45 Beauty Industry Statistics That Will Impress You
Beauty is a concept with an ever-changing definition. Today, as society evolves, the cosmetics industry must keep up to date with the latest beauty industry statistics and the latest trends.
And, it isn’t easy. The beauty industry is as fast-growing and dynamic as the definition of the concept itself. With new products and services appearing on the market daily, it can be difficult to keep track of all developments.
Whether you are planning to turn an idea into a profitable business or you are just a consumer learning more about the cosmetics industry, these facts will help you understand it better and learn more about what’s new in the world of beauty.
Top Ten Beauty Industry Statistics to Remember
- CBD infused anti-wrinkle products show results after 40 days of use.
- The cosmetics industry was worth $93.5 billion in the US market in 2019.
- 21% of Americans are buying organic makeup.
- Facial skin masks account for half of the total Korean cosmetics market share.
- 48% of Millennials say they would purchase products with CBD oil for skin care.
- 4 out of 5 American women follow beauty industry trends and regularly use fragrance products.
- The global beauty industry is worth over $500 billion.
- There are almost 1 million employees in the service segments of the cosmetics industry.
- 51% of consumers want to see images that are not photo-shopped.
- Women in the USA spend around $3,000 on cosmetics annually.
Let’s take a close look at the cosmetology industry.
How Big Is the Cosmetic Industry?
1. The global beauty industry is worth about $532 billion.
The cosmetic industry is growing faster today than ever before with an estimated market value of almost $805 billion by 2023. It is expected to grow at a compound annual growth rate (CAGR) of 7.14% from 2018 to 2023.
2. The global cosmetics market noted a 5.5% increase in 2018.
Last year the beauty industry registered the highest growth in revenue, reveal beauty industry statistics from 2004 to 2018.
3. The growth rate of the global cosmetics market was the lowest in 2009.
Even the cosmetics industry took a hit in the 2009 global recession, but not as much as other sectors. Experts consider the beauty industry to be one of the few recession-proof industries.
4. The cosmetics industry was worth $93.5 billion in the US market in 2019.
This is an increase of $74.7 billion from the year before.
Estimations on how much is the beauty industry worth in 2020 show that beauty and personal care products market value will be $97.3 billion.
5. Women in the USA spend around $3,000 on cosmetics annually.
(New York Post)
This translates to around $225,360 throughout their entire lifetime. Men, on the other hand, spend an average of $2,928 per year on health and beauty products.
6. Sales revenue in the makeup segment grew by 1% in 2018.
Sales revenue in the makeup industry reached $8.1 billion in 2018. Growth is expected in this category as the number of consumers constantly increases. In fact, beauty industry statistics show that in 2018 alone, the number of consumers using makeup reached 67%.
7. $41.8 billion was generated from total sales of fragrances globally in 2018.
(Statista) (PR Newswire)
In terms of regions, North America was the market leader accounting for 33.9% of the global market share. In 2017, the value of the US fragrance market amounted to approximately $6.66 billion.
8. The global perfume market alone was worth $38.8 billion.
Cosmetic industry statistics worldwide estimate the market value to reach $48 billion by 2024, at a growth rate of 3.6%.
9. Personal care products are expected to grow at a rate of 4.5% up to 2020.
(Zion Market Research)
The sale of personal care products, or toiletries, is growing and is expected to reach $500 billion by 2020.
10. There are almost 1 million employees in the service segments of the cosmetics industry.
According to the beauty industry growth statistics, the number of employees in the service segment is expected to increase by 10% for barbers, hairdressers, cosmetologists, and by almost 22% for massage therapists by 2024.
11. Service providers make 5-15% of revenue from sales of products.
Hair salons and barbershops mostly rely on sales of cosmetic products to make a profit, as well as on price, location, and targeted demographics.
Skincare Industry Statistics
12. The global skincare market was worth nearly $135 billion in 2018.
(CNN Business) (Statista)
Judging by cosmetic industry statistics for 2018, this is an increase of almost 60% in the past ten years. The highest selling skin cosmetic products in the USA were facial cleansers, generating sales of approximately $1.5 billion in 2018.
13. Skincare accounts for 60% of the total profit in the beauty industry.
(CNN Business) (Vogue Business)
Due to the raised awareness about the importance of skincare and the rising number of men purchasing skincare products, this market segment continues to grow. Skincare sales increased by 5% in the first quarter of 2019 and facts on the beauty industry in the USA inform us that revenue reached $1.4 billion.
14. Anti-aging and natural beauty products are the largest contributors to the growth in skincare product sales.
Olay Regenerist, owned by Procter & Gamble, was the top facial anti-aging brand that made up 8.7% of anti-aging brand sales.
15. Facial skin masks account for half of the total Korean cosmetics market share.
The Korean cosmetics market was valued at over $13 billion last year and is ranked among the top 10 beauty markets worldwide, as suggested by Korean cosmetic industry statistics.
Hair and Perfume Industry Stats and Facts
16. 4 out of 5 American women say they regularly use fragrance products.
The women’s mass fragrance market in the USA is valued at $465 million, while the market for fragrances for men is worth $327m.
17. Elizabeth Taylor was the first celebrity to create her own line of perfume.
One of the best-selling women’s perfumes in the US, Elizabeth Taylor White Diamonds, generated almost $23 million in sales even after her death, cosmetics industry statistics from 2015 show.
18. The global hair care market was valued at $87.73 billion.
Sales of hair care products in the USA have generated $12 million since the start of 2019, making it the global leading market for hair cosmetic products.
19. The size of the global hair care market is expected to grow by over 3% up to 2023.
Revenue from the sale of hair products on the US market is expected to reach $13 billion by 2022, suggest cosmetic industry statistics. There is an increasing demand on the US market and consumers are willing to pay more for new and innovative hair care products.
20. Shampoo had the largest market share in the hair care segment.
548 million units of shampoo were sold in the USA generating revenue in the amount of $24 billion. This category is expected to increase to $30 billion by 2023.
Cannabis and the Beauty Industry
21. Products that contain less than 0.2% of THC are legal in the UK.
UK cosmetic industry statistics reveal that cosmetics products, including skincare cosmetics that contain no more than 15% of CBD are completely legal.
22. CBD infused anti-wrinkle products show results after 40 days of use.
(Truth in Aging)
Consumers state that using products that contain cannabis oil, particularly CBD eye serum, removes signs of aging and undereye puffiness.
23. 48% of Millennials say they would purchase products with CBD oil for skin care.
(Linkage Research and Consulting)
Some of the attributes of CBD include anti-inflammatory and analgesic properties, beauty industry facts tell us, which means it can act as a pain-killer and treat dry skin, psoriasis, and eczema. Basically, all types of inflammation.
24. Acne is the most common skin condition, and it is CBD treatable.
(Medical News Today)
Studies show that CBD oil for acne could be an effective treatment. CBD scan control inflammation and oil production, two of the reasons why acne develops. Going by this, it is clear that cannabis has a bright future as CBD skin care products can be made to suit all skin types, suggest cosmetics industry statistics.
25. Sales revenue of Herb Essentls, a cannabis-infused skincare cosmetic brand, tripled in 2017.
The company was launched at the start of 2017, and by the end of the year, its products were sold in over 30 US stores and online retailers. The company also reports a steady interest in Europe, too.
26. Lip balms containing CBD and THC are introduced on the market.
Vertly lip balms contain less than 0.3% THC and only use CBD from industrial hemp. Facts about the beauty industry show that this product provides all the benefits of cannabis oil, without getting you high. Consumers say that CBD lip balms hydrate the lips without feeling sticky or gloppy.
27. Milk Makeup went 100% vegan and subbed beeswax with CBD oil.
Milk Makeup, one of the more popular cosmetics brands among Gen Y shoppers, introduced Kush Mascara, a product infused with cannabis oil. The CBD in the mascara creates more volume and also prevents fallout, say consumers who follow beauty industry trends.
28. 18% of Millennials purchase hair care products that contain CBD.
(Linkage Research and Consulting)
Almost a third of Generation Y say that they already purchasing hair and skin products that are organic or plant-based, while 37% say they would like to buy hair care products that contain high-quality CBD oil, demonstrating another connection between CBD and the beauty industry.
29. Each 1.7oz bottle of Lord Jones CBD Body Lotion contains 100 mg of CBD.
Due to its calming and soothing effects, health and beauty industry statistics prove that cannabis oil is widely used to relieve chronic pain within an hour after application.
Beauty Industry Biggest Trends
30. The biggest trend in 2015 involved innovations in male grooming.
That year beards were a big trend and beard hygiene and grooming attracted a large number of male consumers. Also, male cosmetics, like concealers and lip balm and even nail polish were marketed to men.
Beauty products that made men comfortable using them were identified as one of the most popular beauty industry trends in 2015.
31. One of the 5 emerging trends in the cosmetics industry in 2017 was a shift towards natural products.
(BMG) (Grand View Research)
In addition to long-lasting makeup and the focus on health and wellness, more and more consumers were demanding toxin-free, natural beauty products. Raised awareness over ethics and chemical content in beauty products, especially among millennials, is estimated to drive this market segment at a growth rate of 5%.
32. 21% of Americans are buying organic makeup.
Following beauty industry trends from 2017, 40% of Americans believe that natural personal care products are healthier due to them being alcohol-free as well as being skin-friendly and good for the environment.
33. Natural brands are the leading contributor to increased sales of skincare products.
Organic skincare and natural beauty products, more specifically organic face creams, account for the largest share of revenue growth in the organic cosmetics segment.
34. Almost 40% of adults have shown an interest in gender-neutral cosmetics products.
One of the more popular beauty industry trends in 2018 was the appearance of more and more unisex products on the market as Gen Z consumers seek inclusivity. In fact, over 56% of US male respondents in a 2018 survey stated that they used facial cosmetics at least once that year.
35. Makeup rose as the latest workout essential in 2018.
With the growth of athleisure, cosmetic brands followed suit in the effort to make our (cannabis) exercise routine more pleasurable. The sale of long-lasting foundation grew by 8% and waterproof mascara by 16% as a result of this trend.
36. Korean cosmetic industry popularity statistics showed a decline in 2018.
Influenced by K-pop and Korean soap operas, the sale of Korean beauty products peaked in 2016, however, it declined by 15% from 2017 to 2018.
37. CBD oil emerged as one of the biggest beauty trends in 2018.
Used in products that treat dry skin and even relieve chronic muscle and joint pain, the beauty industry and CBD oil proved to be a profitable mix. Projections based on organic cosmetics industry statistics estimate sales of CBD reaching $22 billion by 2022.
38. Sephora’s High Beauty brand allows CBD cosmetics to go mainstream.
With over 460 stores in America and 660 in-store shops, Sephora has the power to market cannabis-infused products more available for mass consumption.
39. 88% of consumers say they would be more loyal to a socially responsible company.
Consumer behavior was shifting towards social responsibility in 2018 with 92% of consumers claiming they would trust a company or cosmetic brands that support social or environmental issues, cosmetic industry statistics from 2017 indicate.
40. The beauty industry produces 120 billion units of packaging a year.
Most of the packaging is not recyclable. Consumers are demanding sustainability and beauty brands are up to the challenge. P&G’s Olay introduced a refillable product that sold at 1.26 million units and was named No.1 new skincare product.
41. 51% of consumers want to see images that are not photo-shopped.
Accepting real beauty in all shapes and sizes is one of the emerging cosmetics industry trends in 2019.
42. Consumers demand greater transparency regarding the process and ingredients of cosmetic products.
As consumers ask for more insight into the manufacturing process of beauty products and the ingredients used, it is no surprise that clearer labels will be one of the new trends among the top cosmetic brands.
Beauty Industry and Social Media
43. 82% of women believe that social media drives trends.
Social media is a platform for the constant exchange of information and opinions from friends and family to celebrities and trendsetters and one of the beauty industry trends for 2019 that will shape the cosmetic industry even more in the years to come.
44. MAC has the most Twitter and Instagram followers.
MAC Cosmetics was ranked first in 2018 with 1.49 million followers on Twitter. It was also ranked as the most popular beauty brand on Instagram with 22.6 million followers.
45. Kylie Cosmetics is the second most popular beauty brand on Instagram.
Kylie Cosmetics has 21.8 million followers on Instagram. Cosmetic industry statistics reveal that its owner, Kylie Jenner was the most followed influencer on Instagram, while football player Paul Pogba was the only male on the list of the most popular fashion and beauty influencers worldwide.
The beauty industry is a booming business that is estimated to grow at an even higher rate than ever before. Naturally, this is the result of people wanting to look good and be at their best.
However, beauty industry statistics show that this is also due to cosmetic companies embracing new trends in the industry at an incredibly fast pace, such as the incorporation of CBD into cosmetic products or more eco-friendly practices. Who knows what the beauty industry will look like in the future?