The sold production of lip and eye make-up preparations in Belgium exhibited fluctuating growth rates from 2013 to 2023, standing at 21.026 million Euros in 2023. The market suffered a significant decline in 2014 with a year-on-year decrease of 29.58%, followed by a substantial rebound in 2015 with a growth of 233.87%. The growth rate then steadied, showing minor fluctuations with an average annual growth rate (CAGR) of 2.7% over the last five years leading up to 2023.
Looking at the forecast from 2024 to 2028, the market is expected to continue its upward trajectory, albeit at a more moderate pace with a forecast CAGR of 1.86%. The projected total growth over these five years is anticipated to be 9.64%, reaching 23.66 million Euros by 2028.
Trends to watch for in the future include:
- Potential market saturation impacting growth rates.
- Technological innovations in product formulations and packaging.
- Changes in consumer preferences towards natural and organic products.
- The impact of economic conditions on discretionary spending.
