The cosmetic industry is a significant contributor to environmental pollution, releasing a wide array of emerging pollutants (EPs) into aquatic ecosystems through its effluents. These EPs, including microplastics, synthetic fragrances, UV filters, and preservatives, originate from various cosmetic products and have been increasingly detected in surface water, municipal wastewater, groundwater, and even drinking water sources. The presence of EPs in these environments poses significant risks to both ecological integrity and human health, necessitating urgent mitigation efforts. This review critically evaluates existing mitigation strategies aimed at reducing the environmental impact of EPs from cosmetic industry effluents. It examines the multifaceted nature of the issue, highlighting the need for comprehensive approaches that encompass regulatory, technological, and collaborative efforts. Regulatory measures are essential for setting standards and enforcing compliance to limit the discharge of harmful chemicals into water bodies. However, technological advancements are equally crucial, with the adoption of advanced treatment processes such as advanced oxidation processes, membrane filtration, adsorption, and biodegradation, offering effective means of removing EPs from effluents. Moreover, raising public awareness about the environmental impact of cosmetic industry effluents is paramount to driving collective action and encouraging consumer demand for eco-friendly products. By implementing and continually refining these mitigation strategies, stakeholders can work towards safeguarding ecosystems and promoting a more sustainable future for generations to come. This comprehensive review provides valuable insights for researchers, policymakers, industry stakeholders, and consumers alike, emphasizing the importance of concerted efforts to address the challenge of emerging pollutants from cosmetic industry effluents.