Top 10 world’s largest cosmetics companies for 2020 (2023)

The beauty industry has been transforming faster than ever and will continue to do so through the 2020s. Though there are some submarkets like the mass beauty markets that are making an exception, the overall growth of the market will remain sustainable. Even multi-brand stores are thriving well in the market, unlike the stores in other consumer sectors that are struggling to thrive. According to Stefano Curti, the global president of Markwins Beauty Brands, half of the growth of the cosmetics industry is driven by e-commerce practices. That implies the other half is in stores.

These are the three unique conditions that continue to supplement the cosmetics business:

  1. Consumers, mostly women, experiment with beauty. They enjoy finding new beauty products and brands. This is a part of a massive generational shift of younger influencers and consumers rejecting well-known beauty brands their parents favored and seeking out natural, artisanal, and locally-made products in all consumer categories. The need to post a review on Instagram at all times also makes a difference.
  2. Young beauty brands are always seeking out new ideas and supporting a surge in creativity. For these independent brands, a new concept regarding how to get or remain beautiful everyday matters. Entrepreneurship is building over in the cosmetics industry, supported by the brick-and-mortar beauty channel.
  3. Major companies are acquiring beauty companies of smaller caliber at very high values, which, in turn, is attracting more entrepreneurs and driving more creativity every day. Major cosmetics companies are threatened by young and independent brands that consumers prefer now, resulting in more number of acquisitions.

As per Straits Research's latest report on the cosmetics ODM market, the overall market accounted for over USD 6.37 billion in terms of value in 2018 and is projected to grow at a CAGR of 12.8% during the forecast period, 2018-2026. Some of the world’s largest cosmetics companies — including Estée Lauder, Procter & Gamble, and L'Oréal — are all adopting technologies like artificial intelligence (AI) and augmented reality (AR) to give customers a more personalized, tailored approach to beauty.

The top ten cosmetic companies globally are briefly discussed below, with an emphasis on their recent developments.


Top 10 world’s largest cosmetics companies for 2020 (1)L’Oréal is the no. 1 beauty company in the cosmetics industry, with its annual beauty product sales of over USD 29.4 billion. The company sells products in all cosmetic categories, including makeup, skincare, haircare, sun care, fragrances, and hygiene products. The company is growing at a rapid pace with high sales from most of its famous brands, including L’Oréal Paris, Maybelline New York, Softsheen, and Garnier.

L’Oréal also owns luxury brands including Yves Saint Laurent, Kiehl’s, Lancôme, and Giorgio Armani and beauty product distributors such as The Body Shop. The company also owns popular haircare brands such as Matrix, Kérastase, Pureology, and Redken. L’Oréal has acquired several global beauty brands over the years — including Valentino, Modiface, Puplriot, Stylenanda, Nyx Cosmetics, Ralph Lauren, Essie, Urban Decay, and more — which is driving the Group’s long-term growth.

Estée Lauder:

Top 10 world’s largest cosmetics companies for 2020 (2)
The U.S.-based Estée Lauderis among the world's leading manufacturer of makeup, skincare, fragrance, hair care products. Since its inception in the 1940s, Estée Lauder has built a palette of classic and complementary brands through its long streak of targeted acquisitions. The company holds a diverse portfolio of more than 25 global brands sold in 150 countries under brand names including Estée Lauder, Clinique, Tommy Hilfiger, Bobbi Brown, Prescriptives, Michael Kors, Donna Karan New York, Tom Ford, DKNY, Smashbox, Jo Malone London, Aramis, GLAMGLOW, M·A·C, Darphin, Editions de Parfums Frédéric Malle, Too Faced, and more.

Procter & Gamble:

Top 10 world’s largest cosmetics companies for 2020 (3)
Procter & Gamble (P&G) is a U.S.-based multinational consumer goods company, also known for its classic, high-end beauty products. The company manufactures and sells quality skincare and hair care products, including Olay, Pantene, Head & Shoulders, Scope, Crest, Ivory, Safeguard, Old Spice, Secret, Oral-B, Art of Shaving, Aussie, Gillette, Herbal Essences, and more. In 2019, P&G had annual product sales of over USD 67.7 billion, which is up significantly from the USD 66.7 billion of the previous year.

Coty Inc:

Top 10 world’s largest cosmetics companies for 2020 (4)
Coty Inc. is a U.S.-based multinational beauty manufacturer of color cosmetics, fragrance, professional hair care products. The company operates through three segments — Luxury, Consumer Beauty, and Professional Beauty. In 2019, the Consumer Beautysegment contributed the lion's share with USD 3.53 billion, followed by the Luxury and Professional Beauty segments with USD 3.29 billion and USD 1.81 billion. For the entire fiscal year, the company recorded annual sales of over USD 8.64 billion.

Coty owns several consumer beauty brands, including Adidas, Beyonce, Clairol, CoverGirl, Enrique, David Beckham, Katy Perry, Max Factor, Rimmel, Risque, Sally Hansen, Younique, Wella, and more. Some of its popular luxury brands include Alexander McQueen, Burberry, Davidoff, Chloe, Calvin Klein, Miu Miu, Marc Jacobs, Stella McCartney, and Cavalli.


Top 10 world’s largest cosmetics companies for 2020 (5)
Cosmax is a global cosmetics ODM manufacturer that also specializes in health functional food research, development, and production. At present, the company’s beauty products are used by a quarter of the world’s 7.8 billion people. Cosmaxpartners with 15 of the top 20 cosmetics companies in the world.

On March 16th, 2020, Cosmax announced the launch of a new line of sun care products that are manufactured using microbial materials discovered by NASA. The discovery of two microbial strains, Bacillus and Deinococcus, by NASA a decade ago inspired Cosmax to conduct experiments on them and thereby develop a UV protection material called Solarbiome and file a patent application on it. Cosmax said its Solarbiome-based cosmetics would be sold in the form of cream, primer, ampoule, and fluid later this month.


Top 10 world’s largest cosmetics companies for 2020 (6)
Shiseido is a Japanese multinational personal care company that has been a manufacturer of color cosmetics, fragrance, hair care, sun care, skincare, body care products for over 145 years. Some of its well-known brands include Za, Bare Essentials, Senka, Sea Breeze, Anessa, and Nars Cosmetics. Its annual sales for 2018 was USD 10.2 billion. In January 2018, Shiseido acquired all the assets of Olivo Labs to supplement its cosmetics and personal care business.


Top 10 world’s largest cosmetics companies for 2020 (7)

The Germany-based Beiersdorf is one of the world’s largest and oldest cosmetic companies with a diverse range of personal care products such as body care and skincare brands. The company’s most famous brands include Nivea, La Prairie, Hidrofugal, Gammon, Atrix, Coppertone, Maestro, Florena, Eucerin, Hansaplast, and Labello. In 2019, the company recorded sales of over USD 8.42 billion.

Amore Pacific:

Top 10 world’s largest cosmetics companies for 2020 (8)
Amore Pacific is a renowned name in the K-beauty industry, operating over 30 natural beauty, personal care, and health brands, including Sulwhasoo, Laneige, Mamonde, Etude, Lolita Lempicka, Annick Goutal, and Innisfree. In 2002, the company launched its line of beauty products and slowly made a name for itself in the cosmetics industry, profiting from the K-beauty trends in recent years. Amore Pacific posted USD 5.6 billion in sales in 2018.

Kao Corporation:

Top 10 world’s largest cosmetics companies for 2020 (9)
Kao Corporation is a chemical and cosmetics manufacturer that is listed in the Forbes ranking as a USD 34.4 billion company. The company’s beauty suite of products includes color cosmetics, facial and body cleansers, skincare, and hair care products. Some of its famous brands include Jergens, Bioré, and Goldwell. Kao Corporation strengthened its hair care business with the acquisition of Oribe Hair Care, LLC, in December 2018. The Japanese company also acquired John Frieda’s Professional Hair Care business for a staggering USD 450 million.

Intercos S.P.A:

Top 10 world’s largest cosmetics companies for 2020 (10)
Intercos S.p.A. is a leading cosmetics company specialized in the manufacture and marketing of color cosmetics, pencils, nail polish, skincare, and personal care products. It is also one of the major cosmetics ODM players in the research, development, and production of beauty products in the world. In August 2017, the company acquired Cosmint Group S.p.A. to strengthen its personal care business.

Top 10 world’s largest cosmetics companies for 2020 (11)

Cosmetics ODM Market Size and Future Forecast To 2026

- Cosmetics ODM Market was valued at USD 6373 million in 2018
- 2020-2026 at of CAGR A 12.8%
Top 10 Cosmetics Companies in the world
- North-America is growing at CAGR of 12%
- Skincare segment is exptected to hold 28% share

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