Cosmetics and their raw materials must be safe for consumers under the conditions of use. Safety assessments for some toxicological endpoints and efficacy evaluation of raw materials have relied on animal studies for a long time. However, in addition to animal welfare concerns and regulatory measures, more human-relevant data without animal testing have led to a new approach to safety assessment. As animal testing for safety evaluation of cosmetics and its raw materials is prohibited, various alternative test methods have been developed and used. Recently, interest in efficacy evaluation and safety confirmation systems using artificial skin models as alternative for animal testing is increasing. In this study, latest research trends for alternative animal testing methods for cosmetic safety evaluation were reviewed, and the limitations and directions for improvement of the current alternative animal testing methods were investigated. In addition, the current status of cosmetic efficacy evaluation research using artificial skin model and guidelines for evaluating the functional efficacy of existing cosmetics were investigated.