Industry News: Toiletries Global Market Report 2024

Toiletries Market Definition

The toiletry refers to products and items that are used to clean and groom such as everyday shampoo, and soaps. The toiletries are convenience products that can be carried easily and anywhere.

The main types of toiletries are lotions (including sunscreens), hair preparations, face creams, perfumes, shaving preparations, and other types. Lotions are liquid preparations for cosmetic or external medicinal use. The preferences are mass and premium. The genders are male and female. The distribution channels are hypermarkets and supermarkets, e-commerce, pharmacy stores, and other distribution channels.

Toiletries Market Segmentation

The toiletries market can be broadly segmented as follows:

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

Toiletries Market Size 2024 And Growth Rate

The toiletries market size has grown rapidly in recent years. It will grow from $349.95 billion in 2023 to $391.95 billion in 2024 at a compound annual growth rate (CAGR) of 12.0%. The growth in the historic period can be attributed to growing demographic changes, consumer preferences, marketing and advertising, health and wellness trends.

Toiletries Market Growth Forecast

The toiletries market size is expected to see rapid growth in the next few years. It will grow to $620.08 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%. The growth in the forecast period can be attributed to sustainability and eco-friendly products, personalization trends, wellness and self-care culture, innovations in ingredients, globalization of brands. Major trends in the forecast period include digital marketing and e-commerce, technological advancements, natural and organic products, personalization and customization, wellness and self-care, men's grooming products.

Toiletries Market Driver: Ageing Population Fuels Growth In The Toiletries Market 

The ageing population is expected to be a growth driver for this market. Sales of products such as anti-aging creams and peels, wrinkle-reducing moisturizers, and other anti-aging topical treatments are expected to increase. Apart from this, older women usually have more disposable income than younger women. This will make it easier for them to spend more on cosmetics. For instance, in July 2022, according to the World Population Prospects 2022 published by relief web, a US-based humanitarian information portal, stated the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. Thus, driving the toiletry market going forward.

Toiletries Market Driver: Increased Hygiene Awareness Driving Growth In The Toiletries Market

Increasing awareness of personal hygiene and cleanliness is expected to fuel the growth of the toiletries market going forward. The awareness of personal hygiene and cleanliness is achieved through educational programs, both in schools and through public health initiatives, government initiatives, media and communication, and various other sources. For instance, in July 2021, according to Food Safety News, the survey results conducted by Harrison Wipes, a UK-based supplier of non-woven wipes, 82% of respondents were more aware of how they clean since the pandemic began. Overall, 91% of individuals stated more awareness of cleanliness measures in public spaces, such as the presence of hand sanitizer stations or staff diligently disinfecting surfaces. Therefore, increasing awareness of personal hygiene and cleanliness is driving the growth of the toiletries market.

Global Toiletries Market Major Players

Major companies operating in the toiletries market include 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

Global Toiletries Market Restraint: Regulatory Restrictions’ Impact On The Toiletries Market

Strict regulations by government agencies on the use of certain ingredients in cosmetics are expected to act as a key restraint on the market. These ingredients are prohibited due to their toxicity and possible skin diseases due to their use. The EU Cosmetics Regulations list substances that cannot be used and also those that can be used only in specified circumstances. Similarly, the US Food and Drug Administration (FDA) prohibits or restricts a list of ingredients in cosmetics. These prohibited substances include bithionol, chloroform, mercury compounds, methylene chloride, vinyl chloride, and chlorofluorocarbon propellants.

Global Toiletries Market Trend: Surge In Natural And Organic Products In Toiletries Products

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.

Global Toiletries Market Trend: Innovative Beauty Products And Smart Melanin Technology

Major companies operating in the toiletries market are introducing innovative beauty products such as smart melanin technology to gain a competitive edge in the market. The Smart Melanin technology that are introduced in the beauty products address hyperpigmentation and sun spots specifically in people of color. For instance, in May 2021, Eadem, US-based provider of beauty products launched its flagship dark-spot serum with Smart Melanin technology, formulated specifically for more melanin-rich skin tones. The Smart Melanin technology helps offer clean beauty that’s tested on a range of skin shades with less toxic chemicals.

Regional Insights For The Global Toiletries Market

The Asia-Pacific region was the largest market for toiletries in 2023, followed by Western Europe as the second-largest market. The global toiletries market is experiencing robust growth, with distinct characteristics and drivers across different regions.

1. Asia-Pacific: With a large population and strong demand from younger consumers, the region holds significant growth potential, driven by the rapid expansion of e-commerce channels.

2. Western Europe and North America: These regions emphasize environmental sustainability, eco-friendliness, and high-end personalized products, making the market highly competitive.

3. Latin America: The rising middle class and increasing penetration of international brands are fueling growth in demand for toiletries.

4. Middle East and Africa: The combination of a young population and affluent consumer groups is driving demand for premium and beauty-focused products.

This article references insights "Toiletries Global Market Report", published by The Business Research Company on October 2024.