Australian Beauty Industry in 2023 – Statistics and Market Analysis

As Australia’s hair and beauty industry continues to grow, I have decided to take a closer look at this emerging market.

I’ve prepared a brief report on the Australian cosmetic market in this article: statistics, market analysis, and forecasts.

Is the Australian Beauty Industry Growing?

Beauty is a quick-paced and highly competitive industry that’s changing very fast.

Consumers’ growing demand for self-care and sustainability translates into a higher demand for natural and cruelty-free cosmetics.

Also, the appearance of private-label cosmetics has reinforced the growth of such trends.

Nevertheless, the global beauty industry grew, valued at $590 Billion (USD) in 2022.

Moreover, this number is predicted to be $716.6 Billion by 2025, according to ‘Grand View Research’.

Why do Australians Keep Spending on Beauty?

First, the beauty industry has gained much popularity over the past five years, reaching a robust and permanent position in the global market.

Second, most beauty services can’t be replaced by cheap internet knock-offs.

The beauty market connects people with services provided by specialist salons, and customers happily pay up.

But, the success of the beauty industry isn’t just down to salons and country popularity.

It is also the rise of the gender-fluidity movement that has spilled over into the beauty and cosmetics markets.

For example, the market for men’s makeup is booming.

Men spend more time (and money) on beauty, cosmetics, and skincare treatments than ever before.

Therefore, it is only natural that the global beauty industry would see such growth.

How Big is the Australian Beauty Industry?

Australia is no exception to the growth of the beauty industry.

Although it has a smaller population than many Westernized countries, Australians spend a good chunk on beauty imports yearly.

In fact, in 2021-2022, Australia’s expenses on beauty imports increased to an impressive $998,449,000 (AUD).

However, that figure pales compared to the UK, which during the same period spent over $2 billion.

The same applies to China, which topped the league beauty purchasing table with an annual spend of $13,231,829,000.

If we focus on Australia, there’s a massive difference in beauty expenses, depending on which area the buyers live in.

Data shows that customers from Queensland, South Australia, or New South Wales spend nearly $1K annually on looking and feeling gorgeous.

However, the figure is much lower in other parts of Australia, dropping to under $500 in Tasmania and the Australian Capital Territory.

Prices for special beauty treatments differ greatly from city to city.

You might pay $136 for a hair appointment in Perth, whereas in Darwin, you could pay a much lower price of $77 for the same service.

What is the Number 1 Skincare Brand in Australia?

Although many beauty brands are made in Australia, L’Oreal remains Australia’s favorite skincare brand.

Other beauty brands Australians purchase are Revlon, MAC, Neutrogena, Lancome, Avon, Clinique, and Hermes – in no particular order.