Beauty & Personal Care: Recession resistant and growing

The global beauty market, valued at $430 billion in 2022, is projected to grow at an annual rate of 6% to reach $580 billion by 2027, with remarkable resistance to inflation.

In 2022, the global beauty market, encompassing beauty, personal care and fragrance, generated approximately $430bn in revenue, according to McKinsey. The report predicts category sales will grow at a rate of 6% annually to reach $580bn worldwide by 2027.

One notable aspect of the category is its resistance to inflationary pressures.

Despite an estimated inflation of 6.5% in 2022 (largely driven by Russia’s invasion of Ukraine), which dropped to 3.7% in 2023, only 13% of US consumers have reduced spending on personal care items in the past 12 months. GWI reported in January 2023 only 21% of...

Not a subscriber?

Schedule your live demo with our team today

WARC helps you to plan, create and deliver more effective marketing

  • Prove your case and back-up your idea

  • Get expert guidance on strategic challenges

  • Tackle current and emerging marketing themes

We’re long-term subscribers to WARC and it’s a tool we use extensively. We use it to source case studies and best practice for the purposes of internal training, as well as for putting persuasive cases to clients. In compiling a recent case for long-term, sustained investment in brand, we were able to support key marketing principles with numerous case studies sourced from WARC. It helped bring what could have been a relatively dry deck to life with recognisable brand successes from across a broad number of categories. It’s incredibly efficient to have such a wealth of insight in one place.

Insights Team
Bray Leino

You’re in good company

We work with 80% of Forbes' most valuable brands* and 80% of the world's top top-of-the-class agencies.

* Top 10 brands