Beauty & Personal Care - Malta

Malta

The revenue generated in the Beauty & Personal Care market in Malta is projected to reach US$77.46m in 2024.
This market is expected to experience an annual growth rate of 2.58% (CAGR 2024-2029).
The largest segment in this market is Personal Care, which is estimated to have a market volume of US$34.42m in 2024.
When compared globally, in the United States generates the highest revenue in this market, with an estimated amount of US$101bn in 2024.
In terms of per capita revenue, in Malta is expected to generate US$144.30 in 2024.
Furthermore, online sales are projected to contribute 36.2% of the total revenue in the Beauty & Personal Care market by 2024.
Despite its small size, Malta has a thriving beauty and personal care market, with a strong emphasis on 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 Malta is facing sluggish growth, influenced by factors such as limited consumer spending, changing beauty standards, and increased competition from affordable brands, which collectively hinder substantial market expansion.

Customer preferences: Consumers in Malta are increasingly prioritizing natural and sustainable beauty products, reflecting a growing awareness of environmental issues and health consciousness. This shift is accompanied by a rising demand for cruelty-free and organic brands, as individuals seek transparency in ingredient sourcing. Additionally, the influence of social media and beauty influencers is reshaping purchasing habits, with younger demographics leaning towards personalized and inclusive offerings that cater to diverse skin tones and types. This evolving landscape underscores a deeper connection between beauty, identity, and ethical consumerism.

Trends in the market: In Malta, the Beauty & Personal Care market is experiencing a significant shift towards natural and sustainable products, driven by heightened consumer awareness of environmental and health issues. This trend is marked by a growing preference for cruelty-free and organic brands, as consumers seek transparency in ingredient sourcing. Additionally, social media and beauty influencers are playing pivotal roles in shaping purchasing behaviors, especially among younger demographics, who favor personalized and inclusive products that cater to various skin tones and types. This evolving landscape highlights the intersection of beauty, identity, and ethical consumerism, presenting both challenges and opportunities for industry stakeholders to innovate and adapt to changing consumer values.

Local special circumstances: In Malta, the Beauty & Personal Care market is uniquely influenced by its Mediterranean climate, which fosters a preference for lightweight, hydrating products suitable for warm weather. The island's rich cultural heritage emphasizes the use of traditional ingredients, such as olive oil and local herbs, appealing to consumers seeking authenticity. Furthermore, Malta's stringent EU regulations on cosmetic products enhance consumer trust in safety and sustainability claims, while the small market size encourages niche brands to cater specifically to local tastes, driving innovation and differentiation.

Underlying macroeconomic factors: The Beauty & Personal Care market in Malta is significantly influenced by macroeconomic factors such as consumer spending power, tourism trends, and global economic conditions. As a small island economy, Malta relies heavily on tourism, which boosts demand for beauty products among international visitors and locals alike. Economic stability and growth, reflected in rising disposable incomes, allow consumers to invest more in premium and niche beauty products. Additionally, global trends towards sustainability and ethical sourcing resonate strongly with Maltese consumers, driving brands to align with these values. Inflation rates and fiscal policies also impact pricing strategies, shaping overall market dynamics and growth potential.

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.