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Summary and extracts
1 Market overview
1.1 Definition and presentation
Men's cosmetics are products that improve men's appearance, protect certain body parts and can also mask certain body odors. The market is often divided into three main segments: hygiene (soaps, shampoos, deodorants, etc.), skincare (moisturizers, shaving foam, etc.) and beauty products (make-up, perfume, eau de toilette, etc.).
Worldwide, the men's cosmetics market is largely dominated by Asia, which accounts for over 40% of the sector's sales. Consumption habits are much lower than in the Western world, and in certain Asian countries such as Korea, where the use of cosmetics for men is very common. The second largest market is North America, followed by Western Europe. Skin care products are the most popular, ahead of hair care and make-up.
In Spain, men have become increasingly important in the cosmetics market. While men buy an average of 16 beauty products a year, compared with 30 for women, who spend much larger sums, sales of men's products are showing higher growth. Young people between the ages of 25 and 35 are driving market growth. Spending on perfume was most dynamic before the advent of covid-19, which prompted Spaniards to turn more to skin care products.
List of charts presented in this market study
- Breakdown of the global cosmetics market by segment
- World ranking of the largest cosmetics companies
- Global cosmetics market growth forecast
- Cosmetics sales
- Segmentation of the Spanish cosmetics market
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Latest news
Sephora downsizes in China after leaving South Korea - 22/08/2024
- - Sephora is shedding "just under 3%" of its workforce in China, or around 100 jobs.
- - Sephora has around 400 stores in Asia, including 300 in China.
- - Founded in 1968 and acquired by LVMH in 1997, Sephora set up in Beijing in 2005.
- - Sephora is the number one retailer of high-end beauty products in the United States.
- - The company is targeting sales of "20 billion euros".
- - Sephora's operations in China would have generated combined losses over 2022 and 2023 of $46 million, according to annual reports from Shanghai Jahwa United Co. Ltd. which holds 19% of its business on the mainland.
- - Sephora recently reduced its presence in South Korea and withdrew from Taiwan.
- - The brand is a significant contributor to LVMH sales, second only to Louis Vuitton (over 20 billion in sales).
- - Sephora has estimated sales of over $12 billion, according to Bernstein.
Unilever in talks with funds to sell Ben & Jerry's and Magnum for 18 billion euros - 22/07/2024
- overall, ice cream will account for just 13% of sales in 2023 (59.6 billion euros)
Unilever to cut 3,200 jobs by the end of 2025 - 16/07/2024
- Total number of job cuts announced: 7,500 people
- - Number of job cuts in Europe: 3,200 people
- - Percentage of European employees affected: one-third
- - Main locations affected: London and Rotterdam
- - Disposal of ice cream division planned by end 2025: current value around 8 billion euros
- - Offer received for Knorr-branded liquid soups business in France: from Sill Entreprises group
- - Announced sale of Elida Beauty subsidiary: completion scheduled for 2024
- - Sale of Dollar Shave Club brand: to Nexus Capital Management
Chanel seeks new impetus with the departure of its artistic director - 06/06/2024
- - The Chanel group employs over 36,500 people worldwide.
- - Chanel sales 19.7 billion dollars in 2023
- - Chanel sales rose by +15.8%.
- - In the United States, Chanel sales rose by less than 3% to $3.9 billion.
- - In Asia, Chanel sales rose strongly by 17.7% to $8.4 billion.
- - Chanel's distribution network has doubled over the last five years.
How L'Oréal's AI helps you look your best - 31/05/2024
- - The "Beauty Genius" app: Scheduled to launch in the US in autumn, then in France.
- - Using AI for beauty diagnostics
- - Since acquiring ModiFace in 2018, L'Oréal has launched a skin diagnosis based on a selfie.
- - Over 100 million uses of diagnostic tools in one year.
- - Investment in technology and AI: 1 billion euros.
- - Creation of the L'Oréal GPT for its 90,000 employees
Luxury: Chanel on the right track - 22/05/2024
- - Chanel 2023 annual sales: $19.7 billion (approx. €18.2 billion), an increase of 14.6%.
- - Workforce: 36,500 employees.
- - Number of Chanel boutiques worldwide: over 600.
- - Sales in Asia: $8.4 billion, up 17.7%.
- - Sales in Europe: $4.7 billion.
- - Sales in the United States: $3.9 billion, with growth of less than 3%.
- - Number of Chanel stores in mainland China: 18.
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the men's cosmetics market | Spain
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