The beauty industry, valued at £27.2 billion in the UK and $94.36 billion in the US, is currently booming. However, this growth is accompanied by environmental issues such as excessive packaging waste, with over 120 billion units produced globally each year. A significant portion of beauty products, up to 40%, is discarded unused, exacerbated by retail practices and limited donation options. Many brands struggle with excess inventory due to production forecasts failing to align with actual sales, leading to harmful disposal methods instead of sustainable practices, marking an urgent need for innovative solutions in the industry.
Despite the beauty industry's financial success—with the UK market reaching £27.2 billion—environmental concerns loom large due to excessive waste production.
The Courage to Change Report emphasizes that the beauty industry generates over 120 billion packaging units yearly, much of which ends up in landfills.
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