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The Ever-Growing Success of the Global Cosmetic Industry

CEO Tinh Phung
Introduction The global cosmetic industry is experiencing remarkable growth, with a projected value of USD 429.8 billion by 2022. This represents an estimated year-over-year increase of 5.5%. As the beauty trends continue to soar, the...

Introduction

The global cosmetic industry is experiencing remarkable growth, with a projected value of USD 429.8 billion by 2022. This represents an estimated year-over-year increase of 5.5%. As the beauty trends continue to soar, the top cosmetic manufacturers in the world are driving this rapid expansion. Leading the way are Johnson & Johnson, Procter & Gamble, and Unilever, which have consistently generated substantial revenue over the years. Within the top 10 cosmetic manufacturers, four are based in the USA, illustrating the dominance of US companies in the global cosmetics market.

Global Cosmetic Industry Trends and Stats

Let's take a closer look at some key statistics and trends shaping the global cosmetic industry:

  • Skincare accounts for 40% of the global cosmetics market, highlighting the importance of maintaining healthy skin.
  • Johnson & Johnson, with revenues exceeding USD 82.06 billion in 2020, holds the top spot as the largest cosmetics company in the world.
  • The overall beauty industry is valued at a staggering $532 billion.
  • With millennials leading the way, targeted pricing strategies have become essential for reaching new demographics and moving more cosmetic products.
  • The clean beauty movement is gaining momentum, with sustainability becoming a significant concern for environmentally conscious consumers.
  • The demand for organic makeup is on the rise, with 21% of Americans opting for natural and chemical-free products.
  • CBD-infused skincare products are also gaining popularity, with 48% of millennials expressing interest in purchasing such items.
  • Consumers are increasingly seeking authenticity, with 51% of them desiring un-retouched images in cosmetic advertisements.
  • The cosmetics industry provides employment opportunities to almost 1 million people in service segments.
  • Skincare generates 60% of the total profit in the beauty industry, emphasizing the significance of skincare products.
  • Facial skin masks hold a significant share of the Korean cosmetics market, accounting for half of the total market.
  • Fragrance products enjoy widespread popularity among American women, with 4 out of 5 women regularly using fragrance products.

Top 10 Largest Cosmetic Manufacturers in the World by Revenue 2020

Now, let's explore the top 10 cosmetic manufacturers in the world, ranked by revenue, and delve into their key details:

1. Johnson & Johnson

Largest Cosmetic Manufacturers in the World

Johnson & Johnson, an American multinational corporation, holds the distinction of being the world's largest cosmetic manufacturer. Founded in 1886, the company focuses on consumer health, medical devices, and pharmaceuticals. In 2019, Johnson & Johnson generated a staggering USD 82.06 billion in revenue. Their most notable cosmetic products include Neutrogena, Clean & Clear, and Acuvue contact lenses.

2. Procter & Gamble

Procter & Gamble, an American multinational consumer goods corporation established in 1837, takes second place. With a revenue of USD 67.7 billion in 2019, Procter & Gamble specializes in various personal care and health segments. Their extensive product portfolio includes beauty, grooming, healthcare, fabric, home care, and baby, feminine, and family care.

3. Unilever

Unilever, a British-Dutch multinational consumer goods company founded in 1929, secures the third spot. With revenues of USD 58.03 billion in 2019, Unilever excels in cleaning agents, beauty products, personal care products, and several other segments. They own over 400 brands, with 13 of their brands generating over 1 billion euros in sales annually.

4. L’Oréal

L’Oréal, a French personal care company founded in 1909, ranks fourth on our list. Focusing primarily on cosmetics, L’Oréal is considered the largest cosmetics company globally. In 2019, their revenue reached USD 33.34 billion, with their cosmetics segments contributing significantly. L’Oréal offers a wide range of products, including hair color, skincare, sun protection, makeup, perfume, and hair care.

5. Kao Corporation

Kao Corporation, a chemical and cosmetics company based in Tokyo, Japan, holds the fifth position. With revenues of USD 14.7 billion in 2019, Kao Corporation is renowned for owning various notable brands, such as Attack, Ban, and Kanebo. As the largest cosmetic manufacturing company in Japan, Kao Corporation continues to make significant strides in the industry.

6. Estée Lauder

Estée Lauder, an American multinational manufacturer of cosmetics, ranks sixth on our list. Founded in 1946, Estée Lauder is synonymous with prestige skincare, makeup, fragrance, and hair care products. With revenues of USD 13.68 billion in 2019, Estée Lauder owns a diverse portfolio of brands, including Bobbi Brown, MAC Cosmetics, and Darphin.

7. Shiseido

Shiseido, a Japanese multinational personal care company founded in 1872, secures the seventh position. With revenues exceeding USD 9.9 billion, Shiseido specializes in skincare, haircare, cosmetics, and fragrance. Known for its longevity, Shiseido is one of the oldest companies in the world and is the second-largest cosmetic manufacturing company in Japan.

8. Coty, Inc.

Coty, Inc., an American multinational beauty company established in 1904, ranks eighth. With revenues of USD 9.4 billion, Coty, Inc. specializes in cosmetics, fragrances, haircare, and skincare. Notably, they acquired a 51% stake in Kylie Cosmetics, a popular cosmetic brand owned by celebrity Kylie Jenner.

9. Beiersdorf

Beiersdorf AG, a German multinational company founded in 1882, holds the ninth spot. With revenues of USD 8.9 billion, Beiersdorf AG manufactures personal-care products and pressure-sensitive adhesives. Noteworthy brands under Beiersdorf's umbrella include Nivea, Labello, and La Prairie.

10. AmorePacific

Rounding out the top 10 is AmorePacific Group, a South Korean beauty and cosmetics conglomerate. With revenues of USD 5.5 billion, AmorePacific operates over 30 beauty, personal care, and health brands. Their portfolio includes prestigious names like Sulwhasoo, Laneige, Mamonde, and Innisfree.

The Future of the Global Cosmetic Industry

As the global cosmetic industry continues to flourish, it is strategically targeting the millennial demographic. This includes developing sustainable products, embracing transparency in messaging, and learning from key segments worldwide. With the industry becoming increasingly entrepreneurial, high-profile transactions like Coty's stake in Kylie Cosmetics are likely to become more prevalent.

In conclusion, the global cosmetic industry is experiencing exceptional growth, empowered by the top cosmetic manufacturers shaping the market. To stay connected with these industry leaders and explore new opportunities, visit BizVibe today.

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