Summary of our market study

The French cosmetics market is valued at over €12 billion

The global cosmetics market has shown resilience and returned to growth following the impact of the Covid-19 pandemic in 2020, which led to a significant 17% drop in beauty product sales in France in the first half of the year. As the market recovers, the global cosmetics industry is estimated to be worth over $262 billion in 2022, with an expected annual growth rate of 4.2% for the coming years.

The European cosmeticsmarket, of which France is a major contributor, represents 22% of the global market.

France occupies a strong position in this market, with a substantial trade surplus and major players such as L'Oréal, which participates in a concentrated market dominated by industry giants.

The market is segmented into skin care, hair care, fragrances and make-up, with skin care leading the way. Innovations are driving the market, with the organic and men's cosmetics sectors showing dynamic growth.

The French cosmetics market is particularly characterized by its fragmentation and the presence of a multitude of SMEs, which are adapting to changing consumer demand for more natural and organic products.

While in-store sales remain a primary channel for cosmetics purchases in France, online sales are gaining in importance, significantly influenced by beauty influencers and social platforms.

Dynamic trends and changing demand in the French cosmetics market

The French cosmetics market is renowned for its excellence and innovation, with leading companies such as L'Oréal and Yves-Rocher driving international demand, particularly from emerging economies such as India and China.

The market has been severely impacted by the Covid crisis. In the first half of 2020, lipstick sales fell by 75% in the first six months, and by 26% for the year as a whole.

However, the French cosmetics market continues to show a positive trajectory, benefiting from a significant trade surplus.

This strong demand has enabled the market to remain dynamic and grow, despite intense competition and concentration between the major cosmetics giants that dominate the market. These giants must constantly innovate to meet the changing preferences of consumers, who are increasingly concerned about the environment and product transparency.

Growing consumer interest in organic and natural products has been a game-changer for the industry, forcing many manufacturers to introduce organic product lines into their product ranges.

In Europe, the cosmetics market is worth around 80 billion euros, with France playing a leading role, particularly in the design and manufacture of skincare and make-up products.

The sector is supported by over 1,000 companies in Europe, with France boasting the largest number of SMEs in the industry. These SMEs often occupy niche markets, such as organic and ethnic cosmetics.

Cosmetics sales in traditional supermarkets and hypermarkets have declined, but these retail giants still hold almost half the market share of cosmetics sales.

Online sales are growing. The influence of social networks and beauty influencers is also changing purchasing behavior.

Cosmetics prices, influenced by raw material costs and production expenses, have been trending upwards. However, prices for body care products are relatively stable.

Pioneers and innovators: profiles of key players in the cosmetics industry landscape

The global cosmetics market is highly diversified, with major global brands and a large number of niche and local players.

  • L'Oréal: With a heritage spanning more than a century, L'Oréal is a beacon of the industry. L'Oréal's omnipresence in the market is reinforced by its commitment to sustainable development and technology.l'Oréal's omnipresence in the market is reinforced by its commitment to sustainable development and technology, as evidenced, for example, by its acquisition of a stake in Debut Biotech, a synthetic biology company at the forefront of the creation of environmentally-friendly, resource-saving products.
  • Unilever: Another titan in the field, Unilever's beauty and personal care division boasts a vast array of brands that resonate with consumers worldwide. Unilever maintains a presence in various segments, from high-end skincare lines to basic personal hygiene products.
  • Procter & Gamble (P&G): The consumer goods giant has a significant market share thanks to its strong range of skin care, hair care and toiletry products.
  • Yves-Rocher: Emblem of the botanical beauty movement. With its roots in the heart of Brittany, France, the brand exemplifies the blend of tradition and modernity.
  • Fareva: Less recognized by the public, Fareva has strengthened its position on the international scene with a range of skincare and make-up products.
  • Cosmetic Valley: Cosmetic Valley is France's leading perfume and cosmetics cluster in Europe and worldwide. It groups together 150 companies and 7,000 employees. It brings together all the industry's know-how, from plant cultivation to finished products. Cosmetic Valley in the Orléans region is the world's leading resource for cosmetic expertise. This competitiveness cluster accelerates the industry's growth through its strong support for start-ups and its commitment to encouraging collaborative efforts in research and development.
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Summary and extracts

1 Market overview

1.1 Presentation and definition

In France, cosmetic products are defined by article L.5131-1 of the French Public Health Code as "any product intended to be placed in contact with the superficial parts of the human body, with a view to cleaning, perfuming, modifying the appearance of, protecting, maintaining in good condition or correcting body odors ". This category therefore includes skincare products (moisturizers, anti-wrinkle creams, body moisturizers, etc.) and make-up products (foundations, powders, varnishes, mascaras, etc.).

France enjoys a significant competitive advantage in this market, with representative companies in the sector such as L'Oréal and Yves-Rocher exporting and benefiting from very dynamic demand in emerging countries such as India. However, the market is highly competitive and concentrated in the hands of a few cosmetics giants, who must constantly innovate and reinvent themselves to keep pace with changing consumer needs, and hinder the entry of a growing number of small, specialized players. Growing interest in issues such as the environment and transparency, with greater attention being paid to product origin, is enabling new entrants to position themselves on the market. As a result, many manufacturers are now offering organic products in response to strong demand in recent years.

With the Covid-19 crisis and pandemic-related restrictions (teleworking, wearing masks, etc.), sales of beauty products fell by around 17% over the first six months of 2020, with a different impact depending on the different market segments. [LCI] Hygiene-related products are up on 2019, while the lipstick market has suffered a 75% drop in sales over the first six months and 26% over the whole period. [LCI] However, the market now seems to be showing good momentum, with the global market set to grow by over 4% annually in the years ahead, and the French market enjoying a substantial trade surplus.

 

 

1.2 The global cosmetics market

The global cosmetics market is valued at over $*** billion in **** according to Grand View Research, and is expected to continue growing at an annual rate of *.*% in the years ahead. This gives us the following estimates:

World cosmetics market World, ****-****, in billions of dollars Source: Grand View Research * forecasts

Historically, ...

1.3 Europe, the world market leader

In ****, the European cosmetics market is estimated at ** billion euros. [***]

European cosmetics markets Europe, ****, in billions of euros Source: ****

The most buoyant segments in the European market are :

Skin care and toiletries Hair care Fragrance Make-up

The weights of these different segments are represented in the graph below, with the skin ...

1.4 France, a leader in European and global markets

The French cosmetics industry benefits from strong foreign demand. French cosmetics exports will reach $**.* billion by ****. Roughly three-quarters of the sector's exports will be for skincare and fragrances.

While French exports of cosmetics are destined for countries all over the world, exports to Asian markets are particularly strong exports to Asian ...

1.5 The impact of COVID-19 on the cosmetics market

Perfumes and color cosmetics have seen a sharp decline in ****, but overall demand for beauty products remains strong, as consumers turn instead to the skincare, hair care and personal care categories in ****, all of which are less disrupted by new Covid-** routines and lend themselves well to online discovery and purchase.gories ...

2 Demand analysis

2.1 Cosmetics consumption in France

Almost all women are consumers of cosmetics, which is not necessarily the case for men. Around **% of women say they have already used a common cosmetic product (***), while the penetration rate of cosmetics among men was only **% in ****. [***] Yet products for men are booming, as we'll see in the rest of ...

2.2 End consumers increasingly sensitive to product composition

Consumers are increasingly wary of the cosmetics and food industries, and are paying more and more attention to product quality and the sustainability of the value chain. The Yuka start-up responds to consumers' need for transparency by, for example, enabling cosmetics and food products to be scanned and classified according to ...

2.3 The development of "home-made" products

Alongside the trend for organic products, the fashion for "homemade" cosmetics is attracting more and more consumers, and represents a new threat to traditional players in the cosmetics industry [***]. numerous beauty blogs and YouTube channels promote this "Do It Yourself" practice, inviting users to master the manufacture of their own products ...

2.4 Men's cosmetics market on the rise

According to a report by Persistence Market Research, the global market for men's skin care products is expected to grow at a compound annual growth rate of *% between **** and ****. The following global estimates can be provided:

Evolution of the global men's cosmetics market World, ****-****, in millions of euros Source: ****

In ...

3 Market structure

3.1 A fragmented market with an international reputation

A dense industrial fabric fueled by an international reputation

France has a reputation for excellence in terms of know-how and product quality in the cosmetics production sector[***]

On the one hand, subsidiaries of major groups with large production sites and R&D centers, such as L'Oréal and Pierre Fabre, both ...

3.2 Specialized players bound by demanding specifications

In addition to the production subsidiaries of major groups, whose business is sustained and boosted by the brand's image, the many industrial cosmetics manufacturers who subcontract on behalf of the various brands and distributors are bound by ever more demanding, rapidly evolving specifications.in addition, the many industrial cosmetics manufacturers who ...

3.3 Investments in innovation and modernization of production tools

Whether they are subsidiaries of major groups or SME subcontractors for distributor companies, all market players, bound by the requirements mentioned above, logically focus their biggest investments on two key competitive factors:

Innovation and R&D, enabling them to offer a flexible, tailor-made product range, adapted to distributors' requirements and evolving ...

3.4 Cosmetics production

The costs

The cost of the cosmetic shapingprocess depends on a number of factors. The nature of the formula chosen is essential, since it will determine a series of factors influencing the price charged by the shaper:

The choice of raw materials; The choice of natural or organic products; The quality ...

3.5 A decline in cosmetics sales in supermarkets and hypermarkets, which remain the leading distribution channel

Distribution of finished cosmetics is generally handled by the customer, not the manufacturer.

To do this, cosmetics groups rely on several distribution segments, targeting distinct customer groups depending on the nature and range of their products. Supermarkets and hypermarkets (***) account for around half of cosmetics salesof cosmetics sales, offering a full ...

4 Offer analysis

4.1 The different categories of cosmetics

Cosmetics converting covers all the products traditionally associated with the sector. In fact, groups using subcontractors for their finishing activities do so indiscriminately for different types of products:

Skincare products (***), which include moisturizers, anti-wrinkle creams, suncare products, hand and foot creams and body moisturizers; Make-up, including eyeshadows, foundations, powders, nail polishes, ...

4.2 Innovations in cosmetics production

While the major cosmetics groups distinguish themselves by marketing top-of-the-range products, players in the shaping industry are trying to stand out by establishing themselves in niche markets, of which the following are a few examples:

The medical aesthetics sector

At a time when cosmetic surgery operations are costly and have recently ...

4.3 Consumer prices for cosmetics

With regard to the price of cosmetics in France more generally, the consumer price of beauty products has already been rising for several years according to Insee figures, and, like many consumer goods, has also undergone inflation in ****.

Consumer price index for cosmetics (***) France, ****-****, base *** in **** Source: ****

Consumer prices for ...

5 Regulations

5.1 Regulations governing products from manufacture to distribution

Pre-marketing regulations

These are detailed by :

The French National Agency for the Safety of Medicines (***) and health products; Regulation (***) n°****/**** of the European Parliament and Council of November **, **** on cosmetic products since July **, ****; The French Public Health Code (***).

Before a cosmetic product can be marketed, it must be able to meet ...

6 Positioning the players

6.1 Segmentation

The following segmentation of market players is used:

  • Robertet
  • Alkos Cosmétiques Groupe
  • Alpol Cosmétiques
  • Codexial Dermatologie
  • Fareva
  • Laboratoires Lebeau
  • Laboratoires Prevost
  • Laboratoire Science & Nature
  • Lorcos
  • Phytocosma
  • SICAF
  • Skinlys
  • Technature
  • Sephora
  • Nocibé (Douglas Groupe)
  • Marionnaud France
  • Caudalie
  • Pierre Fabre
  • Galderma
  • Weleda
  • Revlon
  • Rocher Groupe (Yves Rocher)
  • Rituals Cosmetic
  • Clarins Groupe
  • Beiersdorf
  • Berdoues
  • Sisley
  • Unbottled
  • Rogé Cavaillès
  • Cofatech
  • Gilbert Groupe
  • Aesop (L'Oréal groupe)
  • Vabel Groupe - Sarbec Cosmetics
  • La Prairie
  • Anjac Health and Beauty

List of charts presented in this market study

  • Annual growth rates for cosmetic products
  • Market share of cosmetics by region
  • Turnover of the most important players in the cosmetics market
  • Global cosmetics market
  • Number of SMEs in the cosmetics market by country
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Latest news

Unbottled accelerates its store rollout - 13/04/2024
  • - A second outlet has been opened on rue des Abbesses, in Paris.
  • - The brand aims to be listed in around 500 pharmacies by the end of 2024.
  • - Sales for 2023 exceeded 10 million euros.
  • - The brand hopes to record double-digit growth for the current year.
Clarins relies on its boutiques to grow in the United States and China - 05/04/2024
  • - Purchase of the Serraval estate in 2016. - Acquisition in February of 150 hectares of land near Nîmes, including 50 hectares of arable land.
  • - Investment of 135 million euros in a new production site in Troyes.
  • - Clarins vertically integrates one third of its plant production.
  • - Global cosmetics market: 4.5% growth last year.
  • - In China (20% of Clarins sales): 11% increase in activity in the last six months of 2023.
  • - In the United States (the world's leading beauty market): 15% increase in activity last year.
  • - Online activity in China representing 47% of sales.
  • - More than fifty physical points of sale in China, representing a third of the global network of Clarins stores.
  • - Acquisition of American "clean beauty" brand Ilia for $150 million.
Luxury: the Clarins family invests in hotels - 27/02/2024
  • - Famille C Participations (FCP) has invested €130 million in Evok Collection.
  • - The "experiential luxury" market could reach 2.5 trillion euros by 2030, with annual growth of 4-8%.
  • - The French Clarins brand employs 9,000 people and claims to be Europe's number one in high-end skincare.
  • - Clarins is forecasting sales growth of 15% to 2022, with a value of 1.75 billion euros.
  • - Clarins has around fifty hotel spas worldwide.
  • - FCP's objective is to open 15 hotel establishments in five years.
  • - Evok Collection has six addresses in Paris and Venice.
Groupe Rocher's low-carbon strategy recognized by ESSEC business school - 15/02/2024
  • Groupe Rocher becomes the first Company to Mission in 2019.
  • Groupe Rocher was awarded the Essec Grand Prix for Responsible Commerce in the "Reducing environmental impact" category.
  • The group has 16,000 employees.
  • The group generated sales of around 2.4 billion euros.
  • The group has embarked on an industrial reorganization plan involving the loss of 300 jobs in Brittany
  • . The group's Ploërmel plant, which employs 90 people, has been put up for sale.
Robertet aims to convert India to natural flavors - 05/01/2024
  • Robertet has acquired 85% of the capital of Sonarome, an Indian company.
  • Sonarome generates sales of 15 million euros.
  • Robertet generates 15% of its sales in Asia.
  • Robertet achieves sales of 703 million in 2022.
  • 80% of Robertet's sales are generated outside France and 65% outside Europe, with a very strong presence in the United States.
  • Robertet has forecast record growth of 16% in 2022.
  • Robertet employs 2,200 people worldwide, including a thousand in France.
Guillaume Darrousez (Yves Rocher): "Make the brand more profitable, desirable and sustainable" - 10/12/2023
  • Yves Rocher has achieved sales growth of +9.4% in 2022.
  • There are a total of 2,300 Yves Rocher stores worldwide, including : - 660 in France - 400 in Russia - 240 in Turkey
  • 90% of Yves Rocher stores are franchised or managed.
  • Groupe Rocher achieved sales of €2.4 billion in 2022, down 14% over two years.
  • The total number of sales outlets (boutiques and resale outlets) is 5,800, representing two-thirds of the Group's business.
  • Digital sales account for 10% of Group sales.

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Robertet
Alkos Cosmétiques Groupe
Alpol Cosmétiques
Codexial Dermatologie
Fareva
Laboratoires Lebeau
Laboratoires Prevost
Laboratoire Science & Nature
Lorcos
Phytocosma
SICAF
Skinlys

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