Household expenditure on personal care in Belgium witnessed substantial growth from 2013 to 2019, reaching €430 per capita. The onset of COVID-19 in 2020 caused a significant decrease of 18.6%, dropping the value to €350. However, the subsequent two years saw a robust recovery with increases of 14.29% and 12.5% in 2021 and 2022 respectively, culminating in a value of €450. In 2023, spending slightly declined by 4.44%, standing at €430. The average annual growth rate over the past five years was 0.96%. Looking forward, forecasts suggest a steady increase, with the per capita expenditure reaching €467 by 2028, reflecting a 5-year CAGR of 1.34%.
Future trends to watch for:
• Continued recovery and steady growth in personal care expenditure post-COVID-19.
• Increasing consumer demand for premium and sustainable personal care products.
• Potential economic fluctuations impacting discretionary spending.
• Technological advances driving innovation in personal care products.
