As consumer enthusiasm for “self-investment” continued to rise in the post-epidemic era, the global cosmetics market rebounded strongly. According to the latest industry report, the total market size in 2025 was US$ 67.7 billion, a significant recovery from the 2020 low-epidemic period of about US$ 450 billion, with a complex annual growth rate of 7.3 per cent (CAGR).
McKinsey reports that this rebound stems from multiple factors: the pursuit of “functional beauty” by the Z generation and the Millennium generation (60 per cent of the consumer group) has contributed to a 20 per cent surge in sales of high-end skin and organic products, while Latin America and the Asia-Pacific region have contributed 45 per cent of global growth, with annual growth rates of 12 per cent in China and 15 per cent in India. In contrast, the growth in mature markets in Europe and the United States slowed to 4 per cent, but high-end brand penetration increased by 10 per cent. The low epidemic had caused the market to shrink by 15 per cent in 2020, but a significant rebound in 2025 (cumulative growth of 50 per cent) had benefited from the restoration of the supply chain and the recovery of consumer confidence. The report emphasizes that beauty has become a “consumptive necessity” rather than a “luxury item” and that per capita expenditure has risen from $85 to $110 before the outbreak. In 2025, O’Lea was on the top of the billboard of the make-up giants, proud of all the men with a sales volume of $44.53 billion, with a market share of 6.6 per cent, and its brands of Lancone and Saint Laurent contributing 30 per cent of the increase. By contrast, Unilever ranked second at $18 billion, relying mainly on public brands like Dove and Axe to secure low- and middle-end markets, but the lag in the high-end transition led to a slight decrease of 0.5 per cent.
Yaslande was the third largest out of an estimated $16.4 billion, benefiting from the expansion of Asian markets, with its La Mer high-end skin liner sales increasing by 18 per cent each year. The Procter (P&G) followed with $14.4 billion in revenue, and the Olay and Pantene series drove double-wheel growth in skin and hair protection. With about $10 billion in the top five, the local brand advantage of Japan, combined with the global layout of Clé de Peau Beauté, helped to increase the ring by 12 per cent. Surgicals run at a scale of $18.3 billion, representing 42 per cent, far exceeding the sum of hair (22 per cent) and makeup (17 per cent). This “skin heat” stems from consumer demand for “anti-age” and “barrier repair” and is expected to increase by 25 per cent in high-end fine and facial sales by 2025. In contrast, the size of the care market, which is about $149 billion, is affected by economic uncertainty and consumers prefer “multifunctional” products to be integrated, with growth rates of only 3 per cent. While only 17 per cent (approximately $115 billion) of the makeup was made, the “immediate satisfaction” class, such as lips and multicoloured cheeks, rebounded strongly and was expected to increase by 8 per cent in the second half of the year, benefiting from the live KOL feed. Overall, the atmosphere and personal care sub-contributions account for the remaining 19 per cent, with sustainable packaging demand driving an increase of 10 per cent.
Electrician channels are becoming the core engine of cosmetic change. From 2021 to 2026, online sales are expected to increase from approximately $200 billion to $358.4 billion, and CAGR to 12 per cent, or 52 per cent of the total market. McKinsey predicts that by 2030, online will account for one third of the world ‘ s makeup sales, with the mobile-end App and AR tools contributing 40 per cent of the transformation. Not only did the makeup rebound in 2025 boost the supply chain (e.g. a 15 per cent increase in the procurement of raw materials) but it also generated more than 5 million jobs, mainly in the areas of digital marketing and R&D. Looking ahead, the global make-up market is shifting from “quantitative expansion” to “value innovation”, and the combination of individualization and power suppliers could drive up to $800 billion by 2026.