grown the fastest and was worth $145 billion globally in 2022.
    Source: GlobeNewswire, ExplodingTopics

What Is The Growth Rate Of The Beauty Industry? 

The beauty market is expected to grow at a rate of 4.64% ( CARG 2022-2027). 

Source: Statista

What Is The Annual Growth Rate Of The Cosmetic Industry?

The cosmetics industry is expected to grow at an annual growth rate of 4.75% worldwide.

Source: Terakeet

How much Is The Beauty Industry Worth in 2025?

By 2025, the beauty industry will have a market share of $590.9 billion.

Source: Oberlo

 

Beauty Industry Market 2022

What Is The Largest Cosmetic Company In The World?

L’Oreal is the largest cosmetic company in the world with a market cap of $211.62 billion.

Where is Loreal most popular? Loreal is most popular in North Asia. L’Oreal market share is 35.10 percent in North Asia.

Who are Loreal’s greatest competitors? Estee Launder and Givaudan are Loreal’s greatest competitors as per the data.

Source: Companiesmarketcap.com 

Top Beauty Companies In The World

As of 2022, L’oreal is the top company in the beauty industry with the largest market cap of $211.62 billion followed by Estee Lauder and Givaudan with $93.35 billion and $30.28 billion market cap respectively.

  Top Beauty Companies Market Cap ($ bn)
#1 L’Oreal 211.62
#2 Estee Lauder 93.35
#3 Givaudan 30.28
#4 IFF 28.39
#5 ULTA Beauty 24.66

 

Top-Beauty-Companies-Worldwide

Source: Companiesmarketcap 

How Many Makeup Brands Are There In The US?

As of 2022, there are 4,305 cosmetic and beauty products manufacturing brands in the US, a 3.4% increase from 4164 brands in 2021. 

Source: IBISWorld

How Is The Beauty Industry Segmented? 

The cosmetic industry is segmented into 7 main categories. These categories are skincare products, makeup, perfume, hair care products, deodorants, oral care, and toiletries

Cosmetics

  • Among all categories, the cosmetics segment is the largest with a 32% share.
  • The natural cosmetics segment is expected to reach $54.5 billion by 2027.
  • Currently, makeup sales generate about $77.8 billion of the total $380.2 billion global cosmetics market.

Skincare

  • The skincare segment accounts for 24.3% of the market share.
  • The global skincare industry is currently valued at over $163.5 billion
  • 38% of US consumers reportedly use cleanser products.

Beauty Industry Segments

Source: Commonthreadco.com, Formulabotanica.com, grandviewresearch.com

Related: Doordash Revenue and Usage Stats

 

Beauty Industry Users 2022

Beauty Industry Demographics

What Demographic Buys The Most Beauty Products? 

Millennial women (aged 25-44) buy the most – 38% of beauty products, followed by women aged 45-54 who buy 18%.

Age Group (Women) Percent Usage
18-24 14%
25-34 19%
35-44 19%
45-54 18%
55-64 15%
65-74 15%
Beauty Products Purchased Age Wise

Source: TABSanalytics 

What Age Group Buys The Most Skin Care Products?

When it comes to skincare, the largest proportion of Gen Z (41%) buys skincare products followed by millennials at 40%. 

Age Group Percent Usage
18-25 41%
26-41 40%
42-57 31%
58-67 31%
% Of Age Groups Who Buy Skin Care Products

What Age Group Uses Makeup The Most?

  • Women aged 18-34 use makeup the most at 85%.
  • 77% of women aged 55+ wear makeup.
    Source: The Oklahoman

Skin Care Target Market Demographics

The primary target demographic for the skincare industry is women aged 18 to 41. That’s simply because this demographic of users buy the most – over 40% of skin care products.
Source: dealsonhealth.com

Beauty Industry Gender Ratio

What Percent Of The Beauty Industry Is Female?

In an industry with women as the target consumer demographic, men rule as the board of directors and CEO.

As per Fortune 500 companies, a small number of 37 companies are led by women. This means only 7.4% of beauty companies are led by women.

Additionally, women occupy 34% of board seats and 24% of executive positions at personal care companies.  

Source: Digital Beauty

What Percentage Of The Beauty Industry Is Male?

92.6% of companies in the beauty industry are led by men.

Source: Digital Beauty

Who Spends more on beauty products?

On average, women spend $69 more than men on beauty products.

Source: Zippa

Related: Bumble Revenue and Usage Stats 2022

 

Beauty Industry VS Fashion Industry 

Comparison  Beauty Industry Fashion Industry
Growth Rate 4.64% 6.2%
Net Worth $528.6 Billion (2022) $1.85 Trillion (2022)
The country that spends the highest  USA USA
Industry value in the US  $84 Billion $369.39 Billion
Revenue $528.59 Billion (2022) $0.87 Trillion ( 2022 )
Covid-19 effect -8% -28.5%
Largest share by company L’Oreal LVMH Group

Source: Zippa, Statista, FashionUnited

 

Conclusion

By looking at all the information mentioned above, we can clearly say that the beauty industry is growing around the world and across the nation and has no sign of slowing down in the coming future. The industry is growing at a rate of 4.64% which is a positive sign for new beginners.

Moreover, the beauty industry is valued at $84 billion in the US and is divided into 7 major segments. Women have been a major reason for the growth of the industry with average spending of $69 more as compared to men. Social media is the key to growth in the beauty industry with 61% of the followers coming from it.

Now, in the end, we hope that we were able to provide some fresh information to you on the beauty industry. But if you still think that we have missed something important then do let us know in the comments and we will try our best to add the stats.