In 2018, beauty and personal care grew in Azerbaijan both in volume and current value terms, reflecting the improved macroeconomic situation and increased disposable incomes. Whilst economy products prevailed in the review period, there was some trading up to higher quality products.
The development of tourism and access to well-developed international markets supported the local market penetration of global beauty and fashion best-sellers and new launches in 2018. With growing consumer awareness, manufacturers expanded their portfolios, offering products that met the demand of consumers of different ages and income groups.
During 2018, international companies led beauty and personal care in Azerbaijan, including Procter & Gamble Azerbaijan, Improtex DC, Nivea Azerbaijan, Atropatena Ltd, Colgate-Palmolive Azerbaijan, L'Oréal Groupe, Kalina Concern OAO, Erkul Kozmetik San Ve Tic AS and Hunca Kozmetik Sanayii AS. Their success is attributable to their longstanding history, well-recognised global brands and innovative products.
Beauty and personal care manufacturers and distributors were active in offering new product developments during 2018. Companies’ marketing activities were driven by the improved macroeconomic situation, which supported the growth of disposable incomes.
Beauty and personal care is expected to record further growth and become saturated in Azerbaijan during the forecast period. Key drivers of growth include macroeconomic stability and the consequent willingness amongst consumers to consume more and spend more on personal care and their appearance due to their improved lifestyles.
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This industry report originates from Passport, our Beauty and Personal Care market research database.