Kearney: Beauty and Wellness Merge Into a $937 Billion Global Market
Global strategy and management consulting firm Kearney has released its 2027 Beauty Outlook Report, revealing that beauty, health, and wellness are rapidly consolidating into a single market valued at $937 billion and growing by more than 5% annually.
Based on a survey of 2,500 beauty consumers across France, China, Japan, the UK, and the United States, the report identifies six patterns reshaping the industry:
- Market fragmentation
- Integration of wellness
- Growth of beauty services
- Artificial intelligence
- Advocacy-led commerce
- Product loyalty
Among the report’s most striking findings, consumers are now twice as likely to use beauty products for wellness purposes as for self-expression. Beauty services are also growing faster than products and account for more than 50% of global beauty spending.
Fragrance is the fastest-growing category, at 10%, while beauty products overall have grown 6% annually for four consecutive years. The report also highlights how AI is reshaping the way consumers discover and research beauty products.
“Beauty is expanding well beyond products to services, health, and wellness,” said Tatiana Perim, Kearney partner and report co-author.
The findings carry significant strategic implications for brands navigating a market that is, as the report puts it, “shape-shifting faster than it’s growing.”
Source: PR Newswire – Kearney Releases 2027 Beauty Outlook Report