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Beauty and Wellness Products Market Size, Share & COVID-19 Impact Analysis, By Type (Hair Care Products, Skincare Products, Makeup Products, Food & Nutrition Products, Medicinal Products, and Wellness Products), Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, and Online Channels), and Regional Forecast, 2023-2030

Last Updated :April 01, 2024 | Format: PDF | Report ID: FBI108456



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The global beauty and wellness products market size was valued at USD 1,504.4 billion in 2022 and is projected to grow from USD 1,610.5 billion in 2023 to USD 2,765.8 billion by 2030, exhibiting a CAGR of 8.03% over the forecast period.

Growing social media influence and changing lifestyle and fashion trends have strongly impacted the beauty & wellness products industry. Amongst all, skincare has created a strong alignment with health, therapeutics, and overall wellness. As the perception of beauty has developed over the years, such as looking healthy and building confidence and self-esteem, the “clean” to “conscious” movement in beauty has been reinforced among consumer minds. During the pandemic, even spending more time at home, consumers wanted to take better care of their health and focus on overall well-being. Thus, skincare, haircare, and nutritional, healthy food, along with dietary supplements, remained resilient and even increased in demand during the COVID-19 pandemic. Furthermore, the evolution of digitization, growing influence of social media platforms, rising direct-to-consumer brands' websites, and booming marketplaces consolidate the market expansion.

The beauty, health, and wellness industry is witnessing impressive growth in emerging markets as consumers are increasingly willing to spend on products that benefit and improve their health, fitness, nutrition, appearance, sleep, and overall wellness. The boundaries that previously separated work, home, and self-care have dissolved and merged together to address this significant shift.  In beauty, brands have developed makeup routines imbued with skincare ingredients to care for the skin that are also economical to the middle-class population. Additionally, government initiatives such as 'Atmanirbhar Bharat Abhiyan' and 'Make in India' campaign to support manufacturers in setting up manufacturing facilities in India are further supplementing the Beauty and Wellness Products Market growth. The government is also taking special measures under the Ayushman Bharat program, such as establishing health wellness centers, promoting medical tourism, and exempting yoga businesses from taxes. These health wellness centers provide comprehensive natural medical services, including free medical and diagnostic services. Moreover, the AYUSH Department aims to consolidate alternative health systems by investing in skills development programs, organizing advocacy workshops, and publishing research articles.


COVID-19 Hampered the Sales of Certain Products and Driven Demand for Dietary Supplements

Given the circumstances of working from home, mask-wearing in public places, social distancing, and stay-at-home orders, the consumers admitted less importance and frequency of wearing colored makeup and fragrance. Consequently, the purchasing volume for the same witnessed a declining trend during the pandemic. Nevertheless, eye makeup, including eyeliner, mascara, and eye shadow, still displayed strong growth as eyes can be seen even wearing a mask or attending meetings online.

On the other hand, taking health and good food habits into consideration amidst COVID-19, wellness products, including food & nutrition and dietary supplements, recorded a spike in growth. These changes that took place during those times include increased adherence to a healthy diet, increased home cooking, and increased consumption of healthy-labeled foods and beverages along with organic and natural ingredients/ sources in focus. The focus on adopting a self-care routine and shift towards preventive care are the factors which fueled the adoption of dietary supplements among consumers’ daily habits, strengthening overall demand for beauty & wellness products.


Wellness-related Employee Benefits Are Becoming More Mainstream

As interest in health and wellness swells, there has been an acceleration in wellness-related employee benefits. Wellness perks and enhanced healthcare services are also becoming strong pillars for employers to attract employees. Employers offer healthy food and facilities such as fitness stations or discounts/coupons for gym memberships, boosting wellness market expansion. These employee wellness programs are becoming increasingly popular, with more and more companies executing them as a way to support their workforce.

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Male Grooming and Ageless Beauty Trend to Boost Market Development

Personal care & beauty companies are realigning and adjusting their offerings to accommodate products for the new generation of male consumers, baby boomers, and millennials. Male grooming has seen substantial growth since men are getting better educated in understanding skin concerns and, as a result, using products better suited to their needs. This trend is driven by a combination of aspects, including changing societal norms that encourage men to take care of their appearance and gender neutrality.

Skincare and makeup brands such as Fenty and Milk Makeup, as well as indie startups, including Fluide and Jecca Blac, have ditched gender marketing and opted to package and sell unisex products. Brands including Tom Ford, Gucci, MAC Cosmetics, and Marc Jacobs all have introduced gender-neutral lines across makeup and fragrance. Also, Milk Makeup, among the first cosmetics brands, started marketing to men and non-binary people. The brand enlisted seven models of different genders and sexual orientations to share strong messages regarding their self-identification, attitudes to the world, and makeup in particular. This, in turn, has boosted the overall sales of cosmetics and beauty products among all genders.

Flourishing Beauty & Wellness Industry in Emerging Markets to Drive Market Expansion

High expenditure power owing to growing disposable income in developing countries such as India, Brazil, and others further surged the demand for wellness and beauty products. Also, the pandemic had a widespread impact on consumer preferences and brought consumers closer to the brands by the intervention of digitalization. Artificial Intelligence (AI), Augmented Reality (AR), and Virtual Reality (VR) are among the new-age technologies that have offered digital experiences set in one place for consumers. Also, online payment gateways, wide-ranging product availability, doorstep delivery, and multiple offers and discounts have encouraged consumer segments to spend and purchase these products, thus favoring the market growth.

Cosmetics and wellness products are thriving at a faster pace. There are several cosmetics brands that are emerging, and India is a great example in this instance. The 10 leading cosmetic startups in India, including Purplle, MyGlamm, Sugar Cosmetics, Nykaa, Elle18, Kay Beauty, Color Bar, Coloressence, Blue Heaven Cosmetics, and Lotus Herbals, are turning their heads with growth and development in a short span of time. These brands are pushing people to try beauty products from their platform with the help of social media.


Rising Awareness Regarding Adverse Effects to Restrain Market Growth

Cosmetics formulations are a mixture of numerous natural and synthetic ingredients, such as sulfates and phthalates. Rising awareness regarding adverse health effects and toxicity caused by few ingredients is likely to limit product demand. The higher cost of certain cosmetic products is also hindering the market growth. This factor also has resulted in the development of low-cost counterfeit products with lower-quality ingredients that are not safe to use. Additionally, growing consumer knowledge has resulted in the emerging trend of home remedies for various skin-related concerns, such as the use of aloe vera gel for skin moisturizing is likely to hamper the demand for beauty & wellness products.


By Type Analysis

Wellness Product Segment to Dominate on Account of Increased Adoption

Based on type, the market is segmented as hair care products, skincare products, makeup products, food & nutrition products, medicinal products, wellness products, and others. The wellness product market is expected to grow at the highest CAGR of 11.4% over the projected period from 2023-2030. The growing personalized nutrition and the shift from pharmaceuticals towards nutraceuticals, protein, and amino acids owing to the focus on preventive healthcare is likely to drive the growth of the wellness product segment. Moreover, a growing number of people altering their food habits & embracing a balanced nutritional diet and emphasis on an active lifestyle are other aspects projected to supplement the segment’s expansion. The food & nutrition products segment holds the majority share of the market due to large number of product variants and consumption demand.

Skincare products and makeup products segments to be followed by the wellness category. The significant trend toward skincare cosmetics such as face creams, powder, anti-aging products, and sunscreens lotions due to wide availability in different varieties is driving the demand for these products. Meanwhile, a rise in the trend of color cosmetics and an increase in organic and herbal ingredients in makeup products is forecasted to build product demand over the next few years.

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By Distribution Channel Analysis

Growing Focus on E-commerce Platforms and Rise in Number of Marketplaces to Strengthen Online Channel

Based on the distribution channel, the market is segmented as supermarkets & hypermarkets, specialty stores, online channels, and others. Online channels are foreseen to grow with a significant CAGR of 11.04% during the forecast period. The expansion of the e-commerce sector, online browsing and shopping for cosmetics products, hassle-free purchase and delivery experience, easy payment gateway, and added discounts & offers provided by the channel are expected to consolidate the segment’s growth.

Among these, the supermarkets & hypermarkets attributed the largest market share of over 34.56% in 2022. The main factor contributed to the substantial share of the market is the strong preference of consumers towards offline outlets that sell beauty & wellness products. Moreover, easy accessibility and availability of a wide range of these products in such establishments at affordable prices support the growth of sales.


Asia Pacific Beauty and Wellness Products Market Size, 2022 (USD Billion)

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Asia Pacific dominates the global market in 2022, accounting for over 33.57% of the global revenue. Growing consumer preferences toward buying higher quality & premium cosmetic items, as well as the rising income of the population, positively impact product sales in China, India, and Southeast Asia. Besides this, the rising demand for green cosmetics products and awareness regarding adverse side effects of greener cosmetics in the region is further supporting the demand for such natural & organic skincare products. According to the report published in 2022 by the University of Padua, ‘Cosmetics industry, an analysis of marketing & mass Communication Strategies’, nearly 70% of the cosmetic consumers in China & India showed a positive response in preferring to buy green cosmetics products. Also, the concentration on leading a healthy lifestyle, specifically by millennials has increased the demand for wellness food and beverages as well as dietary supplements favoring wellness industry growth in the region.

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The growing consumer trend of preferring color cosmetic products and luxury fragrance items in Europe has given a push to the cosmetic market growth. Additionally, increasing number of party and festival celebrations among people are further propelling the demand for fragrance & makeup cosmetics in the region. Besides this, increasing preferences & consumption of nutritional and wellness food products in the region are further driving the demand for wellness food products in the region.

In North America, rising product innovations regarding the development of novel skincare products help to cater to large growing consumer skincare needs, thereby driving the demand for such newer cosmetics. For instance, in March 2020, Mychelle Detmaceuticals, from French Transit Ltd., the U.S.-based beauty & personal care company, launched new skincare line of CBD-infused cosmetic collections to offer positive skincare solutions to consumers.

South America and the Middle East & Africa market held a relatively lower beauty and wellness products market share. International brands are making efforts to grow their market presence in these untapped markets to expand their business. For instance, in July 2023, Australian, vegan and cruelty-free makeup brand Mellow Cosmetics announced its expansion plan into the Middle East to capitalize on recovery in the makeup category. Moreover, increasing infrastructural facilities related to the cosmetic and wellness retail stores & supermarkets, as well as brand stores in the region, immensely help to meet the growing consumer demand and thereby drive market growth.


Key Market Players to Gain a Competitive Advantage By Introducing Premium Beauty Product Brands

The beauty and wellness products industry is experiencing humongous growth with established companies and emerging players. Technological advancements have led to the emergence of innovative & interesting ideas and the same holds true for the market. The industry is persistently growing and expanding its horizon, offering its audience with new products and experiences. Companies, including L'Oréal, Procter & Gamble, Johnson and Johnson, Estée Lauder are dominating the industry by investing in innovation, sustainability, and online presence. Meanwhile, as consumers are in constant search of independent brands & the finest-quality products and are willing to pay a premium for startups, the sector has become more entrepreneurial.

In the beauty & wellness products space, consumers admire and treasure products that are specifically designed to fulfill their needs. Market players and startups designing product lines parallel to the rising notion of beauty to engage with the ever-growing consumer base are gaining competitive advantage.

Further, trends, including vegan beauty, sustainability, and gender-neutrality, are among such that have been luring consumer attention. In this age of conscious buying, people are becoming more aware of what they consume and therefore demand organic and sustainable products, which has captured manufacturers’ attention and thus catering demand accordingly. A few of the startups flourishing in this digital era and disrupting the industry include Mamaearth, Planity, Sallve, Purplle, By Humankind, Hey Bud Skincare, among others.



  • June 2023: Estee Lauder Companies started focusing on innovation and the science of beauty. The company presented data for its skincare brands at the Meeting of the International Societies of Investigative Dermatology (ISID) in Tokyo, Japan. Moreover, the company prioritized research for Skin hydration, oxidative damage, scalp aging, and other skin issues.

  • June 2023: LVHM launched a new store of Sephora in Shanghai, China, to expand its presence in the Asian market. Moreover, the new store is the first with curated brands, inbuilt technology, and digital facilities.

  • May 2023: LVHM introduced new packaging for youth water oil, a product of the Guerlain brand under the beauty segment. Moreover, the packaging was designed by French artist Céline Cléron on the occasion of World Bee Day and International Biodiversity Day.

  • April 2023: Unilever Plc announced the involvement of technology in production and factories through robots. Moreover, beauty brands such as Dove, Hourglass, TRESemmé, and others are produced with the help of robots. The involvement of these robots in the production team was done in a Liverpool, UK-based material innovation factory of 120,000 sq ft.

  • January 2023: The Estée Lauder Companies launched an AI-based app for users which can be used by visually impaired consumers. Moreover, the app will have a voice assistant. The app will also guide the users in the choice and application of makeup.


An Infographic Representation of Beauty and Wellness Products Market

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The market research report provides a detailed analysis of the market and focuses on key aspects such as competitive landscape, materials, and leading product types. Besides this, the report offers market insights and highlights key industry developments. In addition to the aforementioned factors, the market report encompasses several factors that have contributed to the growth of the market in recent years.

Report Scope & Segmentation



Study Period


Base Year


Estimated Year


Forecast Period


Historical Period


Growth Rate

CAGR of 8.03% from 2023 to 2030


Value (USD Billion)



By Type

  • Skincare Products

  • Hair Care Products

  • Makeup Products

  • Food & Nutrition Products

  • Medicinal Products

  • Wellness Products

  • Others

By Distribution Channel

  • Supermarkets & Hypermarkets

  • Specialty Stores

  • Online Channels

  • Others

By Geography

  • North America

  • Europe

  • Asia Pacific

  • South America

  • The Middle East and Africa

Frequently Asked Questions

Fortune Business Insights says that the worldwide market size was USD 1,504.4 billion in 2022 and is anticipated to reach USD 2,765.8 billion by 2030.

In 2022, the Asia Pacific market stood at USD 505.0 billion.

Growing at a CAGR of 8.03% the market will exhibit a steady growth rate during the forecast period (2023-2030).

By type segment, wellness products are expected to be the leading the market during the forecast period.

Male grooming and ageless beauty trends, stress & lifestyle-related health issues, and the strong impact of social media platforms are major factors driving the growth of the Beauty and Wellness Products Market.

L'Oréal S.A., Estee Lauder Companies Inc., the Procter & Gamble Company, LVMH, and Unilever Plc. are a few major players in the global market.

Asia Pacific held the highest market share in 2022.

Growing demand for organic, sustainable, and vegan products and dietary supplements to lead healthy lifestyles is expected to drive adoption in the global market.

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