The beauty industry is a multi-billion-dollar industry which is known to stay strong even in times of economic strife, and the following top 10 cosmetics companies have been leading the global cosmetics market for decades. Research studies conducted on the cosmetic industry highlight that the cosmetic market fared well even during the Great Recession of 2008. Though consumers tend to be more price conscious during an economic downturn, they do not stop spending on beauty products. Therefore, in today’s environment of rising per capita income, there is immense scope for growth in the beauty business. Cosmetic companies across the globe are thriving on the diversity of products and demographics at their disposal.
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Top 10 Largest Cosmetics Companies in the World for 2019
As one of the largest cosmetics companies and top beauty brands in the world, L’Oréal began its journey in the cosmetic industry more than a century ago in 1909. Today, L’Oreal generates over USD 30 billion in annual beauty product sales. Its product range includes color cosmetics, skincare, hair care, sun care, and fragrances. Its most important brands include L’Oréal Paris, Garnier, Maybelline New York, and SoftSheen. The company also sells luxury brands such as Lancôme, Giorgio Armani, Yves Saint Laurent, and Kiehl’s. It specializes in professional hair care products such as Kérastase, Redken, Matrix, and Pureology and owns beauty product distributors such as The Body Shop.
Unilever is among the largest consumer goods companies in the world. The company has managed to carve a place for itself in the cosmetics industry with popular cosmetics brands such as Axe/Lynx, Dove, Lifebuoy, Pond’s, Close-Up, TRESemmé, Suave, Sunsilk, and Vaseline. In 2017, Unilever announced the creation of a new company, Unilever Cosmetics International, to extend its global portfolio of prestige beauty and fragrance brands.
Estée Lauder is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance, and hair care products. The company holds a diverse portfolio of 25+ brands sold in 150 countries. Since its inception in the 1940s, the company has been leaving an indelible mark on all aspects of the beauty industry. Today, Estée Lauder continues to push boundaries in the global premium cosmetics market, making it one of the world’s most popular cosmetics companies.
Proctor and Gamble
Located in Cincinnati, Ohio, USA, P&G holds a significant position in the skin care and hair care business with several well-known brands including Aussie, Gillette, Head & Shoulders, Herbal Essences, Ivory, Olay, Old Spice, Pantene, Safeguard, Secret, Crest, Oral-B, Scope, Art of Shaving and more. The company offers a wide range of beauty and personal care products for men and women, as well as babies and kids.
Coty is a New York-based company that has built up its beauty business through acquisitions in recent years. The company is a big player in fragrance, professional hair care, and color cosmetics. The company own brands such as adidas, Clairol, CoverGirl, David Beckham, Katy Perry, Max Factor, Rimmel, Sally Hansen and Wella. It also owns luxury brands such as Marc Jacobs, Calvin Klein, Chloé, Gucci, Hugo Boss, and Philosophy.
Shiseido was founded in 1872 in Ginza, Tokyo, as the first Western-style pharmacy in Japan. The name Shiseido incorporates the founder’s desire to discover and create new value, a desire that has endured for over 140 years to build the company’s unique heritage. This Japanese company makes all types of personal care products including skincare, fragrance, hair care, sun care, body care, and makeup. Some of its popular brands include Shiseido, Za, Senka, Anessa, Sea Breeze, Nars, and Bare Essentials.
Beiersdorf has been caring about skin for more than 130 years. The company has a wide range of personal care products including skincare and body care brands. Some of its most important brands include Nivea, Eucerin, Labello, Florena, and La Prairie. The company caters to all sorts of needs and operates across different markets including the mass market, dermocosmetics, and the premium cosmetics market.
Johnson & Johnson
Despite being a pharmaceutical company, J&J has become known for its beauty products across the world. This includes products for baby care, skin care, and oral products. Its most famous brands include Johnson’s Baby, Neutrogena, Aveeno, and Listerine. In fact, several baby products such as oil and shampoo have become synonymous with the name Johnson & Johnson. The company generated revenue of more than USD 76 billion in 2017.
Amore Pacific is a beauty products company based in South Korea. The company launched its cosmetics brand AMOREPACIFIC in 2002. The company focuses primarily on developing natural beauty products and has slowly made a name for itself in the beauty industry, benefiting from the K-beauty trend in recent years. The company is growing at a rapid pace with increasing demand for some of its most popular brands including Sulwhasoo, Laneige, Mamonde, Innisfree, Etude, Lolita Lempicka, and Annick Goutal.
Kao Corporation is listed in the Forbes ranking as a USD 34.4 billion company. The company is headquartered in Japan and sells products in all cosmetic categories including color cosmetics, skincare, facial and body cleansers, and hair care. Popular brands from this company include Bioré, Jergens, John Frieda, and Goldwell.
What’s Next in the Beauty & Personal Care Industry?
Cosmetics brands are embracing new trends, from the development of male personal care and gender-neutral makeup to the introduction of high-tech beauty devices. Over the years, beauty brands large and small have introduced an assortment of high-tech beauty devices. These devices offer consumers new ways to integrate their personal care routines into their homes using technology. 3D scanning technologies can aid in personalized skincare regimens in the home and on the go. For instance, Neutrogena recently revealed the Neutrogena Skin360, a sensor-based skin scanning device with an accompanying app to measure a user’s skin over time.
What are the Top Makeup Products and Makeup Trends?
The latest trend in the cosmetics industry is the use of premium products. The premium cosmetics market is expected to grow to $44.2 billion during 2020-2024. The premium cosmetics segment accounted for more than 23% of the global beauty and personal care market in 2019. According to Technavio’s report, multifunctional cosmetics are set to be a game changer and trendsetter over the next few years. There is an increase in demand for multi-functional premium cosmetics as these products allow consumers to obtain the most value from expensive makeup brands. Moreover, these products are developed by makeup companies keeping in view the increasing need for convenience amidst the busy schedules of the modern consumer. These products offer a rapid solution to the multiple needs of customers while catering to their busy lifestyles.
For the latest insights into the makeup industry please read: How safe is my Makeup?
Cosmetics Industry Market Forecast: Future Trends of the Top Cosmetics Companies
Consumers in the beauty and personal care (BPC) products market are constantly demanding innovative and multifunctional beauty products. Manufacturers seek to cater to this demand and expand their product portfolios with organic and inorganic products. Technavio’s market study identifies the introduction of innovative ingredients and technologies as one of the key trends that will lead to the growth of the probiotic cosmetic products market in the coming years. Our market research analysts estimate that this market will grow steadily at a CAGR of almost 6% by 2024.
Technavio’s market research reports will offer answers to FAQs Regarding the Global Premium Cosmetics Products Market:
- What is the current cosmetics industry market size?
- What are the major challenges in the global premium cosmetics industry market?
- Which countries have the highest cosmetics industry sales?
- Who are the major cosmetics companies in this market?
- What are the cosmetics industry market trends?
Detailed answers can be found this following report: