Cosmetics Market Share

APAC Market Statistics

Asia Pacific industry is anticipated to hold largest revenue share of 40% by 2037. The market expansion in the region is expected on account of the slated increase in the aging population and improved lifestyle in this region. According to a report by the UN in 2023, Asia Pacific is predicted to be a home for about 60% of the population worldwide.

China's ever-growing middle-class population is estimated to grow the cosmetics industry in this region attributed to the fancy ingredients, and flexible packaging. According to a report in 2024, the middle-income population in China crossed 500 million, which is expected to grow to 60% by 2025.

In Japan, there is a surge in urbanization and increasing demand for anti-aging, dark spot treatment, and anti-wrinkle products. According to the International Trade Administration in 2021, the skincare products in Japanese cosmetics dominated the market revenue share by about 53%.

North American Market Analysis

By 2037, North American cosmetics market is likely to account for around 26% revenue share and will hold for the second position attributed to the increasing adoption of beauty enhancers and skincare products. According to a report in 2021, the overall sales for Loreal cosmetics showed a slated growth of about 25.1%, this made North America their primary growth contributor.

The consumers at the United States are more aware of their cosmetics being chemical-free and sustainable and free from intoxicated chemicals such as mercury, methylene glycol, formaldehyde, and many more, as they can cause severe damage to the skin. Researchers at Research Nester observed that, about 40% of cosmetic consumers demand natural ingredients in their personal and beauty care products. Additionally, about 17% look for recyclable and reusable packaging.

There is an increase in innovations in cosmetic products in Canada according to the demand of consumers. The beauty brand Faces Canada in 2023, launched a nail varnish range that are designed to complement Pride Month spirit using their rainbow hues.