1.2.4. The beauty market, resilient in a turbulent macroeconomic climate
Important: the competitive positions and market share held by the Group’s Divisions and brands mentioned in this Document are based on studies, panels and polls obtained from specialised organisations and companies, or, in the absence of comprehensive studies, are the result of estimates made by L’Oréal on the basis of available statistical data.
Estimated evolution of worldwide cosmetics market from 2000 to 2022(1)
This graph shows the estimated evolution of worldwide cosmetics market from 2000 to 2022(1).
2000: 5%
2001: 4%
2002: 5%
2003: 4%
2004: 3%
2005: 4%
2006: 5%
2007: 5%
2008: 3%
2009: 1%
2010: 4%
2011: 4%
2012: 5%
2013: 4%
2014: 4%
2015: 4%
2016: 4%
2017: 5%
2018: 6%
2019: 5%
2020: - 8%
2021: 8%
2022: 6%
The cosmetics market remains a supply-led market driven by innovation, where consumers are always on the look-out for quality, performance, visible results, but also for how the products make them feel. The global cosmetics market is a particularly robust market worth more than €250 billion(1), which has demonstrated its strong capacity for resilience in a turbulent geopolitical and economic climate. The cosmetics consumer always looks for quality and puts a premium on trends, new ideas, or leading‑edge technology.
The global estimated cosmetics market in 2022: > €250 billion euros(1)
BY GEOGRAPHIC ZONE
BY PRODUCT CATEGORY
After 2021, a year that saw points of sale reopen almost completely and online sales increase, 2022 was a turbulent year, but one during which the beauty market was able to adapt, reaffirming its sector position as strong and agile in the face of the disruption surrounding it. Beyond North Asia, which was affected by China’s zero-Covid policy, there was significant growth in all Zones, particularly in SAPMENA – SSA and Latin America, which experienced double-digit growth.
The main worldwide players
2021 sales in billions of US $(2)
This graph shows the main worldwide players.
(2021 sales in billions of US $ (2))
L’ORÉAL : 38.2
UNILEVER : 23.8
ESTÉE LAUDER : 17.7
PROCTER & GAMBLE : 14.6
SHISEIDO : 9.2
LVMH : 7.8
NATURA & CO : 7.5
CHANEL : 7.2
BEIERSDORF : 7.0
COTY : 5.0
In 2021, the top ten cosmetics companies generated aggregate sales of $137.96 billion, or 58.6% of the total revenue of WWD Beauty’s top 100.
(1) Source: L’Oréal estimates of the global cosmetics market based on net manufacturer prices. Excluding soap, toothpaste, razors and blades. At constant exchange rates.
(2) Source: Beauty’s top 100, WWD, May 2022, based on 2021 sales.