Discover the top beauty stores on Shopify to learn about stores' organic traffic, paid traffic, top landing pages and more.
The cosmetics industry is a multi-billion dollar industry that is constantly growing.
This is due to the increasing importance of self-care and wellness among consumers worldwide.
Here we have listed top 10 Shopify beauty brands and how they lead the way!
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Cosmetics Industry Growth and Key Categories
The cosmetics industry is experiencing robust growth, driven by a growing focus on self-care and personal appearance. In 2022, it saw an impressive growth. This expansion encompasses various product categories, including skincare, haircare, makeup, perfumes, toiletries, deodorants, and oral cosmetics.
Skincare Dominance and Lucrative Outlook
Among these, skincare led the way, comprising a substantial 41 percent of the global market in 2022. Haircare and makeup followed, making up 22 percent and 16 percent of the market respectively. Skincare is a standout category, with projected revenues expected to reach an impressive $182 billion by 2027.
Regional Contribution and Anticipated Market Growth
In 2022, the North-Asia region played a significant role, contributing around 32 percent to the global cosmetics market. Looking ahead to 2023, the Beauty & Personal Care market is poised to generate a substantial revenue of US$579.20 billion, with an anticipated annual growth rate of 3.53% (CAGR 2023-2028).
Personal Care Segment and Leading Revenue Generator
Within this market, the largest segment is Personal Care, accounting for a significant volume of US$253.30 billion. On a global scale, the United States takes the lead in revenue generation, projected to reach an estimated US$92.79 billion in 2023.
Per Capita Contribution and Emerging Online Sales Trend
Per capita, each person is expected to contribute US$75.37 in revenue in the same year. Furthermore, an exciting trend on the horizon is the anticipated surge in online sales, which are projected to account for 17.7% of the total revenue in the Beauty & Personal Care market by 2023.
This signals a notable shift in consumer preferences towards digital shopping experiences in the beauty industry.