The global beauty industry will hit a value of $670 billion by the end of this year, according to Euromonitor International, with an average annual growth of 9% over the next four years.
And that's not counting packaging, which is expected to grow at a slightly slower rate of 6% over the same period.
CNBC reports on some of the bright spots in the industry, which it says is being helped by "post-pandemic beauty market growth," as well as by a shift toward more local brands in China.
For example, Italian manufacturer Intercos Group says sales in its hair and body unit were up 47% last year, while sales in its makeup division were up 9.5%.
"The hair and body unit enabled us to sustain our growth at a specific category or fully grasp many opportunities the sector is offering," the company's CEO tells CNBC.
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Sydney TAFE has teamed with a new clothing and retail social enterprise, The Social Outfit charity, to launch a dynamic collaboration that would enable students to gain real fashion industry skills and take on their own creativity and rich cultural heritage to produce garments for The Social Outfit’s store and adjoining workshop in Newtown.