A new research report out by Euromonitor released this week states that the global beauty industry reached $465 billion in sales in 2014 showing a healthy 5% growth year over year. Global skincare sales are expected to reach $130 billion by 2019.
One-third of all global beauty revenue in 2019 will come from the sales of skin care products, compared to just 23% in 2014. Skincare still attracts the highest spending out of all the beauty segments. The average person spends $15 on skincare annually, compared to $10 for hair products and $7 for color cosmetics.