Beauty Industry Top Statistics

The beauty industry is changing and adapting to new demands after a performance dip in 2020. Beauty influencers, DTC brands, and top industry players are all finding innovative ways to connect with customers. This article covers important beauty industry stats, trends, consumer behavior, eCommerce, and new technologies.

Overall, the future looks bright for the beauty industry. Here are a few eye-opening statistics to get you started:

• The beauty industry generates over in revenue worldwide.

• The men's personal care market is projected to hit $276.9 billion by 2030.

• Skincare is projected to generate up to $177 billion by 2025.

• Beauty companies spent an estimated $7.7 billion on advertising in 2022.

• Cosmetic retailers report $17.09 billion in online sales.

• The beauty industry generates over $100 billion in revenue worldwide

• Overall beauty industry revenue is expected to surpass $120 billion by 2025.

• L'Oréal is the leading beauty products company with over $35 billion in global sales

• American women spend an average of $3,756 per year on beauty products and services

• The men's personal care market is projected to hit $276.9 billion by 2030 (Allied Market Research)

• The skincare industry is worth an estimated $171.7 billion globally (Statista)

• Skincare is the dominant segment of the beauty industry with 42% of the market share (Statista)

• Digital advertising makes up 34.1% of the total ad spend in the beauty industry (Social Samosa)

• 82% of beauty shoppers use Instagram at least once per day (Harvard Business School)

• 67% of beauty shoppers say they turn to influencers to discover new products (Harvard Business School)

• Health and beauty eCommerce sales are projected to grow by between 2021 and 2026 (Ascential)

• Despite the rise of online purchasing, 46% of consumers say they prefer to see beauty products in-person (Digital Commerce 360)

• 74% of consumers are more likely to make a purchase from a company that hosts reviews on its website (Nosto)

• Clean beauty products generate $400 million in annual sales (Neilson)

• The EU has banned over 150 times more ingredients than the US for use in beauty products (FDA, European Cosmetic Commission)

• The haircare market is expected to reach $134.3 billion by 2028 (Grand View Research)

  The beauty industry is poised for growth with the rise of online experiences, clean and organic products, and consumer willingness to purchase premium products. Social media's influence and the shift towards online shopping also create opportunities for DTC and eCommerce brands. While established brands will still lead in sales, there is potential for new players to succeed by targeting the right audience.