Indies Surge Ahead: A New Competitive Landscape Emerges
Independent beauty brands are experiencing explosive momentum, vastly outpacing their larger counterparts. Indie dollar sales grew 22.3% year over year, compared to just 6.1% for conglomerates—highlighting a widening performance gap.
Their agility, trend‑driven innovation, and ability to resonate quickly with emerging consumer preferences have made Indies a growing force across nearly every beauty category, reaching $40.0B in annual sales. While the growth gap may be widening, conglomerates are benefiting from higher loyalty among their buyers and are seeing higher rates of exclusivity compared to Indies.
Category Breakouts Reveal Where Indies Win Most
Indies are leading growth across multiple high‑interest segments, with especially strong performance in fragrance (46% growth vs. conglomerates at 11%), facial skincare (23% vs. 3%), and cosmetics and nail (21% vs. 4%).
These gains reflect Indies’ strength in storytelling, ingredient transparency, and rapid response to cultural and aesthetic trends. Looking at category dollar share, Indies account for 32% of total beauty & personal care sales with higher shares in facial skin care and hair care. Indie fragrance shows strong growth but is under shared compared to total beauty & personal care.
Unlock the full Indie beauty landscape
E‑Commerce Levels the Playing Field—But Creates New Challenges
70% of all Indie beauty sales occur online, underscoring the power of digital discovery, social commerce, and influencer‑driven trial. Indies are also seeing stronger in‑store growth than conglomerates, despite holding far less physical shelf space—showing that when given visibility, they convert exceptionally well. Conglomerates still have the upper hand when it comes to in-store retail distribution, with 2–3x more shelf space across most major categories.
The Future Favors Flexibility, Creativity, and Community
As Indies grow through increased trips and deeper consumer engagement, conglomerates continue to lean more heavily on pricing as their primary driver of dollar growth. This difference in strategy highlights a shifting power dynamic: consumers are rewarding brands that bring novelty, authenticity, and a sense of discovery.
The full report dives deeper into how Indies sustain momentum, where conglomerates retain advantages, and which channels and behaviors will shape the next phase of beauty competition.
Turn Indie momentum into your competitive advantage
