At the Rencontres Ingrecos event held in Paris on March 17, 2025, Jean-Marc Giroux, President of Cosmed, presented an overview of the current state of the cosmetics industry. Here is a summary of the key points of his presentation.
“The cosmetics industry is doing well. That’s the first takeaway. But since 2024, and especially in 2025, its growth has slowed. It has dropped from 7% to 5%,” Jean-Marc Giroux summarizes in his introduction. “Traditionally, the cosmetics sector is the last to enter a crisis and the first to emerge from one.”
This slowdown can be attributed to several factors: global political uncertainties weighing on consumer confidence, a high savings rate in anticipation of perceived difficulties, and rapidly intensifying international competition.
For example, in South Korea, the number of cosmetics brands has risen from 1,000 to 30,000 in ten years.
A relative slowdown in France
Ranked eighth globally in 2024 with $16.8 billion, France drops to ninth place in 2025 with $17 billion, representing growth of just 1.2% (the lowest among the top 10). “We mustn’t misinterpret this. The market is growing. But we are the country growing the least,” clarifies Jean-Marc Giroux.
In exports, however, France retains its position as the global leader with $25.4 billion in 2024, ahead of the United States ($15 billion) and Ireland ($12.2 billion). The trade balance remains largely positive.
Among major groups, L’Oréal tops the international rankings with …
