Market Insights Consumer Beauty & Personal Care

Cosmetics - Luxembourg

Luxembourg

Luxembourg's revenue in the Cosmetics market is projected to reach US$35.35m in 2024.
This represents a significant contribution to the country's overall market growth.
The market is expected to experience an annual growth rate of 3.55% (CAGR 2024-2028), indicating a positive outlook for the sector.
When compared globally, in the United States stands out as the leader in generating revenue in the Cosmetics market, with an estimated revenue of US$20,130m in 2024.
This highlights the dominance of the US in the industry.
In terms of per capita revenue, Luxembourg's Cosmetics market is projected to generate US$53.43 per person in 2024.
This figure provides insight into the individual spending power and consumer demand within the country.
Looking ahead, it is anticipated that 61% of sales in the Cosmetics market by 2024 will be attributed to Non-Luxury.
This indicates the presence of a diverse range of products within the market segment.
Luxembourg's cosmetics market is seeing a surge in demand for luxury skincare products due to the country's affluent population and high disposable income.

Key regions: Singapore, Indonesia, Canada, United Kingdom, United Arab Emirates

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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.