Beauty products are one of the fastest growing categories for consumers, according to a new study.
Beauty products account for $12 billion in sales worldwide, according the International Beauty Product Association.
“Beauty is now an extremely lucrative industry,” said Sarah Estrada, the head of international sales for Novembers Beauty Brands.
“It’s a very fast growing segment.
The fact that the growth rate is so high, that’s really good news for our industry.”
Estradas sales growth comes at a time when beauty products have been trending to the fore of the beauty industry as consumers turn toward more health-conscious products.
The Beauty Products Advertising Research and Marketing Association (BPMARMA) found that in 2018, beauty products surpassed the cosmetics category in terms of sales in the United States and worldwide.
Beauty brands also accounted for more than 60% of beauty products sales in 2017.
“The beauty industry has been able to take advantage of an increasingly healthy lifestyle,” said Susan Osterholm, director of the Center for Beauty and Consumer Research at the University of Michigan.
“That means a lot of beauty brands are using their brands to offer beauty products that are less harmful than those made by the same brands in the past.”
A survey of the top-selling beauty products in 2018 showed that brands such as Urban Decay, Benefit and Urban Decay Essentials, which are all owned by Sephora, accounted for the most sales among all beauty products.
November in 2018 reported that sales of beauty and body products rose 4.6% for a total of $5.8 billion.
“We see beauty products becoming more of a mainstream product,” said Estrados marketing director.
“A lot of brands are now making products for women and girls, so the beauty market has gotten really big.”
Beauty products also have gained popularity in the fashion industry.
“Fashion brands are investing in brands that offer a more sophisticated look and are more in touch with their consumers,” said Osterhams Estrades.
“With the popularity of brands such the MAC and Hourglass brands, people are becoming more aware of the benefits of using the right brands for their needs.”
Beauty brands have also made gains in the health-care industry.
Beauty Products Market Research reported that the beauty product industry contributed $5 billion to the U.S. economy in 2018.
“When it comes to the beauty products market, the makeup and hair industries are really the biggest drivers of growth,” said Liza Binder, director and senior director of beauty research at the Novembers Health Research Group.
“In the beauty space, brands are doing so well because they have a high profile.”
The number of beauty companies has also increased, and they are growing in popularity.
The beauty products industry employs more than 12 million people worldwide.
In 2018, there were more than 200,000 beauty products manufacturing facilities in the U, and the UBS Health Data Center estimates that these facilities employ more than 4.4 million people.