Jamie Matusow, Editor-in-Chief10.25.23
Welcome to one of our most popular issues of the year, in which our feature story on the Top 20 Global Beauty Companies takes a close look at what these leading brands’ annual net sales and strategic actions indicate as far as industry and consumer trends.
In the midst of global economic and geopolitical stress, many consumers appear to be turning to small luxuries, including cosmetics, to assuage their anxieties. From a vibrant lipstick to a fragrant perfume, beauty aficionados are treating themselves to the feel-good effect a cosmetic can offer. This phenomenon may actually be the strongest in the Prestige market, where Beauty has been the only CPG industry to grow, and luxe fragrances continue to earn record sales.
According to Larissa Jensen, beauty industry advisor at Circana—and a member of Beauty Packaging’s Board of Advisors—all Prestige beauty categories grew by double digits with makeup rising 18%, skincare growing 12%, fragrance increasing 11%, and hair products up 22%. The U.S. Prestige beauty industry sales revenue grew 15%, year over year, to reach $27.1 billion in 2022.
L’Oréal, with both Prestige and Mass brands, maintained its No.1 position at the top of this year’s global Top 20 list at a whopping $40.84 billion.
All combined, our Top 20 delivered an unprecedented $186 billion (U.S.) in annual net sales.
Packaging is keeping pace in attracting sales. According to a recent report from Research and Markets, the cosmetic packaging market’s overall revenue is expected to surpass $46.1 billion in 2023, with strong growth projected through to 2033.
Still, in this rapidly moving world, you never know what will happen next. Uncertainty with China as to cosmetic imports is growing, as you can read in the article from the September 18 edition of the New York Times, titled, “This China Trade War Isn’t About Semiconductors.”
As the beauty industry keeps evolving, we’ve got you covered, with our print and digital editions, newsletters, social media and 24/7 industry coverage online.
Publisher Jay Gorga and I hope to see you soon as we head to the next round of trade shows.
In the midst of global economic and geopolitical stress, many consumers appear to be turning to small luxuries, including cosmetics, to assuage their anxieties. From a vibrant lipstick to a fragrant perfume, beauty aficionados are treating themselves to the feel-good effect a cosmetic can offer. This phenomenon may actually be the strongest in the Prestige market, where Beauty has been the only CPG industry to grow, and luxe fragrances continue to earn record sales.
According to Larissa Jensen, beauty industry advisor at Circana—and a member of Beauty Packaging’s Board of Advisors—all Prestige beauty categories grew by double digits with makeup rising 18%, skincare growing 12%, fragrance increasing 11%, and hair products up 22%. The U.S. Prestige beauty industry sales revenue grew 15%, year over year, to reach $27.1 billion in 2022.
L’Oréal, with both Prestige and Mass brands, maintained its No.1 position at the top of this year’s global Top 20 list at a whopping $40.84 billion.
All combined, our Top 20 delivered an unprecedented $186 billion (U.S.) in annual net sales.
Packaging is keeping pace in attracting sales. According to a recent report from Research and Markets, the cosmetic packaging market’s overall revenue is expected to surpass $46.1 billion in 2023, with strong growth projected through to 2033.
Still, in this rapidly moving world, you never know what will happen next. Uncertainty with China as to cosmetic imports is growing, as you can read in the article from the September 18 edition of the New York Times, titled, “This China Trade War Isn’t About Semiconductors.”
As the beauty industry keeps evolving, we’ve got you covered, with our print and digital editions, newsletters, social media and 24/7 industry coverage online.
Publisher Jay Gorga and I hope to see you soon as we head to the next round of trade shows.
