Rising consumer incomes and changing lifestyles are driving the growth in the global beauty care products industry, which is forecasted to hit ~$270 billion by 2017. Skincare is the largest segment, with hair care being a close second. North America, Latin America, Asia-Pacific and Western Europe own the biggest shares in global revenues. Since the beginning of the century the cosmetic markets of the BRIC countries (Brazil, Russia, India, and China) have been growing very fast.
The demand for cosmetics will grow, fueled by the emerging markets of Asia and Latin America. Global manufacturers will have to adjust their products to the expectations of their new customers, originating from different, non-Western cultures and behaving differently.