{"id":1589,"date":"2020-02-27T00:08:10","date_gmt":"2020-02-26T23:08:10","guid":{"rendered":"https:\/\/healthcareers.co\/?p=1589"},"modified":"2024-02-18T13:21:08","modified_gmt":"2024-02-18T12:21:08","slug":"beauty-industry-statistics","status":"publish","type":"post","link":"https:\/\/healthcareers.co\/beauty-industry-statistics\/","title":{"rendered":"38 Awe-Inspiring Beauty Industry Statistics for 2024"},"content":{"rendered":"
[vc_row][vc_column][vc_column_text]Whether you\u2019ve just pronounced your affirmations or corrected your crooked neckline, the mirror always reflects insightful feedback. There\u2019s an immense power attached to being breathtaking. If you\u2019re looking for some of it, these <\/span>beauty industry statistics<\/span> will dazzle you before you even spot the next flaw in your image.\u00a0<\/span><\/p>\n Our looks are an emotional aspect of our being that thrives on community acceptance. New <\/span>beauty trends<\/span> are made every day. In fact, they spin so fast that it makes your latest shopping spree seem pointless. And when you think you\u2019ve played all of your attractiveness cards, there\u2019s a new influencer-driven beauty enhancer which begs to differ.<\/span><\/p>\n Despite the fluctuating market, <\/span>cosmetics brands<\/span> stand tall and successfully absorb the traits of new, emerging beauty trademarks. These <\/span>beauty industry<\/span> figures will show you how being swoon-worthy costs more than just a pretty buck.<\/span><\/p>\n (Zion Market Research)<\/span><\/p>\n The total value of cosmetic products reached $532 billion worldwide in 2017, and is expected to rise by an astounding 60% in the 2020s. Economically, this makes its Compound Annual Growth Rate (CAGR) about 7%, similar to insurance and real-estate industries.<\/span><\/p>\n (Allied Market Research)<\/span><\/p>\n The sales of cosmetic products and the provision of services are influenced by the market\u2019s constantly changing demands. According to recent statistics, <\/span>cosmetic industry trends<\/span> are driven by:<\/span><\/p>\n (Bloomberg)<\/span><\/p>\n Given that almost all of these are intended for single-use, 70% of carbon emissions could be eliminated with refillable cosmetic containers, according to an organization that tracks the environmental impact of packaging.\u00a0<\/span><\/p>\n (Chemist Corner)<\/span><\/p>\n Cosmetic products are developed, produced, and marketed with the purpose to <\/span>enhance or conceal <\/b>a physical trait (decorative cosmetics) or to <\/span>treat and cure<\/b> a skin condition (dermo-cosmetics).\u00a0<\/span><\/p>\n And the tricky part is that the ingredients usually don\u2019t mix. Therefore, the manufacturers use binding agents, stabilizers, or emulsifiers. A beauty product can have from 10 to 100 constituents, and the role of the producer is to combine them in a way that works.<\/span><\/p>\n According to <\/span>skincare industry statistics<\/span>, there are 10 major types of cosmetic products:<\/span><\/p>\n (Statista)<\/span><\/p>\n In 2016, the <\/span>US beauty industry employed<\/span><\/a> about 63,816 people and reported a revenue of $62.46 billion.<\/span><\/p>\n (NY Post)\u00a0<\/span><\/p>\n According to a national survey, which included more than 2000 participants, women spent $57 on anti-aging face products and $58 on makeup treatments, on average. With the additional <\/span>fitness expenses<\/span><\/a>, it adds up to a total of $3,756 spent on beauty per year. Throughout an entire lifetime (ages 18\u201378), a woman spends more than $225,000 on her beauty.<\/span><\/p>\n (Statista)<\/span><\/p>\n The global makeup market is estimated to be worth $84 billion in 2024. The most popular products used to enhance or cover a facial feature are lipsticks, concealers, foundations, bronzers, mascaras, and eyeliners.<\/span><\/p>\n (Avon)<\/span><\/p>\n Avon sells more than two million lipsticks annually, and the most popular shade is Cherry Jubilee. They were the first company to ever introduce the e-commerce concept.<\/span><\/p>\n In the age of <\/span>Cleopatra<\/span>, <\/span>beauty facts<\/span> show that lipsticks were originally made from cochineal, sandalwood or cinnabar, and mixed vax or grease. Their application lasted for weeks.<\/span><\/p>\n (S-Schwartz)<\/span><\/p>\n In the US, more than 33% of the total beauty industry products are used for hair. The shampoo market holds the highest share and is expected to reach $30 billion by 2023. After the US, most hair care products are sold in Japan.<\/span><\/p>\n (FDA, EU Open Data Portal)<\/span><\/p>\n According to <\/span>beauty industry trends<\/span> from <\/span>2019,<\/span> compounds that are proven to impact the skin adversely are listed on the FDA\u2019s restriction list:<\/span><\/p>\n On the other hand, European Cosmetic Commission disallows the use of 1623 substances. This means that the American market offers stronger products that carry a higher risk of skin reactions.<\/span><\/p>\n (Franchise Help)<\/span><\/p>\n In short, hairdressers play the biggest role in appearance business, followed by skincare services (23.7%), such as cosmeticians, consumer cosmetics (14.6%), fragrances and perfumes (9.5%), deodorizing products (8.5%), and oral hygiene (5.6%).<\/span><\/p>\n (Statista)<\/span><\/p>\n The rising awareness about the impact of chemicals on our hair and scalp has changed the way consumers perceive hair products. Both women and men are seeking natural, hypoallergenic hair products. Additionally, <\/span>beauty industry statistics<\/span> from<\/span> 2019<\/span> reveal that hair nutrition is a highly valued aspect of hair care, and that there is a growing demand for vitamin-boosting products.\u00a0<\/span><\/p>\n (PR Newswire)<\/span><\/p>\n In contrast to commercial products, medicinal shampoos provide dermatological benefits for the scalp and hair. This means that they are made without harmful additives, such as sulfates or parabens. Medical shampoos treat severe dandruff, seborrheic dermatitis, psoriasis, hair loss, and dryness.<\/span><\/p>\n (Global News Wire)<\/span><\/p>\n Cosmetic trends<\/span> are rapidly changing. It used to be an occasional spray-on that gets you the individuality edge when attending that special event. Nowadays, however, the perfume industry is more diversified than ever.\u00a0<\/span><\/p>\n In order to attract a more extensive consumer base, perfume manufacturers are going all-in on everyday exotic fragrances. Millennials are depicted as a <\/span>well-groomed generation<\/span><\/a>, whose attractiveness depends on the smell as well as on the looks.<\/span><\/p>\n (Statista, PR Newswire)<\/span><\/p>\n In concurrence with the <\/span>cosmetic trends<\/span> of <\/span>2019<\/span>, <\/span>The Top 10 <\/b>Beauty Industry Market Statistics<\/b><\/h2>\n
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Cosmetic Industry Statistics Worldwide<\/b><\/h2>\n
\n1. By 2024, the global <\/b>beauty industry<\/b> is expected to reach a value of $863 billion.<\/b><\/h3>\n
2. 7 fundamental factors drive the global <\/b>beauty industry<\/b> market.\u00a0<\/b><\/h3>\n
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3. 120 billion cosmetic packagings are produced every year.<\/b><\/h3>\n
4. According to <\/b>cosmetic industry statistics<\/b>, there are 10 types of cosmetic products.<\/b><\/h3>\n
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Beauty Industry Statistics<\/b> in the US<\/b><\/h2>\n
\n5. The US is the biggest <\/b>cosmetic market<\/b> in the world.<\/b><\/h3>\n
6. American women spend a monthly average of $313 on their appearance.<\/b><\/h3>\n
7. Modern<\/b> beauty statistics<\/b> reveal that more than 30% of American women use foundations and concealer makeup.<\/b><\/h3>\n
8. Every 15 seconds, one Avon lipstick is sold in the US.\u00a0<\/b><\/h3>\n
9. The average American spends approximately $89.95 on hair products annually.<\/b><\/h3>\n
10. Only 11 chemical ingredients are FDA-prohibited.<\/b><\/h3>\n
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The <\/b>Beauty Industry Growth Statistics<\/b><\/h2>\n
\n11. Haircare contributes to 24% of the global <\/b>beauty industry<\/b> revenue.<\/b><\/h3>\n
12. The global haircare market is predicted to grow in value to $87 billion in 2023.<\/b><\/h3>\n
13. In 2018, the global medicinal shampoo market was valued at $12 billion.<\/b><\/h3>\n
14. The global perfume market value reached $38.8 in 2018.<\/b><\/h3>\n
15. The US fragrance market is estimated to reach $52.4 billion in market value by 2025.<\/b><\/h3>\n