UK Beauty and Skin Care Market to Expand at 1.7% Annual Rate, Projected to Hit 155,000 Tons by 2035 – Report Highlights

The report highlights the positive trends in the UK beauty, make-up, and skin care market, projecting a growth with a CAGR of +1.7% in volume and +3.7% in value from 2024 to 2035. Here are the key takeaways:

Market Forecast

• Market Volume: Expected to reach 155K tons by 2035.
• Market Value: Projected to rise to $2.3 billion by 2035.

Consumption

• In 2024, consumption surged to 129K tons (+87% from the previous year).
• The market size reached $1.5 billion in 2024, reflecting a 21% increase from 2023.

Production

• Production remained steady at 46K tons in 2024 but showed a slight decrease overall since 2013, when it was at 57K tons.

Imports

• In 2024, imports jumped to 148K tons (+55% from the previous year).
• Import value grew to $2.3 billion, with prominent suppliers being China, Poland, and France.

Exports

• Exports decreased to 65K tons in 2024, following a declining trend since 2019.
• Export value slightly decreased to $1.8 billion, with Ireland, the US, and Belgium as main destinations.

Import and Export Prices

• Import price averaged $15,790 per ton in 2024.
• Export price rose to $27,621 per ton in 2024.

Notable Trends

• Strong import growth from South Korea.
• Significant export price increases to destinations like Poland and Australia.

This data indicates robust growth and shifts in trade patterns within the UK beauty and skincare industry, influenced by both domestic consumption and international trade dynamics.