The manicure or pedicure preparations market in Cyprus displayed a declining trend from 2013 to 2023, decreasing from 6.7 million USD to 2.5 million USD. Over the past decade, the market experienced fluctuations but generally trended downward, with significant drops in 2019 and 2020. A brief recovery happened in 2021, yet the market continued to contract, witnessing an 11.9% decline in 2023 compared to the previous year. The compound annual growth rate (CAGR) over the last five years was -12.64%, indicating a persistent market contraction.
Future trends to watch for include:
- Potential market stabilization or recovery influenced by increased consumer spending or tourism resurgence.
- Growing demand for eco-friendly and organic products in personal care sectors.
- Innovations in manicure and pedicure treatments that could attract new consumer segments.
