Premium Beauty and Personal Care Products Market

Premium Beauty and Personal Care Products Market Forecast by Product Type (Premium Skincare, Premium Fragrances, Premium Colour Cosmetics, Premium Haircare), by Sales Channel, by Region - Global Insights 2022 to 2032

Analysis of Premium Beauty and Personal Care Products market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Premium Beauty and Personal Care Products Market Outlook (2022-2032)

In FY 2021, the premium beauty and personal care products market reached a valuation of US$ 474.7 Billion, and is likely to register a Y-o-Y growth rate of 4.0% in 2022, closing at US$ 496.63 Billion. Furthermore, across the 2022-2032 period of assessment, growth is expected to accelerate at a whopping 4.62% CAGR, reaching US$ 780.16 Billion.

Report Attribute


Anticipated Base Year Value (2021)

US$ 474.7 Billion

Expected Market Value (2022)

US$ 496.63 Billion

Projected Forecast Value (2032)

US$ 780.16 Billion

Global Growth Rate (2022-2032)

4.62% CAGR

Expected Growth Rate of the US Market (2022-2032)

4.4% CAGR

Anticipated Growth Rate of Chinese Market (2022-2032)

4.2% CAGR

Prominent Premium Beauty and Personal Care Products Service Providers

  • Revlon Inc.
  • Mary Kay
  • Shiseido Company Limited
  • Procter and Gamble Co.
  • Avon Products
  • Beiersdorf AG
  • Kao Corporation
  • Estée Lauder Companies Inc.
  • Loreal Group
  • Unilever

The trend of people taking care of their health and bodies has become more prominent with increasing focus on preventive healthcare in the wake of rising number diseases. Rise in demand for luxury products can directly be linked to the influence of social media and rising interest of people in such products in lieu of following social celebs.

The increasing awareness of customers about their appearance is another factor that is boosting the market expansion. Millennials are increasingly using beauty and personal care items such as skin care, color cosmetics, and hair care as part of their regular grooming routine. The emergence of cosmetics with natural, non-toxic, and organic components has also aided market expansion.

With the growing demand for organic ingredients, consumers across the world are inclined toward organic personal care products, which is expected to drive market growth over the analysis period. In addition, the rising awareness about the harmful effects of chemicals and synthetic products is another factor accelerating the growth of the premium beauty and personal care products market. Most of the consumers tend to buy products with natural or organic labeling, which is driving the market growth.

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2017-2021 Revenue Analysis of Premium Beauty and Personal Care Products Market vs. Growth Outlook 2022-2032

According to market research and competitive intelligence provider Fact.MR, the Premium Beauty and Personal Care Products market experienced noteworthy growth, growing at a value CAGR of 2.4% from 2017 to 2021.

The growing concerns regarding the side effects of chemicals in personal care products, which lead to ailments such as skin irritation, allergies, and skin dullness, have been fueling the demand for natural and organic skincare products. Prolonged use of synthetic cosmetics may cause various health issues, such as irritation, hormonal imbalance, and toxicity.

However, cosmetic products made of organic ingredients, such as plant extracts and natural oils, do not leave any harmful impact on the skin. Natural skincare and cosmetic products that are free from chemicals and transparent about the content have been preferred by consumers, which is likely to drive demand for natural skin care products. This factor has resulted in a shift in preference from synthetic skincare products to organic products among consumers.

To capitalize on this growing interest, the manufacturers in the market have been revamping and expanding their product offerings by introducing a wide range of organic skincare products containing plant-based, clean-label ingredients, with claims such as ‘organic’, ‘vegan’, ‘natural’, ‘chemical-free’ and ‘cruelty-free’, among others. For instance, in April 2022, Shiseido revealed a new skincare brand Ulé, which sources pesticide-free botanicals from local vertical farms.

Thereby, the dissemination of knowledge related to the benefits of natural skincare has led consumers to seek eco-friendly, sustainable, natural skincare/personal care products that offer greater product ingredient transparency. All these factors are anticipated to fuel the growth of the premium beauty and personal care products market during the forecast period.

Key Market Drivers Influencing Premium Beauty and Personal Care Products Industry Expansion

Rising Awareness Regarding Hygiene and Grooming to Foster Market Growth Prospects

Concerns regarding body and well-being are increasing daily due to a busy schedule, changes in routine, eating habits, and fluctuations in the sleep cycle. Beauty products can alter the quality, cleanse, and beautify external body parts and thereby can help individuals to look healthier and more attractive. Therefore, these are some of the factors that resulted in flourishing product demand from younger and aged populations.

Moreover, the increasing trend of using night skin repair creams, sun care products, refreshing fragrances, and hair colors, and others, is also expected to boost the demand of the premium beauty care and personal care products. For instance, according to the 'Sun Safe Behavior Survey 2018' of the Canadian Dermatology Association, the number of individuals using sunscreen all year round increased from 17% in 2015 to 26% in 2018 in Canada.

In addition, manufacturers are focusing on introducing personalization and digitalization in cosmetic products to attract a customer base. For instance, in February 2020, L'Occitane Group launched its new personalized skincare system, 'Duolab,' having a countertop device operated using artificial intelligence. This device can diagnose an individual's skin condition as and when required and then provides a customized face care solution in the form of freshly blended cream. Therefore, increased awareness regarding grooming coupled with technological advancements is expected to support the market growth in the near future.

Changing Lifestyle and Increasing Purchasing Power of Consumers to Propel Market Growth

Factors such as the growing urbanization, an increasing number of working women, changing lifestyles, and increasing awareness regarding hygiene and skin care are expected to augment the growth of the premium beauty and personal care products market during the forecast period. The awareness of hygiene and personal health has led to increased manufacturing of skincare and hair care products, thus driving the demand for personal care ingredients, which in turn is anticipated to fuel the market growth.

A major change in the lifestyle of consumers is witnessed in most of the developing countries, especially in China, Brazil, and India. The development is backed by increasing income and purchasing power. These factors have increased the demand for personal care products in these countries. The awareness about hygiene, beauty, and health has been steadily increasing. For instance, premium skin and hair care products, which were earlier used in the urban areas, are now easily penetrating the rural areas of India and China. This shift in consumption pattern is driving the premium beauty and personal care products market.

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Key Challenges encountered by Premium Beauty and Personal Care Products Industry

Government Regulations against Beauty and Personal Care Products to Impede the Market Prospects

Personal care products are regulated by different government entities globally. These regulatory systems vary in every country; however, they have a common goal of ensuring safety and proper labeling of personal care products. The European Commission Cosmetics Directive (ECCD) and other state government agencies have set regulations on the manufacturing and use of personal care products. Regulations set by the China Food and Drugs Administration (CFDA) do not allow the use of new unregistered ingredients.

This restricts the use of new ingredients globally, thus hindering the development of premium beauty and personal care products. These stringent regulations delay or prevent the launch of new products, increase the prices of any new product introduced in the market, and may lead to product recalls. Therefore, the implementation of new regulations and modifications in the existing regulations negatively affect the growth of the market.

Harmful Effects of Certain Inorganic Compounds to Limit the Market Growth

Potential health hazards of certain inorganic compounds that are used in beauty and personal care products, is a major challenge for the growth of the premium beauty and personal care products market. For instance, polyfluoroalkyl substances (PFAS), which are a persistent class of chemicals and are highly toxic, are added to cosmetics to increase their durability and water resistance.

As such, the need for global regulations, such as the regulation EC 1223/2009 for the European Union (EU) and the Cosmetic Directive (ACD) for the Association of South East Asian Nations (ASEAN), arose. These regulations are put in place to help ensure that cosmetic products are meeting all the necessary health and safety regulations by placing prohibitions on specific ingredients and are following specification and labelling requirements.

Comparative View of Adjacent Premium Beauty and Personal Care Products Markets

Premium Beauty and Personal Care Products Market :


Premium Beauty and Personal Care Products Market

CAGR (2022-2032)


Market Value (2032)

US$ 780.16 Billion

Growth Factor

Growing health concerns is one of the major factors that is driving market growth, as is the expansion of e-commerce through the infiltration of the internet, which has created international reach and allows consumers to choose from a variety of options, among other factors driving the market growth.


Due to the development of various e-commerce companies, major vendors in this industry are choosing to sell through online platforms, in order to secure a more diverse customer base, as it allows them to advertise their products with large discounts and offers to entice consumers.

Hair Care Market :


Hair Care Market

CAGR (2022-2032)


Market Value (2032)

US$ 140.49 Billion

Growth Factor

Increasing hair related issues such as hair greying, dandruff, and hair loss are expected to fuel the growth of the hair care market in the forthcoming years.


The increase in shifting towards organic and herbal by consumers, due to increasing awareness regarding the adverse effects of chemicals used on health and the environment, is anticipated to fuel the market growth.

Skin Care Market :


Skin Care Market

CAGR (2022-2032)


Market Value (2032)

US$ 181.13 Million

Growth Factor

Increasing awareness of personal grooming among all age groups is one of the major factors that is expected to propel the growth of the skin care market during the forecast period.


Increasing demand for sustainable products is expected to create lucrative opportunities for the market growth over the analysis period.

Region-wise Analysis

How will the Growth of Premium Beauty and Personal Care Products Market grow across the U.S?

Increased Demand for Luxury and Premium Products to Broaden Market Growth Prospects in the Country

As per Fact.MR, the US Premium Beauty and Personal Care Products Market is slated to flourish at a CAGR of 4.4% until 2032. The premium beauty and personal care products market in the US has witnessed positive growth, attributed to the higher spending power of the populace, coupled with increased demand for luxury and premium products.

Additionally, an increasing number of beauty product stores in the country is another major factor that is flourishing the market's growth during the forecast period. For instance, in February 2020, Sephora, one of the largest cosmetic chains in the U.S., announced its expansion plans, including opening about 100 new stores across the North American region 2020.

Factors such as the demand for premium beauty and personal care products is also expected to increase the market growth, as the nation sees a rise in the prevalence of skin diseases. Additionally, changing trends of beauty and to look young and delay the visible aging signs are fueling demand for premium products that promise to do these in a very effective way. The U.S. will by far remain the largest market in the North American region for premium beauty and personal care products.

How will Germany Perform in the Global Premium Beauty and Personal Care Products Industry Landscape?

Advent of New Beauty and Personal Care Products in Germany to Boost the Market Growth

According to Fact.MR’s projections, the Premium Beauty and Personal Care Products Market in Germany is forecast to expand at a 4.3% value CAGR from 2022 to 2032. The premium beauty and personal care products market size in Germany is expected to see substantial increase as new product launches and increasing demand aids market potential over the decade.

The Germany’s market is characterized by leading players in the beauty & personal care industry, including Beiersdorf AG, and others. In addition, factors such as an increased number of beauty salons and a rising number of millennials and generation Z in the country are expected to propel the demand for various cosmetic products.

For instance, according to Annual Report 2018-2019 of The German Cosmetic, Toiletry, Perfumery and Detergent Association, between the years 2013 to 2018, the skin & face care products market witnessed an average growth of 2.7% per year, and it was about 4.1% per year for decorative cosmetics market in Germany.

Why is China Offering Increasing Opportunities for Manufacturers of Premium Beauty and Personal Care Products?

Increase in Number of Working Women in China to Boost the Market Growth

As per Fact.MR, the premium beauty and personal care products market in China is slated to flourish at a CAGR of 4.2% until 2032. Demand for premium beauty and personal care products in China is seeing a major boost and is driven by factors such as rising popularity of premium products, increasing focus on skincare, rising disposable income of the middle-class population, and presence of large market players in China.

Moreover, increasing urbanization and standard of living, and an increasing number of working women are other factors that are expected to augment the growth of the premium beauty and personal care products in the country.

Country-wise Forecast CAGRs for the Premium Beauty and Personal Care Products Market

Country CAGR











Category-wise Insights

Will Premium Skincare Segment remain Dominant in the Product Type Category?

High Demand for Premium Skincare to Enhance Growth Prospects

By product type, demand for premium skincare segment is likely to accelerate the fastest, documenting a value CAGR worth 4.5% from 2022 to 2032, according to Fact.MR.

In Skincare, the consumers prefer products such as face creams, sunscreens, and body lotions to reduce acne scars, freckles, age spots, and discoloration. High demand for skin brightening products is expected to further fuel the segment’s growth. In addition, rising awareness and willingness of consumers to spend more on premium beauty products is boosting the demand for skincare products.

According to the ‘Consumer Survey on Cosmetic Dermatologic Procedures 2018’ conducted by the American Society for Dermatologic Surgery (ASDS), about 80% of consumers spend more than USD 100 per month on skincare products in the United States.

Which is the Most Sought-after Sales Channel Category?

E-Commerce Segment to Dominate the Premium Beauty and Personal Care Products Market

According to projections published by Fact.MR, by Sales channel, the eCommerce segment is forecast to register a whopping 4.3% value CAGR across the 2022-2032. Increase in popularity of e-Commerce, especially with the onset of the COVID-19 pandemic, has largely changed buying and selling trends. The millennial population’s preference towards online purchasing has given impetus to the online sales of numerous products.

Online sales of premium beauty and personal care products have also followed a similar trend, and offers from online retailers have made it very affordable for consumers. Sales through online channels are expected to increase the fastest over the coming ten years. The concentration of premium brands is high in developed economies, such as the U.S., China, Japan, and the U.K. Growing penetration of premium cosmetics in developing countries along with an increasing preference for online shopping is supporting the growth. Multi-brand e-retailers are increasing the sales of premium cosmetics owing to their discounts strategy, home delivery, and easy return policy. The availability of premium, authentic brands, and a variety of products are boosting online sales.

The Start-Up Ecosystem: How key Players are opening Frontiers for Future Growth?

Premium Beauty and Personal Care Products Market players such as Asa Beauty, Nature’s Tattva, Tribe Concepts, mCaffeine, Nykaa, mCaffeine, Vilvah Store, Believe, Plum, Smytten, RENEE Cosmetics, Earth Rhythm, CureSkin, TULA, Jeunesse, Typology, Proven, True Botanicals, Kopari, Minimalist, Tatcha, Sallve, Maude, Hims, Purplle. Mamaearth, Birchbox, Beleza na Web, Function of Beauty, and Harry's, among others, are adopting various marketing strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships and collaboration to identify the interest of potential buyers and create a larger customer base. For instance,

  • Established in 2012, Nykaa is an online retail platform offering multi-category beauty products for men, women, and kids. The products catalog includes makeup, skincare, haircare, fragrance, health supplement, personal care, luxury, etc. It also offers fashion items such as apparel, bags, jewelry, tech gadgets, etc. Users can also get beauty advice, Q&A related to beauty on the platform. The mobile applications are available for Android and iOS users.
  • Founded in 2015, in New York City, Function of Beauty develops personalized hair care products for specific hair profiles and goals. Users need to create their hair profile, choose specific goals, and indicate preferences, post which their algorithm determines a formula for the user's personal shampoo and conditioner.
  • Founded in 2016, Mamaearth is the Internet first brand offering organic beauty care products. The product catalog includes body lotions, hair shampoo, rash cream, body spray, body wash, massage oil, sunscreen lotion, men's grooming products, etc. The company claims the products offered by the company are natural & eco-friendly.

Premium Beauty and Personal Care Products Market- Competitive Landscape

Prominent players in the Premium Beauty and Personal Care Products Industry are taking advantage of the rapidly increasing demand for the Premium Beauty and Personal Care Products in various applications. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale vendors. Some prominent market developments are as follows:

  • In May 2022, Estée Lauder with Shoppers Stop opened an exclusive SS Beauty Store in Mumbai. With this establishment, the two companies have strengthened their partnership in India. The SS beauty store will offer only Estée Lauder brands like MAC Cosmetics, Clinique, Bobbi Brown, Jo Malone, Estee Lauder, Smashbox and Tom Ford.
  • In March 2022, Colgate-Palmolive Company launched a new toothpaste, which is Visible White O2, this is an innovative whitening toothpaste that works from the inside out to lighten the stains. Its advanced formula releases millions of warm oxygen bubbles into the mouth.
  • In January 2022, Procter & Gamble acquired luxury skincare brand Tula, which would bolster the company’s prestige brand portfolio. Tula is a clean skincare brand powered by probiotic extracts and superfoods. As part of the acquisition agreement, P&G Beauty will support the Tula team to drive brand growth and support expansion and innovation.
  • In December 2021, L’Oréal signed an agreement to acquire an American skincare company, Youth to the People. This company is California based Skincare Company.

Key Segments Covered in the Premium Beauty and Personal Care Products Industry Survey

  • By Product Type :

    • Premium Skincare
    • Premium Fragrances
    • Premium Colour Cosmetics
    • Premium Haircare
    • Others
  • By Sales Channel :

    • Hypermarkets/Super Markets
    • Retail Chains
    • e-Commerce
    • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • APEJ
    • Japan
    • Middle East & Africa

- FAQs -

The Premium Beauty and Personal Care Products landscape are slated to reach a valuation of US$ 780.16 Billion by 2032.

The Premium Beauty and Personal Care Products industry is poised to flourish at a 4.62% CAGR during 2022 to 2032.

According to Fact.MR, a CAGR of 2.4% was recorded for the Premium Beauty and Personal Care Products market from 2017-2021.

Premium Skincare Segment is expected to grow the fastest, at a CAGR of 4.5%.

As of 2022, Fact.MR expects the Premium Beauty and Personal Care Products industry to be valued at US$ 496.63 Billion.

Germany is poised to yield a CAGR of 4.3% Billion with respect to Premium Beauty and Personal Care Products in 2032.

By sales channel, the e-commerce Segment is expected to dominate the market, documenting a 4.3% value CAGR.

As per Fact.MR’s projections, the market for Premium Beauty and Personal Care Products in the US will likely expand at a 4.4% CAGR.

As of 2021, the Premium Beauty and Personal Care Products market was valued at US$ 474.7 Billion.

Premium Beauty and Personal Care Products Market

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