It was only yesterday that we reported on the new beauty trend known as the ‘beauty bomb’ and it looks like we might be right.
But that’s not all.
The US has also emerged as a big contender for the beauty bomb, with reports suggesting that the US has more than 50% of the world’s beauty products, according to a recent report by the World Economic Forum.
According to a report by The Washington Post, the United Kingdom is the second-biggest market for US-made beauty products.
A survey by Gartner said that the country had more than 2.6 billion products in use worldwide, with the US at the top of the list with nearly 5% of total market share.
The US is also the world leader in beauty-related retail sales, according a survey by the American Beauty Council, which noted that more than 3,000 beauty retailers across the US accounted for more than $1.8 billion in sales.
The survey also found that sales of high-end cosmetics, nail polish, lip products and other skin-care products are the biggest source of revenue for beauty-focused businesses.
While it is possible that US manufacturers will make more products in India as part of the new wave, the new trend could also be affecting other parts of the globe.
In India, the popularity of beauty products has been on the rise, with beauty products being popular among young women, who are increasingly using them for skin-softening and anti-aging purposes, according TOI.
In the past few years, the Indian beauty market has also grown significantly, according data by industry tracker NPD Group.
In 2014, Indian beauty brands made up 20.6% of global sales, while in 2015, that figure rose to 24.2%.
According to NPD, the beauty market in India is expected to grow by 16.5% in the next four years, driven by the rise in the demand for face masks and other skincare products.
According a survey conducted by the International Beauty Association (IAA), a trade body for the industry, the market is expected increase by 20.3% to reach $17.6 trillion by 2020.