Beauty Landscape
Delivered October 15, 2019. Contributor: Erin J.
Goals
To gain an understanding of the global beauty market, excluding hair care and men's products, including market size, growth, major players, disruptors and trends.
Early Findings
- It is predicted that the global market for personal care and beauty products will be worth $716.6 billion in 2025 and grow at a rate of 5.9% per year between now and then. Using a CAGR calculator, we can estimate that the personal care and beauty product industry is worth $508.04 billion in 2019.
- The men's personal care market is projected to be worth $166 billion in 2022 with a growth rate of 5.4% between now and then. Using a CAGR calculator, we can estimate the current men's personal care market at $141.77 billion.
- The hair care market is projected to be worth $116.33 billion in 2024 with a growth rate of 3.35%. Using a CAGR calculator, the hair care market is estimated to be worth $98.66 billion in 2019.
- Based on the above calculations, the global market for beauty and personal care products, excluding hair care and men's products, is worth approximately $267.61 billion ($508.04 billion - $141.77 billion - 98.66 billion).
- The Asia Pacific region has the largest beauty product market while the Middle East and Africa is the fastest growing region.
- The skincare segment is expected to show the largest growth between now and 2025, with a predicted CAGR of 6.2%.
- Major players in the market include The Este Lauder Companies, Revlon, Proctor & Gamble, L-Oreal and Unilever.
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