The boom days of beauty appear to be over—for now—but the industry is far from stagnant. World Data Lab estimates that the current size of the global beauty market is valued at $1.1 trillion, with a projected growth of $700 billion by 2034. New research from the consumer intelligence company found that the global beauty industry is experiencing a solid 7.3% increase in year-over-year (YoY) value.Beauty Markets Experiencing the Most Growth in 2025So, where is this growth coming from? The African-Middle East region is experiencing rapid growth, up 27% compared to last year, with Nigeria and Kenya showing notable growth. Latin America (LATAM) is following at 19%, demonstrating strong topline growth in this market segment, particularly in Mexico and Brazil. In both the African-Middle East and LATAM regions, the numbers are in part inflated by a high-inflation market, NielsenIQ notes.According to Tara James Taylor, Senior Vice President of Beauty and Personal Care at NielsenIQ, skincare is the fastest-growing category in LATAM.“In Brazil, one of the major trends in skincare right now is the 'massification' of skincare ingredients,” says Taylor. “Lower- and middle-income households now have greater access to popular skincare ingredients that were once primarily available to higher-income consumers. Dermo cosmetics brands such as Principia have gained significant share in 2024.”North America and Western Europe are growing at a steady rate of 7.8% and +7.7%, respectively. Looking deeper into the Western Europe market, Germany and Spain are experiencing gains, whereas France is facing slower growth driven by mass market in-store declines.