The global luxury cosmetics market size reached US$ 50.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 67.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.
What is the Definition of Luxury Cosmetics?
Luxury cosmetics are produced with organic and premium-quality ingredients available in sophisticated packaging at a higher price than drugstore products. These include makeup, haircare, skincare, and fragrances. They are environment-friendly and provide several benefits, including longevity, consistency, and high-end quality, with better ingredients that enhance the appearance without causing damage. As a result, luxury cosmetics are gaining traction among individuals across the globe to treat skin-related complications.
Luxury Cosmetics Market Trends and Drivers:
The market is primarily driven by the rising demand for luxury cosmetics to solve hair skin-related concerns, including dandruff, hair fall, acne, and skin rashes. In addition, rapid urbanization, growing disposable incomes of individuals, especially in developing regions, and the increasing working women population are contributing to the market growth.
Moreover, the rising popularity of high-performing, natural, organic, fashionable, multi-colored, and luxury makeup products represents another major growth-inducing factor. Besides this, the expanding e-commerce sector and the easy availability of luxury cosmetics products through online and offline distribution channels are also providing a positive thrust to the market growth. Along with this, the market is also driven by the widespread adoption of halal cosmetics with proven vegan ingredients.
Furthermore, key players are investing in research and development (R&D) activities to launch anti-aging cosmetics, oral care products, and fragrances which is propelling the market growth. Other factors, including the growing upper-middle class population and the rising popularity of influencers on social media platforms promoting luxury cosmetics, are also creating a positive market outlook across the globe.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Luxury Cosmetics Companies:
- Avon Products Inc. (Natura & Co.)
- Coty Inc.
- Estée Lauder Companies Inc.
- Kao Corporation
- Kosé Corporation
- L’Oréal S.A.
- LVMH Moët Hennessy Louis Vuitton
- Oriflame Cosmetics AG
- Puig
- Revlon Inc.
- Shiseido Company Limited
- Tatcha LLC.
How Big is The Luxury Cosmetics Market?
| Report Coverage | Details |
| Market size value in 2022 | US$ 50.1 Billion |
| Market forecast in 2028 | US$ 67.6 Billion |
| Growth Rate | CAGR of 4.9% from 2023 to 2028 |
| Base year for estimation | 2022 |
| Historical data | 2017-2022 |
| Forecast period | 2023-2028 |
Global Luxury Cosmetics Market 2023-2028 Analysis and Segmentation:
The report has segmented the market on the basis of region, based on product type, type, distribution channel and end user.
Breakup by Product Type:
- Skincare
- Haircare
- Makeup
- Fragrances
Breakup by Type:
- Organic
- Conventional
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty and Monobrand Stores
- Online Stores
- Others
Breakup by End User:
- Male
- Female
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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