What is the future of the beauty industry?

Total global beauty industry spending in 2020 was $483 billion, and the annual total is expected to top $716 billion by 2025. Historically, the lion’s share of beauty products have been purchased in brick-and-mortar stores, but that’s changing rapidly, with online sales projected to make up 48\% of the total by 2023.

Is the cosmetics industry growing?

Beauty Industry Statistics and Market Research: Global & US. Globally, the industry is strong and only getting stronger. How big is the beauty industry? Up from $483B in 2020 to $511B in 2021 — and with an annual compounded growth rate of 4.75\% worldwide — it’s predicted to exceed $716B by 2025.

Will the beauty industry survive?

Based on the scenarios most expected by global executives and current trends, we estimate global beauty-industry revenues could fall 20 to 30 percent in 2020. In the United States, if there is a COVID-19 recurrence later in the year, the decline could be as much as 35 percent (Exhibit 3).

What does the beauty industry need 2021?

Digital LED masks, which have surged in popularity during the pandemic, will also continue to evolve in 2021. “We have seen a huge increase in performance skincare and high-tech tools, specifically with LED and microcurrent devices,” Net-A-Porter’s Global Beauty Director Newby Hands tells us.

How much is the beauty industry worth in 2021?

The global beauty industry market is valued at $511 billion in 2021. The beauty and personal care market will hit a jaw-dropping market size of $716.6 billion by 2025. The US cosmetic market is worth a staggering $62.46 billion.

Is the cosmetics industry profitable?

Within the cosmetics category in the U.S., eye cosmetics was the most profitable segment. In 2020, about 1.96 billion U.S. dollars were generated from sales of eye cosmetics in the U.S. Facial cosmetics was the second most profitable segment, with sales revenue of 1.9 billion U.S. dollars.

Who is the target market for cosmetics?

Cosmetics includes a wide range of products from skincare items to makeup and beauty items. These are items that predominantly appeal to women and women are more likely to purchase beauty products than men; even though some men are interested in cosmetics.

Are makeup sales down during the pandemic?

Sales of all beauty products are down 25 percent in the last six months compared to last year, according to NPD, but that doesn’t mean the beauty industry isn’t finding a way to adapt or that consumers aren’t buying products, including some that cost hundreds of dollars.

Who buys the most makeup?

TABS Analytics’ second annual U.S. Cosmetics Study found that millennial women (ages 18 to 34) are the heaviest buyers of beauty products in the $13 billion cosmetics market (market size excludes skin care and hair care products).

What are the most popular beauty treatments 2021?

8 Popular Beauty Treatments For 2021

• HydraFacial.
• Microdermabrasion.
• CBD Facial Treatment.
• Dermaplaning.
• Lash Lift & Tint.
• Fat Freezing.
• Laser Hair Removal.
• Semi-Permanent Makeup.

How much is the beauty industry worth 2021?

What trends will change the future of beauty and cosmetics in 2021?

This trend will change the future of beauty and cosmetics in 2021. Transparency will be among the top priorities of different brands. The customers want to know what they are using, and these brands are willing to offer them a detailed report of all the ingredients and chemical formulas used in the products.

Why work in the European cosmetics industry?

The European cosmetics industry plays a leading role in product development and is a science-driven and highly innovative sector. Our R&D programmes delve into all imaginable aspects of beauty and well-being, from investigating consumer behaviour and beauty aspirations, the biology of skin,…

What is driving the growth of the global cosmetics market?

There is a considerable rise in disposable incomes over the past decade. The growth in global economies, changing lifestyles, rising demands of skin and sun care products due to varying climatic conditions encourages the growth of the market for cosmetics.

What is the future of the global K-beauty market?

According to the experts, the global k-beauty market is expected to show a massive boost of 11.3\% before 2026. L’Oréal will stay on top of cosmetic companies with more than $30 billion as its annual revenue.