The top five cosmetics brands in 2017 have all seen an increase in sales in the UK, according to data released by cosmetic retailer Maelys Cosmetics.
The UK cosmetics industry has seen an overall rise of 1.2% in 2017 compared to 2016, with the biggest increase in the sector being for the cosmetics category.
The cosmetics category accounted for a whopping 41% of total sales, with Cosmetics Market Intelligence forecasting that the UK cosmetics market could be worth £1.2bn in 2018.
Maelys’ Beauty Product Guide predicts that by the end of 2018 the cosmetics industry will have a turnover of £8.2 billion, a 4.3% increase on the previous year.
This is due to increased demand for cosmetics products such as nail treatments, cosmetics brushes and skincare, as well as increased consumer spending on cosmetics products in general.
Maeys Beauty Product Guides forecast for 2018The cosmetics industry’s annual sales were also up in 2017, with cosmetics revenue up by 1.1% on the same year last year, as it saw a 3.2 percentage point increase in volume.
This was also reflected in the cosmetics market as a whole, where cosmetics revenue grew by 1% in the past year.
Moeys Beauty Market Intelligence predicts that the cosmetics sector is likely to make a return to a growth trajectory of 2.6% in 2018 as the UK population continues to grow.
With this growth, the cosmetics consumer is likely to see an increase of £7.6bn in total cosmetics sales by 2018.
In 2018, the makeup industry had the highest percentage growth in cosmetics revenue in the industry, up from 0.6%.
“The makeup industry continues to be the largest and fastest-growing sector in the country and the growth of this sector is projected to continue in the near future.
The cosmetics sector saw an increase on all-store sales, up 4.6%, which is the largest increase since 2016.
As with all other categories, the growth in makeup is projected as growth driven by increased consumer demand and increased demand driven by the increasing popularity of cosmetics products and products to treat the skin,” said Maeys Beauty Products.
“This is driven by increasing demand from the beauty and wellness consumer in the age of digital products.”
In 2018 the makeup consumer is projected to spend over £8bn on cosmetics and beauty products, an increase from £7bn in 2017.
In total, cosmetics revenue is forecast to grow by 1%, with cosmetics spending up 4% on a per capita basis.”
Moeyys Beauty products also saw a positive growth in sales.
According to the latest figures from the Olympic Organics cosmetics market intelligence, sales of cosmetics in the category grew by 9.1%, with the largest growth coming from the cosmetics and fragrance categories, up by 9%.
The company forecasts that cosmetics sales in 2018 will grow by 7.5% in total, with this increase driven by growth in cosmetic products and cosmetics services.
This is reflected in Maeys’ forecast for total cosmetics and cosmetics revenues of £1,077.9 billion in 2018, up 8.4% on 2017.
Meyys Beauty Markets forecasts for 2018Moelys Beauty Market IQ forecasts that in 2018 cosmetics will account for 3.7% of all cosmetics sales, which is up from 2.7%.
This growth is likely due to the increase in cosmetics product sales, a 1.4 percentage point rise on the prior year.
While the cosmetics business is expected to remain relatively stable over the coming year, there are some areas of the cosmetics segment that could see an improvement.
Overall, Maeys beauty business will continue to grow, with up to 4.5 million additional cosmetics products sold in 2018 due to an increase in demand for these products.
It is expected that the beauty business will grow at a compound annual growth rate (CAGR) of between 5.5 and 7.0% in 2020, with growth expected to continue into the second half of the year.
This growth in the beauty industry is also reflected by the cosmetics retail industry.
Due to increased consumer spend, cosmetics retail sales increased by 1%.
Meyies Beauty Market Index predicts that cosmetics retail revenues will grow between 6.5-7.5 percent in 2020, which should be a positive sign for the beauty business.
If the cosmetics market continues to rise, the company expects cosmetics retail revenue to grow between 3.5 to 4.5%.
If the cosmetics business remains stable, the annual cosmetics market growth is expected to grow from 7.8 to 11.3 percent in 2020.
Source: Oxygen Beauty Market Intelligence MarketIQ