Hair, Cosmetics, Skincare, and Perfume

The article presents an overview of the global beauty industry in 2024, highlighting various companies, their sales performances, and major industry trends. The beauty industry achieved sales of $252.09 billion in 2024, marking an increase of 2.8% from the previous year. Key highlights from the article include:

1. Top Companies and Sales Performance:

   • L’Oréal remains the largest beauty company, contributing 18.7% to the total sales.
   • Puig entered the top 10 for the first time, showing significant growth due to strong performance in fragrance and skin care.
   • Proya became the first C-beauty firm to reach the Top 30 global beauty companies.
   • E.l.f Beauty and Cosnova became new billionaire brands with substantial sales growth.

2. Industry Challenges and Trends:

   • The growth rate of the beauty industry slowed down compared to previous years, influenced by geopolitical tensions, technological advances, and a complex consumer landscape.
   • Many companies experienced slower growth, with only a few achieving double-digit gains.
   • The ongoing slowdown in China posed significant challenges for several companies.

3. Stock Market Dynamics:

   • The stock market was challenging for the beauty industry, with only 15 out of 49 listed companies seeing an increase in share prices.
4. New Entrants and Innovations:
   • Newcomers like D&G Beauty, Mao Geping, and AS Beauty made their mark with innovative strategies and product launches.
   • The article also mentions several companies restructuring their operations and portfolios to focus on high-potential categories and improve efficiency.

Overall, 2024 was a year of modest growth for the global beauty industry, with certain companies outperforming others through strategic innovations and market expansions.