Kristi Weaver

2 weeks ago | businessoffashion.com | Priya Rao |Kristi Weaver |BoF INSIGHTS

Once the darling of the consumer goods market, the $441 billion global beauty industry is showing signs of cooling. For years, a seemingly limitless appetite for newness in beauty fuelled robust volume and even greater pricing growth — from 2022 to 2024, the sector grew 7 percent annually. Now, geopolitical and economic uncertainty, along with market saturation, are threatening this momentum. A once-clear formula for success is now a challenging puzzle to solve.