This year’s Top 20 Global Beauty Companies report is out — and, in the words of Jean-Paul Agon, chairman and CEO, L’Oréal: “Beauty has never looked this good.”

Beauty sales jumped over the past year for more than half of the companies on the list. 

L’Oréal tops the list this year, with $31.2 billion in beauty sales. Unilever has taken the #2 spot, with $24.8 billion, followed by the Estée Lauder Companies, which comes in at $13.7 billion.

Beauty Packaging’s editor-in-chief Jamie Matusow writes: “…the future for the industry seems bright…the latest figures from Orbis Research show that the global cosmetic products market is growing and is expected to reach a value of $805.61 billion by 2023.”

And, Matusow reports, “According to L’Oréal, the global beauty market grew 4-5% in 2017, in part due to a resurgence in skincare. Cosmetic industry sales, in general, remain driven by the luxury consumer market, in particular affluent U.S. and Chinese consumers, both at home, online and through travel retail.”

Take a look at the rest of the top 20 lineup — and each company’s profile, which is linked on this list, in the feature Top 20 Global Beauty Companies: ‘Beauty Has Never Looked This Good.’