The market experienced significant volatility, including a peak in 2016 at 18.619 million euros and a sharp drop in 2021 to 2.309 million euros. The CAGR from 2017 to 2021 is -34.13%. Despite a considerable rebound in 2022 (444.29% YoY increase), the forecast data through 2028 show a downward trend. Projected CAGR for the next five years is -21.37%, with a growth rate indicating a 69.94% decline by 2028.
Future Trends to Watch:
The market is expected to contract further, driven by shifting consumer preferences, potential economic pressures, and competition from alternative beauty products. Keeping an eye on innovation in formulations, marketing strategies, and potential economic recoveries will be essential.
