Prestige/luxury cosmetics market - statistics & facts

While the vast majority of people buy their cosmetics in places like drugstores and supermarkets, there is a special class of cosmetics for those who want the luxury experience when it comes to makeup and skin care. The market for luxury and prestige beauty generated revenues of about 62.3 billion U.S. dollars in 2022 and this figure is expected to grow to approximately 87 billion dollars by 2028. A great part of the sales value of prestige products is attributed to premium skincare products. The United States is currently the most prominent country in the global prestige cosmetics and fragrances industry, having generated revenues of nearly 12 billion U.S. dollars as of 2022.

The U.S. market

The United States is indeed home to a 27-billion-dollar prestige beauty industry. One of the largest segments is luxury hair care, which experienced a notable sales growth of about 22 percent in 2022. In the first quarter of that year, make-up remover was the fastest-growing prestige beauty product, with a sales growth of approximately 60 percent. According to a recent survey, 17 percent of U.S. consumers stated that the attribute “luxury” is important to them when purchasing beauty and personal care products. In 2021, leading the ranking of the most well-known premium brands in the U.S. was Clinique, followed by beauty giant Estée Lauder.

Market leaders

Luxury cosmetic brands, such as Estée Lauder and Lancôme (L'Oréal), are among some of the most valuable personal care brands in the world. Estée Lauder saw a substantial increase in sales between 2008 and 2022, growing from nearly eight billion U.S. dollars to around 17.7 billion U.S. dollars. About 24 percent of Estée Lauder’s revenue is generated by makeup sales, making it the largest product category for the company. Meanwhile, sales of L'Oréal’s product category Luxe have also increased over time, and the segment currently makes up the largest share of the company’s consolidated sales.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Mar 19, 2024

Key insights

Value of the personal luxury goods market
353bn USD
Forecast luxury cosmetics market revenue in Europe in 2028
9.2bn USD
Sales value of prestige beauty products in France
1.3bn EUR
Get more insights

Editor’s Picks Current statistics on this topic

Value of the personal luxury goods market worldwide from 1996 to 2022 (in billion euros)

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Value of the global personal luxury goods market 1996-2022

Revenue of the prestige cosmetics market worldwide from 2015 to 2028 (in billion U.S. dollars)

Cosmetics & Personal Care

Revenue of the prestige cosmetics industry worldwide 2015-2028

Sales value of the perfumes and cosmetics division of Christian Dior worldwide between 2013 and 2022 (in million euros)

Perfume & Scents

Sales of Christian Dior perfumes and cosmetics in value worldwide 2013-2022

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Cosmetics industry in the U.S.
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Luxury goods in Europe
Luxury goods in Europe
Cosmetics industry worldwide
Cosmetics industry worldwide
Estée Lauder
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L'Oréal: Shaping the future of beauty
L'Oréal: Shaping the future of beauty

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