The sold production of lip make-up preparations in the UK showed a fluctuating trend from 2013 to 2023, with a noticeable dip in 2016 followed by significant recovery in 2017 and 2018. The actual value in 2023 stood at €42.513 million, showing a slight decline from the previous year. Over the last two years, the year-on-year variations are -1.48% in 2022 and -1.47% in 2023, indicating a continual decline. The last five years show a -3.01% CAGR, reflecting the average annual change over that period. The forecasted data from 2024 to 2028 predict a steady decline with a -1.28% CAGR, and the overall growth rate from 2023 to 2028 is projected to be -6.26%.
Future trends to watch for:
- Monitoring consumer preferences towards sustainable and organic products.
- Tracking innovations in formulations and packaging that appeal to eco-conscious consumers.
- Impact of economic factors such as inflation and disposable income on consumer spending habits in the cosmetics market.
