The online cosmetics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Online Cosmetics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The online cosmetics market size has grown strongly in recent years. It will grow from $12.27 billion in 2023 to $13.36 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to a rise in smartphone adoption, rise in home delivery services, increasing popularity of at-home beauty treatments, growth in awareness of product ingredients and benefits, and rise in the number of online beauty tutorials
The online cosmetics market size is expected to see strong growth in the next few years. It will grow to $18.99 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to increasing consumer preference for online shopping, increasing demand for personalized beauty products, increasing adoption of e-commerce platforms, increasing investment in digital marketing by beauty brands, and increasing internet penetration. Major trends in the forecast period include technological advancements, virtual try-on technology, AI and machine learning, anti-aging products, and digital payments.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The rising internet penetration is expected to propel the growth of the online cosmetics market going forward. Internet penetration refers to the extent to which internet access is available to a population within a particular geographic area, typically expressed as a percentage. The internet penetration is due to expanded broadband and mobile networks, government initiatives, affordability of services and devices, technological advancements, public-private partnerships, digital literacy programs, relevant content and services, and overall economic development. The increasing use of the internet revolutionized the cosmetics industry by making it more accessible, informative, and convenient for consumers worldwide. For instance, in February 2024, according to the International Telecommunication Union, a Switzerland-based specialized agency, the number of people utilizing the Internet grew from 5.1 billion in 2022 to 5.4 billion in 2023. Therefore, the rising internet penetration is driving the growth of the online cosmetics market.
Market Trends –
Major companies operating in the online cosmetics market are focusing on developing innovative products, such as cosmetics for Gen Z men, to cater to evolving consumer preferences and demographic trends. Cosmetics for Gen Z men are beauty and grooming products specifically designed to meet the skincare, grooming, and self-expression needs of younger male consumers born between 1997 and 2012. For instance, in December 2022, Kao Corporation, a Japan-based chemical and cosmetics company, launched UNLICS, a cosmetics brand for Gen Z men who aspire to a beauty deeper than personal grooming and UNLICS online retail site. The launch of the official UNLICS online retail site enhances accessibility and fosters direct engagement, inviting consumers to explore and redefine their care routines with confidence and purpose. Designed to empower young men on their journey of self-expression, the brand emphasizes inclusivity and authenticity by offering a range of versatile products that cater to diverse skin types and needs.
The online cosmetics market covered in this report is segmented –
1) By Type: Skin Care, Fragrance, Makeup, Hair Care, Sun Care, Bath And Shower
2) By Category: Mass, Premium
3) By Distribution Channel: Company Website, Retail Website
4) By Application: Men, Women
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Regional Insights –
North America was the largest region in the online cosmetics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the online cosmetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the online cosmetics market are LVMH Moët Hennessy Louis Vuitton SE, Johnson & Johnson, Parfums Christian Dior, L’Oréal S.A., Chanel S.A., Hermès International S.A., Kao Corporation, Shiseido Company Limited, Avon Products Inc., Clinique Laboratories LLC, Amorepacific Corporation, Clarins Group, Kosé Corporation, MAC Cosmetics, L’Occitane Groupe S.A., Elizabeth Arden Inc., Fenty Beauty by Rihanna, e.l.f. Cosmetics, Anastasia Beverly Hills LLC, Kiehl’s LLC, Charlotte Tilbury Beauty Ltd., Bobbi Brown Professional Cosmetics Inc., NARS Cosmetics, SK-II, Kylie Cosmetics LLC
Table of Contents
1. Executive Summary
2. Online Cosmetics Market Report Structure
3. Online Cosmetics Market Trends And Strategies
4. Online Cosmetics Market – Macro Economic Scenario
5. Online Cosmetics Market Size And Growth
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27. Online Cosmetics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix