To ensure safety and efficacy, cosmetic products are regulated and controlled worldwide. However, the regulatory approaches of each country may be significantly different and impact the competitiveness and economic viability of the industry. This work presents an updated review and comparison of regulatory requirements from the European Union, United States of America, Canada, Japan, People’s Republic of China and Brazil. It outlines contents such as the definition, classification and categorization of cosmetics, pre-market requirements, ingredients management, general labelling requirements, regulation of claims concerning advertisement and commercial practices, increase of animal testing and marketing bans on cosmetic products. Furthermore, it weighs the impact of regulatory differences on the safety and accessibility of these products in the mentioned regions.