New Delhi [India], July 28 (ANI): The international magnificence and private care e-commerce market is predicted to develop by almost 50 per cent over the subsequent 5 years, in line with knowledge highlighted in a report by DIGITAL & TRENDS.
The report confirmed a gradual rise in on-line gross sales within the magnificence and private care sector from 2018 and forecasts continued progress till 2029.
In 2018, the entire market income stood at USD 115.23 billion. This quantity has steadily elevated over time. In 2019, the income rose to USD 132.6 billion, and in 2020 it additional climbed to USD 166.06 billion. The upward pattern continued in 2021, reaching USD 201.66 billion.
Although there was a slight dip in 2022 to USD 196.56 billion, the market shortly recovered, rising to USD 227.26 billion in 2024.
For 2025, the report initiatives income of USD 257.54 billion. The progress is predicted to proceed with revenues of USD 327.22 billion in 2028.
By 2029, the market is forecasted to the touch USD 338.93 billion, marking an almost 50 per cent leap from 2024 ranges.
Segment-wise, the report talked about that the biggest contribution comes from private care, adopted by cosmetics, skincare, fragrances, and wonder tech.
The knowledge from the report confirmed that non-public care dominates the market share throughout all years, whereas magnificence tech is the smallest however progressively rising phase.
The report additionally famous that developed nations have the very best on-line visitors within the magnificence and cosmetics trade for 2024.
The United States leads with 20.1 per cent visitors share, adopted by Japan at 14.3 per cent, Brazil at 5.2 per cent, and Russia at 5.1 per cent. Other international locations on the record embody the United Kingdom, Germany, Poland, India, France, and Canada.
India holds a 3.6 per cent share of worldwide visitors, with year-on-year progress of two.7 per cent.
Although India’s visitors share is decrease than some international locations, its constant progress reveals the rising reputation of on-line magnificence and private care purchasing within the nation.
The total market outlook remained sturdy, with rising digital adoption, rising product selection, and improved entry contributing to this regular progress pattern. (ANI)