In this article, we will discuss the 20 Biggest Cosmetics Brands in the World. You can skip our detailed analysis of the global cosmetics market, beauty-meets-sustainability, and cosmetic companies going green and innovative to go directly to the 5 Biggest Cosmetics Brands in the World.
Who wouldn’t desire to radiate beauty and maintain impeccable cleanliness? Cosmetics encompass a wide range of beauty and personal care products that are specifically designed for skin cleansing and beautification. The U.S. cosmetics market size is estimated at $87.70 billion as of 2022 and is predicted to reach around USD 150.50 billion by 2032, flourishing at a CAGR of 5.60% from 2023 to 2032 as per Precedence Research.
Global Cosmetics Market:
The FDA, which oversees cosmetic regulations in the US, describes cosmetics as goods that are “intended to be applied to the human body for cleansing, beautifying, promoting attractiveness, or altering the appearance without affecting the body’s structure or functions.” This wide definition encompasses any substance intended to serve as a component of a cosmetic product. The FDA specifically excludes soap from this category.
Recent years have seen strong growth in the global cosmetics market size valued at $299.77 billion in 2022. With a market share of 37.55% in 2022, Asia-Pacific was the dominant region worldwide. Growing consumer awareness of grooming, health, and hygiene and the adoption of sustainable cosmetics are the main growth drivers of this sector. After a strong rebound from the COVID-19 pandemic’s peak, the beauty market is anticipated to reach from $313.22 billion in 2023 to $417.24 billion by 2030, at a CAGR of 4.2%. The primary factors propelling this predicted market’s growth, as per Fortune Business Insights, are the worldwide population’s growing awareness of the significance of beauty and well-being. These products have the power to enhance a person’s overall appearance. Such beauty items have been manufactured under the direction of a handful of conglomerates that provide an extensive variety of skincare, hair care, and lip care products, all of which are crucial to meeting a client’s particular cosmetic needs. In addition, customers are being drawn to the increasing array of anti-aging product launches, the emergence of innovative and efficient packaging designs, and small, portable containers. Manufacturers are concentrating on creating a broad range of products that can meet the distinctive requirements of every person.
Beauty Meets Sustainability:
The cosmetics industry is undergoing a profound transformation. The notion of sustainable beauty is rapidly gaining traction, fueled by the aspiration for products that not only enhance our appearance but also contribute positively to the well-being of our planet. This remarkable movement is reshaping the beauty industry, questioning conventional practices, and igniting a surge of creativity and ingenuity. From the utilization of eco-friendly ingredients to the adoption of sustainable packaging and the emergence of consumer trends, sustainable beauty is leading the charge towards a more environmentally conscious future.
The vegan cosmetics market, estimated to be worth $17.39 billion globally in 2022, is expected to rise at an exciting rate and reach $24 billion by 2028, as per Research and Markets. Europe is expected to be valued at $2.2 billion by 2028, making it a crucial geographic region for this market. Hence, consumers are actively looking for cosmetic products that are vegan, cruelty-free, or composed of natural materials. With Green Beauty, consumers can use their purchases to demonstrate their commitment to sustainability and ethics.
Cosmetic companies going green and innovative:
Wasteful packaging is the biggest challenge faced by the cosmetics industry. The British Beauty Council revealed that every year, the cosmetics business creates at least 120 billion packaging pieces. You can see the extent of the environmental difficulties this causes, considering that 95% of cosmetic packaging is thrown away.
The Estée Lauder Companies Inc. (NYSE:EL), a global cosmetics American brand, has taken a step towards boosting its commitment to sustainable packaging in 2023 by teaming with SK Chemicals, one of the world’s leading manufacturers of chemical and life science products.
As stated by the latter company, advanced recycling “is considered important technology for the advancement of packaging-to-packaging recycling, helping solve plastic waste issues in a circular and innovative way.” The Estée Lauder Companies Inc. (NYSE:EL) announced several ambitious targets for sustainability in 2021. Two of these objectives were to reduce the amount of virgin petroleum plastic used in packaging to 50% or less by 2030 and to incorporate 25% post-consumer recycled (PCR) materials into the packaging by 2025. The Estée Lauder Companies Inc. (NYSE:EL) hopes to accomplish the aforementioned goals with the assistance of SK Chemicals.
With a focus on packaging, forestry, water, and climate change, The Procter & Gamble Company (NYSE:PG) a globally renowned US brand, is dedicated to making a positive difference in our homes, communities, and the environment. The Procter & Gamble Company (NYSE:PG) ‘s goal is to create products and innovations that, when combined, provide sustainable, unbeatable supremacy. According to The Procter & Gamble Company (NYSE:PG) ‘s Annual Citizenship Report 2022, the company, by 2040, aims to attain net zero greenhouse gas (GHG) emissions throughout its supply chain, from raw materials to retailers.
In another instance in 2023, while discussing how international companies are changing their duties to address the problem of plastic waste with Forbes, The Procter & Gamble Company (NYSE:PG) Chief Sustainability Officer stated,
“Today, sustainability is fully embedded into P&G’s integrated growth model, business strategy, innovations, and operations. We are setting a new standard, one where consumers’ sustainability expectations are considered from the very start of the innovation journey and embedded across all vectors of superiority. An example: with our Oral-B Clic toothbrush, you can get an exceptional plaque removal and reuse 80% of the brush by replacing the brush head and reusing the handle.”
With that said, here are the 20 Biggest Cosmetics Brands in the World.
Maen Zayyad / Shutterstock.com
Methodology:
We have picked the 20 Biggest Cosmetics Brands in the World based on their annual revenue for 2022. For private companies on our list, we estimated their revenues by comparing them with public companies of the same size and in the same industry. It is pertinent to note that we have taken into account conglomerates, which although are not pure-play companies and don’t make the bulk of their revenue from cosmetics, still have a significant impact on this industry.
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20 Biggest Cosmetics Brands in the World
20. L’occtaine
2022 Revenue: $1.92 billion
Founded in 1976, L’OCCITANE Group is a renowned French manufacturer and retailer of premium products with an emphasis on wellness and natural beauty. Together with a global network of over 3,000 retail locations in 90 countries, the L’OCCITANE Group is made up of eight of the top-quality natural beauty brands: L’occtaine En Provence, Elemis, Sol De Janeiro, Melvita, Erborian, Lime Life, Grown Alchemist, and L’occtaine AU Bresil.
Specifically, L’Occitane is a luxurious beauty brand celebrated for its high-quality products, all-natural ingredients, and exquisite packaging. This brand offers some of the most luxurious and super moisturizing French hand creams available. Thus, this brand grew to become one of the biggest cosmetics brands in the world.
19. Mary Kay Inc.
2022 Revenue: ~ $2.7 billion
Mary Kay Inc., a privately owned multi-level marketing business based in Texas, was started by Mary Kay Ash in 1963. According to Euromonitor International, Mary Kay Inc., the well-known beauty brand and multinational entrepreneurship firm, is the top direct-selling brand of color cosmetics and skincare products worldwide.
Throughout the world, millions of independent beauty consultants sell Mary Kay products in almost 40 nations. Hence, this company is expanding significantly and reaching more than 20 new international markets to become one of the most famous cosmetics brands on the globe.
18. AMOREPACIFIC
2022 Revenue: 3.10 billion
Created in 1976, Amorepacific is a South Korean public company that ranks among the largest beauty companies globally, with an annual revenue of $3.10 billion in 2022. More than 20 advanced daily care beauty brands, including Amore Pacific, Primera, Goutal Paris, Hanyul, Sulwhasoo, Mamonde, Innisfree, Laneige, Sienu, Etude House, Hera, IOPE, and Lirikos, are distributed by this company. In recent years, Amorepacific has been growing in popularity worldwide and has grabbed consumers’ attention mainly due to its innovative digital marketing and online channel portfolio. Among the 100 largest luxury brands worldwide by sales, Deloitte ranked Amorepacific 19th in January 2023.
17. Puig
2022 Revenue: $3.24 billion
The Spanish beauty and fashion conglomerate Puig was established in Barcelona, Catalonia, Spain, in 1914 by Antonio Puig Castelló. This family-owned business employs over 4,472 individuals worldwide and offers its products in 150 countries, of which 26 are physically present. This conglomerate’s portfolio includes renowned brands like Carolina Herrera, Rabanne, Jean Paul Gaultier, Dries Van Noten, Nina Ricci, Byredo, Penhaligon’s, L’Artisan Parfumeur, Kama Ayurveda, Loto del Sur, Charlotte Tilbury, Uriage, and Apivita.
To bolster its position in the luxury skincare sector and reach its stated sales target of $4.85 billion by 2025, Puig recently acquired the undisclosed majority of German premium skincare brand Dr. Barbara Sturm.
16. Coty Inc. (NYSE:COTY)
2022 Revenue: $5.30 billion
Coty Inc. (NYSE:COTY) is one of the top-notch multinational beauty companies with French and American roots that produces and distributes skincare, color cosmetics, and beauty items. This company is divided into three business segments: skin and body care, color cosmetics, and fragrances. The names that fall in the fragrances category include fashion designer labels, lifestyle brands, and brands connected to celebrities like Kylie Jenner. Products for coloring the lips, eyes, nails, and face are available under the Color Cosmetics section. Among the skin and body care brands are TJoy, Adidas, Lancaster, and Philosophy. With its headquarters located in New York, NY, Coty Inc. (NYSE:COTY) was established by Francois Coty in 1904. Since then, it has grown in the global cosmetics market primarily due to its creative marketing techniques and e-commerce operations.
15. LG
2022 Revenue: $5.40 billion
With $5.40 billion in revenue, the South Korean business LG, which was established in 1958, is among the largest beauty brands globally. Major brands, including The History of Whoo, CNP, O Hui, Belif, and Beyond, are part of LG’s cosmetics, hair care, and skincare collections. The Crème Shop, a line of vegan cosmetics that LG launched in 2021, has been successful despite the unstable global economy. As per the company’s 2022 semi-annual report on DART, the Financial Supervisory Service’s electronic disclosure board, LG Electronics is considering the possibility of releasing cosmetic products this year in line with the release of a new model of its skincare device under the in-house home beauty brand Pra. L in the first half of 2024.
14. Shiseido
2022 Revenue: $7.15 billion
Shiseido initially opened its doors in Ginza, Tokyo, in 1872. The family-owned business, which began as the first Western-style drugstore in Japan, has grown into a global powerhouse in the beauty industry, with operations in almost 120 countries and regions and an annual revenue of $7.15 billion. To boost its future growth, this Japan-based company plans to invest in online platforms and high-end skin beauty products. Prestige, fragrance, cosmetics, personal care, and professional range are its five main brand categories. To develop a cutting-edge D2C model and enhance its e-commerce platform, Shiseido and Tencent (a tech company) inked a three-year global strategic agreement in 2022. Hence, Shiseido is one of the number one beauty brands in the world.
13. Natura & Co
2022 Revenue: $7.34 billion
Avon, Natura, The Body Shop, and Aesop are all part of the global, purpose-driven, multi-channel, multi-brand cosmetics conglomerate known as Natura & Co. The group’s four businesses are dedicated to creating beneficial effects on the environment, society, and economy. Natura, a multinational company based in Brazil that was founded in 1969, is one of the market leaders in direct sales for cosmetics and personal care products. Anita Roddick launched the international cosmetics business — The Body Shop in Brighton, England, in 1976 — to change the world for the better. In 1987, Australian cosmetic brand Aesop was founded to produce an exceptional line of skin, hair, and body care products. Lastly, for 136 years, Avon has stood for women by providing innovative, high-end products to them.
12. Bath & Body Works, Inc. (NYSE:BBWI)
2022 Revenue: $7.90 billion
One of the leading cosmetic companies in the United States, Bath & Body Works, Inc. (NYSE:BBWI) was established in 1990 and offers an array of products, such as candles, hand sanitizers, liquid hand soaps, body creams, lotions, and diffusers for the house. Tropidelic, Waikiki Beach Coconut, and Pink Pineapple Sunrise are among the newest offerings. The secret to Bath & Body Works, Inc. (NYSE:BBWI)’s success is its ability to creatively reimagine a single fragrance in a variety of ways to draw in more consumers.
It was a smart move for Bath & Body Works, Inc. (NYSE:BBWI) to formally split from Victoria’s Secret in 2021 and launch as a standalone brand. In 2022, overall revenue climbed from $6.43 billion to $7.90 billion, a 22% increase from 2021. Even though the pandemic had an impact on the company’s overall growth, it nevertheless managed to flourish through digital platforms and develop the buy-online-pick-up-in-store model, or BOPIS, which bolstered the company’s online visibility and grew its customer base.
11. Beiersdorf AG
2022 Revenue: $9.50 billion
Founded in 1882, the German multinational firm Beiersdorf AG is a well-known beauty business with projected sales of $9.5 billion in 2022. Nestle, La Prairie, 8×4, Labello, Eucerin, Aquaphor, Florena, SlekMaestro, Atrix, Gammon, Hidrofugal, and Coppertone are some of the well-known brands it possesses.
Sales for the corporation under the La Prairie brand exceeded projections in the year following the pandemic. In December 2022, Beiersdorf AG acquired a majority stake in S-Biomedic NV, a Belgium-based life science company, and intends to enhance its expertise in acne therapy by using this acquisition strategy.
10. Kao
2022 Revenue: $10.40 billion
Founded in 1887, Kao is one of the beauty industry powerhouses, with an emphasis on Japanese cosmetics. Kao operates in two main segments: chemical goods and consumer products. Some of the company’s most well-known brands are Kanebo, Sofina iP, Molton Brown, RMK, Kate, Suqqu, Asience, Bioré, Cape, Blauné, Guhl, Jergens, Liese, Essential, John Frieda, Kms, Merit, Rerise, Segreta, My Kirei, Success, Goldwell, and Oribe. Innovative products like Goldwell Rainbow Dye, Sensai Contouring Lipstick, Sensai Absolute Silk Illuminative Cream, and Allie Chrono Beauty Line have also been introduced. Kao is also the owner of the prestigious Japanese company SENSAI.
9. Chanel
2022 Revenue: ~$17.20 billion
In 1910, Coco Chanel founded the luxury French fashion label Chanel in Paris. Since 2018, this company has been privately owned by the Wertheimer family with its headquarters in London. Chanel, which specializes in ostentatious makeup, accessories, and women’s ready-to-wear, licenses its name and branding to Luxottica for eyewear. Chanel’s “Coco Mademoiselle” perfume is renowned around the world for its alluring citrus aroma that lingers for days.
8. The Estée Lauder Companies Inc. (NYSE:EL)
2022 Revenue: $17.74 billion
Founded in 1946, the United States-based Estée Lauder Companies Inc. (NYSE:EL) is a world-renowned manufacturer, marketer, and retailer of high-quality skincare, makeup, fragrance, and hair care products. Being one of the number 1 makeup brands, Estee Lauder also serves as a global custodian of 25 premium and prestige brands like DKNY, M·A·C, La Mer, Bobbi Brown, Aveda, Jo Malone London, Smashbox, Michael Kors, Darphin Paris, Tom Ford Beauty, Ermenegildo Zegna, AERIN, Bumble and bumble, Le Labo, Glamglow Kilian Paris, Too Faced, Dr.Jart, The Ordinary, and NIOD. Hence, Estée Lauder Companies Inc. (NYSE:EL is one of the 20 biggest cosmetics brands in the world in 2024.
7. Colgate-Palmolive Company (NYSE:CL)
2022 Revenue: $17.97 billion
New York City’s Manhattan serves as the headquarters of the global American consumer goods firm Colgate-Palmolive Company (NYSE:CL). The company’s areas of expertise are home, health care, personal care, and veterinary product manufacturing, distribution, and provision. Among the brands owned by Colgate-Palmolive are Eltamd Skincare, Filorga, Lady Speed Stick, Colgate, and Palmolive. This company is widely known for promoting sustainability.
6. Henkel
2022 Revenue: $22.10 billion
With its headquarters located in Düsseldorf, Germany, Henkel AG & Co., also referred to as Henkel, is a worldwide chemical and consumer goods company. The two main categories in the company’s portfolio are home care, and hair care, and laundry. Among other prominent brand names, Henkel’s top consumer brands in North America are Schwarzkopf, Snuggle, Joico, and Dial. One of the biggest cosmetics companies in the world, the latter offers a wide selection of goods to customers all over the world. Henkel is reshaping the markets of the future through digitalization: new business and collaboration models, the development of distinctive customer experiences, and the smart application of data and technology.
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Disclosure: None. 20 Biggest Cosmetics Brands in the World is originally published on Insider Monkey.