Self-care, beauty, and wellness are taking over our social media feeds and everyday conversations. But beyond face masks and yoga trends, the health and beauty business is booming faster than ever. The global beauty industry alone is worth a whopping $511 billion—and it’s showing no signs of slowing down.
With innovative products, glamorous influencers, and insta-worthy experiences galore, it’s no wonder this market has grown nearly 10% in just the last few years. That’s why we’ve rounded up the latest juicy stats showcasing some surprising health and beauty industry trends.
Want the inside scoop on everything from how the guys are getting in on grooming to predictions that Gen Zers will be splurging over $7 billion on beauty products in 2024 alone? Then read on for all the numbers you need on this big-money business that clearly knows how to stay healthy, wealthy, and wise.
Key Beauty and Health Industry Statistics
- The revenue of the beauty and health market will reach $625.70 billion in 2023.
- Personal care has a large chunk of the market value, $274.20 billion in 2023.
- The United States has the largest slice of revenue in the beauty industry, with a total of $98 billion in just 2023 alone.
- Online sales will account for 17.7% of the health and beauty industry sales 2023.
- Revenue for the industry ended well with $564.40 billion in 2022.
- Experts think the market will have better days, with a growth of 4.76% between 2022 and the end of 2026.
- Organic beauty products will increase to $22 billion globally by 2024.
- 1 in every 4 ladies prefers using a product that suits the weather conditions.
- It will strike you to know that 96% of beauty products have a social media handle.
- Teens are known to spend an average of $44 billion every single year.
- Asia Pacific holds quite a large share of about 50% in the beauty and health market.
- Ladies are most likely to give themselves a beauty treat of $313 every single month.
General Beauty and Health Industry Statistics
1. The Health and Beauty Industry is Partitioned Into Several Segments.
These segments in 2021 and 2022 had a fair slice of the entire market revenue.
- Hair care with 24%.
- Skincare was 23.7%.
- Fragrances earned 9.5%.
- Makeups boasted of 14.6%.
- Antiperspirants, deodorizers, and female hygiene recorded 8.5%.
- Oral hygiene owned 5.6%.
- Additional segments grabbed 14.1%.
2. Personal Care in 2022 Comprised a Large Part of the B and H Industry, Ending With $254 Billion.
Personal care includes oral hygiene, cosmetics, skincare, and many others. This segment earned $254B at the end of 2022.
3. Offline Sales Bring in a Total of 81% Into the Beauty and Health Industry.
Recent studies show that delivering products physically still provides large sales by 81%. This is not far from the truth. Most people today prefer to get what they want from the store by themselves. This is why drug stores and pharmacies like Walgreens can push in 58% of cosmetics buying. Walmart is not left behind as they drive in customer traffic. Despite many people flocking to the stores, 42% buy online things. Research shows that the number of these people is increasing every year. The United States is not excluded from this new trend, as online shopping has grown to 48% in 2023.
The Asia Pacific region has been growing at an amazing fast rate with no sign of slowing down soon. The region is well known for pushing and promoting health and beauty products. Taking the largest share of the beauty market should not come as a surprise to you. This is because beauty is entwined in its rich cultural heritage. The countries on the front line of the cosmetics industry in the Asia-Pacific region are Indonesia, Thailand, and Malaysia. North America falls in second place with a 24% market share. Then, Western Europe is in third place, with a market share of 18%. Africa has quite a small fraction of 3% of the global market share.
5. Organic Beauty Products Will Most Likely Rise to $22 Billion Globally by the End of 2024.
This should not be a surprise, as 59% of beauty care consumers are not so sure of the safety of most care products. This doesn’t end there, as 92% believe stricter measures should be taken. This ensures that the right amount of ingredients is used to produce products. Statistics show that Organic lovers are growing by the year. The year 2018 proved it, as 72% of customers felt organic products were better to use. As such, experts predict we will see more numbers in the next couple of years. This growth is well expected as organic products do not contain toxins.
6. There Were Up to $74.15 in Sales Per Person in the United States Market in the First Quarter of 2022.
As stated earlier, North America had a slice of 24% of the global market. Americans were not out in any way as sales per person in that same 2022 was around $74.15 of cosmetics. This sale depended on the brand type, a single product, or more from a shopping spree.
7. 1 in Every 4 Ladies Prefers Using a Product That Suits Well With the Weather.
More people are happy using organic products with the passing of each day. Consumers are becoming more aware of the health risks of skincare materials. People are becoming smarter and are now conscious of the brands they use. Ecofriendly is a trend that is fast taking the market by storm. It is not just the packaging but also the manufacturing process. Examples of companies that have made themselves known in this regard are Ursa Major, Naturopathic, True Botanicals, and Matrescence. These and more use techniques that are eco-friendly to wrap their goods.
8. Revenue From the Health and Beauty Industry Did Well, Ending with $564.40 Billion in 2022.
2022 was successful, with a closing revenue of $564.40 billion for the beauty and health industry. The statistics show great prospects for many thinking of entering the market. Influencers, marketers, and brands all had a field day in 2022. Many people who are involved in one way or another in the health and beauty industry are earning up to 6 figures. They do this through their social media handles and creating content as well. Some popular areas that make waves in the industry are makeup tutorials, new product launches, and skincare reviews. These are areas you can also take advantage of to make some earnings.
9. Ladies Most Likely Give Themselves a Monthly Beauty Treat of $313.
The average American woman would not mind spending up to $3,756 on beauty products annually. This expense brings ladies’ monthly pay on beauty treats to $313. It also means that an entire $225,360 is spent by one person throughout her lifetime. When compared, men are likely to spend a lower amount, about $175,650, on beauty and health products. This implies that the average American man pays $244 monthly. Regarding cosmetics, men most often opt to buy facial moisturizers.
10. Teens Spend an Average of About $44 Billion on Beauty Products Annually.
This is not farfetched as, at this stage, a teenager is sensitive to their appearance. They spend an average of just around $44 billion on beauty products. Teens belong to Generation Z and are in the social exploration stage. Also, most teens are now exposed to life on social media. They take notice of trends in social media and go all out to look good. Surprisingly, 90% of female teens wear products that enhance their looks. At the same time, just 70% of boys will tow the same part. Teenagers often feel that social media heightens peer pressure, so they go all out to seek the best beauty product. Also, knowing brands is important to 61% of teenagers. 65% are more concerned with the latest trend, and 62% use makeup to feel better about themselves.
11. Makeup Products are Used by About 56% of Men Who Go Out on a Shopping Spree.
The number of men who use makeup products is growing by the year. Most men say that they use a foundation and even a concealer at least one time in a year. This accounts for just 56% of men who do their shopping. Though these men do not use makeup yearly, it adds to the beauty and health sector’s revenue. About 40% of men between 18 and 22 wanted more neutral-gender beauty products. The industry has created many beauty and health products that men can enjoy. Among the list of products men use are shaving creams, skincare, beard care, hair care, and so many others.
12. As Large as 96% of Beauty Brands Use a Social Media Handle.
The number keeps adding until it reaches 96% in 2022. Most beauty brands use social media to showcase their products globally. It was predicted that beauty brands would go all out to spend $7.7 billion on simply advertising in 2022. The level of growth in the beauty and health industry can be closely linked to the efforts of influencers on social media. Brands rely increasingly on influencers to take the word of their product to the audience. Tools used in this regard include Facebook, TikTok, and YouTube to get the product out to the waiting world.
13. Just One-third of Beauty and Health Users Buy From Social Media.
Digital marketing has, over the years, broken barriers to reach out to the bubbling beauty audience. There’s an 11.5% email open rate through marketing and an average cost per click of $1.68 for a beauty ad. All this would not have been possible without the advancement we now see in digital marketing. Beauty shoppers between 18 and 54 say that YouTube is their best means to get beauty and health content. The volume of watch times has doubled over these years, and we will still see more of this increase in years to come.
14. 82% of Beauty and Healthcare Consumers are on Instagram Daily.
Instagram has become the most successful social media site influencers use to advertise products. The beauty and health industry has benefited hugely from its vast Instagram page. Instagram has enabled brands and influencers to get the word of their products to a ready audience. Most brands confess that influencer marketing proves to be more efficient than email campaigns.
15. Up to 62% of Teenagers Keep Updating Themselves on Their Favorite Beauty Brands on Social Media.
The large percentage of teens who follow beauty brands should not come as a surprise. This is because many teens today are not novices to using social media. As high as 62% of teens will check out a beauty or health product on social media before deciding to buy. Some teens are content creators in makeup, beauty and health reviews, and other trendy aspects.
16. Kylie Cosmetics had Over 25 Million Instagram Followers in the First Quarter of 2022.
It was an exciting year for Kylie Cosmetics when it gathered 25 million Instagram followers in 2022. The brand has experienced real growth, all thanks to Instagram. Kylie had over 300 million in her account during that same period. So, having large followers on Instagram did not come as a great surprise. Anastasia Beverly Hills followed closely with 20.1 million Instagram followers in 2022. Some others that had a good slice from Instagram in 2022 are Benefit Cosmetics in the United States, Ultra Beauty, NARS Cosmetics, and Bath Body Works.
E-commerce and Tech Statistics of the Beauty and Health Industry
17. E-commerce Sales in the Beauty and Health Industry are Likely to Grow by 77% From 2021 to 2026.
More consumers today rely on online reviews to decide what product to buy. This recent behavior has entered into the beauty and health industry as well. E-commerce beauty sales can hit as high as $358.4 billion by the end of 2026. This expert statistic is a ray of hope for better days in the industry. Marketers, brands, and influencers can use this information to promote their products to a wider audience.
18. 65% of Beauty and Health Vendors Help Buyers Make Better Choices Using an Interactive Quiz Model.
A virtual interactive session is a great way to provide needed answers to several beauty questions. Consumers in need of a quick recommendation turn to virtual assistants. Many beauty brands are now turning in the direction of interactive quiz technology. Whether in skincare or healthcare, these companies are using this new technology. It is easy to know when a company gives interactive quizzes; you only need to look at the brand’s website. You can get a brand website on social media, social ads, and even shared online content. These interactive quizzes will help you choose, regardless of skin type and color.
19. Only 6% of Beauty Shoppers Use VR and AR Technology When Picking Cosmetics.
Augmented reality, AR, and virtual reality (VR) were the means to try products during the pandemic. Many had to make do with the VR and AR technology as they could not make it to a physical store. Popular brands like Avon, Sephora, and many others make sales through this means. The augmented reality technology, which ModiFace designed, is in partnership with over 70 beauty and health brands. All the consumers have to do is enable the front camera or webcam on their device to try a couple of cosmetic products. This technology is now available for use for both sunglasses and eyeglasses products.
20. Up to 74% of Consumers Today Use Reviews From Beauty Websites to Make Purchases.
Do you know that users of beauty products now rely on product reviews to make their purchases? Patrons of beauty products are more likely to buy products that post reviews on their site. This new consumer action also occurs in other industries as well. Customers are most often drawn to products with some form of social proof. It is a win-win for the brands as they now achieve up to 80% loyalty from female folks.
21. Brands That Post User-generated Content on Their Site are the Choice of 62% of Beauty and Health Users.
Brands in the beauty industry, like Le Labo and MAC Cosmetics, have made a name for themselves. Hosting user-generated content on their site has helped in no small way in pulling many consumers. UGC, for short, is a great way for brands to bring products closer to the people.
22. Demand for Organic Beauty and Health Products is Likely to Rise to $32.3 Billion by the End of 2027.
Products that contain purely natural and organic ingredients are getting better attention from beauty users. Today, shoppers want to know more about the products they want to buy. Most people now read labels on products to know what they contain. There has been a growing awareness of using products that are not harmful to the health and body from the time of the pandemic.
23. A Total of $400 Million Was the Sales Volume of the New Concept of Clean Beauty Made in 2021.
The idea of pure beauty has kept on growing for over 30 years now in a row. This is coming as a response to the awareness of toxins spreading everywhere. People are now more aware of the dangers they face when they use products that contain toxins. As such, the move in the direction of organic products is the trend to follow today. So, in years to come, organic products will rise as the standard for grading products in the beauty industry.
24. About 70% of Beauty and Health Users Between 18 and 29 Years Old in the United States Buy Organic Products.
The records show that about 70% of persons between 18 and 29 like buying organic products. Persons who are 30 years to 59 are not left out, as 60% like to shop for natural and organic skincare products. This is because more and more people are becoming aware of the goodness in them. Just look at the stamp and certification on the pack of a beauty product, and you will know if it is natural or not.
25. More Than 2 in Every 10 Natural Beauty Products Were Sold in 2018 by a Distributor.
The success of sales in the organic natural beauty market is attracting the attention of beauty companies. Companies that have made a big name are now following the organic path. This is no surprise; everyone wants a slice of the organic market.
26. The Organic Beauty Market Will Likely Be Worth Over $22 billion at the Close of 2024.
The global stage of the organic industry will most likely rise more than ever. The signs are all out, with statistics showing that this industry will grow bigger in the coming years. A value of over $22 billion is possible as the industry has been on an 8% to 10% rise for some time now. One of the major parts of the organic market making waves for itself is the skin and hair care section. These sections bring in over 50% of the income that comes into the industry. This is no surprise, as general hair care and coloring have attracted the public’s attention.
Conclusion
The health and beauty industry is indeed a wonder to behold. Over the years, it has passed through stages under the eyes of the public. The COVID-19 pandemic opened the eyes of many to see how important natural things are to us. This new awakening did not in any way spare the beauty industry. Brands in the beauty and health industry are now rolling out products that will benefit every skin type and color.
You don’t need to be alarmed about what will be good for your skin; you only need to look at the label. The label on each product will give the word out on which product has chemicals or not. Meanwhile, social media has helped a lot in pulling a lot of funds into the hands of beauty brands. Successful sales brands cannot be far from the efforts of influencers. For many years, we will see more of this success in the beauty and health industry.
