Is selling skincare profitable?

Is selling skincare profitable? [Updated 2023] statistics

Updated : 15th, July 2023

Yes selling skincare products are very profitable. find out why it is profitable. the Deep dive into the most asked question in Skin care industry.

Is selling skincare profitable in 2023?

With all the inflation rate and high competition is it still profitable to sell skincare products in 2023

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Accepted Answer :

Yes selling Skincare is profitable in 2023.  Global cosmetics market experienced impressive growth of over 16% in 2022 compared to the previous year and  projected revenue estimated to reach around 188 billion U.S. dollars by 2026. Below is a detailed breakdown of why is it profitable.

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Hey there, skincare enthusiasts! Have you ever wondered if selling skincare products can be a profitable venture? Well, get ready to dive into the world of beauty business because I'm about to spill the tea on the profitability of the skincare industry! Let's explore the stats, trends, and exciting opportunities waiting for you in this thriving market.

The Skincare Boom: A Lucrative Market

Revenue of the cosmetics market worldwide from 2014 to 2027
Revenue of the cosmetics market worldwide from 2014 to 2027

  According to Statista industry reports , the global cosmetics market experienced impressive growth of over 16 percent in 2022 compared to the previous year. Among the various categories, skincare stood out as the leading contender, capturing a whopping 41 percent of the global market. Can you believe it? That's a significant slice of the beauty pie!

Leading the Way: Skincare's Revenue Potential

Skincare is not just popular but incredibly profitable too! With projected revenue estimated to reach around 188 billion U.S. dollars by 2026, it's safe to say that the skincare business is brimming with financial potential. Talk about a golden opportunity to make your mark in the beauty industry!

Power Players: Leading Companies in the Beauty Realm

When we talk about beauty industry giants, names like L'Oréal, Unilever, and Procter & Gamble Co. come to mind. These multinational corporations dominate the production of cosmetics and beauty products, generating billions in revenue each year. L'Oréal, in particular, stands out as the top beauty manufacturer worldwide, boasting revenues of about 35 billion U.S. dollars in 2021. Wow, that's some serious skincare success!

Social Media Influence: Igniting the Skincare Frenzy

Do you ever find yourself getting lost in beauty content on Instagram and YouTube? Well, you're not alone! Social media platforms have revolutionized the beauty game, creating a massive demand for skincare products and connecting consumers with their favorite brands. Influencers like Sandra Cires Art, with over 16.3 million YouTube subscribers, have fueled the skincare craze with their makeup tutorials, skincare hauls, and product recommendations. It's safe to say that social media has become the go-to destination for beauty enthusiasts worldwide!

The United States: A Skincare Haven

In the United States, skincare is more than just a routine—it's a way of life! With a skincare market revenue of approximately 17.6 billion U.S. dollars in 2020, the U.S. takes the crown as the most lucrative skincare market globally. Facial cleansers and acne treatments are the reigning champions, selling millions of units each year. Clearly, Americans take their skincare seriously!

Embracing Youthfulness: The Anti-Aging Skincare Market

Everyone wants to look forever young, right? That's why the anti-aging skincare market continues to flourish. In the United States, this market segment is projected to experience significant growth between 2020 and 2026. As a result, innovative anti-aging products are hitting the shelves, promising to turn back the clock and keep us looking fabulously youthful!

Consumer Behavior: The Skincare Obsession

It's no secret that skincare has captured the hearts of beauty enthusiasts across all age groups. In a recent survey, 41 percent of Gen Z shoppers (aged 18 to 24 years) revealed that skincare is their top beauty category. But it's not just them—skincare ranked as the most shopped-for beauty category overall, with a whopping 65 percent of respondents regularly using skincare products. Quality and skin compatibility were key factors influencing purchasing

Google Trends for Skincare
Google Trends for Skincare

Google Trends data also indicates a strong upward trend in interest in the skincare industry over the past five years. The search volume for skincare-related terms has grown by approximately 50 to 100 percent, further suggesting the profitability and increasing popularity of the industry.

Is Skincare Profitable in Australia in 2023?

Yes selling skincare is very profitable In 2023, the revenue in the Australian Skin Care segment is estimated to reach a staggering US$1,670.00 million. That's right, mate—big bucks are flowing into the skin care market! And the best part? It's projected to grow annually by 3.72% from 2023 to 2027. That's some steady growth, giving you plenty of room to shine in the ever-expanding Australian skin care scene.

Global Comparisons: The Power of the United States

When it comes to skin care revenue on a global scale, the United States takes the crown, generating a whopping US$21,090.00 million in 2023. It's like a skincare kingdom over there! But fear not, Aussies—there's still plenty of room for success and profitability in the Australian market. So, let's get those entrepreneurial spirits soaring!

Per Person Revenues: Skincare Dollars Down Under

In 2023, the per person revenue generated in the Australian skin care market amounts to US$63.41. That's how much each Aussie contributes to the booming skin care industry. So, whether you're a skin care aficionado or an aspiring entrepreneur, there's a slice of the skincare pie waiting for you!

Non-Luxury Goods: The Australian Skincare Trend

By 2023, a whopping 86% of sales in the Australian Skin Care segment will be attributed to Non-Luxury goods. That means affordable, accessible, and everyday skincare products are stealing the spotlight. It's all about providing high-quality skincare solutions that cater to everyone, from the beauty connoisseurs to the skincare newbies.

So, my Aussie friends, seize the opportunity and dive into the thriving Australian skin care market. With steady revenue growth, the chance to make your mark, and a preference for non-luxury goods, it's time to unleash your entrepreneurial spirit and ride the wave of success!


  • Amanda Smith

    I've always wondered about the profitability of skincare. Thanks for the insights!

  • J@ckie_89

    Wow, 41% of the global market? Skincare is really booming!

  • Brian O'Conner

    I've noticed the skincare trend on social media. It's everywhere!

  • Isabella Torres

    The stats on the U.S. skincare market are impressive. I had no idea it was such a big industry here.

  • Mik3y

    Great read!

  • Sophia Nguyen

    I've been thinking of starting my own skincare line. This article is super encouraging!

  • Lucas M.

    Is the growth in the skincare industry sustainable in the long run?

  • Olivia_R

    I'm curious about the skincare trends in other countries. How does Australia compare to Europe or Asia?

  • Ethan_Jones

    The anti-aging market is huge! I've seen so many new products in that category recently.

  • Ava_S

    I wonder how the pandemic affected the skincare industry?

  • Liam.W

    The influence of social media on the beauty industry is undeniable. It's changed the game for sure.

  • MiaT

    I'd love to see a breakdown of the most popular skincare products in the U.S.

  • Ben10

    Why is skincare so popular among Gen Z?

  • Emma_L

    I've noticed a lot of indie skincare brands popping up. It's great to see smaller businesses thriving in this industry.

  • Noah.K


  • Charlotte_D

    I think sustainability and eco-friendly products will be the next big trend in skincare.

  • James.P

    I've been using skincare products for years and I can attest to their benefits. It's no wonder the industry is doing so well.

  • Amelia_B

    I'd be interested in a deep dive into the ingredients used in skincare products and their benefits.

  • Oliver_G

    Skincare is not just for women. As a guy, I've seen the benefits of a good skincare routine.

  • Harper_F

    I think the rise of K-beauty has also played a big role in the global skincare boom.

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