Australian Beauty Market 2021
As the hairdressing and beauty industry continues to grow in Australia, I have decided to take a closer look at this emerging market.
In this article, I have prepared a brief report on Australia Cosmetic Market: statistics, market analysis, and forecasts.
But before that, let’s take a look at the beauty industry in general:
Is the beauty industry growing?
Beauty is a fast paced and very competitive industry that evolves very quickly.
In 2020-2021, two major environmental factors impacted the beauty market: ‘Covid-19‘ and ‘Durability‘.
Covid-19 has increased the use of disinfectants and self-care, while sustainability has increased consumer demand for natural cosmetics such as organic makeup, vegan lipsticks and cruelty-free sunscreens.
In addition, the emergence of private label cosmetics has reinforced the growth of these trends.
Nonetheless, the global beauty industry has continued to grow, valued at $ 500 billion (USD) in 2020.
In addition, that number is expected to reach $ 716.6 billion by 2025 according to ‘Grand View Research’.
So… why customers keep spending on beauty?
First of all, the beauty industry has grown in popularity over the past five years, achieving a solid and permanent position in the global market.
Second, most beauty services cannot be replaced with cheap internet knockoffs.
The beauty market connects people with services provided by specialist salons, and customers are happy to pay.
But the success of the beauty industry is not only due to the salons and the popularity of countries.
It is also the rise of two major trends, a non-sexist fashion movement that is spreading in the beauty and cosmetics markets.
For example, the men’s makeup market is booming.
Men are spending more and more time (and money) on beauty care, cosmetics and skin care.
Therefore, it is only natural that the global beauty industry experiences such growth.
How big is the beauty industry in Australia?
Australia is no exception to the growth of the beauty industry.
Although its population is smaller than that of many westernized countries, Australians spend a good portion of imports on beauty products each year.
In fact, in 2018-2019 Australia’s spending on beauty imports amounted to a staggering $ 888,405,000 (AUD).
However, this figure is paltry compared to the UK which reportedly spent more than $ 2 billion.
The same is true for China, which tops the ranking for purchases of beauty products with annual spending of $ 13,231,829,000.
If we focus on Australia, there is a huge difference in spending on purchasing beauty products, depending on the region the shoppers live in.
Data shows that customers in Queensland, South Australia or New South Wales spend almost $ 1,000 a year to look and feel gorgeous.
However, the figure is much lower in other parts of Australia, falling to less than $ 500 in Tasmania and the Australian Capital Territory.
The prices for special beauty treatments also differ greatly from city to city.
You could pay $ 136 for a hairdresser appointment in Perth, while in Darwin you could pay a much lower price of $ 77 for the same service.
What is Australia’s # 1 skincare brand?
Although there are many beauty brands made in Australia, L’Oréal remains the favorite skin care brand for Australians.
Other beauty brands bought by Australians are Revlon, MAC, Neutrogena, Lancôme, Avon, Clinique and Hermes – in no particular order.
So, how much do australians spend on beauty?
Check out the Beauty Courses Online infographic which details how much Australians spend on beauty and much more useful information.