The beauty industry is constantly evolving, with new products, trends, and innovations coming to market every year. From skincare to makeup and haircare to wellness, the sector continues to thrive worldwide. But what do the numbers say about growth, consumer behavior, and trends? Understanding the key beauty industry statistics can give you valuable insights into what’s happening in the market in 2024. Whether you’re a beauty lover, a brand owner, or just curious, this guide covers the key beauty industry statistics you need to know.
1. Global Beauty Industry Size
The global beauty and personal care market is booming. According to reports, the global beauty industry is valued at over $500 billion and is expected to reach around $800 billion by 2025. This massive growth is being driven by factors such as increasing consumer interest in self-care, the rise of beauty standards on social media, and a growing emphasis on well-being.
Why it matters:
The beauty industry is one of the fastest-growing markets in the world.
Rising disposable incomes and a shift toward more luxurious beauty products are contributing to this growth.
2. Skincare dominates the market
Among all beauty segments, skincare has become the largest category. In 2023, skincare products accounted for more than $150 billion of the market’s total sales. This category includes items such as moisturizers, serums, cleansers, and treatments.
Why it matters:
Skincare is now a priority for consumers, with a focus on anti-aging, hydration, and skin health.
Clean and sustainable skincare products are gaining more attention as consumers become more educated about ingredients.
3. The rise of clean beauty
Consumers are increasingly aware of what goes into their beauty products. According to studies, about 77% of consumers are interested in using beauty products with natural, organic, or clean ingredients. Demand for clean beauty products—those that are free of harmful chemicals like parabens, sulfates, and phthalates—is steadily growing.
Why it matters:
Clean beauty reflects a broader trend toward sustainability and ethical consumerism.
Brands that focus on clean and green beauty have seen a significant increase in sales, especially among younger demographics.
4. Convergence of beauty and wellness
In 2024, there is a noticeable convergence between beauty and wellness. A report shows that 63% of consumers now consider beauty products as part of their overall wellness routine. This means more consumers are choosing products that promote mental health, relaxation, and holistic well-being, such as aromatherapy oils, CBD-infused skincare products, and facial massages.
Why it matters:
Consumers are looking for more than just cosmetic enhancements—they want products that enhance their overall well-being.
Wellness-focused beauty products are expected to continue to grow, influencing both new product launches and consumer preferences.
5. The Impact of Social Media on Beauty Trends
Social media continues to play a huge role in shaping beauty trends. In fact, 70% of beauty purchases are influenced by social media, particularly platforms like Instagram, TikTok, and YouTube. The rise of influencers and beauty tutorials has greatly influenced consumer purchasing behavior.
Why it matters:
Social media platforms are critical for brand awareness and customer loyalty.
The power of beauty influencers and user-generated content has driven product trends, from makeup looks to skincare regimens.
6. The Men's Grooming Market Is Booming
The men’s grooming market is growing at an impressive rate. In 2023, the global men’s grooming industry was valued at $70 billion and is expected to surpass the $100 billion mark by 2025. This growth is being driven by men’s increasing interest in skincare, beard care and grooming tools.
Why it matters:
The men’s grooming market is increasingly embracing skincare products that have traditionally been aimed at women.
Brands are targeting men with tailored products, making this a key growth area.
7. Impact of online shopping
The beauty industry is also seeing a trend towards online shopping. 46% of beauty consumers prefer to buy beauty products online, with e-commerce platforms like Amazon, Sephora and niche beauty stores playing a large role in consumers’ purchasing decisions.
Why it matters:
Online shopping allows consumers to discover a wider variety of products and brands.
The ability to access reviews, tutorials and recommendations from influencers has made online shopping a popular destination for beauty enthusiasts.
8. Sustainability in the beauty industry
Sustainability is an increasingly important factor for consumers when choosing beauty products. About 58% of beauty shoppers reportedly say they would pay more for eco-friendly products. Brands are responding by focusing on sustainable packaging, eco-friendly ingredients and cruelty-free practices.
Why it matters:
Environmentally conscious consumers are driving demand for sustainable products and pushing brands to prioritize the environment in their business strategies.
Sustainable beauty practices aren’t just a trend—they’re expected to become an industry standard in the coming years.
9. Beauty Subscriptions
Beauty subscription boxes like Ipsy and Birchbox are growing in popularity. In 2023, the beauty subscription box industry was valued at about $14 billion and is expected to continue growing. These subscriptions give consumers access to sample-sized products, allowing them to discover new beauty brands and try products before committing to purchasing the full size.
Why it matters:
Subscription models offer convenience and allow consumers to try new products at a lower cost.
They also help brands reach a more targeted audience, creating opportunities for customer loyalty.
10. The dominance of makeup
While skincare has become the largest segment, makeup is still a major part of the beauty industry. In 2023, global makeup sales were $40 billion. The makeup category includes foundations, lipsticks, mascaras, and eye shadows. Demand for makeup products is driven by social media trends, influencer culture, and seasonal beauty collections.
Why it matters:
Despite the rise of skincare, makeup remains a staple for many consumers, especially those seeking a bold, expressive look.
Makeup brands are using influencer collaborations to stay relevant and promote new collections.
11. Beauty in the age of artificial intelligence
Artificial intelligence (AI) is leaving its mark on the beauty industry. AI is being used for personalized skincare recommendations, virtual makeup try-ons, and even developing customized beauty products. According to reports, the use of AI in the beauty industry is expected to grow by 40% over the next few years.
Why it matters:
AI improves the consumer experience by offering customized beauty solutions that increase customer satisfaction and loyalty.
Virtual try-ons and personalized skincare will continue to transform the way consumers interact with beauty products.
Conclusion
The beauty industry is thriving in 2024 with billions in sales and constant innovations shaping trends and consumer behavior. From the increasing demand for skincare products to the rise of clean beauty and wellness products to the influence of social media, the market continues to evolve at a rapid pace. Knowing these key beauty industry statistics can help businesses and consumers stay ahead of trends and make informed decisions. Whether you’re investing in beauty products, launching a new brand, or simply want to stay up to date with industry developments, these statistics provide valuable insight into the future of the beauty market.
