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 95% 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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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.