The Philippine beauty industry is projected to post sales growth of up to 10% this year, according to a report by Philstar.com. The positive outlook comes as consumer spending on skincare, cosmetics, and personal care products continues to strengthen.
Industry analysts attribute the growth to increasing demand for local and international beauty brands, as well as the rising influence of social media and e-commerce platforms. The recovery of the retail sector and higher disposable incomes are also supporting spending in the category.
For retailers and beauty brands, the projected uptick signals renewed momentum after pandemic-era disruptions. Companies are expected to expand product lines and ramp up digital marketing efforts to capture a larger share of the growing market.