Beauty Products Production

The Cosmetic and Beauty Products Manufacturing industry produces personal care goods for everyday use, such as deodorant, shaving cream and dental floss, and specialty cosmetic products, such as eyeliner and perfume. Rising per capita disposable income over most of the five years to 2022 has supported revenue. As consumers began to recover from the effects of COVID-19 (coronavirus), revenue increased 5.2% in 2021. However, industry revenue is estimated to fall at an annualized rate of 0.7% to $47.7 billion over the five years to 2022, with this drop was mainly due to the COVID-19 (coronavirus) pandemic and including an increase of 1.4% in 2022 alone. Profit has also decreased during the period, along with revenue.