Market Insights Consumer Beauty & Personal Care

Cosmetics - Sri Lanka

Sri Lanka

In 2024, the revenue in the Cosmetics market in Sri Lanka is projected to reach US$187.10m.
It is anticipated that the market will experience an annual growth rate of 4.22% (CAGR 2024-2029).
When compared to other countries worldwide, in the United States leads the pack with a revenue of US$20,130m in 2024.
In terms of per capita revenue, each person in Sri Lanka is expected to generate US$8.52 in 2024.
Non-Luxury are predicted to account for 83% of the total sales in the Cosmetics market by 2024.
Sri Lanka's cosmetics market is witnessing a surge in demand for natural and organic products, driven by the growing consumer preference for sustainable and eco-friendly beauty options.

Key regions: Malaysia, Singapore, Worldwide, Indonesia, India

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Methodology

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, regression analysis and Monte Carlo simulations are particularly suited for forecasting in the Home and Laundry Care market, due to the unpredictable variability and complex dynamics in consumer behavior and product adoption. The main drivers are GDP and consumer spending.