Market Size of Australia Beauty and Personal Care Products Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.19 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Australia Beauty & Personal Care Products Market Analysis
The Australia beauty and personal care products market size is expected to grow from USD 4.32 billion in 2023 to USD 5.30 billion by 2028, at a CAGR of 4.19% during the forecast period.
- Australia's beauty and personal care industry is thriving and is one of the fastest-growing consumer markets, driven by increased per capita spending on cosmetics and skin care products. The primary reasons for the growth are the high disposable income and the increased awareness among individuals about personal grooming and hygiene.
- Moreover, there has been a generational shift in recent years with young consumers entering the market. This change is reinforced by social media, internationality, and e-commerce channels, which have a lasting effect on consumers' buying behavior regarding beauty products. Additionally, companies are indulging in aggressive social media marketing to expand their consumer base and boost their overall sales revenue, influencing the market positively.
- As consumers become cautious of potential toxicity in cosmetics, market segments offering products manufactured using natural and organic ingredients and essential oils will likely report strong growth. Additionally, consumers are becoming more aware of the impacts of their beauty decisions on the environment, thus shifting to sustainable products. This trend is also reflected in various initiatives such as certifications, eco-friendly products, and recyclable packaging.
- A survey conducted by Consumer Policy Research Centre in 2022 revealed that over 25 percent of Australian consumers considered having sustainable products available in the beauty and personal care sector as very important. Therefore, companies focus on capitalizing on consumers' demand by offering products with premium botanical ingredients and multi-functional properties.
- For instance, in 2022, Skin Proud was launched in Australia, which offers products formulated with natural extracts such as pomegranate, raspberry, coconut oil, and rose water. The company claims these products to be vegan, PETA-approved cruelty-free.
