Beauty and Personal Care Products Market by Product, Channel, and Geography - Forecast and Analysis 2023-2027

Beauty and Personal Care Products Market Forecast 2023-2027

The Global Beauty and Personal Care Products Market size is projected to increase by USD 57.45 billion at a CAGR of 5.06% between 2022 and 2027. 

The growing popularity of anti-pollution skincare products is a major factor driving the market growth. Poor air quality is a major challenge for authorities and citizens worldwide due to urbanization, industrialization, and vehicular emissions. Incidents of air pollution have led to global deterioration, and indoor air quality is also a growing concern. Anti-pollution skincare products are rising in demand due to toxic fumes causing aging and skin conditions. These products provide protection from UV rays, improve skin tone, and increase collagen production. The LE BLANC intense brightening foam cleanser by CHANEL is an example of a solution that prevents skin damage by enhancing radiance, boosting hydration, and improving the skin's oxidation level. The growing demand for these products is expected to drive the global market.

Market Overview

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Market Trends, Challenges, and Customer Landscape

In the dynamic and evolving market of Facial toners, Antioxidants, and Sunscreens continue to gain significant attention from consumers worldwide. Decorants, a leading player in this industry, offers a range of products that cater to various skin types and concerns. The Antioxidants segment, including Vitamin C and E, is a popular choice due to their ability to neutralize free radicals and protect the skin from environmental damage. Facial toners, an essential step in skincare routines, help balance the pH levels and prepare the skin for optimal absorption of other products. Sunscreens, an indispensable part of personal care, are crucial in protecting the skin from harmful UV rays. Consumers are increasingly seeking Sunscreens with broad-spectrum protection and high SPF ratings. Moreover, the Skincare segment, including Creams and Serums, is expected to grow due to the rising awareness of the importance of maintaining healthy and youthful-looking skin. The Care segment, encompassing Hair Care and Body Care products, also holds a substantial market share, catering to the diverse needs of consumers. In conclusion, the Beauty and Personal Care Products market is a thriving industry, driven by consumer demand for innovative and effective solutions to address their various skin and hair concerns. Decorants, with its extensive range of high-quality products, is well-positioned to meet these demands and continue its growth trajectory.
Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.

Market Trends 

The emergence of beauty and personal care products with natural ingredients is a major trend in the market. Consumer awareness about the harmful effects of chemicals in beauty products has driven demand for natural ingredient products. The beauty and personal care industry is witnessing a shift towards organic ingredients due to growing health consciousness and consumer trends. Sales channels, including specialty stores, pharmacies, and beauty salons, are responding to this demand by offering products free from parabens, toluene, formaldehyde, artificial fragrances, DBP, petroleum-based chemicals, BHA, and sulfates. Male consumers are also embracing organic and vegan cosmetics. Companies, such as ESSE SKINCARE, focus on research and development to provide natural formulations for distinct skin concerns, like acne, dryness, pigmentation, aging, oiliness, and sensitivity. Production and supply of organic cosmetics prioritize sustainability and health. Product innovation incorporates advanced technologies and adheres to regulations set by the European Commission.

Consumers seek convenient alternatives to DIY beauty treatments and explore various distribution channels, including supermarkets and hypermarkets, e-commerce, and the skincare and haircare markets. Substitutes for chemicals with side effects are being researched, and regulations continue to evolve.Vendors are manufacturing products without harsh chemicals such as parabens, sulfates, and petroleum-based chemicals. ESSE SKINCARE offers a variety of skincare products with natural and organic ingredients for different skin concerns. The high use of harsh chemicals in skincare products may cause adverse health effects. Manufacturers are focusing on developing affordable hair care products and color cosmetics with natural ingredients to gain more customers. The emergence of natural ingredient products will positively impact the market's growth.

Market Challenge

Adverse health effects of chemical/synthetic ingredients is a major concern hampering the market growth. Global awareness of harmful chemicals in synthetic beauty and personal care products has caused beauty-related problems, such as skin irritation, hair dryness, hair fall, and even cancer. The market faces growing challenges due to consumer concerns over the side effects of synthetic ingredients, such as ammonia, peroxides, and various diamines. These chemicals, commonly found in shaving foam and other products, can lead to skin and hair issues, allergies, and even cancer. In response, consumer trends favor organic ingredients, vegan and organic cosmetics, and sustainability. Sales channels include specialty stores, pharmacies, beauty salons, and e-commerce. Male consumers and Gen Z are key demographics.

Product innovation involves natural formulations, advanced technologies, and substitutes for harmful chemicals. Regulations, such as those from the European Commission, are driving production and supply changes. Consumer health, convenience, and skincare and haircare markets are major factors. Distribution channels include supermarkets and hypermarkets, and DIY beauty treatments are also popular. Research and development continues to explore new product offerings and regulations. Ammonia, commonly found in synthetic products, causes dry, brittle skin and irritates the nose, throat, respiratory system, and eyes. Hair color products that use ammonia lead to hair damage. Despite such impacts, ammonia is still used in beauty products. Consumers are shifting to homemade or natural remedies due to growing awareness, limiting the market's growth during the forecast period.

Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Company Overview

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

• Coty Inc.- The company offers beauty and personal care products under the brand names of Anessa, Aqua Label, Elixar, and Haku.
• CHANEL Ltd.- The company offers beauty and personal care products that include cream for dry and oily skins, hair color, and setting powder.
• Revlon Inc.- The company offers beauty and personal care products under the brand name of La roche posay, Vichy, Cerave, Skinceuticals and Decleor.

The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market players, including:

• AMOREPACIFIC Group Inc.
• Avon Products
• Beiersdorf AG
• Edgewell Personal Care Co.
• Helios Lifestyle Pvt Ltd.
• LVMH Moet Hennessy Louis Vuitton SE
• Oriflame Holding AG
• Shiseido Co. Ltd.
• The Estee Lauder Co. Inc.
• VI JOHN GROUP
• Johnson and Johnson
• Kao Corp.
• LOreal SA
• Natura and Co Holding SA
• The Procter and Gamble Co.
• Unilever PLC

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Market Segmentation

Personal Care Products, Decorants, Facials, and Cosmetics play a significant role. These products cater to various consumer needs, such as Anti-aging, Sunscreens, and Skincare. The Body Care segment includes Hygiene products, Deodorants, and Perfumes. The Care segment encompasses Hair Care, Oral Care, and Colorants. Brands create awareness through various marketing strategies, including Advertising, Promotions, and Decorative packaging. The Consumers' preferences are influenced by factors like Affordability, Functionality, and Innovation. The market is driven by trends like Organic and Natural ingredients, Customization, and Sustainability. The market size is substantial, with continuous growth, making it an attractive investment opportunity for businesses. The industry is competitive, with major players like Body Care, Care, and Antidote competing for market share. The market is expected to grow further due to increasing consumer awareness and disposable income.

By Product

The market share growth by the skin care products segment will be significant during the forecast period. The increased awareness of the importance of skincare among customers globally mainly drives the growth of this segment.

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The skin care products segment was valued at USD 46.71 billion in 2017 and continued to grow until 2021. The growing demand for natural and organic products is expected to drive the demand for skincare products during the forecast period.The market is experiencing steady growth, driven by consumer trends prioritizing health, sustainability, and natural formulations. Organic ingredients and vegan cosmetics are increasingly preferred, while side effects from chemicals remain a concern. Sales channels include specialty stores, pharmacies, beauty salons, and e-commerce, with male consumers and Gen Z showing significant growth. Research and development is crucial for product innovation using advanced technologies, adhering to regulations set by the European Commission. Sustainability and convenience are key factors influencing consumer behavior. The Skincare market and Haircare products market lead production and supply, with distribution channels expanding to supermarkets and hypermarkets. Substitutes like DIY beauty treatments and the rise of e-commerce channels continue to impact market dynamics. Product innovation and natural formulations remain a focus for manufacturers to expand their customer base.

Furthermore, skincare products with additional features and multiple functions, such as specialized anti-aging skin care products and skin cleansing products, are gaining popularity among customers. In addition to this, the increase in digitalization and internet penetration has facilitated the availability of various skincare products online. This also has significantly influenced the growth of the market. Therefore, the above-mentioned factors will have a positive impact on the segment during the forecast period.

By Channel

The offline distribution channel generates revenue from various retail formats, including specialty stores, hypermarkets, supermarkets, convenience stores, and others such as salons and spas. However, the offline segment has been declining due to the rising preference for online shopping. The market encompasses various categories including Facial Toners, Anti-aging Products, Deodorants, Hair Dyes, Sunscreens, Skin Care, Oral Care, Body Care, Perfumery, Decorative Cosmetics, Hair Care, Organic, and Inorganic. Consumers prioritize appearance and skin care, leading to demand for Exfoliants, pH Balancers, Moisturizers, Dental Hygiene, Anti-dandruff, UV-protection, Serums, Exfoliators, Anti-aging Creams, Facial Masks, Sun care products, and Skin-aging solutions. Key ingredients include Vitamin A, Vitamin C, Peptides, Hyaluronic acid, Hydroxy acids, and Nanotechnology. The market caters to Millennials and offers Cosmetics made with Natural and Non-toxic ingredients. Manufacturers sell their products through specialty stores, hypermarkets, supermarkets, convenience stores, and other retailing formats to counteract the declining revenue trend due to online shopping. Categories include Skin Care, Color cosmetics, and Hair care.

Hypermarkets, supermarkets, convenience stores, and clubhouse stores were the second-largest sub-segment. Walmart is the largest hypermarket in the US. Although the offline segment is losing market share, vendors' innovative marketing strategies will keep the growth rate stable during the forecast period.

Key Regions for the Market 

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APAC is estimated to contribute 54% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The APAC market for Facial toners, Anti aging products, Deodorants, Hair dyes, Sunscreens, Skin Care, Oral Care, Body Care, Perfumery, Decorative Cosmetics, Hair Care, and other care items is projected to expand rapidly. Key drivers include increasing consumer awareness, rising disposable income, urbanization, and e-commerce growth. China, Japan, South Korea, and India lead the market. Consumers seek benefits like pH balancing, moisturizing, UV-protection, and anti-dandruff. Products include Serums, Exfoliators, Anti-aging Creams, Facial Masks, Sun care products, and more.

Trends involve organic and non-toxic ingredients, such as Vitamin A, Vitamin C, Peptides, Hyaluronic acid, Hydroxy acids, and Nanotechnology. Millennials favor color cosmetics and natural ingredients. Inorganic and organic offerings cater to various preferences.The increasing awareness among consumers about the benefits of using these products and the growing demand for premium products are the primary drivers. Moreover, the rise in disposable incomes, urbanization, and e-commerce market growth in the region will further boost the demand. With the world's highest population density, APAC is a significant market for these products. Also, the robust economies of China and India contribute to the growth of the market by increasing people's disposable income.

Market Analyst Overview

The market caters to consumer appearance preferences, with a focus on millennials , organic , natural, and non-toxic ingredients. Sales channels include pharmacies and beauty salons, targeting male consumers through research and development of vegan and organic cosmetics. Sustainable consumer trends drive product innovation, necessitating compliance with regulations from entities like the FDA and European Commission. Market segments include skincare and haircare, with distribution channels ranging from supermarkets to e-commerce platforms. Regional markets like Asia Pacific and Europe witness growth, alongside specific markets like Australia and Canada. The industry sees merger and acquisition activities, addressing demand for natural formulations and advanced technologies amidst rising interest in DIY beauty treatments.

Personal Care Products, Cosmetics, Vitamins, and Hyaluronic Acids play a pivotal role. These key components are integral to various beauty regimens, catering to diverse consumer needs. Cosmetics, including Make-up and Skincare products, are a significant segment of this market. Millennials and Gen Z consumers, in particular, are driving the demand for Cosmetics, with a focus on natural and organic ingredients. Vitamins, such as A, C, and E, are essential nutrients for maintaining healthy skin and hair. They are increasingly being incorporated into Personal Care Products, offering added benefits to consumers. Hyaluronic Acids, known for their ability to retain moisture, are another popular ingredient in Personal Care Products. They help keep the skin hydrated and plump, making them a must-have in anti aging products and skincare formulations. The market for these products is expected to grow significantly, with a strong focus on innovation, sustainability, and consumer education. Brands are investing in research and development to create effective, eco-friendly, and ethically-sourced products that cater to the evolving needs and preferences of consumers. In conclusion, the market is a vibrant and competitive landscape, driven by consumer trends, innovation, and the quest for effective and sustainable solutions. Cosmetics, Vitamins, and Hyaluronic Acids are key players in this market, offering a range of benefits to consumers and fueling the growth of this industry.

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Product Outlook
  • Skincare products
  • Haircare products
  • Color cosmetics
  • Fragrances
  • Others
• Channel Outlook
  • Offline
  • Online
• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Chile
    • Brazil
    • Argentina

Market Scope
Report Coverage	Details
Page number	165
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 5.06%
Market growth 2023-2027	USD 57.45 billion
Market structure	USD Fragmented
YoY growth 2022-2023(%)	4.11
Regional analysis	APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 54%
Key countries	US, China, India, Japan, and UK
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	AMOREPACIFIC Group Inc., Avon Products, Beiersdorf AG, Edgewell Personal Care Co., Helios Lifestyle Pvt Ltd., LVMH Moet Hennessy Louis Vuitton SE, Oriflame Holding AG, Revlon Inc., Shiseido Co. Ltd., The Estee Lauder Co. Inc., VI JOHN GROUP, CHANEL Ltd., Coty Inc., Johnson and Johnson, Kao Corp., LOreal SA, Natura and Co Holding SA, The Procter and Gamble Co., and Unilever PLC
Market dynamics	Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our market growth and trends report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market vendors

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