Are you interested in the most recent statistics and trends in the makeup industry?
Do you know that the beauty industry generates billions of dollars in revenue annually and is highly competitive and innovative.
In this article, we will look at amazing makeup statistics. From market share, trends to preferences, cruelty-free makeup, and more.
NB: This statistics is sponsored by Hollywood Mirrors, the #1 maker of hollywood dressing table mirrors in UK
Contents
- Makeup Industry Overview
- Current Trends in Makeup
- Market Statistics for Makeup Products
- Influence of Social Media on Makeup
- Evolving Technology in the Makeup Industry
- Rise of Sustainable and Cruelty-Free Makeup
- Demographics and Makeup Preferences
- Special Focus: Bridal and Event Makeup Trends
Top Make-up Statistics
Here are some of the most fascinating and eye-opening makeup facts you should be aware of:
- The worldwide cosmetics market has grown dramatically in recent years, with the industry worth $380.2 billion in 2019 and predicted to reach $463.5 billion by 2027
- Recent years have seen a considerable increase in the popularity of beauty influencers, with 78% of consumers reporting that social media content influences their decisions to buy makeup
- Given that 63% of consumers are more inclined to purchase a product if a celebrity recommends it, celebrity endorsements are essential to the success of makeup brand
- With 57% of makeup users reporting that they are more likely to buy products from brands that prioritize eco-friendly processing, sustainability has emerged as a major concern for consumers
- The market for artificial intelligence (AI) in beauty and cosmetics is expected to increase at a compound annual growth rate (CAGR) of 21.7% from $2.68 billion in 2022 to $3.27 billion in 2023
- Brands are recognizing the need for gender-inclusive beauty products, with 70% of consumers saying they are more likely to purchase from brands that offer inclusive options
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The most often used makeup item overall is mascara, followed by foundation, eye shadow, eyeliner, and lipstick
Makeup Industry Statistics
Let's start with some statistics across the industry:
Current Trends in Makeup
- Men's grooming products are predicted to increase at a rate of 5.23% between 2020 and 2027, reaching a value of $223.2 billion by the end of 2027
- A startling 80% of women and 45% of men use makeup every day, demonstrating how widely cosmetics have become a part of daily life
- Although many people use makeup, 35% of women and 20% of men decide to go makeup-free at least once a week to embrace their natural beauty
- Men's grooming products are getting more popular and sought after. This is a significant trend for anyone interested in cosmetics statistics since it indicates the potential for growth in the male beauty sector
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Market Statistics for Makeup Products
- The Lipstick Market is estimated to be worth about USD 26.44 Bn by 2032, up from USD 13.07 Bn in 2022, with a CAGR of 7.3% from 2023 to 2032. Lip cosmetics such as lipsticks, lip tints, lip balms, and lip varnishes are all part of the lipstick market
- The global cosmetics foundation market is estimated to develop at a 5.5% CAGR from 2022 to 2030, driven by increased demand for long-lasting and natural-looking makeup products
- The Eye Shadow Market was valued at US$ 2.91 billion in 2022, with total revenue expected to expand at a CAGR of 6.8% from 2023 to 2029, reaching almost US$ 4.62 billion
- The mascara market was worth USD 6125.21 million in 2022, and it is predicted to grow at a CAGR of 3.67% during the forecast period, reaching USD 7604.09 million by 2028
- The worldwide cosmetics market has grown dramatically in recent years, with the industry worth $380.2 billion in 2019 and predicted to reach $463.5 billion by 2027
- The value of the global cosmetics market has increased in recent years and is likely to continue expanding in the future. By 2026, the market was expected to be valued at approximately 131 billion US dollars
- By 2025, the global market for vegan cosmetics is expected to reach $20.8 billion
- As of 2021, North Asia made up 35 percent of the global cosmetic market, followed by North America with 26 percent
Influence of Social Media on Makeup
- 45% of consumers use social media to find inspiration for new cosmetic products. Nearly 60% of teenagers follow their preferred beauty brands on social media. Before making a purchase, 62% of millennials research cosmetic products on social media
- Recent years have seen a rise in the popularity of beauty influencers, with 78% of customers saying that social media content affects their decisions to purchase makeup
- One-third of beauty product shoppers communicate with brands on social media. Marketing emails have seen success, with a solid 11.5% open rate
- According to Google's research, YouTube is the most popular source of beauty content among women aged 18 to 54.
- Instagram is used by 82% of beauty shoppers at least once every day
Evolving Technology in the Makeup Industry
- The market is also dynamic it utilizes algorithmic procedures, machine learning, and artificial intelligence to deliver more customer-centric experiences
- The advent of beauty technology has resulted in a more personalized shopping experience, from digital skin analysis to foundation that matches your skin tone
- The market for artificial intelligence (AI) in beauty and cosmetics is expected to increase at a compound annual growth rate (CAGR) of 21.7% from $2.68 billion in 2022 to $3.27 billion in 2023
Rise of Sustainable and Cruelty-Free Makeup
- The global natural and organic beauty market is expected to exceed $22 billion by 2024
- Cruelty-free beauty and personal care products showed an increase of 27% in sales
- Phthalates-free beauty and personal care products showed an increase of 11% in sales
- The demand for plastic-free beauty products increased by 18% from 2021 to 2022
- The “clean” beauty market was valued at $6.5 billion in 2021
Demographics and Makeup Preferences
- Brands are recognizing the need for gender-inclusive beauty products, with 70% of consumers saying they are more likely to purchase from brands that offer inclusive options
- Women say they wear makeup largely to improve their appearance. Women in Generation Z and Millennials utilize makeup to increase their confidence. Across decades, about 30% of women wear makeup because it makes them happy
- Lipstick is a popular beauty product, with 75% of women and 40% of men using it every day to impart color and definition to their lips
- 57% of global cosmetics buyers are between the ages of 18 and 34
- Millennials accounted for the highest share of worldwide beauty product shoppers (36 percent) in the third quarter of 2022. Gen Z customers followed, with 35% purchasing beauty products online
- The largest market for beauty and personal care products is in North Asia. In 2021, North Asia made up over one-third of the market. China has risen to become the industry leader in this region
- North America makes ups around 26% of the market. While Europe makes up 22%
Special Focus: Bridal and Event Makeup Trends
- The most often used makeup item overall is mascara, followed by foundation, eye shadow, eyeliner, and lipstick
- The job future for cosmetologists is promising, with opportunities predicted to rise at a faster-than-average rate of up to 19% by 2030, according to the United States Bureau of Labor Statistics
- The total demand for makeup artists in the United States was forecast to rise 12.5% between 2016 and 2026
- The perfect wedding makeup that will keep the bride and her bridal party looking picture-perfect all day (and all night) is one element of glitz that almost every bride desires. Because of this, many women employ many bridal hair and makeup artists to enhance the appearance of their whole bridal party. Bridal makeup artists will be in great demand in the future due to this trend
Conclusion
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