With the advent of media and social media trends, the makeup industry is just growing. The revenue of this industry witness the success of this industry. If you wonder how much the makeup industry makes a year, it is above 100 billion dollars. Equally, it has become one of the most crowded marketplaces. Therefore, it is important to know the beauty trends to make a space for new business. Whether you are a new business or want to scale one, this guide is for you to explore the cosmetic industry deeply.
Let’s begin with knowing the largest cosmetic companies in the world!
Largest Cosmetic Company in The World
L’Oréal is the biggest cosmetics company worldwide. It is leading its way to the peak in the beauty industry. In December 2023, the French company’s market value was an impressive $253.3 billion, showing its influence as a trendsetter. The L’Oréal Business is known for its variety of brands like Maybelline, Garnier, and Urban Decay, catering to different beauty styles.
1. Revlon: Timeless Beauty with Vibrant Expressions
Revlon is the name of this classic and we cannot avoid its bright makeup and hair products. As a form of inclusivity, Revlon’s beautiful range that is inclusive of a wide variety of preferences is celebrated.
2. Coty: A Global Beauty Portfolio
Coty is one of the most distinctive players in this space, as it has a broad portfolio including big names such as CoverGirl and Kylie Cosmetics. It is a company that operates internationally and the activities of the company through its international operations continue to affect beauty trends across continents.
3. Avon: Personal Beauty Connections Worldwide
Avon creates individual linkages with customers worldwide. It is faithful to the aims of affordable aesthetics and, as such, continues to be an innovative distributor of beauty products.
4. Procter & Gamble (P&G): Household Names in Beauty
As a household name, P&G can be associated with brands such as Olay, Pantene, and Gillette, which form a well-structured beauty portfolio. Quality and great customer satisfaction stand as a good testimony basis of their dominance in the cosmetic sector.
5. Shiseido: Japanese Elegance in Beauty
It is a Japanese elegance that is the cause of Shiseido. It provides uniqueness of tradition and novelty. Shiseido is well known for skincare excellence with a focus on combining its product lines to create a complete harmony between the elements of nature and science. It has indeed become a competitive beauty contestant on the world stage
6. Unilever: Sustainable Beauty Innovations
Unilever is one of the prominent companies in the beauty and personal care industry. In the sustainability efforts, it is very unique. Host to brands such as Dove, Vaseline and so forth, Unilever leads eco-friendly projects while boiling down quality products.
7. Johnson & Johnson:
Johnson & Johnson is a trusted name in wellness that extends its influence to the beauty realm. With brands like Neutrogena and Aveeno, the company emphasizes skincare solutions that prioritize health and well-being.
8. Mary Kay: Empowering Beauty Consultants Globally
Mary Kay is a direct-selling giant. It empowers individuals globally as beauty consultants. Through its personalized approach, Mary Kay creates a community-driven beauty experience, offering a range of skincare and makeup products.
Trends In Beauty Industry – 2024 Beauty Trends
Eco-Chic Transformations
Consumers expect accountability from brands for their environmental footprint. Therefore, cosmetic companies are taking action in this regard. They are embracing eco-friendly packaging solutions like custom printed mylar bags. This eco-chic transformation reflects a collective commitment to sustainability and resonates with conscientious consumers seeking greener beauty options.
Aesthetic Appeal with Oceanic Elegance
Inspired by the vast oceans, this trend focuses on sustainable beauty. Brands address ocean protection with waterless and reef-friendly products. These ocean-derived ingredients are harvested sustainably and take center stage in oceanic elegance. Packaging aligns with cosmetic products by avoiding microplastics and ocean-bound plastic. Also, these designs embrace marine themes and reflective color palettes for an elegant touch.
Innovation with AI
In the dynamic era of ‘Generation Flex,’ beauty evolves with individuality. Artificial intelligence (AI) creates personalized beauty experiences, from digital diagnostics to virtual fragrances. That’s how pop-up stores, festivals, and influencers redefine beauty engagement. Indeed, packaging becomes a sensory delight with these tech-enabled features. It has enhanced the distinct and changeable beauty journey in the cosmetic industry.
Timeless Wellness with Beauty
With an aging population, this trend focuses on holistic health and prevention. Evidence-based supplements and non-invasive aesthetic therapies gain prominence. Packaging evolves with effective delivery methods, featuring two-in-one packs, mini vials, and laboratory-inspired aesthetics. Science-driven solutions cater to the ongoing pursuit of youth and address the link between epigenetics and skin longevity.
Uplifting Visions with Cosmetics
Navigating a VUCA world, the ‘Uplifting Visions’ trend envisions a ‘protopian’ future. Brands respond with waterless formulas, climate-adaptive solutions, and sustainable alternatives. Packaging embraces alternative materials like biocomposites, recycled options, and climate-adaptive formats. Also, aesthetic tones shift to moody and dusky hues with futuristic elements. It reflects an ethical perspective of this kind of cosmetic product.
Big Beauty Industry Group
Derrick Porter, the CEO of Beauty Industry Group (BIG), entered the scene in 2006 through a meeting with its founder, Logan Woolley. Their connection stemmed from Logan being a customer of a logistics company. BIG is a holding company in the professional beauty industry. It operates with a unique strategy for success. Indeed, its reach extends across North America, Australia, and parts of Europe and Latin America, making it a global player.
Additionally, the Beauty Industry Group (BIG) stands out as a leading supplier of top-notch hair extensions and other beauty products. What sets BIG apart is its diverse portfolio of independent brands, each catering to distinct channels and end-users within the beauty markets. This strategic approach allows BIG to navigate and excel in various segments of the beauty industry. Also, this channel solidifies its position as a key player in the global market.
Conclusion
The beauty industry is one of the top-growing industries in the world. It is the media and rising trends of beauty that have given it a hype. Therefore, from big brands to small businesses,everyone is making a profit from this industry. However, it is wise to know its trends and data before starting a beauty brand. I have explained the main beauty trends and big brands to help you get an idea. Now, you can ideate and start your next successful brand in the makeup industry.