Beauty and Personal Care Global Industry Overview

Strategy Briefing

About This Report

Jun 2017

The beauty and personal care industry made steady gains in 2016 driven by the premium segment and active categories, notably colour cosmetics in North America. Forecasts point to Asia Pacific as the growth stimulus as more consumers embark on a beauty routine. Elsewhere globally, higher per capita spending will encourage trading up. Coupled with key drivers including healthier and greener living, and the pursuit of personalised solutions, premiumisation will power the industry across all levels.

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Beauty and Personal Care Global Industry Overview

Health-based industry cross-pollination

Competition in the beauty industry is spanning beyond its conventional borders to include pharmaceutical and food and beverages players, which now boast numerous products claimed to support skin and hair health among other body functions.

Green, clean and sustainable consumption

Starting with demand for natural products, it is now wider-encompassing to include clean labels, ethical credentials and sustainable sourcing. Consumers scrutinise not only safety and efficacy, but also ethical considerations in a product’s development.

Personalised product experiences

Smart technology is standardising personalised beauty solutions. Going forward, personalisation facilitates expansion as brands seeking to widen their offer can more accurately meet consumer needs by informing line extensions with insights obtained from the delivery of personalised offerings.

Digital engagement

As smart devices and app-based diagnostics become ubiquitous, consumer expectations will shift as personalisation becomes achievable based on real-time updates that encourage users to track results and choose products that exactly fit their needs.

Alternative distribution models

E-commerce was the fastest growing retail channel over 2011-2016. This is emboldening beauty brands, big and small, to operate online in novel ways, notably social selling and subscription boxes, which are expected to proliferate, as consumers can be reached more widely via social media.

Introduction

Introduction

Examining five trends shaping beauty and personal care
Four areas of opportunity

Global Outlook

Beauty and personal care in context
Beauty and personal care in 2016: Value over volume drives the industry
Skin care dominates major markets, boosted by a premiumising category
Latin America projected to drive per capita spend in emerging regions
Asia Pacific by far is the beauty industry’s future growth engine
India and China to become the global powerhouses
The quest for healthy living encouraging greater spending on skin care
China and the US to persist as global revenue generation powers
E-commerce is the fastest growing channel in beauty and personal care
Positive revenue prospects from premiumisation will plateau

Leading Companies and Brands

Niche and local brands fragmenting key beauty opportunity zones
L’Oréal secures industry pole position after P&G’s multi-brand divestment
Top industry growth performers establishing a solid legacy

Key Trends Shaping Beauty and Personal Care

Megatrends shaping global beauty and personal care
Examining five trends shaping beauty and personal care
Quest for healthier lifestyle observed in cross-industry blurring
Conscious consumerism sweeping through the beauty industry
Premiumisation fuels demand for “made-for-me” experiences
Digital connectivity will raise the bar in beauty and personal care
E-commerce drives a plethora of novel distribution methods

Market Snapshots

Global Snapshot of Baby and Child-specific Products
Global Snapshot of Bath and Shower
Global Snapshot of Colour Cosmetics
Global Snapshot of Deodorants
Global Snapshot of Depilatories
Global Snapshot of Fragrances
Global Snapshot of Hair Care
Global Snapshot of Men’s Grooming
Global Snapshot of Oral Care
Global Snapshot of Sets/Kits
Global Snapshot of Skin Care
Global Snapshot of Sun Care
Regional Snapshot: North America
Regional Snapshot: Latin America
Regional Snapshot: Western Europe
Regional Snapshot: Eastern Europe
Regional Snapshot: Asia Pacific
Regional Snapshot: Middle East and Africa
Regional Snapshot: Australasia

Appendix: Industry Forecast Model

About Euromonitor International’s Industry Forecast Model
Soft drivers and the Industry Forecast Model
Growth decomposition explained
Significance and applications for growth decomposition
Key applications for Industry Forecast Models