Category
Personal Care & Beauty
Personal care and beauty spending is projected to grow from USD 600B in 2026 to USD 950B by 2035, driven by the lower-middle-class in emerging markets and the Silver Generation in mature markets.
USD 600B
Spending in 2026
USD 950B
Spending in 2035
4 tiers
Income splits per city
The segment the average missed
A USD 1.4B lower-middle-class beauty opportunity was invisible in the national data.
Working with a global beauty client, city-level income tiers revealed a fast-growing lower-middle-class segment that national averages had smoothed away entirely. The portfolio and pricing strategy changed as a result.
Two engines of growth
Emerging market entry-tier volume on one side, Silver Generation value on the other.
Beauty grows from opposite ends at once. New consumers in Asia and Africa enter the category at accessible price points, while ageing affluent consumers in mature markets trade up into skincare and dermocosmetics. Both need separate models.
Read the full report
Our Beauty Futures Report goes deeper on the categories, cohorts and cities shaping the next decade.
It sets out where beauty spending grows fastest, which generations drive it, and how the category splits by income tier in the markets that matter most.
Why it matters
Beauty is the case study we point to: national averages missed a USD 1.4B lower-middle-class segment. City-level data revealed it.
Category stat
950B USD
Category size by 2035
Personal Care
What's inside
Category detail, done properly
- Skincare, haircare, colour cosmetics, fragrance, hygiene
- City-level projections across 4 income tiers
- Generational splits from Gen Alpha to the Silver Generation
- Multi-market comparisons in a single view
Related categories
Explore adjacent spending
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Personal Care
A concise slide deck of the key personal care spending trends across 190+ countries and 9,000+ cities, projected through 2040.
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