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Beauty Industry Booms: Growth & Trends
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Africa's Booming Beauty Industry
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Overview
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The beauty industry is on a growth trajectory with a global market projected to exceed $128 billion by 2028. L'Oréal leads with $40 billion in sales, and skincare dominates 42% of the market. The US hair care market is expected to generate $13.6 billion in 2024, while the clean beauty sector is booming, set to reach $54.5 billion by 2027.
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How might the increasing consumer demand for clean beauty products impact traditional cosmetics companies?
In what ways could the growth of online beauty product sales reshape the retail landscape?
What strategies could beauty brands adopt to capitalize on the trend towards sustainable and organic products?
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