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Rise in working women participation creates an opportunity for countries to increase the size of their workforce and achieve additional economic growth. In addition, more number of working women leads to growth of cosmetics in the market.
Various manufacturers such as Patanjali Ayurved Limited, Dabur, and The Himalaya Drug Company use natural ingredients in cosmetics products. This trend caters to increase in consumer demand for natural or organic cosmetic products. Moreover, increase in health awareness among consumers is anticipated to contribute toward growth of the cosmetics market. However, the recent outbreak of coronavirus has significantly impacted the cosmetics industry along with all stages of supply chain and value chain. It has further affected consumer behavior with regards to purchasing cosmetics globally.
The cosmetics industry has been segmented on the basis of category, gender, distribution channel, and region. On the basis of category, the market is divided into skin and sun care products, hair care products, deodorants & fragrances and makeup & color cosmetics. By gender, it is divided into men, women, and unisex. On the basis of distribution channel, it is categorized into hypermarkets/supermarkets, specialty stores, pharmacies, online sales channels, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the report Avon Products Inc., Kao Corporation, L’Oreal S.A., Oriflame Cosmetics S.A., Revlon, Inc., Shiseido Company Limited, Skin Food Co., Ltd., The Estee Lauder Companies Inc., The Procter & Gamble Company and Unilever Plc.
KEY BENEFITS FOR STAKEHOLDERS
• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cosmetics market analysis from 2019 to 2027 to identify the prevailing market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth analysis of the cosmetics market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market industry.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global cosmetics market trends, key players, market segments, application areas, and market growth strategies.
KEY MARKET SEGMENTS
• By Category
o Skin and sun care products
o Hair care products
o Deodorants & fragrances
o Makeup and color cosmetics
• By Gender
o Men
o Women
o Unisex
• By Distribution channel
o Hypermarket/Supermarket
o Specialty Stores
o Pharmacies
o Online sales channel
o Others
• By Region
o North America
U.S.
Canada
Mexico
o Europe
UK
Germany
France
Russia
Italy
Spain
Rest of Europe
o Asia-Pacific
China
Japan
India
Australia & New Zealand
Korea
ASEAN
Rest of Asia-pacific
o LAMEA
Brazil
South Africa
Turkey
Saudi Arabia
Rest of LAMEA
1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segment
1.4.Research methodology
1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.Key findings of the study
2.1.1.Top impacting factors
2.1.2.Top investment pockets
2.1.3.Parent market analysis
2.2.CXO perspective
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Porter's five forces analysis
3.3.Market dynamics
3.3.1.Drivers
3.3.1.1.Changing lifestyle
3.3.1.2.Rising need for skin care products
3.3.1.3.Increasing demand for natural ingredients in cosmetic products
3.3.1.4.Changing packaging styles and attractive marketing strategies
3.3.1.5.Rise in disposable income
3.3.2.Restraints
3.3.2.1.Increasing awareness of probable side effects of chemical based cosmetics
3.3.3.Opportunities
3.3.3.1.Increasing demand of organic cosmetics
3.3.3.2.Social media marketing
3.1.COVID-19 impact on cosmetics market
CHAPTER 4:COSMETICS MARKET, BY CATEGORY
4.1.Overview
4.1.1.Market size and forecast
4.2.Skin and sun care products
4.2.1.Key market trends, growth factors and opportunities
4.2.2.Market size and forecast
4.2.3.Market analysis by country
4.3.Hair care products
4.3.1.Key market trends, growth factors and opportunities
4.3.2.Market size and forecast
4.3.3.Market analysis by country
4.4.Deodorants and fragrances
4.4.1.Key market trends, growth factors and opportunities
4.4.2.Market size and forecast
4.4.3.Market analysis by country
4.5.Makeup and color cosmetics
4.5.1.Key market trends, growth factors and opportunities
4.5.2.Market size and forecast
4.5.3.Market analysis by country
CHAPTER 5:COSMETICS MARKET, BY GENDER
5.1.Overview
5.1.1.Market size and forecast
5.2.Men
5.2.1.Key market trends, growth factors and opportunities
5.2.2.Market size and forecast
5.2.3.Market analysis by country
5.3.Women
5.3.1.Key market trends, growth factors and opportunities
5.3.2.Market size and forecast
5.3.3.Market analysis by country
5.4.Unisex
5.4.1.Key market trends, growth factors and opportunities
5.4.2.Market size and forecast
5.4.3.Market analysis by country
CHAPTER 6:COSMETICS MARKET, BY DISTRIBUTION CHANNEL
6.1.Overview
6.1.1.Market size and forecast
6.2.Hypermarket/Supermarket
6.2.1.Key market trends, growth factors and opportunities
6.2.2.Market size and forecast
6.2.3.Market analysis by country
6.3.Specialty Stores
6.3.1.Key market trends, growth factors and opportunities
6.3.2.Market size and forecast
6.3.3.Market analysis by country
6.4.Pharmacies
6.4.1.Key market trends, growth factors and opportunities
6.4.2.Market size and forecast
6.4.3.Market analysis by country
6.5.Online Sales Channel
6.5.1.Key market trends, growth factors and opportunities
6.5.2.Market size and forecast
6.5.3.Market analysis by country
6.6.Others
6.6.1.Key market trends, growth factors and opportunities
6.6.2.Market size and forecast
6.6.3.Market analysis by country
CHAPTER 7:COSMETICS MARKET, BY REGION
7.1.Overview
7.1.1.Market size and forecast, by region
7.2.North America
7.2.1.Key market trends, growth factors, and opportunities
7.2.2.Market size and forecast by category
7.2.3.Market size and forecast by gender
7.2.4.Market size and forecast by distribution channel
7.2.5.Market analysis by country
7.2.5.1.U.S.
7.2.5.1.1.Market size and forecast by category
7.2.5.1.2.Market size and forecast by gender
7.2.5.1.3.Market size and forecast by distribution channel
7.2.5.2.CANADA
7.2.5.2.1.Market size and forecast by category
7.2.5.2.2.Market size and forecast by gender
7.2.5.2.3.Market size and forecast by distribution channel
7.2.5.3.MEXICO
7.2.5.3.1.Market size and forecast by category
7.2.5.3.2.Market size and forecast by gender
7.2.5.3.3.Market size and forecast by distribution channel
7.3.Europe
7.3.1.Key market trends, growth factors, and opportunities
7.3.2.Market size and forecast by category
7.3.3.Market size and forecast by gender
7.3.4.Market size and forecast by distribution channel
7.3.5.Market analysis by country
7.3.5.1.UK
7.3.5.1.1.Market size and forecast by category
7.3.5.1.2.Market size and forecast by gender
7.3.5.1.3.Market size and forecast by distribution channel
7.3.5.2.GERMANY
7.3.5.2.1.Market size and forecast by category
7.3.5.2.2.Market size and forecast by gender
7.3.5.2.3.Market size and forecast by distribution channel
7.3.5.3.FRANCE
7.3.5.3.1.Market size and forecast by category
7.3.5.3.2.Market size and forecast by gender
7.3.5.3.3.Market size and forecast by distribution channel
7.3.5.4.RUSSIA
7.3.5.4.1.Market size and forecast by category
7.3.5.4.2.Market size and forecast by gender
7.3.5.4.3.Market size and forecast by distribution channel
7.3.5.5.ITALY
7.3.5.5.1.Market size and forecast by category
7.3.5.5.2.Market size and forecast by gender
7.3.5.5.3.Market size and forecast by distribution channel
7.3.5.6.SPAIN
7.3.5.6.1.Market size and forecast by category
7.3.5.6.2.Market size and forecast by gender
7.3.5.6.3.Market size and forecast by distribution channel
7.3.5.7.REST OF EUROPE
7.3.5.7.1.Market size and forecast by category
7.3.5.7.2.Market size and forecast by gender
7.3.5.7.3.Market size and forecast by distribution channel
7.4.Asia-Pacific
7.4.1.Key market trends, growth factors, and opportunities
7.4.2.Market size and forecast by category
7.4.3.Market size and forecast by gender
7.4.4.Market size and forecast by distribution channel
7.4.5.Market analysis by country
7.4.5.1.CHINA
7.4.5.1.1.Market size and forecast by category
7.4.5.1.2.Market size and forecast by gender
7.4.5.1.3.Market size and forecast by distribution channel
7.4.5.2.JAPAN
7.4.5.2.1.Market size and forecast by category
7.4.5.2.2.Market size and forecast by gender
7.4.5.2.3.Market size and forecast by distribution channel
7.4.5.3.INDIA
7.4.5.3.1.Market size and forecast by category
7.4.5.3.2.Market size and forecast by gender
7.4.5.3.3.Market size and forecast by distribution channel
7.4.5.4.AUSTRALIA AND NEW ZEALAND
7.4.5.4.1.Market size and forecast by category
7.4.5.4.2.Market size and forecast by gender
7.4.5.4.3.Market size and forecast by distribution channel
7.4.5.5.SOUTH KOREA
7.4.5.5.1.Market size and forecast by category
7.4.5.5.2.Market size and forecast by gender
7.4.5.5.3.Market size and forecast by distribution channel
7.4.5.6.ASEAN
7.4.5.6.1.Market size and forecast by category
7.4.5.6.2.Market size and forecast by gender
7.4.5.6.3.Market size and forecast by distribution channel
7.4.5.7.REST OF ASIA-PACIFIC
7.4.5.7.1.Market size and forecast by category
7.4.5.7.2.Market size and forecast by gender
7.4.5.7.3.Market size and forecast by distribution channel
7.5.LAMEA
7.5.1.Key market trends, growth factors, and opportunities
7.5.2.Market size and forecast by category
7.5.3.Market size and forecast by gender
7.5.4.Market size and forecast by distribution channel
7.5.5.Market analysis by country
7.5.5.1.BRAZIL
7.5.5.1.1.Market size and forecast by category
7.5.5.1.2.Market size and forecast by gender
7.5.5.1.3.Market size and forecast by distribution channel
7.5.5.2.SOUTH AFRICA
7.5.5.2.1.Market size and forecast by category
7.5.5.2.2.Market size and forecast by gender
7.5.5.2.3.Market size and forecast by distribution channel
7.5.5.3.TURKEY
7.5.5.3.1.Market size and forecast by category
7.5.5.3.2.Market size and forecast by gender
7.5.5.3.3.Market size and forecast by distribution channel
7.5.5.4.SAUDI ARABIA
7.5.5.4.1.Market size and forecast by category
7.5.5.4.2.Market size and forecast by gender
7.5.5.4.3.Market size and forecast by distribution channel
7.5.5.5.REST OF LAMEA
7.5.5.5.1.Market size and forecast by category
7.5.5.5.2.Market size and forecast by gender
7.5.5.5.3.Market size and forecast by distribution channe
TABLE 01.COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 02.COSMETICS MARKET REVENUE FOR SKIN AND SUN CARE PRODUCTS, BY REGION, 2019–2027 ($BILLION)
TABLE 03.COSMETICS MARKET REVENUE FOR HAIR CARE PRODUCTS, BY REGION, 2019–2027 ($BILLION)
TABLE 04.COSMETICS MARKET REVENUE FOR DEODORANTS AND FRAGRANCES, BY REGION, 2019–2027 ($BILLION)
TABLE 05.COSMETICS MARKET REVENUE FOR MAKEUP AND COLOR COSMETICS, BY REGION, 2019–2027 ($BILLION)
TABLE 06.COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 07.COSMETICS MARKET REVENUE FOR MEN, BY REGION, 2019–2027 ($BILLION)
TABLE 08.COSMETICS MARKET REVENUE FOR WOMEN, BY REGION, 2019–2027 ($BILLION)
TABLE 09.COSMETICS MARKET REVENUE FOR UNISEX, BY REGION, 2019–2027 ($BILLION)
TABLE 10.COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 11.COSMETICS MARKET REVENUE FOR HYPERMARKET/SUPERMARKET, BY REGION, 2019–2027 ($BILLION)
TABLE 12.COSMETICS MARKET REVENUE FOR SPECIALTY STORES , BY REGION, 2019–2027 ($BILLION)
TABLE 13.COSMETICS MARKET REVENUE FOR PHARMACIES, BY REGION, 2019–2027 ($BILLION)
TABLE 14.COSMETICS MARKET REVENUE FOR ONLINE SALES CHANNEL, BY REGION, 2019–2027 ($BILLION)
TABLE 15.COSMETICS MARKET REVENUE FOR OTHERS, BY REGION, 2019–2027 ($BILLION)
TABLE 16.COSMETICS MARKET REVENUE, BY REGION, 2019–2027 ($BILLION)
TABLE 17.NORTH AMERICA COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 18.NORTH AMERICA COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 19.NORTH AMERICA COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 20.NORTH AMERICA COSMETICS MARKET REVENUE, BY COUNTRY, 2019–2027 ($BILLION)
TABLE 21.U.S. COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 22.U.S. COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 23.U.S. COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 24.CANADA COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 25.CANADA COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 26.CANADA COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 27.MEXICO COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 28.MEXICO COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 29.MEXICO COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 30.EUROPE COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 31.EUROPE COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 32.EUROPE COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 33.EUROPE COSMETICS MARKET REVENUE, BY COUNTRY, 2019–2027 ($BILLION)
TABLE 34.UK COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 35.UK COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 36.UK COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 37.GERMANY COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 38.GERMANY COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 39.GERMANY COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 40.FRANCE COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 41.FRANCE COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 42.FRANCE COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 43.RUSSIA COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 44.RUSSIA COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 45.RUSSIA COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 46.ITALY COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 47.ITALY COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 48.ITALY COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 49.SPAIN COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 50.SPAIN COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 51.SPAIN COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 52.REST OF EUROPE COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 53.REST OF EUROPE COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 54.REST OF EUROPE COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 55.ASIA-PACIFIC COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 56.ASIA-PACIFIC COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 57.ASIA-PACIFIC COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 58.ASIA-PACIFIC COSMETICS MARKET REVENUE, BY COUNTRY, 2019–2027 ($BILLION)
TABLE 59.CHINA COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 60.CHINA COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 61.CHINA COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 62.JAPAN COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 63.JAPAN COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 64.JAPAN COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 65.INDIA COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 66.INDIA COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 67.INDIA COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 68.AUSTRALIA AND NEW ZEALAND COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 69.AUSTRALIA AND NEW ZEALAND COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 70.AUSTRALIA AND NEW ZEALAND COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 71.SOUTH KOREA COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 72.SOUTH KOREA COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 73.SOUTH KOREA COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 74.ASEAN COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 75.ASEAN COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 76.ASEAN COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 77.REST OF ASIA-PACIFIC COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 78.REST OF ASIA-PACIFIC COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 79.REST OF ASIA-PACIFIC COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 80.LAMEA COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 81.LAMEA COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 82.LAMEA COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 83.LAMEA COSMETICS MARKET REVENUE, BY COUNTRY, 2019–2027 ($BILLION)
TABLE 84.BRAZIL COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 85.BRAZIL COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 86.BRAZIL COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 87.SOUTH AFRICA COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 88.SOUTH AFRICA COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 89.SOUTH AFRICA COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 90.TURKEY COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 91.TURKEY COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 92.TURKEY COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 93.SAUDI ARABIA COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 94.SAUDI ARABIA COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 95.SAUDI ARABIA COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
TABLE 96.REST OF LAMEA COSMETICS MARKET REVENUE, BY CATEGORY, 2019–2027 ($BILLION)
TABLE 97.REST OF LAMEA COSMETICS MARKET REVENUE, BY GENDER, 2019–2027 ($BILLION)
TABLE 98.REST OF LAMEA COSMETICS MARKET REVENUE, BY DISTRIBUTION CHANNEL, 2019–2027 ($BILLION)
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