Largest Cosmetic Companies in the World
The multibillion-dollar global cosmetics market is expected to expand by 4.4% in 2024, bringing total revenues to $108.4 billion.
What companies are driving these rising sales worldwide? Here’s a look at the top cosmetic companies ranked by their market values.
Biggest cosmetic companies by market value
- L'Oréal: $252.75 billion
- Estée Lauder: $52.81 billion
- Givaudan: $38.96 billion
- ULTA Beauty: $26.68 billion
- International Flavors & Fragrances: $19.58 billion
- Kaō: $17.64 billion
- Coty: $11.26 billion
- Shiseido: $11.25 billion
- e.l.f. Cosmetics: $11.19 billion
- Amorepacific: $5.28 billion
1. L'Oréal: $252.75 billion
According to recent data, L'Oréal is currently the world's largest cosmetics company. As of March 2024, the French company has a market value of $252.75 billion. It owns popular brands including Maybelline, Garnier, and Urban Decay. This marks a 5% fall from its $266.18 billion valuation at the end of 2023. L'Oréal’s current market capitalization also accounts for more than half of the combined values of the top 10 cosmetics companies, highlighting the brand’s dominance.
2. Estée Lauder: $52.81 billion
Second on the ranking of the largest cosmetics companies is Estée Lauder. The New York–headquartered business is valued at $52.81 billion. Despite being in second place, its value is around one-fifth of L'Oréal’s, highlighting the French company’s dominance in the global cosmetics industry.
3. Givaudan: $38.96 billion
Estée Lauder is followed by Givaudan, a Swiss company popularly known for its fragrance products. Its market capitalization currently stands at $38.96 billion.
4. ULTA Beauty: $26.68 billion
Another US company, ULTA Beauty, formerly known as Ulta Salon, Cosmetics & Fragrance Inc., is the fourth-largest cosmetic company in the world. As of March 2024, its market value is $26.68 billion, a 12.1% increase from the end of 2023.
5. International Flavors & Fragrances: $19.58 billion
International Flavors & Fragrances makes up the five largest cosmetic companies in the world, with a market value of $19.58 billion.
6. Kaō: $17.64 billion
Sixth on the list is Japan’s Kaō, which is valued at $17.64 billion. Aside from cosmetic products, the company also owns brands related to household goods and pet care products.
7. Coty: $11.26 billion
Coty, which has products from popular cosmetics brands like Vera Wang, Nautica, and Lacoste in its portfolio, is in seventh place. Its market capitalization is $11.26 billion.
8. Shiseido: $11.25 billion
Another Japanese company, Shiseido, is close behind, with $11.25 billion. Founded in Tokyo in 1872, Shiseido also owns popular brands such as NARS and Ulé.
9. e.l.f. Cosmetics: $11.19 billion
Shiseido is followed by US company e.l.f. Cosmetics, with a value of $11.19 billion. These nine companies mentioned so far are the only ones whose current value is worth more than $10 billion.
10. Amorepacific: $5.28 billion
South Korea’s Amorepacific rounds out the 10 biggest cosmetic companies. It has a market cap of $5.28 billion.
Biggest cosmetic companies: summary
US companies make up half of the list of the 10 largest cosmetics companies in the world. This should come as no surprise, considering the US currently is the biggest beauty and personal care market, with revenues hitting $97.81 billion in 2023. Of the remaining five largest cosmetic companies, two are from Europe and three are from Asia.