Market Insights Consumer Beauty & Personal Care Skin Care

Body - G20

In the year 2024, the revenue generated in the Body market in G20 amounts to a significant US$17.94bn.
According to projections, this market segment is expected to experience an annual growth rate of 2.33% from 2024 to 2029, as calculated by the Compound Annual Growth Rate (CAGR).
When compared globally, it is worth noting that the highest revenue is generated in China, with an impressive US$4,339m expected in 2024.
This highlights in China's dominant position within the Body market among the G20 countries.
To provide further context, when considering the per capita figures, it can be observed that in 2024, each person in the G20 countries generates revenues of approximately US$5.07.
This figure reflects the individual contribution to the overall revenue generated within the Body market.
In Brazil, there is a growing trend towards natural and organic body care products, as consumers are becoming more conscious about their health and the environment.

Key regions: South Korea, India, Canada, Singapore, United States

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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.