Europe Cosmetics Market By Category (Skin and sun care products, Hair care products, Deodorants and fragrances, Makeup and color cosmetics) , By Gender (Men, Women, Unisex) By Distribution Channel (Hypermarkets/Supermarkets, Specialty Stores, Pharmacies, Online Sales Channel, Others) : Opportunity Analysis and Industry Forecast, 2023-2032
Europe Cosmetics Market
The Europe cosmetics market was valued at $92.2 billion in 2022 and is projected to reach $182.4 billion by 2032, growing at a CAGR of 6.9% from 2023 to 2032.
Cosmetics are commodities that cleanse, protect, and improve the appearance of human bodies. They include products such as skin creams, lotions, perfumes, makeup elements, lip balms, and sunscreens. Cosmetics are formulated into different forms, including solutions, creams, sticks, powders, gels, and aerosols.
The dominance of the region in exporting personal care and beauty products across the globe is a key driver of the Europe cosmetics market. In addition, the critical role of cosmetics in enhancing the annual economy of Europe fuels the need for innovation in products and augments the development of the market. Moreover, the implementation of stringent regulations pertaining to the incorporation of chemicals & ingredients in cosmetics and their marketing ensures a high quality of products, propelling the market growth significantly. A key trend gaining prominence in the market is the inclusion of conventional ingredients into innovative formulations. This trend is being driven by increase in consumer inclination toward traditional materials with significant healing and medicinal properties.
However, the time-consuming and expensive process of compliance with stringent standards such as the European Union’s Cosmetics Regulation (EC) No 1223/2009 imposes regulatory barriers for several new players, hindering the expansion of the market. Moreover, the highly volatile economic situation of Europe restrains the market growth significantly. On the contrary, with rising demand for natural ingredients in products, the Europe cosmetics market is projected to witness several lucrative opportunities in the future. According to the European Centre for the Promotion of Imports from developing countries, Europe is the largest importer of selected natural ingredients such as vegetable oils and essential oils. The region accounted for around 43% of the total global imports of natural ingredients in 2022, presenting remunerative opportunities for cosmetics manufacturers.
Segment ReviewThe Europe cosmetics market is segmented into category, gender, distribution channel, and region. On the basis of category, the market is divided into skin & sun care products, hair care products, deodorants & fragrances, and makeup & color cosmetics. Depending on gender, it is classified into men, women, and unisex. As per distribution channel, it is categorized into hypermarkets/supermarkets, specialty stores, pharmacies, online sales channel, and others. Country wise, it is analyzed across UK, Germany, France, Russia, Italy, Spain, and Rest of Europe.
Key FindingsOn the basis of category, the skincare & suncare segment dominated the market in 2022.
Depending on gender, the women segment held a high share of the market in 2022.
As per distribution channel, the hypermarkets/supermarkets segment acquired a high stake in the market in 2022.
Country wise, the UK accounted was the highest revenue generator in 2022.
Competition AnalysisThe leading players operating in the Europe cosmetics market include Unilever PLC, Kao Corporation, Shiseido Company, Limited, The Procter & Gamble Company, Oriflame Cosmetics Global SA, Avon Products, Inc., The Estee Lauder Companies Inc., Revlon, Inc., LOREAL S.A., and Skinfood Co., Ltd. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy CategorySkin and sun care products
Hair care products
Deodorants and fragrances
Makeup and color cosmetics
By GenderMen
Women
Unisex
By Distribution ChannelHypermarkets/Supermarkets
Specialty Stores
Pharmacies
Online Sales Channel
Others
By CountryUK
Germany
France
Russia
Italy
Spain
Rest Of Europe
Key Market PlayersUnilever PLC
Kao Corporation
Shiseido Company, Limited
The Procter & Gamble Company
Oriflame Cosmetics Global SA
Avon Products, Inc
The Estee Lauder Companies Inc.
Revlon, Inc.
LOREAL S.A.
Skinfood Co., Ltd.