The toiletries market has surged from $349.95 billion in 2023 to $391.95 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 12.0%. This rapid growth is driven by demographic changes, evolving consumer preferences, effective marketing, and health and wellness trends. The market is expected to reach $620.08 billion by 2028, with a CAGR of 12.2%. Growth drivers include sustainability and eco-friendly products, personalization trends, the wellness and self-care culture, innovations in ingredients, and brand globalization. Major trends include digital marketing and e-commerce, technological advancements, natural and organic products, customization, and increasing demand for wellness and self-care products, including men's grooming.
Major Driver In The Toiletries Market
The toiletry market is expected to experience growth driven by the ageing population, leading to increased sales of anti-aging skincare products. Products like anti-aging creams, peels, and wrinkle-reducing moisturizers are likely to see a surge in demand. Additionally, older women, often having more disposable income than their younger counterparts, are expected to contribute significantly to the market. According to the World Population Prospects 2022, the global population aged 65 or above is projected to rise from 10% in 2022 to 16% in 2050, serving as a growth driver for the toiletry market. The market sizes for 2023, 2024, and 2028 play a crucial role in understanding the market's future.
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Toiletries Market Competitive Landscape
Itochu Corporation, Johnson & Johnson, Tesco plc, The Procter & Gamble Company, Seven & i Holdings Co. Ltd., Alimentation Couche-Tard Inc., Unilever plc, L'Oréal S.A., Himalaya Wellness Limited, Casino Guichard-Perrachon S.A., Natura & Co Holding S.A., Love's Travel Stops & Country Stores Inc., Henkel AG & Co. KGaA, Reckitt Benckiser Group plc, Kimberly-Clark Corporation, Colgate-Palmolive Company, The Estée Lauder Companies Inc., Kao Corporation, Auchan Holding S.A., Maxingvest ag, Beiersdorf AG, Shiseido Company Limited, LG Household & Health Care Ltd., Church & Dwight Co. Inc., Coty Inc., Avon Products Inc., Oriflame Holding AG, SPAR International B.V., Magnit PJSC
Key Toiletries Market Trend
Companies are focusing on the manufacturing of toiletries based on natural and organic products due to increased awareness of consumers about the hazards due to the usage of synthetic materials. Toiletries are products focused on consumer hygiene and beatification. Companies are producing products with a high rate of transparency in ingredients, packaging, and sustainability as the end-users are opting for a healthy lifestyle. Natural and organic products are obtained from plant extracts, vegetables, and essential oils with higher levels of vitamin C and essential minerals such as calcium, magnesium, iron, and chromium and are eco-friendly. For instance, by March 2021, Maybelline and Lancôme maker L’Oréal aims to derive nearly all its ingredients from renewable plant sources and abundant minerals by 2030, as demand for organic and environmentally friendly cosmetics grows.
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Toiletries Market Segmentation
The toiletries market covered in this report is segmented –
1) By Type: Lotions (Including Sunscreens), Hair Preparations, Face Creams, Perfumes, Shaving Preparations, Other Cosmetic Preparations
2) By Preference: Mass, Premium
3) By Gender: Male, Female
4) By Distribution Channel: Hypermarkets/Supermarkets, E-Commerce, Pharmacy Stores, Other Distribution Channels
By Geography:The regions covered in the toiletries market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
Asia-Pacific was the largest region in the toiletries market in 2023.
The Toiletries Global Market Report 2024 furnishes information about the global toiletries market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
