Report · Source: Swedish Institute
How Sweden's beauty sector is helping transform the global industry.
Innovative, sustainable, and science-backed solutions from a small country with a global footprint in beauty.
01
A new era for global beauty
Growth remains strong, but success is increasingly decided by how companies respond to changing consumer expectations, sustainability requirements, regulation and digital transformation. Informed consumers now expect innovation and performance combined with authenticity, transparency and credibility.
01
Shifting, fast-paced market
Social media accelerates trend cycles - products can become global successes overnight, and loyalty is harder to keep.
02
Savvy, demanding consumers
Competition is rising, and customers demand quality and products that deliver what the marketing claims.
03
Increased resource pressures
Sustainability is now a mainstream expectation around ingredients, packaging, sourcing and environmental impact.
EUR 592 b
Projected global revenue of the cosmetics industry in 2026 - slightly less than the global commercial aviation industry.
35-43%
Skincare is the largest segment.
EUR 10.2 b
Spent on R&D by skincare companies in 2023, a 12% increase from 2022.
Consumers increasingly expect proof that products work - driving investment in testing, formulation science and product development, and creating opportunities for science-led ecosystems like Sweden's.
02
Sweden: More than skin deep
Sweden's strength is not a single company or technology, but an ecosystem built on innovation and collaboration. Rather than chasing complexity, Swedish beauty simplifies routines while maintaining performance - earning a reputation for responsible innovation, functional design and high product standards.
- Cutting-edge material science
- Digital-first expertise that innovates, tests, and scales
- Functional, trusted, and conscious solutions
- Strong mix of heritage and emerging brands
- World-leading safety, design, and packaging standards
03
Sweden - small but mighty, a global player
Sweden is a small country, yet its beauty and personal care industry plays in the global top league. Around 70% of Swedish consumers actively look for eco-labels, and a manufacturing base focused on quality, transparency and compliance - rather than volume alone - lets brands innovate, test and scale responsibly.
~5,400
Companies registered within the beauty, personal care, and cosmetics space.
19th
Largest global exporter of beauty products.
10th
Largest beauty exporter to the US.
2.5x
More growth than the South Korean K-beauty market, 2019-2024.
04
Global standards leader
Policies and a responsive industry drive change - and Swedish industry practice goes beyond compliance. Sweden consistently exceeds EU packaging recycling targets, with an overall recycling rate above 85% for packaging materials, leaving Swedish producers well prepared for the new EU Packaging and Packaging Waste Regulation.
#1
Global Sustainability Competitiveness Index
#2
Most innovative economy
#1
Global Opportunity Index
05
Less is more
“Swedish beauty tends to optimise what already exists: healthy skin, natural expression and long-term wellbeing.”
The principle runs through packaging, ingredients and routines alike - quality doesn't have to mean complicated.
Simplified, effective routines
Multi-functional products
Clear, verifiable claims
Design that follows function
06
A complete palette of products and solutions
Sweden's beauty ecosystem covers every major area, each with complete value chains and companies offering high-quality products that have been robustly tested and scaled.
07
Taking Swedish beauty global
Swedish beauty reaches far across Europe - and together with its strong position in the US, it is putting Swedish brands on the global map.
Top export markets, April 2026
- NorwaySEK 292 m
- DenmarkSEK 112 m
- FinlandSEK 60.1 m
- GermanySEK 56.4 m
- NetherlandsSEK 16 m
Source: Swedish Institute, 2026 (data: Statista, SCB, US International Trade Commission, UN Comtrade, OEC). Presented by the Association of Swedish Beauty Brands.