Melissa Juried Kriebel
In this article, we discuss the 14 biggest beauty companies in the world. If you want to read about some more beauty companies, go directly to 5 Biggest Beauty Companies In The World.
The beauty industry has successfully navigated the multiple challenges posed by the pandemic crisis and the subsequent economic slowdown of the past two years and is now on a path from recovery towards growth. The importance of the beauty market to the global economy can be judged by the $100 billion in sales revenue that the industry generates worldwide every year. Top beauty firms have faced intense competition over the recent past as consumers are equipped with greater bargaining power due to the rise of online shopping trends.
This has pushed beauty firms to become more dynamic and innovative to meet the changing consumer demands, as per Brand Finance. This year, an appreciable recovery has been witnessed in terms of brand value of the top 50 beauty brands as compared to last year. However, this growth is still yet to reach the levels witnessed before the onset of the pandemic in 2020. According to the Top 20 Global Beauty Companies 2021 Report, the biggest beauty companies in the world are The Procter & Gamble Company (NYSE:PG), The Estée Lauder Companies Inc. (NYSE:EL), and Unilever PLC (NYSE:UL).
These were picked from a careful assessment of the beauty industry. The details of each beauty company are mentioned alongside a discussion around top firms in the sector in order to provide readers with some context for their investment decisions.
Biggest Beauty Companies In The World
Amorepacific, a South Korean company, founded in 1945, is one of the biggest beauty firms in the world with sales worth $4.4 billion. The company has above 20 luxury and daily care beauty products and heath care brands such as Amore Pacific, Primera, Goutal Paris, Hanyul, Sulwhasoo, Mamonde, Innisfree, Laneige, Sienu, Etude, Hera, IOPE, and Lirikos.
The company gained global prominence and consumer attention through a diversified online channel portfolio and innovative digital marketing in recent years.
Just like The Procter & Gamble Company (NYSE:PG), The Estée Lauder Companies Inc. (NYSE:EL), and Unilever PLC (NYSE:UL), Amorepacific is one of the biggest beauty brands in the world.
LG, a South Korean company, founded in 1958, is also one of the biggest beauty brands in the world with sales worth $4.8 billion. LG has a cosmetics, hair care and skin care range which includes major brands such as The History of Whoo, CNP, O Hui, Belif, Beyond, SU:M37, Code Glokolor, Veilment, Dermalift, CNP Rx, Isa Knox, Sooryehan, Dr. Belmeur, VDL, Vonin, Carezone, The Saga of Xiu, TheFaceShop, FMGT, Nature Collection, Elastine, Organist, Reen, Yehwadam, Silk Therapy, and Gentology.
LG has also introduced vegan beauty cosmetics, namely The Crème Shop in 2021, which has been a success despite the uncertain economic global environment. This year, in May, LG setup its new research and development (R&D) center in Hokkaido, Japan, with a prime focus on microbiome beauty products. The company’s top management has highlighted its plans to establish a natural fermentation production system and introduce different microbiome ingredients at the R&D center.
Kao, the Japanese beauty company, founded in 1887, is a beauty industry giant with sales worth $5 billion. Kao engages through its two business segments which are consumer products and chemical products. The major brands of the company are Curél , freeplus, Athletia, Kanebo, Sofina iP, Molton Brown, RMK, Kate, Kao Sekken White Sensai, Suqqu, Asience, Bioré, Cape, Blauné, Guhl, Jergens, Liese, Essential, John Frieda, Kms, Merit, Rerise, Segreta, My Kirei, Success, Goldwell, and Oribe. It has also introduced its new products such as Sensai Absolute Silk Illuminative Cream, Goldwell Rainbow Dye, Sensai Contouring Lipstick and Allie Chrono Beauty Line.
Although the global pandemic period affected the company’s growth, but the net sales improved in 2021. Since March 2022, the company has joined the global call for support in the Ukraine crisis. It has made huge donations up to $502,000 to UN agencies in this regard. Kao has also donated essentials for refugees such as personal hygiene items, sanitary items as well baby diapers.
11. Coty Inc. (NYSE:COTY)
Coty Inc. (NYSE:COTY), a French-American multinational, founded in 1904, is a top beauty firm with sales worth $5.3 billion. The company has a vast range of products including fragrances, color cosmetics, skincare as well as body care products for both its luxury and consumer range. Luxury brands of the firm include Kylie Jenner, Alexander McQueen, Bottega, Chloé, Marc Jacobs, Gucci, Escada, Burberry, Calvin Klein, Veneta, Davidoff, Hugo Boss, and Philosophy. The company has brands such as Adidas, CoverGirl, Max Factor, Sally Hansen, Rimmel, and Nautica.
Coty Inc. (NYSE:COTY) has gained momentum in the US market since 2021 through its ecommerce and innovative strategies. This year, in April, Coty Inc. (NYSE:COTY) pulled out from the Russian market after the country’s invasion of Ukraine. In May 2022, the actress, Kim Kardashian closed down her fragrance brand KKW Fragrance, in order to re-introduce it under a new name as the actress’s initials have changed after her divorce. Notably, the company owns a 20% stake in Kardashian’s KKW Beauty and KKW Fragrance.
Beiersdorf, a German multinational, founded in 1882, is a prominent beauty firm with sales worth $7 billion. The major brands it owns are Nivea, La Prairie, 8×4, Labello, Eucerin, Aquaphor, Florena, SlekMaestro, Atrix, Gammon, Hidrofugal, and Coppertone. Some of the latest additions to the company’s product range are Nivea MagicBars, Eucerin Dermo-pure Serum, Nivea Men Sensitive-Pro Ultra-Calming facial skin care, Nivea EcoRefill hand soap, and Pure & Simple sunscreen spray. The company believes that its skincare segment helped in reaching the sales targets which was primarily possible due to E-commerce activities.
The company’s main brand is Nivea, which resulted in sales growth of 5.5% in the year 2021. Another brand, La Prairie, generated higher than expected sales for the company in the post-pandemic year. This year, in June, the company partnered with Borealis, Clariant and Siegwerk, to minimize plastic waste in order to reduce climate change impact.
9. Natura & Co Holding S.A. (NYSE:NTCO)
Natura &Co Holding S.A. (NYSE:NTCO), a Brazilian multinational, founded in 1969, is a major beauty firm with sales worth $7.1 billion. The major brands it owns are Natura, Aesop, The Body Shop and Avon. The new brands launched recently are Aesop: Exalted Eye Serum, Natura: Biome body and shampoo bars; and The Body Shop: White Musk fragrance range, breath, boost and sleep wellness collection.
The company’s executive chairman and CEO, Roberto Marques, has stated that he has strong faith in the resilience of the company to remain on the growth track in 2022-2024. Despite facing a challenging 2020-2021, the CEO expressed his confidence in the sustainable profitable growth, and further indicated the overall sales climbing 8.8% with more than half of the revenues coming through digitally enabled sales of the company.
LVMH, a luxury brands company, founded in 1987, is another top beauty company with sales worth $7.5 billion. It is a France-based company having its top line range in perfumes and beauty products, such as Christian Dior. This year, Miss Dior Roses N’Roses, J’adore Infinissime perfumes, and Rouge Dior make-up resulted in improved performance. The company is known as one of the world’s largest luxury products conglomerates. Interestingly, the company owns several luxury brands such as Tag Heuer, Louis Vuitton, Givenchy, Tiffany & Co., Bvlgari, Acqua Di Parma and Marc Jacobs Beauty.
7. Johnson & Johnson (NYSE:JNJ)
Johnson & Johnson (NYSE:JNJ), a U.S.-based multinational, founded in 1886, is one of the biggest beauty firms in the world with sales worth $7.7 billion. The major brands in beauty range it owns are Johnson Baby Products, Dabao, Le Petite Marseillais, Aveeno, Clean & Clear, OGX, Lubriderm, Neutrogena, Vivvi, Bloom, Lubriderm Extra Dry Skin Advanced Therapy, Neutrogena Clear Coverage makeup, Neutrogena Stubborn Acne & Marks Treatments and Sundown.
6. Bath & Body Works, Inc. (NYSE:BBWI)
Bath & Body Works, Inc. (NYSE:BBWI), a U.S. based multinational, founded in 1990, is a top beauty firm with sales worth $7.9 billion. The product range includes personal care fragrances, lotions, body creams, shower gels; candles, hand sanitizers, liquid hand soaps, and home fragrances diffusers. The latest range includes Fall in Bloom Fine Fragrance Mist, Cinnamon Sandalwood Body Wash and Foam Bath and Sweet Whiskey Ultimate Hydration Body Cream.
In 2021, the company officially separated from Victoria’s Secret to become an independent brand which turned out to be a wise decision. The sales rose to $7.9 billion which is a 22% increase from previous year. However, the pandemic period affected the company’s overall growth, it still managed to increase its presence globally through digital platforms and expanding buy-online-pick-up-in-store, called BOPIS model, which further enhanced the online presence and increased the customer base of the firm.
In addition to The Procter & Gamble Company (NYSE:PG), The Estée Lauder Companies Inc. (NYSE:EL), and Unilever PLC (NYSE:UL), Bath & Body Works is one of the biggest beauty brands in the world.
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Disclosure. None. 14 Biggest Beauty Companies In The World is originally published on Insider Monkey.