Health and beauty market to outperform all other sectors by 2022
UK consumers will spend £487 per head on health and beauty products by 2022, according to data and analytics company Global Data.
Over the next five years, consumers will be willing to invest even more money in the pursuit for optimum health and beauty, with annual spend per head forecast to rise by £73 over the period.
Global Data said this would make the market the fastest growing sector in the UK by 2022. Its research shows that nine out of 10 health and beauty shoppers still purchase products in store, but that spend is shifting online, with online sales set to reach £3.1 billion by 2022.
Skincare is predicted to be the fastest growing category thanks to product innovation across both mass and premium markets. Global Data predicted skincare sales to rise 27.9%, with a key focus on masks, serums and primers.
Global Data lead analyst Kate Ormrod commented: “Consumer appetite for new cult products is expected to grow over the next five years, providing retailers and brands with license to push the boundaries and introduce new, innovative items to their ranges to drive impulse purchases and spend per head.”