Year-on-Year Variations (Last 2 Years): In 2022, the market saw a significant recovery with a 261.87% increase, followed by a slight decline of 2.71% in 2023.
CAGR (Last 5 Years): The average annual variation over the last five years (including forecasted values) stands at -10.16%, indicating a negative trend.
From a high of 31.983 million euros in 2015 to an expected significant decrease to 15.202 million euros by 2028, the sector shows a steady decline. This long-term forecast suggests that the market's production value could shrink by 41.46% over the next five years.
Despite recent fluctuations, market players should keep an eye on changing consumer preferences, technological advancements in beauty products, and regulatory changes. The expansion of online beauty retail and potential recovery in tourism-related beauty sales may offer some optimism for future stabilization.
