Annual growth of the global cosmetics market

The global cosmetics market has shown steady growth over the past decade, with a few fluctuations along the way.

According to Statista data released in March 2025, annual growth ranged from 3.9% in 2015 to a peak of 8% in 2021 and 2023.

The only major slump occurred in 2020, when the market shrank by 8%, likely due to the COVID-19 pandemic’s economic disruption.

Recovery was strong, however, with an 8% rebound in 2021 followed by continued growth.

The market recorded a 4.5% increase in 2024, signaling continued consumer interest in beauty and personal care products.

The industry has benefited from rising global demand, product innovation, influencer marketing, and expanding middle-class income.