Market Insights Consumer Beauty & Personal Care

Cosmetics - Russia

Russia

In 2024, the revenue in the Cosmetics market in Russia amounts to €2.86bn.
It is projected that the market will grow annually by 2.34% (CAGR 2024-2029).
When comparing this to the global market, in the United States generates the most revenue with €18,470m in 2024.
Considering the total population, in 2024, per person revenues of €19.88 are generated in Russia.
Furthermore, it is estimated that by 2024, 95% of sales in the Cosmetics market in Russia will be attributable to Non-Luxury.
Russia's growing middle class is fueling a surge in demand for premium cosmetic products, leading to the expansion of luxury beauty brands in the country.

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

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Methodology

Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.