The global beauty industry is booming.
With fragrance, makeup and skin care sales all on the rise, pandemic-induced slowdowns have steadily loosened their grip on many markets worldwide.
Stateside, NielsonIQ said there has been a shift toward mid-price-point products across segments in the beauty category, while the NPD Group reported that the volumes of brick-and-mortar sales have been higher for prestige brands than online sales.
However, not every market is looking as rosy. Declines have been reported in China, with cities across the country facing COVID-19 lockdowns. Such restrictions stunted growth in the region for The Estée Lauder Cos., among others.
Data compiled by Jeffries shows China’s cosmetic sales experienced slowdown in December 2021, down from 8.2 percent in November to 2.5 percent year-over-year.
Pandemic, inflation and war aside, consumers have been spending more money on beauty and personal care products than at the start of the pandemic.
Here, Euromonitor’s top 10 beauty markets, as ranked by size.
- U.S.
- China
- Japan
- Brazil
- Germany
- U.K.
- France
- India
- South Korea
- Italy
Lauder Sales Soar, Even With China Lockdowns
2021’s Top 100 Global Beauty Manufacturers
What Today’s Sustainable Shoppers Are Looking For
Source: WWD
