According to the report by Grand View Research, the global beauty and personal care products market is projected to reach 716.6 billion dollars by 2025, with a compound annual growth rate (CAGR) of 6.2% during the forecast period.
These are the reasons for its growth:
More products for specific needs
With the advance of technology, consumers are increasingly looking for beauty and personal care products that meet their specific needs. Personalization is becoming one of the main trends, with brands offering more tailored solutions based on consumers' skin type, skin tone, lifestyle or personal concerns.
Sustainable and Eco-Friendly Beauty
Sustainability continues to be a dominant force in the global cosmetics market. Brands are focusing on creating products with natural and organic ingredients, recyclable packaging and production processes that minimize environmental impacts. Consumers are increasingly demanding the origin of products and the transparency of brands.
Growth of Male Beauty
The market for men's cosmetics is growing significantly as more men are concerned with skincare, haircare and aesthetic health. Skincare products, such as anti-ageing creams and shaving products, are becoming increasingly popular, driving the overall growth of the beauty market
The Influence of Social Media and Influencer Marketing
Social media continues to play a central role in the cosmetics market. Digital platforms such as Instagram, TikTok and YouTube have a direct impact on the way consumers discover new products and set trends
Expansion of Emerging Markets
Emerging markets, especially in Asia, Latin America and Africa, are playing an important role in global growth. With the rise of the middle class and greater urbanization, demand for cosmetics is growing in these markets.
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