The global cosmetics market has seen relatively stable growth over the past 10 years, with L’Oréal coming out on top as the leader of the market, according to EY’s annual survey of the luxury and cosmetics industry titled, ‘Seeking sustainable growth: The luxury and cosmetics financial factbook 2015 edition’.

Growing by 3.8 percent over the past ten years, the total market value grew from EURO 127 billion in 2005 to a projected EURO 181 billion in 2014. The only slow down was seen in 2008 and 2009 respectively, which were classed as the ‘crisis years’.

It’s seems the resilience of the market has been attributed to consumer behaviour around the market and the need for cosmetics remaining stable. In terms of categories, skin care came out on top, taking 35 per cent of the market, followed by hair care at 23 percent. Make up and fragrance came in 17 percent and 13 percent respectively with hygiene reaching 11%.

The top seven companies were led by L’Oréal, which is larger than the top seven put together, at EURO 93 billion in market capitalisation. Rounding up the top five companies were Estee Lauder (EURO 29 billion capitalisation), Beiersdorf (EURO 18 billion capitalisation), Coty, Shiseido in second, third, fourth and fifth place respectively.

L’Oréal has two divisions that account for 76 percent of the group’s revenue and 90 percent of the EBIT; Consumer Products and L’Oréal Luxe.

Most cosmetics have been sold in Asia Pacific, which represents 35 percent of the whole market, followed by Western Europe at 22 percent, North America at 21 percent, and Latin America at 12 percent. Eastern Europe rounds off the group with 7 percent.