No other product group has had a bigger impact on beauty standards and the associated beauty industry in general than cosmetics. Cosmetics are chemical compounds made specifically to either protect and clean or enhance the appearance of the respective user’s skin in certain or several body parts. Personal care or Skincare cosmetics are those that protect and cleanse, Decorative cosmetics are those that enhance the appearance of one’s skin. While Cosmetics have been around for centuries, they have now evolved into a billion-dollar industry that is constantly growing, with many of the top cosmetic companies generating sales of billions of dollars around the world.
From creams to lotions, from shampoos to conditioners, from perfumes to deodorants, lipsticks to eyeliners, and from foundations to mascaras, cosmetics have become an essential part of many people’s daily routines. The industry is also quite dynamic, with many new formulas and products being developed on a yearly basis. The largest cosmetic companies usually own several beauty and cosmetic brands that cater to specific target groups, usually divided by gender, age group, or specific skin type. In any case, the brands of these big cosmetic companies are usually well-known in the entire world and sold in drugstores, cosmetic shops, or wherever else cosmetics are sold around the world.
The following ranking lists the Top 10 largest beauty and cosmetic companies in the world by revenue achieved by the cosmetic companies and their respective beauty and cosmetic brands.
The 10 Largest Cosmetic Companies in the World 2023
Main cosmetic brands owned by L’Oreal:
L’Oréal is the largest cosmetic company in the world, with an impressive portfolio of brands that cater to a diverse range of customers. The French company has been in operation for over a century and has established itself as the absolute leader in the global beauty industry. L’Oréal’s continuing success can be attributed to its commitment to innovation and quality. The company invests heavily in research and development to create new or improve existing products. With a presence in over 150 countries, L’Oréal has a significant global reach that allows it to connect with customers from all walks of life. From makeup to skincare, hair care, and fragrances, L’Oréal’s cosmetic offerings are essentially complete across its many brands.
Main cosmetic brands owned by Unilever:
Unilever is one of the largest general consumer goods companies in the world, with a portfolio of over 400 brands. Through its many cosmetic brands, the British company is hence also the second-largest cosmetic company in the world. Unilever operates all over the world, with a focus on the production and distribution of food, beverages, cleaning agents, and many types of personal care products. Among Unilever’s most popular cosmetic brands are Dove, Suave, and St. Ives. Unilever also has a particularly strong presence in the deodorant market with brands like Axe/Lynx and Rexona/Degree/Sure belonging to the most widely used deodorants in the world.
3. Estée Lauder Companies
Main cosmetic brands owned by The Estée Lauder Companies:
The Estée Lauder Companies is another leading company in the cosmetics industry, especially renowned for its higher-class makeup, fragrance, and other decorative cosmetic products. Founded by businesswoman Estée Lauder in 1946, the American company has grown to become a major global player in the beauty sector, with a portfolio of more than 20 brands. Estée Lauder Companies’ products are sold in more than 150 countries. Aside from the company’s leading position in the global makeup market, Estée Lauder also offers a wide range of products in other cosmetic segments through its many brands, such as skincare and fragrance.
4. Procter & Gamble
Main cosmetic brands owned by Procter & Gamble:
Procter & Gamble, commonly known as P&G, is the largest consumer goods company in the world. With a history dating back to 1837, the American company nowadays specializes in a wide range of consumer goods, including cosmetics and beauty products, thanks to which P&G also belongs to the largest cosmetic companies in the world. P&G’s portfolio of beauty products includes a wide range of personal care products, including oral and skin care products. The company is particularly leading in the haircare segment with well-known brands such as Head & Shoulders, Herbal Essences, and Pantene, which are used by millions of consumers around the world.
Main cosmetic brands owned by Colgate-Palmolive:
Colgate-Palmolive completes the top five of the largest cosmetics companies in the world. The American consumer goods company offers various types of personal care products, but also household, and pet nutrition products. The company was established in 1928 through the merger of toothpaste company Colgate and soap company Palmolive-Peet. Today, Colgate-Palmolive’s portfolio includes a wide range of cosmetic products, with a special focus on skincare and particularly oral care products, in which the company is leading in the global market.
Main cosmetic brands owned by Shiseido:
Shiseido comes sixth in the ranking of the largest cosmetic companies in the world. It is the largest cosmetic company in Asia and has been a leading player in the Asian beauty industry for decades now. Founded in 1872, the Japanese company has been a traditional household name in Japan and Asia for quite some time, but in more recent years has also managed to establish itself in the global market. From skincare to haircare, Shiseido offers a wide range of beauty products through its many different brands that cater to different target groups and preferences.
7. LVMH Moët Hennessy Louis Vuitton
Main cosmetic brands owned by LVMH Moët Hennessy Louis Vuitton:
LVMH Moët Hennessy Louis Vuitton, commonly known as LVMH, is the world’s largest manufacturer of luxury goods, owning some of the biggest luxury brands in the world. The Paris-based French company has also made a significant impact in the world of cosmetics and thus also belongs to the largest cosmetic companies in the world. LVMH owns a wide number of brands of luxury cosmetics and perfumes which all highly focus on quality and elegance. LVMH, in particular, is the market leader when it comes to luxury fragrances, but is also among the leaders in other segments of the luxury cosmetics market, such as skincare and makeup.
Main cosmetic brands owned by Beiersdorf:
Beiersdorf is another well-established company in the cosmetics industry that has been around for over a century. The German company is particularly known for its skincare creams, lotions, and balms, but also other personal care products. Beiersdorf owns several brands with different product focuses, of which the company’s flagship Nivea brand is the most well-known across the world. The company’s skincare products include multiple cosmetics designed for specific skin areas and body parts as well as products for specific uses, such as sunscreen creams.
9. Natura & Co
Main cosmetic brands owned by Natura & Co:
Natura & Co comes ninth in the ranking of the largest cosmetic companies in the world. The Brazilian company is the by far largest South American cosmetic company. It was founded in 1969 and has had a dominant position in its home market and other South American countries for quite some time now. Recently, the company has begun to also enter markets outside of Latin America, particularly the European one, increasingly turning Natura & Co into a global manufacturer of cosmetics of different sorts. Natura & Co’s brands specifically focus on fragrances as well as skin and hair care cosmetics.
Main cosmetic brands owned by Coty:
Coty completes the Top 10 of the largest cosmetic companies in the world. The American company traces its roots back to 1904 when French perfumer, businessman, and politician François Coty started to mass produce fragrances for middle-class women and thus made sure that fragrances became affordable for a higher number of people and not just the rich. The company has since relocated to the United States and is now the largest manufacturer of fragrances in the world. Through its many brands, Coty is now, however, also offering various other types of cosmetics, including skincare and makeup products. The company is also known for its regional brands as well as for producing cosmetics for many non-cosmetical companies under licensing agreements.
The Top 10 Largest Cosmetic Companies in the World 2023
(as of March 2023)
|Top 10 Largest Cosmetic Companies in the World|
Worldwide cosmetic sales: $36.5 billion
Worldwide cosmetic sales: $25.9 billion
|3. ESTEE LAUDER|
Worldwide cosmetic sales: $17.7 billion
|4. PROCTER & GAMBLE|
Worldwide cosmetic sales: $14.7 billion
Worldwide cosmetic sales: $11.2 billion
Worldwide cosmetic sales: $8.2 billion
Worldwide cosmetic sales: $7.7 billion
Worldwide cosmetic sales: $7.1 billion
|9. NATURA & CO|
Worldwide cosmetic sales: $6.9 billion
Worldwide cosmetic sales: $5.3 billion
|Top 10 largest cosmetic companies in the world by revenue. Only cosmetic sales are counted in the ranking, revenue generated in other branches of business a company may be involved in, is disregarded here. Source for general revenue figures: dun&bradstreet, source for the cosmetic segment sales is the annual reports published by the companies.|