The global cosmetics market is expected to reach around $704 bn by 2032, driven by demand for premium skincare, AI-powered beauty solutions and sustainable products, according to a new analysis by Maximize Market Research.
The report estimates the market was worth $492.18 bn in 2025 and will grow at a compound annual rate of about 5.25% through 2032. Rising beauty awareness, digital transformation and demand for natural and inclusive products are among the key drivers shaping growth.
Skincare remains the dominant category, accounting for nearly half of total revenues in 2025. Strong demand for anti-aging treatments, dermatologist-backed formulations and microbiome-friendly products is supporting expansion across global markets.
Technology is also reshaping the sector. AI-powered diagnostics, personalised product recommendations and virtual try-on tools are gaining traction, with major brands investing heavily in digital engagement to attract consumers seeking tailored beauty routines.
Sustainability continues to play a growing role, with demand rising for vegan formulations, refillable packaging and cruelty-free products. The trend is especially pronounced in Europe, North America and parts of Asia, where consumers are prioritising ethical sourcing and transparency.
Other emerging areas include hybrid skincare-makeup products, inclusive beauty lines catering to diverse skin tones and a fast-growing male grooming segment. Online retail and influencer-led marketing are further accelerating product discovery and adoption.
The report suggests continued innovation in bioengineered ingredients, personalised beauty apps and at-home beauty devices will shape competition as brands seek to differentiate in an increasingly crowded global market.
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