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30 Noteworthy Beauty Industry Statistics for 2024

Posted on | by Dunja Radonic

During recessions, there’s a phenomenon known as the ‘lipstick effect’. It refers to people occasionally buying smaller treats like lipstick instead of splurging on bigger and more expensive items. This theory is based on the idea that consumers would always find the means to purchase luxury goods regardless of the economic situation.

But due to face masks, even lipstick sales took a plunge. Luckily, our need for beauty and health products remains strong. So, when in 2021, the restrictions relaxed a bit, customers started investing in their new and improved self-care routines.

Read our beauty industry statistics to find out the newest trends and developments in the sector.

Facts About the Beauty Industry (Editor’s Choice)

  • The UK beauty industry is valued at £12.14 billion in 2022.
  • The 2022 global beauty industry market size is £395.7 billion.
  • Ecommerce will account for 25.4% of the global beauty and personal care market sales in 2022.
  • The global fragrance industry will be worth $47.9 billion in 2022.
  • The global hair care market will be worth $97.38 billion in 2022.
  • The global skincare market size is estimated at £107.46 billion in 2022.
  • The UK organic cosmetics market size is expected to grow to £339 million by 2025.
  • Globally, waterless cosmetics sales are expected to grow at a 13.3% rate between 2021 and 2031.

Beauty Industry Statistics for the UK

1. The UK beauty industry is valued at £12.14 billion in 2022.

(CTPA, Statista)

The cosmetics industry in the UK is the third-largest in Western Europe. Statistics show that the UK, along with Germany and France, is among the biggest cosmetics markets.

2. Cosmetics industry statistics reveal the UK skincare market size will be worth £3.064 billion in 2022.

(Statista, Premium Beauty News)

Beauty industry statistics for the UK show that the market’s largest segment is facial care, estimated at £2.166 billion in 2022. It has gained even more attention since the beginning of the pandemic, as consumers focused more on self-care. Namely, 30% of customers started using moisturiser more often in 2020.

3. The UK natural beauty market is expected to reach £208.6 million in 2022.

(Statista, Mordor Intelligence)

Natural cosmetics industry statistics show that the market is expected to keep growing at a 7.51% annual rate between 2022 and 2026. The products are gaining popularity due to shoppers’ increased concern with certain ingredients’ environmental and health effects.

While 34% of customers prefer organic products, 44% buy them occasionally, with their choices differing from product to product.

4. The UK beauty industry loses £2.9 billion a year by ignoring Black, Asian, and multi-ethnic consumers’ needs.

(Professional Beauty)

According to The Black Pound Report 2022: A Study of the Multi-Ethnic Consumer, 59% of Black, Asian and multi-ethnic customers report they’re more likely to buy brands with inclusive product ranges. However, they also report that there still aren’t enough options available.

5. 73.9% of UK households bought Colgate products.

(Statista)

Health and beauty industry statistics for the UK show Colgate was the brand with the highest penetration rate in the country and the world in 2020 when the last research was done. It was followed by Nivea at 61.4%, and Dove, with 57.6% of UK households.

6. Last year, the most popular health and beauty brand in the UK was Dettol.

(Statista)

Beauty industry statistics for 2021 show in the UK, the hygiene brand Dettol is the most popular choice, with 84% of respondents having a favourable opinion of its products. Oral-B, Colgate, and Boots are also among the most commonly chosen brands.

Global Beauty Industry Statistics for 2021

7. The 2022 global beauty industry market size is £395.7 billion.

(Statista)

This means that the average person will spend £51.98 on cosmetics and personal care this year. When it comes to the industry’s future, stats show the beauty industry’s worth is expected to grow by 3.76% per year between 2022 and 2026.

8. Ecommerce will account for 25.4% of the global beauty and personal care market sales in 2022.

(Statista, L’Oreal)

Beauty industry statistics show that online sales increased by around 40% globally in 2020. The trend continued in 2021, and with the UK being the one of the largest ecommerce markets in the world, it’s not surprising that 40.5% of all beauty and personal care sales in the UK are expected to happen online. According to the latest ecommerce data, the rise has been evident in all industries.

9. The global fragrance industry will be worth $47.9 billion in 2022.

(Statista)

Perfume industry statistics show that the fragrance market is constantly growing. In 2021, its worth was estimated at $46.5 billion. The sector also includes deodorant and other fragrances.

10. The prestige cosmetics and fragrances market will reach £57.4 billion in 2022.

(Statista)

The prestige fragrance and cosmetic industry growth is estimated at 5.18% annually between 2022 and 2025. Because of the increasing need for self-care in times of crisis, luxury shopping has evolved.

Beauty Industry Statistics - Woman hair

Hair Care Industry Statistics

11. The global hair care market will be worth $97.38 billion in 2022.

(Statista)

In 2021, the hair care market was estimated at $94.92 billion. Although it experienced a slight dip that year, it’s expected to reach $105.14 billion by 2028. When it comes to Europe, cosmetics industry statistics predict its hair care market will reach $21.59 billion this year.

12. The global shampoo market will reach $39.2 billion by 2027.

(Globe Newswire, Grand View Research)

According to the latest available stats, the global shampoo market was worth $35.1 billion (2020). Until 2027, the market is expected to grow at a CAGR of 1.6%. The global improvement in living conditions will drive the demand for the product in general. Similarly, solid shampoo will become more popular due to its reduced environmental impact.

13. The dry shampoo market is estimated at approximately $2.58 billion in 2022.

(Statista)

Dry shampoo is increasing in popularity due to people’s lifestyles becoming more hectic and the rising demand for waterless products. Consequently, the market is estimated to reach $3.5 billion by 2027.

14. Hair colour industry statistics show that colourants make up 19.94% of the hair care industry.

(Fortune Business Insights, Mordor Intelligence)

After shampoo, hair dyes are the next largest segment in the hair care industry. As more young people dye their hair, the global market is expected to keep growing. In Europe, the industry is projected to expand at a 4.1% rate, as almost 70% of women and 10% of men use such products.

15. Black consumers spend 13 times more on hair extensions than White consumers.

(Forbes)

Black beauty industry statistics also show that Black consumers spend much more on hair care in general than Whites. However, the market’s response is still underwhelming, as customers are still not finding the right product.

Skincare Industry Statistics

16. Skincare products accounted for 42% of the cosmetic market in 2020.

(L’Oreal)

Skincare products have the largest market share of all beauty industry segments. It’s followed by hair care at 22% and makeup at 16%. Hygiene and fragrances come next, with equal shares of 10%.

17. The global skincare market size is estimated at £107.46 billion in 2022.

(Statista)

Skincare market statistics show that the market is expected to grow at a 4.18% rate, especially as more and more younger consumers use such products. It will further focus more on natural products, underskin care and skinimalism.

18. In 2022, the largest global skincare market is the US.

(Statista)

This year, the US will bring in £14.03 billion in revenue, accounting for 24% of the world’s skincare market. It is closely followed by Japan, with £13.56 billion. China comes in third with £11.69 billion.

Beauty Industry Statistics - Makeup brushes

Makeup Industry Statistics

19. The global makeup market was estimated at $42.7 billion in 2020.

(Business Wire)

As the makeup industry recovers after the pandemic in 2021, it’s expected to keep growing by 2026. A beauty industry report states that foundation is the most popular product.

20. Makeup sales fell by 40% in 2020 compared to 2019.

(NPD)

Makeup sales statistics portray a sharp drop in 2020. For example, lip makeup sales fell by a dramatic 50%. Shoppers had fewer reasons to purchase such products, with stay-at-home orders and focusing on skincare rather than makeup.

21. The global lips cosmetic market revenue will reach £13.79 billion in 2022.

(Statista)

Beauty industry statistics for 2022 show that the average spend per capita on lip cosmetics in 2022 will be £1.81. In the UK, the average person will spend £4.14 on lip cosmetics. At the same time the lip cosmetics market in the UK will reach £283 million.

22. Sales of makeup products returned to 78% of their 2019 levels in May 2021.

(NPD)

In 2020, 60% of makeup users said they were wearing less makeup than before the pandemic. As the situation gradually improved, with Covid-19 affecting the beauty industry less in 2021, the market recovered somewhat. Interestingly enough, only 61% of consumers say they would return to their pre-pandemic makeup-wearing habits once the crisis is over.

Beauty Advertising Statistics

23. The beauty industry’s digital advertising spending increased by 2.8% in 2020.

(Brand Equity)

On average, beauty brands spent 34.1% of their budgets on digital advertising in 2020. That is significantly less than the 53.1% typical for the market in general. Beauty brands spent 42.2% of their budgets on television advertising or 1.6 times more than brands in general.

A beauty industry analysis reports that 18.3% of advertising budgets went to magazines, which is 4.3 times more compared to other brands. All in all, beauty brands are expected to speed up their implementation of digital advertising. In 2020, they made a notable 2.8% step towards this goal.

24. In 2022, the beauty industry will spend $7.7 billion on advertising.

(Statista)

Each year, the beauty industry spends more on advertising. For comparison, in 2021, the beauty and personal luxury industry spent around $7.5 billion.

New Trends in the Cosmetic Industry

25. In 2020, the most popular brands in Europe were Nivea, Colgate, and Dove.

(Statista)

Consumer reach points determine the number of households that bought the product and the frequency of purchase. Health and beauty industry statistics show that Nivea is immensely popular among European consumers.

The latest stats show the German brand reached 546 million consumers. Colgate followed with 465 million and Dove, with 305 million.

26. 51% of the beauty brands will implement digital strategies to adapt to the new ‘phygital’ reality.

(Euromonitor, L’Oreal, Olay)

The most frequently mentioned technical innovation is the virtual try-on. The pandemic encouraged retailers to introduce it, and 20% of US retailers currently wish to implement it. Before the pandemic, only 8% of retailers said the same.
Another example of beauty industry business trends we can expect soon is Olay’s Skin Advisor App. The AI-powered app helps consumers understand their skin type and potential problem areas and suggests solutions.

27. Consumers increasingly seek out sustainable beauty products.

(PowerReviews)

This is true across all generations, but more so among the younger consumer bases. A noteworthy 86% of Gen Z and 80% of Millennials list sustainability as a significant shopping factor.

28. Globally, waterless cosmetics sales are expected to grow at a 13.3% rate between 2021 and 2031.

(Future Market Insights)

Hair and beauty industry statistics for the UK show that waterless cosmetics are here to stay. The sales of products, such as shampoo bars and balms, are expected to grow at a 4.6% rate. The appeal of waterless cosmetics is that they’re more concentrated, last longer, and often don’t require plastic or any packaging at all.

29. 45% of consumers find new beauty purchase inspiration on social media.

(PowerReviews)

The younger the base, the more influential social media becomes. 52% of Millennials and 63% of Gen Z use social media to discover new products. Beauty industry statistics show 56% of consumers say the influencers they follow affect their choice.

The presence of beauty brands on social media is essential. For example, people in the UK spend around 53 minutes a day just on Instagram.

30. Yuya is the most popular beauty content creator on YouTube, with 24.8 million subscribers.

(Statista, L’Oreal)

Just in 2018, beauty content on YouTube had a mesmerising 169 billion views. Social media is proving to be essential and not only for marketing purposes. Beauty tutorials and live streaming played a decisive role in preserving the beauty industry during the pandemic.

For example, 70% of millennials watched an online tutorial last year, paving the way for social commerce to rule the beauty industry’s future.

Conclusion

Beauty industry statistics show that 2021 was a year of recovery and adaptation for the industry. The changes that accelerated last year are expected to take root and become more ingrained in our beauty shopping habits.

For example, social commerce is already indispensable, and beauty brands embrace AI, virtual try-on, and ecommerce more than ever. At the same time, environmental concerns are driving new trends, and the industry in 2022 is trying to adapt to a new reality that is more digital, more sustainable and more transparent.

FAQ

How much is the beauty industry worth in the UK?

While different sources estimate the size of the UK beauty industry differently, the latest figures estimate the industry value at £12.14 billion in 2022.

How much is the beauty industry worth worldwide in 2022?

In 2022, the global beauty industry market size is expected to reach £395.7 billion. Similarly, by 2025, it’s projected to grow to £565.78 ($758.4 billion).

How much did the beauty industry make in 2020?

According to estimates, the beauty industry made $569.4 billion in 2020.

How much money does the beauty industry spend on advertising?

According to beauty industry statistics, the industry will spend $7.7 billion on advertising in 2022, around $200 million more than last year.

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