The world of beauty in 2022

After the reopening in 2021 of most brick-and-mortar stores and growth in e-commerce, the beauty market again proved resilient in the face of the crisis, as reflected in sales volumes, which stood up well to rising prices. Apart from North Asia, which was impacted by the public health situation in China, the market grew significantly in all geographic Zones, with double-digit growth in SAPMENA – SSA and Latin America.
Despite successive crises, the global cosmetics market demonstrated its robustness and resilience in the face of widespread economic slowdown. The market is constantly innovating and adapting to the new expectations of consumers, who are looking not only for quality, performance and innovation but also meaning in what they buy, including in beauty.

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  • +6% Global beauty market growth in 2022
  • €250 bn Estimated market of more than 250 billion euros

Estimated growth of the worldwide beauty market
over 10 years

(in %)

Year Value
2013 +4%
2014 +4%
2015 +4%
2016 +4%
2017 +5%
2018 +6%
2019 +5%
2020 -8%
2021 +8%
2022 ≈6%

Breakdown of the market by geographic zone

(in %)

Geographic Zone Value
North America 28%
Latin America 8%
North Asia 32%
Europe 22%

Breakdown of the market by business segment

(in %)

Catégorie Value
Skincare 41%
Haircare 22%
Makeup 16%
Fragrances 11%
Hygiene products 10%

Main worldwide players in sales

(in billions of USD)

Acteurs mondiaux Value
L’Oréal 38.2
Unilever 23.8
Estée Lauder 17.7
Procter & Gamble 14.6
Shiseido 9.2
LVMH 7.8

Main beauty market
growth drivers

  • Categories

    fragrances, skincare, makeup

  • Sectors

    consumer market, dermocosmetics

  • Zones

    Europe, emerging markets

  • Distribution channel

    brick-and-mortar stores

Spotlight on the dermocosmetics market

Beauty, health and well-being are closely related and tend towards a common goal: looking after yourself, preventing or supporting the treatment of certain conditions, and maintaining a sense of wellbeing on a daily basis. The health crisis accelerated this phenomenon, making consumers more aware of the importance of self-care.

Main dermocosmetics categories

  • Facial skincare

  • Facial cleansers

  • Body care

  • Sun protection

  • 8% of the beauty market

Growth of the dermocosmetics market
compared with the global beauty market

(in %)

Year Dermocosmetics market Global beauty market
2018 +6% +6%
2019 +6% +5%
2020 +2% -8%
2021 +13% +8%
2022 +9%  ≈6%

Success of L’Oréal dermocosmetics brands

The strength of the L’Oréal Dermatological Beauty Division model lies in medical recommendations, which take advantage of the closer relationship with healthcare professionals. The focus and complementarity of the Division’s brand portfolio is a perfect match for growing consumer interest in health, safety and efficacy. Its products help treat skin conditions and meet the expectations of consumers who consult aesthetics professionals.

  • La Roche Posay - Logo
  • CeraVe - Logo
  • SkinCeuticals - Logo
  • Vichy - Logo
  • Skinbetter Science - Logo
  • Decléor - Logo
  • Sanoflore - Logo

Focus on the fragrance market

With consumer numbers on the rise, fragrance was the fastest growing beauty category in 2022. The market owes its increasing popularity to an aspiration for affordable luxury that has led to a boom in ultra-premium fragrances. Growth is also driven by new consumers, as seen in Asia and SAPMENA, who recently started making fragrances part of their beauty routines. The increased availability of luxury fragrances in various parts of the world thanks to e-commerce has significantly spurred sales in this category.

Growth of the fragrance market

(in %)

Year Value
2018 +5%
2019 +4%
2020 -18%
2021 +21%
2022 +15%

In 2021-2022, 5% of new fragrance launches worldwide offered a refill format. The first refillable fragrance appeared in 1992: Angel by Thierry Mugler. With this visionary concept, embracing a more sustainable approach to beauty, the brand was ahead of its time, already advocating for sustainable development, waste reduction and personalised customer service. In the face of growing climate issues, the ability to refill a fragrance becomes an eco-action. Prada Paradoxe, L’Oréal Luxe’s major launch for 2022, reflects the Group’s sustainability ambition.

In 2022, L’Oréal Luxe consolidated its position as the global leader in fine fragrances, thanks to the performance of its global mainstays and launches that had an impressive start, heralding future success.

  • Yves Saint Laurent - Logo
  • Giorgio Armani - Logo
  • Lancôme - Logo
  • Mugler - Logo
  • Ralph Lauren - Logo
  • Valentino - Logo
  • Prada - Logo
  • Viktor&Rolf - Logo
  • Maison Margiela - Logo
  • Azzaro - Logo
  • Atelier Cologne - Logo
  • Cacharel - Logo
  • Diesel - Logo

Ecommerce in the beauty market

  • +7 global growth in online cosmetics sales
  • 27% proportion of e-commerce in the beauty market, compared with 25% in 2021

The phenomenon of mass social commerce adoption

Social commerce is a massive social media trend that is revolutionising online buying practices. Consumers prefer to buy products and services recommended by people they trust: they are looking for an inspiring, informative, secure buyer experience. Social commerce fulfils these needs by offering a better buying experience that fosters discovery, personalisation and trust thanks to the expertise and authenticity of individual influencers. Micro-influencers, who are seen as more transparent and sincere about the brands they promote, are becoming the ambassadors of choice.

According to a study carried out in January 2022, the global social commerce industry is estimated at USD 492 billion and is set to grow three times faster than traditional e-commerce, reaching USD 1.2 trillion by 2025. Growth will likely be driven mainly by generations Y and Z, who will account for 62% of global social commerce spending by 2025.

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Gamification and the metaverse push the boundaries of beauty

Gaming is one of the fastest growing media sectors, with a huge number of beauty product consumers incorporating makeup into their streaming activities. The convergence between gaming and beauty provides creative new marketing opportunities, enabling brands to craft innovative and engaging promotional campaigns to reach new audiences.

Immersive experiences in the metaverse provide a tremendous opportunity for beauty brands to strengthen their relationship with connected consumers as well as their loyalty, by bringing the real and digital worlds closer together. The booming metaverse market is set to reach USD 800 billion by 2024. Consumers can, for example, express their creativity and character with a personalised avatar offering an infinite variety of looks covering makeup, hair and even fragrance, defining beauty from a new angle – that of Web 4.0.

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Beauty and wellness

Beauty and wellness often go hand-in-hand, and both sectors are changing to accommodate new consumer needs. The wellness market is a highly innovative sector that is drawing more and more players, particularly in the areas of personalised nutrition, vitamins and beauty.

At a time when consumers are increasingly online and looking for greater authenticity and personalisation, sustainable development and inclusion are becoming priorities for beauty and wellness companies. The inner/outer beauty trend continues to grow and consumers are ever more inclined to choose solutions with a focus on health, wellness and naturalness. 51% of people surveyed by Euromonitor said beauty means “looking healthy”, followed by “feeling good about yourself” and “having self-confidence”.

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