Sales of cosmetic products in the UK will hit £1bn by the end 2006, market analyst firm Mintel has said.
Should the prediction turn out to be true, then total spend on cosmetic products would have jumped 40 per cent since 2001.
By the end of 2006, Brits will spend more on cosmetics than those in France, Spain and Germany.
According to Mintel, each woman in Britain will spend on average around £18 on make-up alone this year, nearly £4 more than their French counterparts.
"The British make-up market suffered in the 1990s as a result of the marked trend towards a 'natural' style and away from the 'made up' look, especially by younger women," said Michelle Strutton, senior market analyst at Mintel.
"But since the Millennium, glitz and glamour have made a comeback and colour once more reigns supreme, a development that has undoubtedly helped boost the industry."
The Mintel report revealed that France has the largest fragrances market in Europe, set to be worth an estimated 1.7bn Euros (£1.14bn) by the end of this year.
Mintel's research also shows that France has the biggest combined fragrances and cosmetics market.
Worth just under 3bn Euros (£2bn) this year, the French market has grown by 6 per cent since 2001.
Mintel said that about 2,050 new beauty products have been launched in France over the past 12 months, compared with 1,889 in the UK and 1,153 in Spain.
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