The perfumed bath salts and bath preparations market in Malta has experienced a steady decline from 2013 to 2023, beginning at a value per capita of $6.41 in 2013 and falling to $2.88 by 2023. Over the past decade, there has been a consistent downward trend, with significant declines observed over the recent five-year period, characterized by a Compound Annual Growth Rate (CAGR) indicating negative growth. The year-on-year variation from 2022 to 2023 showed a decrease of approximately 8.3%.
Future trends to watch for include:
- Potential shifts in consumer preferences towards eco-friendly and health-conscious products.
- Influence of global economic conditions on luxury and wellness spending.
- Technological advancements in e-commerce and digital marketing affecting product accessibility and awareness.
- Impact of tourism on local consumption patterns, given Malta's role as a travel destination.