Personal Care Market

Personal Care Market Size, Share, Trends, Growth, and Industry Analysis, By Product Type (Skin Care Products, Hair Care Products, Oral Care Products, Makeup Products, Fragrances, Bath and Shower Products), By Distribution Channel (Online Retail, and Offline Retail), By End-User (Men, Women, and Unisex/Children), By Formulation (Natural & Organic Products, and Synthetic Products), By Price Range (Premium, Mid-range, and Mass), Regional Analysis and Forecast 2032.

Consumer Goods & Services | October 2024 | Report ID: EMR001024 | Pages: 255

Personal Care Market Trend

Global Personal Care Market size was USD 486.46 billion in 2023 and the market is projected to touch USD 757.27 billion by 2032, at a CAGR of 5.69% during the forecast period.

 

Global Personal Care offers a product line that is encompassed by cosmetics, hair care products, skincare items, oral care products, and fragrances. Personal care products play an important role in daily life for an individual, enabling them to maintain cleanliness while helping improve one's looks, which in turn elevates the confidence and level of self-esteem of that person.

The global personal care market has increased significantly in the last few years due to the increased awareness of health and beauty among consumers. Changes in lifestyles and increased disposable income have raised the demand for personal care products across all age groups. There is innovation in the market as companies introduce new products to cater to different consumer preferences, such as organic and natural ingredients. Sustainability and eco-friendly products are also on the rise, as many consumers seek brands that care about the environment.

 

Personal Care Report Scope and Segmentation.

Report Attribute

Details

Estimated Market Value (2023)

USD 486.46 Billion

Projected Market Value (2032)

USD 757.27 Billion

Base Year

2023

Historical Year

2018-2022

Forecast Years

2024 – 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Based on Product Type, By Distribution Channel, By End-User, By Formulation, By Price Range, & Region.

Segments Covered

By Product Type, By Distribution Channel, By End-User, By Formulation, By Price Range, & By Region.

Forecast Units

Value (USD Million or Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032.

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others.

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Dynamic Insights

Consumer awareness regarding health and wellness is the main driving force for growth, and consumers seek products that impact their skin, hygiene, and wellness positively. A demand for natural and organic personal care products, mainly because of increased awareness in consumers regarding the ingredients they use daily, supports this trend. Brands focusing on clean formulations and sustainable practices get popularity as part of the larger responsible environmental consumption trend.

Other critical dynamics are the influence of e-commerce and digital marketing on consumer buying behaviour. Online shopping is convenient and allows access to large numbers of products, hence making it increasingly easy for consumers to discover and purchase personal care items. Social media is the most significant influencer of consumer buy decisions; hence, beauty and skincare trends mostly arise from online influencers and beauty bloggers. Other demographic forces contributing to shifting preference and the increased expenditure on personal care products include an aging population and urbanization.

 

Drivers Insights

  • Growing Consumer Awareness of Health and Wellness

The demand for personal care products among consumers is driven by awareness of health and wellness around the world. As health consciousness increases, people have been looking for products not only to enhance their appearances but also to improve well-being. Changes like these are leading to an increased demand for skincare and personal hygiene products that carry natural and organic ingredients. This is because consumers have been becoming increasingly concerned with the possible side effects of synthetic chemicals. Brands with clean, safe, and effective formulations have gained popularity as their products contribute positively to consumer health. Trends appear strongest in millennials and Gen Z consumers, who increasingly want to invest in their personal care products in something they feel good about so the market grows strongly.

  • E-commerce and Digital Marketing Expansion

The rapid expansion of e-commerce and digital marketing is another vital driver for the personal care market. Online shopping offers consumers unprecedented convenience, allowing them to explore a vast array of products from the comfort of their homes. The pandemic accelerated this shift, as many consumers turned to online platforms for their shopping needs. Additionally, social media has become a powerful tool for brand promotion and consumer engagement, with beauty influencers playing a significant role in shaping trends and driving product sales. Companies that effectively leverage digital marketing strategies and optimize their online presence can reach a broader audience, enhance customer loyalty, and boost sales.

 

Restraints Insights

  • Intense Competition and Market Saturation

Global competition and market saturation are among the factors observed in the global personal care market. Given the highly competitive nature and saturation level, it has become tougher for companies to differentiate and make their product stand out for consumers to notice it. Aggressive pricing further adds to pressure on profits as most small brands try to compete against established large brand players. As a result, firms will have to innovate incessantly and spend on research and development in order to build unique offerings for the masses. This failure will reflect in reduced market share as well as profitability.

  • Regulatory Challenges

Regulatory challenges are another constraint in the personal care market. The business is highly regulated in terms of safety, labeling, and claims made about the products. These regulations cost a lot of money and time for companies, especially for smaller brands with limited resources. The changing regulations in different places complicate the business landscape since companies need to navigate the different standards for selling elsewhere in the world. The resultant penalties, product recalls, and damage to brand reputation can be the consequences of non-compliance. For this reason, the firms are compelled to focus on being compliant with regulations, at the cost of their operating strengths.

 

Opportunities Insights

  • Rise of Sustainable and Eco-friendly Products

The growing demand for sustainable and eco-friendly products among consumers is thus a significant opportunity for the personal care market. In fact, as environmental concerns increase, consumers are going to look towards brands focusing on sustainability in their production processes and product offerings. This has led to biodegradable packaging, products that are cruelty-free, and formulations that minimize their impact on the environment. Companies embracing sustainability are able to stand out much better in a busy market, attract environmentally conscious consumers, and improve the image of their brand. This is not just about consumerism but a global shift to fight climate change.

 

Segment Analysis

  • By Product Type

The market for personal care is broadly segmented by type of product, including skincare products, hair care products, oral care products, makeup products, fragrances, and bath and shower products. Skincare products have the largest market share in the personal care market. It includes such a diverse array of items as moisturizers, sunscreens, and anti-aging treatments. This is based on consumer growing interest in skin health and beauty. Hair care products, which encompass shampoos, conditioners, and styling products, are in next line as consumers invest in hair health and aesthetics. Oral care products encompass toothpaste and mouthwash and entail daily hygiene products that are increasingly being made with innovative ingredients. Makeup products appeal to both daily and special occasion usage for a wide demographic interested in appearance enhancement. Fragrances, encompassing perfumes and body sprays, are imperative personal expression products and very loyal customers. Lastly, the bath and shower, comprising body wash and scrubs, pertains to personal grooming and to aid individuals in relaxing, which places it in many homes today.

  • By Distribution Channel

Distribution channels in the personal care market are categorized into online and offline retail. The rise of e-commerce has transformed how consumers shop for personal care products, offering convenience and a wider selection at their fingertips. Online platforms allow consumers to access detailed product information, reviews, and promotions, enhancing their shopping experience. Additionally, the growing trend of direct-to-consumer (DTC) brands is gaining traction, enabling companies to build direct relationships with their customers. On the other hand, offline retail remains a crucial distribution channel, with consumers often preferring to see and test products before purchasing. Supermarkets, drugstores, and beauty specialty stores continue to be popular shopping destinations, providing immediate access to personal care items.

  • By End-User

Personal care market is categorized into end-user segments, men, women, and unisex/children. The personal care products, mainly used by women in the course of time, have been developed through the focus of these women on beauty and grooming. The segment contains the diversified line of products suitable for women's needs and contains makeup, skincare, and hair care items. However, the male care market is growing steadily and men are increasingly turning for skincare, haircare, and grooming products, hence changing societal norms and conceptions around masculine self-care. It raises even more targeted masculinity-oriented brands and products, which, however, includes a segment for unisex/children in which the family makes the purchase because it will work for all genders as well as any age bracket and are generally gentle, thus safe for children.

  • By Formulation

The personal care market is segmented, formulary-wise, into natural & organic products and synthetic products. Demand for natural and organic products has increased in recent years as consumers pay more attention to the composition of their personal care items and their health and environmental implications. These products tend to be sustainable and green, appealing to a rapidly growing demographic interested in clean beauty and responsible sourcing. These days, brands that have organic ingredients and do not use hazardous chemicals are becoming more and more popular among the young. Synthetic products, however, have been and up to this day the best-selling formulations in the market that can specifically offer a particular benefit like long results or higher performance. Products like these usually have extensive research and development behind them, which results in innovation that can meet the demand of consumers.

  • By Price Range

The personal care market can be divided between price segments as premium and mass and mid-range items. Premium items are seen to be of luxury range and use good quality active ingredients, rich branding and distinctive formulation which would ensure them their price. Mainly they cater to luxurious buyers who do not compromise with personal care experience while using these premium products, mid-range ones are towards the more massive market sector which would ensure good quality formula at an affordable price scale. They balance price with performance. They appeal to customers looking for reliable products without having to pay a premium. Mass products dominate the market volume. These budget-friendly options are widely available in supermarkets and drugstores, often formulated to meet the minimum needs of consumers, attracting price-sensitive shoppers.

 

Regional Analysis

North America, primarily the United States, dominates the market due to high disposable incomes and a significant focus on personal grooming and beauty. The region experiences high demand for innovative products, especially in skincare and hair care, as consumers increasingly seek premium and organic options. Europe is the next closest, with France and Germany being key players. The European market is one of sustainability and clean beauty, where consumers are more concerned with eco-friendly and natural products, compelling brands to be greener in their practices and formulations.

The personal care market in the Asia-Pacific region is booming with an accelerated rate due to growing urbanization, high disposable incomes, and a significant growing middle class. A tremendous surge in demand is also witnessed in countries such as China, India, and Japan, mainly on personal care products that include skincare and cosmetics products. These factors are driven primarily by the changes in lifestyles and standards of beauty. This region also reflects the growth of men's grooming trends, and its products are thus on a rising curve in terms of offering men's personal care products. Latin America is considered to be one of those landscapes that reflect the changing needs and preferences of society in the region, including an increased desire for beauty and personal care products fuelled by cultural and personalistic influences. The Middle East and Africa is the growth area, mainly due to the growing personal grooming expenses and awareness about personal care products.

 

Competitive Landscape

Major market participants, such as Procter & Gamble, Unilever, L'Oréal, and Estée Lauder, also possess considerable influence due to wide distribution, strong brand, and sound R&D capabilities. They innovated continuously in product creation based on the new formulation techniques, natural sources of ingredients, and practices that affect consumers' requirement patterns and preferences. Their humongous portfolios include a wide variety of categories ranging from skincare, hair care to oral care and cosmetics that ensure they can reach vast cross-sections of the populace.

In addition, smaller independent brands have increasingly focused on niche segments; this especially holds true within the field of natural and organic personal care products. These smaller brands focus their attention to transparency, sustainable sourcing, and other moral considerations with the needs and preferences of health-conscious environmentally aware consumers. The rise of e-commerce has further levelled the playing field, allowing these smaller companies to reach a wider audience and compete more effectively against established brands. Companies are also increasingly collaborating and partnering with each other for enhancing their product offerings as well as market reach.

List of Key Players:

  • Revlon
  • Coty Inc.
  • AVON PRODUCTS, INC
  • L'Oréal S.A.
  • Kao Corporation
  • Procter & Gamble
  • Shiseido
  • Unilever
  • ORIFLAME COSMETICS S.A.
  • Estée Lauder  

 

Recent Developments:

  • In September 2023, L’Oréal Groupe announced a minority investment in Shinehigh Innovation, a cutting-edge biotech firm located in China. This collaboration aims to establish a long-term partnership focused on the joint development of innovative and environmentally sustainable beauty solutions.
  • In April 2023, Pacifica launched a new body care collection called Wake Up Beautiful, which features body products infused with retinoids and mushrooms designed to rejuvenate the skin. This line includes both a body serum and a lotion, all formulated with sustainable and eco-friendly ingredients that enhance skin hydration.
  • In February 2023, Shiseido Co., Ltd. partnered with Shoppers Stop Ltd.'s Global SS Beauty Brands to introduce its makeup line, NARS Cosmetics, to the Indian market. As part of this strategic initiative, plans were made to open 14 stores in New Delhi and Mumbai throughout 2023, with additional promotions of NARS products at Sephora outlets.
  • In April 2024, Nouryon unveiled its new biodegradable personal care technology, Structure® M3 co-surfactant, at the 2024 in-cosmetics Global event in Paris, France. This innovative solution improves the functionality and attractiveness of various personal care formulations and was created in response to the growing consumer demand for more natural and gentle ingredients.

 

Global Personal Care Report Segmentation:

ATTRIBUTE

DETAILS

By Product Type

  • Skin Care Products
  • Hair Care Products
  • Oral Care Products
  • Makeup Products
  • Fragrances
  • Bath and Shower Products

By Distribution Channel

  • Online Retail
  • Offline Retail

By End-User

  • Men
  • Women
  • Unisex/Children

By Formulation

  • Natural & Organic Products
  • Synthetic Products

By Price Range

  • Premium
  • Mid-range
  • Mass

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Personal Care size and forecast: To identify and estimate the market size for global Personal Care market segmented By Product Type, By Distribution Channel, By End-User, By Formulation, By Price Range, and by region. Also, to understand the consumption/ demand created by consumers between 2024 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for global Personal Care
  • Market Influencing Factors: To find out the factors which are affecting the market of global Personal Care among consumers.
  • Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Request For Table of Content

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

Global Personal Care forecast period is 2024 - 2032.
According to global Personal Care research, the market is expected to grow at a CAGR of ~ 5.69% over the next eight years.
The possible segments in global Personal Care are based on By Product Type, By Distribution Channel, By End-User, By Formulation, By Price Range, & by region.
The expected market size for Global Personal Care is USD 757.27 billion in 2032.
The major players in the market are Revlon, Coty Inc., AVON PRODUCTS, INC, L'Oreal S.A., Kao Corporation, Procter & Gamble, Shiseido, Unilever, ORIFLAME COSMETICS S.A., and Estee Lauder.
×

Avail PDF Sample Reports