The beauty and fashion industries are going through a massive transformation, with the beauty and personal care industry expected to grow at a faster rate than the rest of the industry in 2020.
The Beauty and Personal Care Industry is expected to expand at a rate of 1.3% in 2020, up from 0.5% in 2019.
The industry is projected to grow by 8.7% in the next 10 years, up 14.4% from 2019.
That’s a significant increase in just three years, with some analysts expecting the industry to double or triple in size over the next decade.
The beauty industry also has the fastest-growing consumer segment of women, according to the NPD Group.
The category of women with the highest expectations for the coming decade, according the NPS, is millennials, who are the generation most likely to purchase beauty products online.
The makeup industry is expected have the fastest growth rate of any of the beauty, personal care and consumer categories, as the market shifts to an online environment.
The cosmetics industry is forecast to grow in 2020 at 1.6%, up from 1.1% in 2018.
The increase is due to new consumer demand, as millennials increasingly are using social media and shopping more online, and are searching for products online that will help them achieve their desired appearance.
The market is expected increase by 2.7%, up 2.3 percentage points from the same period in 2019, with a large portion of the growth attributed to millennials looking for products that enhance their complexion and skin tone, as well as their hair, hair accessories and makeup.
The fashion industry is also expected to see an increase in 2020 with a 1.9% increase from 2019, but with a relatively small portion of growth attributed directly to the growth of women’s fashion.
The apparel and accessories industry is predicted to see a slight decrease in 2020 due to a drop in the popularity of the more traditional categories.
However, the overall market is forecast by NPD to grow an estimated 1.7 percentage points, up by 0.6 percentage points in 2019 and by 2 percentage points the following year.
The Personal Care category is expected by NPS to grow the fastest in 2020 by an estimated 3.6% from 2018, while the Personal Care and Beauty category is forecasted to grow a slightly smaller 2.2 percentage points.
The personal care, beauty and cosmetic industries are projected to add an estimated 13,000 jobs in 2020 as a result of an increase of 2.5 million people and an increase for the overall consumer sector of 1 million jobs.
The NPD estimates the consumer sector will add more than 5.2 million jobs by 2020.
With these projections, we can say that in 2020 we are expected to witness a major transformation in the beauty industry and the personal care category, as women are looking to purchase more makeup and products online and in-store, and will use the internet to purchase products that will enhance their appearance.
A lot of the changes will likely be due to changes in the consumer trends in the U.S. and worldwide, as more women are opting for convenience over beauty and will no longer rely on makeup.
For the personal services industry, growth in the overall category is projected at 1% in 2023, with growth in 2019 being a slight increase.
In 2019, the NMS forecasted that the Personal Services industry would add an additional 1.4 million jobs, an increase from the previous year’s projection of an additional 0.9 million jobs and a 1% increase in 2018, an average of 3.8% annually.
The U.K. and Europe are expected, however, to see their personal services sectors grow faster than the U