Market Insights Consumer Beauty & Personal Care

Cosmetics - Philippines

Philippines

In the Philippines, the revenue in the Cosmetics market is projected to reach US$794.20m units in 2024.
It is expected that the market will experience an annual growth rate of 1.23% (CAGR 2024-2029).
When compared globally, in the United States leads the pack with a revenue of US$20,130m units in 2024.
Looking at the per person revenue, in 2024, each individual in the Philippines contributes US$6.67 units to the total revenue.
Additionally, by 2024, 74% of the sales in the Cosmetics market will be attributed to Non-Luxury.
The demand for natural and organic cosmetics is growing rapidly in the Philippines, driven by the country's strong focus on sustainability and eco-friendly products.

Key regions: Malaysia, Singapore, Worldwide, Indonesia, India

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Methodology

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, regression analysis and Monte Carlo simulations are particularly suited for forecasting in the Home and Laundry Care market, due to the unpredictable variability and complex dynamics in consumer behavior and product adoption. The main drivers are GDP and consumer spending.