The Cosmetic Injectables industry is on fire.
Some stats that will blow your mind:
1. Global market growth of 12-14% annually over the next five years.
2. Canadian health and beauty industry set to reach $8.83 billion by 2024.
3. Increasing diversity among cosmetic injectable consumers, including younger individuals and males.
But it’s not until you break each of these down that you realize how quickly the Cosmetic Injectables industry is really growing:
1. Global market growth of 12-14% annually over the next five years.
This is an impressive stat at face value.
But what’s 10x more impressive is that this growth comes despite recent global crises.
That’s substantially more resilient than many other luxury sectors.
This is a signal of where things might be headed.
2. Canadian health and beauty industry set to reach $8.83 billion by 2024.
The last time an industry saw growth like this, it was in the early 2000s when tech startups were booming.
3. Increasing diversity among cosmetic injectable consumers, including younger individuals and males.
As if the above wasn’t impressive enough, this stat is just mind-boggling.
To give you a sense of how big that is, that’s like every adult in a large city becoming a potential client.
Or every follower of a major social media influencer taking interest.
My guess?
Cosmetic Injectables is going to eventually overtake mainstream beauty products the same way digital media overtook traditional media.
And at this rate, that will probably happen by 2030.
What do you think?
Do you agree? Disagree?
Let me know in the comments.
