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For the fiscal year ending March 31, 2026, cosmetics company e.l.f. Beauty registered sales amounting to approximately *** billion U.S. dollars. This is the highest figure registered over the recorded time period. 

The rise to popularity

Since its foundation date in 2004, e.l.f. Beauty has quickly risen in popularity, especially among younger consumers. In 2025, e.l.f. ranked first as U.S. Generation Z’s favorite cosmetics brand, and all the while its popularity in the North American country is steadily increasing. The secret to its success lies in its promotional strategies, especially through the use of social media such as TikTok, and the production of beauty products that are affordable for all consumers, as well as cruelty-free and clean.

The cruelty-free market

In recent years, the interest of consumers has shifted toward more natural and clean products. Since then, beauty brands have been asked to do more: in 2021, a significant share of buyers worldwide valued “no harming of animals” as one of the most important responsibilities for a beauty brand. The global market value for cruelty-free makeup is expected to increase by 2031, reaching about **** billion U.S. dollars, doubling from just ten years before.