At USD 374.18 billion in 2023, the global cosmetics market is huge, and the industry is only growing as the demand for beauty and personal care products continues to increase. The demand for cosmetics such as creams, serums, soaps, powders and more applications, is getting increasingly specialized such as for hair, face, lip, eye, colour, protection, age, gender, season, skin type, and more.
With competition stiff and cosmetic manufacturers vying for customers, several subsidiary industries have spun off such as the development of innovative and convenient packaging designs, eco-friendly, ethically sourced and chemical-free products, and compact containers to name a few.