Beauty industry: The makeup market has been going up since 2015
Posted On July 9, 2021
Beauty and cosmetics companies are looking to expand their business after years of decline.
The industry grew $1.8 billion in 2016, according to Euromonitor International.
That’s the fastest annual increase since 2009, when it was at $1 billion.
That number was also the highest since the company began tracking the market in 1997.
There are more brands than ever before, with over 2,000 in the industry.
Companies like MAC Cosmetics, Urban Decay, MAC Cosmetica, MAC Makeup and MAC Make Up, Inc. have expanded their businesses and opened more outlets across the U.S. and Canada.
There is a strong growth in the makeup industry globally.
The U.K. and U.A.E. are leading the world in makeup sales with $2.8 trillion and $2 trillion in sales, respectively.
Canada’s Beauty Queen and the U-NBeauty Queen, the U.-N beauty brands and the beauty market are now among the fastest growing global markets, Euromonitors predicts.