The beauty market in 2023: New industry trends | McKinsey
WEBMay 22, 2023 · In 2022, the beauty market—defined as skincare, fragrance, makeup, and haircare—generated approximately $430 billion in revenue. Today, beauty is on an upward trajectory across all categories. It has proven to be resilient amid global economic crises and in a turbulent macroeconomic environment.
Taking a good look at the beauty industry | McKinsey
WEBJul 22, 2021 · The beauty industry —encompassing skin care, color cosmetics, hair care, fragrances, and personal care—had a beast of a year in 2020: sales of color cosmetics fell by 33 percent globally, while overall retail sales in the beauty category declined by 15 percent. But the industry has been resilient in the past, and experts are predicting a ...
The beauty boom and beyond: Can the industry maintain its …
WEBSep 11, 2024 · The global beauty industry continued to grow in 2023, but the dynamics driving sector growth are shifting. A new analysis shows some emerging bright spots and how players can compete.
The beauty battleground: The sprint to win on services
WEBJul 14, 2022 · The beauty industry, especially beauty services, was significantly affected by the COVID-19 pandemic—but it is bouncing back. The postpandemic industry is characterized by five important trends: growth in beauty players offering both products and services, a shift in customer preferences to specialized over generic, growth in advanced ...
The future of beauty and wellness: Inclusive, personalized, and …
WEBAug 21, 2022 · Greater personalization, connectivity, and authenticity are changing how consumers relate to, try, and buy products and services—and sustainability and inclusivity are quickly becoming priorities for both beauty and wellness companies.
How the beauty industry can survive coronavirus | McKinsey
WEBMay 5, 2020 · The global beauty industry (comprising skin care, color cosmetics, hair care, fragrances, and personal care) has been shocked by the COVID-19 crisis. First-quarter sales have been weak, and there have been widespread store closures.
The top wellness trends in 2024 | McKinsey - McKinsey & Company
WEBJan 16, 2024 · Five trends shaping the consumer health and wellness space in 2024. Fifty-eight percent of US respondents to our survey said they are prioritizing wellness more now than they did a year ago. The following five trends encompass their newly emerging priorities, as well as those that are consistent with our earlier research.
WEBtrends, we estimate global beauty-industry revenues could fall 20 to 30 percent in 2020. In the United States, if there is a COVID-19 recurrence later in the year, the decline could be as much as 35 percent (Exhibit 3). We looked at the beauty industry’s recovery against each scenario, considering two key factors: where
The wellness industry: Trends and predictions - McKinsey
WEBThe wellness market is booming. Consumers intend to keep spending more on products that improve their health, fitness, nutrition, appearance, sleep, and mindfulness. In this edition, The Next Normal explores the fast-changing, fast-growing wellness industry.
Beauty | Consumer Packaged Goods | McKinsey & Company
WEBAug 4, 2021 · The glow of the beauty industry has proved hard to resist, attracting many new companies and investors. Brands must make differentiating choices to find success in this shifting and increasingly competitive landscape.