The global beauty care market registered a steady Compound Annual Growth Rate (CAGR) of 4.5 percent through 2013-2018. The beauty industry was affected by the 2009 recession, but recovered quickly by 2010 as the global economy improved marginally. The industry clocked revenues worth USD 379 billion in 2013, which is anticipated to reach USD 461 billion by 2018. The global beauty care market is classified into two sub segments - premium and mass products. In 2010, the mass products segment of the global beauty care market comprised more than 70 percent, while the premium segment accounted for nearly 28 percent of the total sales.
The global skin care market clocked revenues worth USD 83 billion in 2013 and with a CAGR of 5 percent through 2013-2018; the market is anticipated to garner revenues worth USD 106 billion in 2018. The facial care segment dominates the market pie with a share of more than 50 percent. Geographically, Asia-Pacific accounts for nearly 45 percent of the overall revenue generated from the skin care segment.
The upturn of the global economy and the consequent rise in disposable income among consumers both in the developed and the emerging markets has propelled robust growth of the hair care market. Young people are becoming more fashion conscious and are turning to hair styling and colouring products to express their individuality. According to industry experts, the global hair care market is characterized by nearly 10,000 launches per year, representing the dynamic nature of the market. The European hair care market clocked revenues worth USD 18 billion in 2013; it is anticipated to generate revenues worth USD 24 billion in 2018. Shampoo comprises the major chunk of the EU hair care market and currently accounts for 38 percent of the segment’s overall revenue. In India, the hair care products industry accrued revenues worth USD 2 billion in 2013. Market growth is expected to slow to a yearly rate of just over 10 percent between 2010 and 2018, with revenues anticipated to touch USD 3 billion by 2018.