Home  /  Top Trends in the Health&Beauty Industry.

Top Trends in the Health&Beauty Industry.

What's next? Global trends in a snapshot

Home  /  Top Trends in the Health&Beauty Industry.

Top Trends in the Health&Beauty Industry.

What's next? Global trends in a snapshot

The Health&Beauty sector

Steady growth is expected for the Health&Beauty sector, following a significant decline two years ago, according to GlobalData estimates. Specifically, during 2021, the sector recovered its pre-pandemic size globally and is expected to register further growth in both volume and value by the end of 2022, at 2.5% and 5.1%, respectively (Fig. 1).

Highlights

  • Consumers are still spending more time in their homes than before the pandemic, but a slow but steady return to workplaces and an increase in social events is driving market growth.
  • The market is expected to see faster growth in value than in volume, driven by inflationary pressures that are driving up the cost of energy and raw materials.
  • Brands that want to pass cost increases on to consumers will have to show transparency and justify these increases by emphasizing, for example, value for money.

Regarding individual geographic areas:

  • Asia continues to lead the global cosmetics industry in both volume and value, thanks to the size of its population and a consumer market with increasingly sophisticated needs, particularly in countries such as China and South Korea.
  • The traditional markets of the Americas and Western Europe immediately follow those of Asia and still retain their strategic importance.

New trends in the Health&Beauty industry.

The recent Global Consumer Survey conducted by GlobalData* identified the 5 trends that will shape the Health&Beauty industry for the coming years.

Home treatments

  • The number of beauty treatments performed at home is growing (Fig. 3), and consumers are discovering new products through e-commerce and digital platforms.

The COVID-19 pandemic has impacted consumer behavior and will continue to influence the Health&Beauty industry as, increasingly, people prefer home-based beauty treatments over specialized facilities. As a result, the demand for products to be used directly at home has increased.

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