British Beauty Council has revealed the British beauty industry grew by an impressive 11% last year – with signs it is shaking off the triple hangovers of Brexit, Covid and the cost of living crisis, the new report shows.

According to the British Beauty Council’s latest Value of Beauty Report compiled by Oxford Economics, sales reached £27.2bn last year for both products and services. This is close to the pre-Covid average of £28bn. The growth puts the personal care industry ahead of publishing, chemical manufacturing, and the creative arts and entertainment industries.

Key findings from the Value of Beauty Report include:

• In 2023, the beauty and personal care industry made a direct contribution to UK GDP of £13.5 billion. The industry’s activities supported an additional £13.6 billion of UK GDP through its supply chain and employee spending, implying a total contribution of £27.2 billion.
• Nearly half of the personal care industry’s total GDP contribution in 2023 (£13.5 billion) was generated by the industry itself, representing 0.5% of the nation’s GDP.
• The industry’s workforce increased to 418,000 in 2023, a 10% increase on the previous year. As an employer, the beauty industry is more important than the real estate sector.
• Economic activity sustained by the beauty and personal care industry supported £7.3 billion in tax revenues, of which £3.6 billion was contributed directly by the sector and its workforce.