Personal Care and Beauty Market

Supporting North American manufacturers become market leaders in the European beauty market.

personal care and beauty

Overview of Industry in Europe

Europe is a critical market for the cosmetics and personal care industry. The cosmetics industry is showing continuous growth in the European markets, with increasing yearly values in both East and West Europe. In 2023, the market reached USD 131.80bn and is expected to grow by a CAGR of  2.06% annually between 2023-2027. 

The personal Care market is valued at 56.28bn in 2023, hence being one of the largest markets for B2C manufacturers. The European personal care & beauty industry presents several opportunities for North American companies entering the European market. Skincare is one of the best-performing categories in the market and one of the sectors that responded positively to the COVID-19 transformations.

Western Europe is still leading in the beauty sector, accounting for more than 80% of the yearly revenue. The largest cosmetics market in Europe is Germany, followed by France and the United Kingdom.  The main reason for the growth is the shift with young consumers entering the market, the use of social media platforms like TikTok, and the adoption of e-commerce. These trends are proven to have lasting effects on the behaviors of the young demographics, especially in beauty products.  

The EU is currently strategizing on imposing digital, environmental, and social prequalification projects that will limit differences between the different EU states. 

 

 

 

 

 

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