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Europe holds the second-largest share of the global cosmetics market. It is projected to record a CAGR of 4.0% during the forecast period of 2023-2030. The global market is projected to grow from USD 313.22 billion in 2023 to USD 417.24 billion by 2030.
The Europeans use luxury cosmetic products to enhance their beauty and self-esteem. Cosmetic products can help improve hair, skin, and face problems such as acne, hair fall, pigmentation, pimples, and others.
According to the Cosmetic Association of Europe, the European market is driven by products from antiperspirants and shampoos to soaps, fragrances, makeup, sunscreens, and different kinds of toothpastes. Cosmetics play an essential role in not only enhancing an individual’s appearance, but also improving their skin health. According to a report by the National Centre for Biotechnology Information (NCBI) in 2021, serums containing vitamin E help repair skin inflammation and offer a smoother acne-free skin surface.
This report on the Europe cosmetics market covers the following countries/regions – Germany, France, Spain, Italy, the U.K., and the Rest of Europe.
Rising Demand for Cosmetics Made from Active Ingredients to Favor Market Growth
Active ingredients, such as A.H.As (Alpha Hydroxy Acids), BHAs (beta hydroxy acids), hyaluronic acid, niacinamide, and others, are trending in this market. Europeans prefer cosmetics made from these ingredients to improve their skin tone and remove fine lines & wrinkles.
Many key players, such as L’Oréal S.A, the Estee Lauder Companies, and Beiersdorf AG, in the region are extensively using these active ingredients in their cosmetic products to maintain their competitive edge in the market. Cosmetics made from these ingredients are said to be ideal for treating various hair and skin issues such as hair loss, facial acne, dark circles, and scalp skin itching. Growing awareness regarding the health benefits of active ingredient-based cosmetics among Europeans will drive the market growth.
Increasing Prevalence of Skin Problems among Europeans to Drive Product Demand
Sustainable cosmetics are beneficial in treating skin conditions, such as acne, marks, textural issues, and skin irritation. This factor is expected to drive the market growth.
According to surveyed data presented by the National Library of Medicine, National Centre for Biotechnology Information (NCBI), in March 2022, nearly 94 million Europeans complained about uncomfortable skin sensations, such as itching, dryness, or burning. The report further stated that the most frequent skin conditions among Europeans were fungal skin infections at 8.9%, atopic dermatitis or eczema (caused by skin rashes and pimples) at 5.5%, and acne conditions at 5.4%.
Health Complications Due to Overuse of Skincare Cosmetics to Hamper Market Growth
Excessive usage of makeup products could cause skin pores to enlarge, pimples, rashes, wrinkles, fine lines, and other problems. In addition, repetitive use of hair coloring products and dyes can cause dry scalp, excessive hair loss, hair thinning, and other severe conditions to the users’ hair. These aspects could weaken consumers’ demand for such products and restrain the European cosmetics market growth.
For instance, according to the Food & Drug Administration (FDA) report published in February 2022, cosmetic products can trigger allergic reactions in the skin, causing severe skin damage such as deep pigmentation, loss in skin elasticity, and eczema.
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The key manufacturers that have captured a sizable Europe cosmetics market share are adopting business strategies, such as acquisitions & mergers, joint ventures, new product development, and partnership & business expansions, to enhance their business portfolios & production capacity and strengthen their market position in Europe. For instance, Europe-based cosmetics company flânerie skincare announced the launch of a new skincare range to expand its product portfolio. The new range is said to be infused with active ingredients and enriching formulas to restore the skin's ideal pH level.
The market research report provides a detailed market analysis. The report also provides a detailed market outlook and forecasts based on different product segments. The report is segmented based on category, gender, distribution channel, and country/region. It focuses on critical aspects, such as overview of the cost structure of cosmetics, the European industry’s supply chain, and rise in adoption of active ingredients in this industry.
In addition, the report provides detailed information on new product launches, key industry developments such as mergers, partnerships, & acquisitions, and the impact of COVID-19 on the market. Besides this, it also offers insights into fundamental industry dynamics, trends, and outlooks. In addition to the abovementioned factors, the report encompasses several factors that have effectively contributed to the market's growth in recent years
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CAGR of 4.0% from 2023 to 2030
Value (USD billion)
By Category, By Gender, By Distribution Channel, and Country/Sub-Region
By Country/ Sub-Region
Recording a CAGR of 4.0%, the market will exhibit steady growth during the forecast period of 2023-2030.
The rising prevalence of skin problems and increasing consumers’ preference for luxury products are the major factors driving the market growth.
L'Oréal S.A., Unilever plc, and the Procter & Gamble Company are the major players in the Europe cosmetics market.
Germany dominated the market in 2022.
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