Over the next five years, consumers will be willing to invest even more money in the pursuit of health and beauty, according to analyst Global Data.
Annual spend per head is forecast to rise by £73 to £487 over the next five years, making beauty the fastest growing sector in the UK by 2022.
The research also showed that nine out of 10 health and beauty shoppers still purchase products in store, but that spend is shifting online, with web sales set to reach £3.1 billion by 2022.
Skincare is predicted to be the fastest-growing category in beauty, thanks to product innovation, with sales forecast to rise 28%, with a key focus on masks, serums and primers.
Global Data lead analyst Kate Ormrod commented: “Consumer appetite for new cult products is expected to grow over the next five years, providing retailers and brands with license to push the boundaries and introduce new, innovative items to their ranges to drive impulse purchases and spend per head.”