Following a positive performance in 2017, beauty and personal care in Serbia recorded healthy current value growth during 2018. Sales grew throughout the review period, but accelerated in 2017 and in 2018, thanks to the improvement of general economic conditions.
There were several important trends that decisively shaped new product developments within beauty and personal care in 2018. One of these was the introduction and accentuation of new ingredients, such as clay, charcoal and micellar water.
The leading three manufacturers of beauty and personal care products in Serbia experienced increases in both their value sales and value shares during 2018. This was also the case for most other producers that fall into the top 10.
Several retail chains, especially the two largest players in drugstores/parapharmacies in the country – Lilly and dm – introduced almost continuous discounts for a myriad of premium products in 2018, primarily brands and sub-brands that fall into skin care. This was visible throughout the year, and had several important consequences on beauty and personal care as a whole.
Beauty and personal care in Serbia is set to continue to record a strong performance throughout the forecast period; especially in the first half. This will be fuelled by the continued improvement of disposable incomes and the overall increase in living standards amongst Serbian consumers.
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This industry report originates from Passport, our Beauty and Personal Care market research database.