Beauty & Personal Care - Central & Western Europe

Central & Western Europe

In Central & Western Europe, the revenue in the Beauty & Personal Care market is projected to reach US$77.51bn in 2024.
It is anticipated that the market will experience an annual growth rate of 1.90% (CAGR 2024-2029).
The largest segment in this market is Personal Care, which is expected to have a market volume of US$33.35bn in 2024.
When compared globally, in the United States generates the highest revenue in the Beauty & Personal Care market, amounting to US$101bn in 2024.
In terms of per capita income, each person in Central & Western Europe generates revenues of US$231.00 in 2024.
Furthermore, it is projected that online sales will account for 44.5% of the total revenue in the Beauty & Personal Care market by 2024.
In Germany, the beauty and personal care market is witnessing a rising demand for natural and organic products.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Beauty & Personal Care market in Central & Western Europe is witnessing negligible growth, influenced by shifting consumer preferences, economic fluctuations, and increased competition from innovative brands, all of which impact purchasing behaviors and market dynamics.

Customer preferences: Consumers in Central & Western Europe are increasingly prioritizing sustainability and ethical sourcing in their beauty and personal care choices, leading to a rise in demand for eco-friendly products. Additionally, there is a growing inclination towards personalized beauty solutions that cater to individual skin types and concerns, reflecting a shift towards self-care and wellness. Furthermore, the influence of social media and beauty influencers is reshaping purchasing decisions, as consumers seek authenticity and transparency from brands, enhancing their overall shopping experience.

Trends in the market: In Central and Western Europe, the Beauty & Personal Care market is experiencing a significant shift towards sustainability, with consumers increasingly favoring brands that emphasize eco-friendly practices and ethical sourcing. This trend reflects a broader societal movement towards environmental consciousness and responsible consumption. Additionally, personalized beauty solutions are gaining popularity, as consumers seek products tailored to their specific skin types and concerns, aligning with the self-care and wellness trend. The impact of social media and beauty influencers is also notable, as they play a crucial role in shaping consumer preferences, driving demand for transparency and authenticity in brand messaging. These trends carry significant implications for industry stakeholders, who must adapt their offerings and marketing strategies to meet evolving consumer expectations.

Local special circumstances: In Central and Western Europe, the Beauty & Personal Care market is shaped by a rich cultural heritage that values quality and craftsmanship, leading to a strong preference for locally produced products. Geographically, the region’s diverse climates influence skincare needs, prompting brands to offer tailored solutions for varying skin types. Regulatory frameworks, particularly stringent EU standards on cosmetic ingredients, foster consumer trust and safety, encouraging companies to innovate sustainably. These unique factors drive a demand for transparency, ethical sourcing, and personalized beauty experiences.

Underlying macroeconomic factors: The Beauty & Personal Care market in Central and Western Europe is significantly influenced by macroeconomic factors such as consumer spending patterns, economic stability, and demographic shifts. A robust national economy, marked by rising disposable incomes and low unemployment rates, encourages consumers to invest in premium beauty products. Additionally, fiscal policies that promote innovation and sustainability in manufacturing are fostering growth in eco-friendly and organic product lines. The increasing awareness of health and wellness trends, along with a growing aging population, further drives demand for personalized skincare solutions, shaping a dynamic market landscape.

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.