Cosmetics Market to Reach US$ 497.2 Bn by 2031, Growing at 7.4% CAGR: Wissen Research

Detailed summary

SHERIDAN, Wyo., Nov. 12, 2026 /PRNewswire/ -- How big is the cosmetics market, and what is driving its growth? The global cosmetics market is valued at USD 348 billion in 2026 and…

The global cosmetics market is valued at USD 348 billion in 2026 and is projected to reach USD 497.2 billion by 2031, growing at a CAGR of 7.4% over the forecast period (2026–2031), according to a new study by Wissen Research.

The base demand is steady: rising disposable incomes, growing consumer spending on beauty and personal care, and greater awareness of skincare, sun protection, and anti-ageing. A growing number of men are also using skincare, haircare, and grooming products, which widens the target market.

The report points to two newer contests beyond the shelf. The first is who gets recommended when a shopper asks an AI assistant what to buy. The second is who has the science behind the formula. In 2026, L'Oréal and OpenAI announced a collaboration on AI-powered consumer journeys and agentic commerce, while The Estée Lauder Companies and Coty each signed partnerships aimed at brand visibility across generative AI platforms. At the same time, epigenetic, probiotic, and proteomics-based products are moving into mainstream skincare.

Get a Free Sample of This Report to Explore Key Findings and Data: https://www.wissenresearch.com/request-a-sample/?report=global-cosmetics-market

Brands Now Compete for Recommendations from AI Assistants, Not Just from Shoppers

Beauty discovery is moving into AI. On June 17, 2026, L'Oréal and OpenAI announced a collaboration covering AI-powered product discovery, agentic commerce, research, science, and marketing, including plans for Maybelline New York virtual try-on within ChatGPT using ModiFace technology. The competition is not only about shopper-facing tools. On September 14, 2026, The Estée Lauder Companies announced a global partnership with Profound to monitor and optimise how its brands are represented across generative AI platforms, and on October 27, 2026, Coty announced a partnership with Brandlight to strengthen brand discovery across AI assistants and generative AI search platforms.

The report sees this as a sign of…

Science…

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