Market Insights Consumer Beauty & Personal Care

Cosmetics - Russia

Russia

In 2024, the revenue in the Cosmetics market in Russia amounts to €2.89bn.
It is projected that the market will grow annually by 2.75% (CAGR 2024-2029).
When comparing this to the global market, in the United States generates the most revenue with €18,660m in 2024.
Considering the total population, in 2024, per person revenues of €20.08 are generated in Russia.
Furthermore, it is estimated that by 2024, 67% 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

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.