Beauty & Personal Care - Sweden

Sweden

In 2024, the revenue in the Beauty & Personal Care market in Sweden amounts to US$2,483.00m.
It is projected to experience an annual growth rate of 2.87% (CAGR 2024-2029).
The largest segment in this market is Personal Care, which has a market volume of US$964.70m in 2024.
When comparing with other countries globally, in the United States generates the highest revenue with US$101bn in 2024.
In terms of per capita revenue, each person in Sweden generates US$232.70 in 2024.
Looking specifically at the Beauty & Personal Care market, online sales are expected to contribute 40.5% of the total revenue by 2024.
The use of organic and sustainable beauty products is on the rise in Sweden, driven by the country's strong focus on environmental consciousness and ethical consumerism.

Key regions: United States, Worldwide, India, Indonesia, Canada

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Analyst Opinion

The Beauty & Personal Care market in Sweden is experiencing sluggish growth due to factors such as market saturation, shifting consumer preferences towards sustainable products, and increased competition from both established brands and emerging beauty tech innovations.

Customer preferences: Consumers in Sweden are increasingly prioritizing transparency and ethical sourcing in their Beauty & Personal Care choices, resulting in a growing demand for brands that emphasize sustainability and eco-friendly practices. Additionally, there is a noticeable shift towards personalized beauty solutions, with many seeking tailored products that cater to individual skin types and concerns. This trend is fueled by the rising influence of social media and beauty influencers, who advocate for authenticity and inclusivity in product offerings, reflecting broader cultural values of diversity and self-expression.

Trends in the market: In Sweden, the Beauty & Personal Care market is experiencing a significant shift towards sustainability and ethical sourcing, with consumers increasingly favoring brands that demonstrate transparency in their practices. This trend is driving the demand for eco-friendly products and sustainable packaging. Concurrently, personalized beauty solutions are gaining traction, as consumers seek products tailored to their individual needs, reflecting a desire for authenticity and inclusivity. The influence of social media and beauty influencers is pivotal, as they promote diverse representation and self-expression, impacting brand strategies and consumer loyalty within the industry.

Local special circumstances: In Sweden, the Beauty & Personal Care market is shaped by a strong cultural emphasis on sustainability and minimalism, influenced by the country’s commitment to environmental protection. Swedish consumers prioritize products with clean ingredients and ethical sourcing, reflecting a societal norm that values health and well-being. Additionally, stringent regulations on cosmetic ingredients ensure safety and transparency, fostering trust in local brands. The influence of Scandinavian design aesthetics promotes simplicity and functionality, appealing to consumers seeking both efficacy and style in their beauty routines.

Underlying macroeconomic factors: The Beauty & Personal Care market in Sweden is significantly influenced by macroeconomic factors including consumer spending patterns, economic stability, and sustainability trends. As Sweden maintains a robust national economy with low unemployment rates, disposable income levels support spending on premium beauty products. Furthermore, global economic trends toward sustainability drive demand for eco-friendly and ethically sourced products, aligning with Swedish values. Fiscal policies promoting green initiatives encourage local brands to innovate, while stringent regulations enhance consumer trust. These combined factors create a dynamic market environment that fosters growth and supports the demand for high-quality, sustainable beauty solutions.

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.