The ever-changing face of the cosmetic industry: What does the future hold?
Not too long ago, cosmetic treatments were seen as something only the rich and famous could afford. Consumers were worried that procedures were too invasive, and that they would have no choice but to put up with stitches and bruises for weeks after the surgery, but times have changed.
Innovations in technology have altered the industry forever. Here we take a look at what’s different, and predict what the cosmetic industry will look like in a few years’ time.
Despite the recession, the cosmetic industry is booming
The financial crisis around the globe has affected many industries, but not cosmetics. A report by GBI Research notes that the facial aesthetics market in particular has enjoyed impressive growth over the past few years. In fact, it’s been expanding globally at a rate of more than ten per cent a year. By 2020, GBI believes it will have doubled in size to $5.3 billion (£3.46 billion).