The UK is home to a thriving beauty industry that is taking off, according to a new report.
Key points:The UK has more than 1.8 million beauty doctors and more than 10,000 cosmetic and hair specialistsIt is also home to more than 100,000 beauty products, which make up more than a quarter of the UK’s cosmetics and personal care supplyThe UK’s beauty industry is now worth £1.4 billion, making it the second biggest in the world after the US, according the report by market research company Zootox.
Zootox said it is one of the first international companies to publish a global estimate of the beauty industry.
It said the UK had more than one million beauty professionals and about 10,400 cosmetic and personalcare suppliers.
But it was a far cry from its previous estimate, which put the number of beauty professionals in the country at about 5,000.
“The UK is the world’s third biggest market for beauty professionals, behind only the US and France,” the report said.
“It is home, among other things, to more cosmetic and skin care products than any other country.”
The UK beauty industry has grown rapidly since 2010 when it was estimated at about 2,000-3,000 people.
But since then, the number has grown by 30 per cent.
Zootax said the growth in the UK beauty market was driven by growth in a range of sectors, including cosmetic, hair and nail salons, and skin and nail products.
The report found that cosmetic salons and nail salon owners had a 30 per year growth in revenue between 2015 and 2020, while beauty specialists were valued at $3.4bn.
The industry is also booming in the hair and beauty sectors, with a 25 per cent growth in revenues between 2015-2020.
It is estimated that the UK is now home to almost 1.9 million beauty graduates, making up nearly a quarter (24 per cent) of the country’s graduates.
“In the past five years, UK graduates have been the fastest-growing workforce in the United Kingdom, increasing at a rate of almost three times the national average,” the company said.
The UK currently has some of the highest rates of female unemployment in the EU.
More than one in four UK jobs is held by women, compared with just 7 per cent for men.
The Zootax report also noted that beauty jobs were becoming less attractive, with just one in three jobs in 2015 requiring a hair or beauty degree.
In 2016, there were about 1,800 more female graduates than male graduates, with women accounting for just over half (53 per cent).
The number of female graduates rose from 14 per cent in 2015 to 26 per cent last year, but Zootexx said the number was likely to fall to just under 30 per day by 2020.
And the number in the industry has remained stable over the past decade, with only a slight decline in the past two years.
The UK also has a growing population of female beauty graduates.
Between 2015 and 2016, the total number of graduates increased from about 12,000 to 16,000, the company added.
While the number will fall in the next few years, the figure is expected to remain stable.