The global cosmetics market has grown consistently since 2004, reaching a value of USD 676.9bn in 2023 and an estimated USD 716.2bn in 2024, dominated by major multinationals like L’Oréal, Unilever, and Procter & Gamble. While niche and challenger brands have emerged, only a few—such as Fenty Beauty, The Ordinary, Winona, and Adolph—have scaled beyond USD 400m in global retail sales.
The sector remains resilient against economic turbulence, with key trends including shifting geographical growth strategies, increased demand for wellness and sustainable products, Gen-Z’s preference for authenticity and diversity, and continued attractiveness for M&A. Geographic and channel expansion is crucial for newer entrants to gain market share.
In this article we investigate the trends in cosmetic patent filings over the past decade. We explore global patenting hotspots and reflect on why intellectual property considerations in the cosmetics industry is of paramount importance.
Read the report here.
