Cosmetics and beauty market seen topping $369 billion by 2030

The cosmetics and beauty market is projected to grow at a 5% CAGR through 2030, with skincare emerging as the largest segment and Asia-Pacific set to lead regional expansion. The forecast points to rising demand for science-backed, personalized and sustainable products across beauty categories.

Why it matters: - The cosmetics and beauty market is forecast to exceed $369 billion by 2030, signaling steady demand across skincare, makeup, haircare and fragrance. - Skincare alone is expected to reach 43% of the market, or $159 billion, making it the category most likely to shape product strategy and investment. - The market’s growth reflects broader consumer shifts toward science-backed beauty, personalization and sustainability.

What happened: - The Business Research Company released its Cosmetics And Beauty Global Market Report 2026, covering market size, trends and a 2026-2035 forecast. - The report projects the market to grow at a 5% compound annual growth rate through 2030. - Asia-Pacific is projected to become the largest regional market by 2030 at $143 billion, up from $103 billion in 2025. - The U.S. is expected to remain the largest single-country market, reaching $92 billion by 2030 from $75 billion in 2025.

The details: - Skincare demand is being driven by barrier-repair formulas, clinically backed claims and biotechnology-derived ingredients. - The report says the broader market is split into skincare, haircare, makeup, fragrances and other categories, with those segments projected to add more than $86 billion in value between 2025 and 2030. - Skincare is expected to add $41 billion, haircare $19 billion, makeup $11 billion, fragrances $9 billion and other products $6 billion. - The Asia-Pacific market is expanding on demand for multifunctional and hybrid products, male grooming, local cultural preferences and investment in halal, vegan and sustainable formulations. - U.S. growth is being supported by science-driven and dermatologist-developed products, inclusive and personalized beauty, AI-powered virtual consultations, sustainable packaging and specialty beauty retail. - The report also says personal grooming and appearance trends are adding about 1.6% to annual growth. - Social media and beauty influencers are adding about 1.2% growth per year. - Premium and luxury beauty spending is contributing about 0.9% annually. - In 2025, the top 10 companies together held just 9% of total market revenue, underscoring a fragmented market structure. - L’Oréal S.A. was the largest seller in 2025 with a 1% share. - Other 2025 leaders at about 1% share each included The Procter & Gamble Company, Unilever PLC, The Estée Lauder Companies Inc., Shiseido Company Limited, Kao Corporation, Coty Inc., Chanel S.A., Avon Products Inc. and Mary Kay Inc. - The report highlights professional-grade hair tools as a growth area, including L’Oréal’s January 2024 launch of the Airlight Pro hair dryer, which uses high-speed airflow and infrared light to reduce heat damage and improve energy efficiency. - The market is segmented by product category into mass, premium and professional-grade products, by nature into inorganic and organic products, by distribution into offline and online channels, and by application into men’s and women’s products. - The report also lists major raw material suppliers, distributors and end users across the value chain. - A sample request and the full report are available here and here.

Between the lines: - The forecast points to a market where growth is being pulled by both premiumization and practical functionality, especially products with measurable skincare benefits. - Fragmentation leaves room for smaller brands to compete through niche positioning, while larger players lean on global distribution, innovation and digital tools. - The emphasis on biotech ingredients, personalization and AI suggests beauty is moving further into science-led product development.

What's next: - Competition is likely to intensify around clinically supported skincare, sustainable formulations and personalized digital experiences. - Asia-Pacific growth will likely keep pulling investment toward local manufacturing, omnichannel retail and products tailored to regional preferences. - Brands that can combine performance claims with sustainability and price tier flexibility may be best positioned as the market expands.