Beauty market in transition: no innovation, no industry

Beauty shoppers want value for their money: in a market where luxury is losing ground and online players are on the rise, cosmetics require a new approach. The era of “the more the better” is giving way to “more is not enough”.

Effortless success is a thing of the past

The global beauty market, worth 441 billion dollar (409 billion euros), is cooling down. While the sector grew by 7% annually between 2022 and 2024, a more moderate growth rate of 5% is expected through 2030. Key growth drivers like innovation and pricing power are losing their predictability due to geopolitical instability, inflation, and shifting consumer expectations.