GLOBAL: One-third of global beauty sales will come from skincare by 2019 | Progresiv
The global beauty industry generated 465 billion dollars in sales in 2014, according to latest beauty and personal care data released by market research company Euromonitor International, with skincare remaining the largest segment across most markets, with global sales expected to reach over 130 billion dollars by 2019. 
With 5 per cent growth, the global market saw continued penetration of staple products in emerging markets, consumers upgrading to more superior products and the adoption of more extensive beauty routines across all product segments.
“Of all beauty segments, consumers continue to spend most on skincare items at 15 dollars per person annually, compared to 10 dollars for hair care and 7 dollars for colour cosmetics,” said Irina Barbalova, head of beauty and personal care at Euromonitor International. “One-third of global beauty revenues by 2019 will come from skin care, compared to 23 per cent between 2009 and 2014.”
Product diversification and innovation are transforming the skin care market, according to the report by Euromonitor.
Technological developments are encouraging demand for a more personalised and unique product, and “consumers want to experience more with their products and innovation can create a unique experience worth paying for as well as creating brand loyalty,” said Barbalova. (www.esmmagazine.com)
