Beauty Businesses: Exploring the cosmetic industry
The cosmetic industry is huge and booming businesses. From hair products to skincare to nail products, the beauty industry continues to grow. Right now, it’s worth over $500 billion. That’s a lot of lipstick! The global beauty industry includes personal care products and toiletries such as skincare, hair care, make-up, and fragrances for both men and women. It also includes services such as hairdressing salons which are mainly aimed at women but men are starting to take more interest in their appearance these days. The global cosmetic industry is expected to reach $675 billion by 2020, according to Grand View Research. While some of the industry's growth can be attributed to a larger market for products (as the world's population continues to climb), part of the growth is also attributed to a higher demand for beauty products. The hair care industry has seen similar growth. In 2016, the value of the global hair care market was est...