During 2020 and 2021, demand came under pressure in all categories of beauty and personal care due to the impact of Lebanon’s deep and sustained economic crisis and the COVID-19 pandemic. While consumers were going out to socialise less often, prices soared due to inflation and exchange rate anomalies.
Towards the end of the review period, beauty and personal care was negatively affected by the economic crisis that has engulfed Lebanon in recent years. Volume growth rates dropped dramatically in 2019 as household incomes came under extreme pressure and demand has increased only very slowly since then, although value growth rates have soared as rampant inflation has taken hold.
The major story in Lebanon’s beauty and personal care industry towards the end of the review period was the deep and seemingly intractable economic crisis which has plagued the country since the middle of 2019. In particular, rampant price inflation is hitting Lebanese consumers very hard.
Lebanon’s economic collapse continued to build throughout 2020 and 2021, with the deteriorating socioeconomic situation resulting in further widespread civil unrest, shortages of virous essential products including Rx and OTC medications and many other structural issues that suggest a country and society on the brink of total collapse. The collapsing exchange value of the Lebanese pound has been a major source of concern.
Lebanon’s deeply rooted infrastructure issues have been further exacerbated by the ongoing economic crisis. Power cuts that were already depressingly common but mercifully temporary have now evolved into extended periods of total blackout.
Beauty and personal care is slated for a moderate performance over the forecast period, with the essential status of many key categories, population growth and incremental improvements in the financial situations of a certain proportion of consumers all expected to contribute to the positive growth. As the impact of the COVID-19 pandemic wanes, the pressure on household incomes that the pandemic created due to the interruptions that it caused to commercial activity in key sectors will inevitably recede.
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Beauty and Personal Care
This is the aggregation of baby and child-specific products, bath & shower, deodorants, hair care, colour cosmetics, men's grooming, oral hygiene, fragrances, skin care, depilatories and sun care. Black market sales and travel retail are excluded.See All of Our Definitions
This report originates from Passport, our Beauty and Personal Care research and analysis database.
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