Beauty and Personal Care Products Market Size

Beauty and Personal Care Products Market size was over USD 560.4 billion in 2023 and is expected to reach USD 1318.2 billion by the end of 2036, witnessing around 6.8% CAGR during the forecast period i.e., between 2024-2036. In 2024, the industry size of beauty and personal care products is evaluated at USD 598.6 billion.

The increasing prevalence of hair-related disorders such as alopecia, psoriasis, and dandruff is a key factor boosting the beauty and personal care product market growth. The rising trend towards self-care is further anticipated to fuel the sales of personal care and cosmetic products across the world throughout the forecasted period.

According to an article published by the National Library of Medicine (2023) alopecia areata, an immune medication condition affects around 2% of the global population. The same source also reveals that the prevalence of alopecia is high in kids compared to adults. Stress and anxiety are some of the major reasons leading to alopecia areata growth.

Alopecia areata or hair loss is more common in females. According to an article published by Harvard Medical School in April 2024, around one-third of women suffer from hair loss in their lifetime. Thus, all the above statistics aid in understanding the rising prevalence of alopecia and the increasing importance of hair care, which subsequently are driving the sales of hair care products.