Beauty & Personal Care - Australia & Oceania

Australia & Oceania

In 2024, the revenue in the Beauty & Personal Care market in Australia & Oceania is estimated to be US$9.40bn.
It is projected to grow annually at a rate of 2.89% (CAGR 2024-2029).
The largest segment in this market is Personal Care, which is expected to have a market volume of US$3.87bn in 2024.
When compared globally, in the United States generates the highest revenue with US$101bn in 2024.
In terms of per capita income, each person in Australia & Oceania is expected to generate US$216.40 in revenue in 2024.
Additionally, online sales are predicted to contribute 34.5% of the total revenue in the Beauty & Personal Care market by 2024.
Australia's booming beauty and personal care market is driven by the increasing demand for natural and organic products.

Key regions: United States, Worldwide, India, Indonesia, Canada

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Analyst Opinion

The Beauty & Personal Care market in Australia & Oceania is witnessing negligible growth, influenced by shifting consumer preferences towards sustainable products, heightened competition, and economic factors that are affecting discretionary spending on beauty items.

Customer preferences: Consumers in Australia & Oceania are increasingly prioritizing eco-friendly beauty products, reflecting a growing awareness of sustainability and environmental impact. This shift is particularly evident among younger demographics who favor brands with transparent sourcing and ethical practices. Additionally, the rise of social media influencers is shaping preferences, as consumers seek personalized recommendations and authentic engagement. Furthermore, the trend toward minimalism is influencing purchasing decisions, with many opting for multi-functional products that simplify their beauty routines.

Trends in the market: In Australia and Oceania, the Beauty & Personal Care market is experiencing a notable shift towards eco-consciousness, with consumers increasingly seeking sustainable and ethically sourced products. This trend is particularly pronounced among younger consumers who prioritize transparency from brands. Additionally, the influence of social media continues to reshape buying habits, as personalized recommendations from influencers gain traction. The growing preference for minimalism is also evident, with many opting for multi-functional beauty products that streamline routines, signaling a significant opportunity for brands to innovate and adapt to these evolving consumer values.

Local special circumstances: In Australia and Oceania, the Beauty & Personal Care market is shaped by diverse geographical and cultural factors, including a strong emphasis on the natural environment and indigenous practices. The region’s unique biodiversity fuels demand for locally sourced ingredients, with consumers favoring brands that highlight their connection to Australian and Oceanic heritage. Additionally, stringent regulatory standards around product safety and environmental impact drive brands to innovate sustainably. This landscape fosters a competitive edge for brands that prioritize ethical practices and authenticity, aligning with the values of eco-conscious consumers.

Underlying macroeconomic factors: The Beauty & Personal Care market in Australia and Oceania is significantly influenced by macroeconomic factors such as consumer spending trends, economic stability, and the impact of global supply chains. With robust national economic health, characterized by steady GDP growth and low unemployment rates, disposable income levels are rising, leading to increased spending on beauty products. Additionally, global economic trends, including shifts toward sustainability and ethical consumption, are shaping consumer preferences. Fiscal policies promoting innovation and sustainability further encourage brands to adapt, while trade policies affect the availability of imported ingredients and products, influencing market dynamics.

Methodology

Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.