The export of beauty, make-up, and skin care preparations from Australia has shown significant growth from 2013 to 2023, reaching a stand of $548.52 million USD in 2023. Over the past decade, the sector has experienced considerable variation in year-on-year percentages, with notable growth in years such as 2016 (27.03%) and 2017 (27.67%). From 2018 onwards, the growth stabilized with fluctuations, ending with a 4.18% increase in 2023. The CAGR for the last five years (2019-2023) stands at 3.98%.
Future trends forecast a steady increase, with the value projected to reach $663.47 million USD by 2028, achieving a forecasted CAGR of 2.99% over the next five years. This indicates a projected growth rate of 15.85% from 2023 to 2028.
Key trends to watch include increasing demand for organic and natural products, rising consumer awareness about skin health, and the influence of social media and beauty influencers driving market expansion. Additionally, innovations in product formulations and packaging, along with expanding market access through e-commerce platforms, are expected to further boost exports.
