Largest Cosmetic Companies in the World
The multibillion-dollar global cosmetics market is expected to expand by 4.4% in 2024, bringing total revenues to $108.4 billion.
What companies are driving these rising sales worldwide? Here’s a look at the top cosmetic companies ranked by their market values.
Biggest cosmetic companies by market value
According to recent data, L'Oréal is currently the world's largest cosmetics company. As of December 2023, the French company has a market value of $253.3 billion. It owns popular brands including Maybelline, Garnier, and Urban Decay. This marks a 32.9% rise from its $190.5 billion valuation at the end of 2022. L'Oréal’s current market capitalization also accounts for more than half of the combined values of the top 22 cosmetics companies, highlighting the brand’s dominance.
Second on the ranking of the largest cosmetics companies is Estée Lauder. The New York–headquartered business is valued at $47.72 billion. Despite being in second place, its value is around one-quarter of L'Oréal’s, highlighting the French company’s dominance in the global cosmetics industry.
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Estée Lauder is followed by Givaudan, a Swiss company popularly known for its fragrance products. Its market capitalization currently stands at $35.52 billion. Another US company, ULTA Beauty, and International Flavors & Fragrances make up the five largest cosmetic companies in the world, with market values of $24.01 billion and $19.32 billion, respectively.
Sixth on the list is Japan’s Kaō, which is valued at $18.23 billion. Another Japanese company, Shiseido, is close behind, with $10.67 billion. Coty, which has products from popular cosmetics brands like Vera Wang, Nautica, and Lacoste in its portfolio, is in eighth place. Its market capitalization is $10.29 billion. These eight companies mentioned so far are the only ones whose current value is worth more than $10 billion.
This is followed by another US company, e.l.f. Cosmetics, with a value of $6.92 billion. South Korea’s Amorepacific rounds out the 10 biggest cosmetic companies. It has a market cap of $5.83 billion.
US companies make up half of the list of the 10 largest cosmetics companies in the world. This should come as no surprise, considering the US currently is the biggest beauty and personal care market, with revenues hitting $98 billion in 2023. Of the remaining five largest cosmetic companies, two are from Europe and three are from Asia.