Globally, the beauty 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. And $784.6B by 2027.
The kindling? Rapid expansion through digital channels and the attraction of more customers willing to pay higher prices for higher quality.
As emerging nations grow in purchasing power and become globalized, they offer budding promise for international companies to enter — if they bring higher quality products than those available locally along with them.
By geography, Asia Pacific and North America dominated; accounting for more than 60% of the total.