The demand for beauty and personal care products is growing because they have become an integral part of everyday personal grooming. Also, increasing investments in research and development for new and desired products should bode well for the industry’s growth.
Despite multi-decade high inflation, increasing disposable income and a rise in the employment rate of women are the key factors that should help the industry generate substantial growth. The global beauty and personal care products market is expected to expand at a 7.7% CAGR from 2022 - 2030. Also, the extensive availability of beauty and cosmetic products through online and retail sales channels has been helping the industry generate substantial sales.
