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Beauty Industry Booming: Key Insights
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The global beauty industry is on a growth trajectory, set to reach $128.89 billion by 2028. L'Oréal leads with $40 billion in sales. Skincare dominates 42% of the market, while the US hair care market is expected to hit $13.6 billion by 2024. Online beauty product sales are projected to soar to $45 billion in the US by 2027.
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How will the beauty industry adapt to consumers' demand for personalized experiences and inclusivity?
What impact will the growth of online sales have on traditional brick-and-mortar beauty retailers?
What strategies can smaller beauty brands employ to compete with industry giants like L'Oréal?
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