Beauty and personal care in Uzbekistan showed a mixed performance in 2018, with growth in total current value sales remaining strong while total volume sales declined sharply. The discrepancy resulted from the steep devaluation of the national currency, the som, in late 2017.
A number of factors mitigated the negative impact that high inflation and resultant price hikes had on demand for beauty and personal care products in Uzbekistan in 2018. Population growth remained strong, ensuring the continued expansion of the market’s potential consumer base.
International brands continued to account for the lion’s share of beauty and personal care current value sales in Uzbekistan in 2018. Uzbekistanis generally perceive international brands as being of superior quality to domestic products, which mainly compete on price.
New fragrance variants and products with added-value formulas were among the most visible trends in terms of innovation within beauty and personal care in Uzbekistan over 2017-2018, with international brands remaining the most active in this regard. The latter part of the review period also saw South Korean beauty and personal care products gain popularity among Uzbekistanis.
The outlook for beauty and personal care in Uzbekistan over the forecast period is broadly favourable, with steady growth in total volume and current value sales projected. The expansion of the entire market will be underpinned by economic development.
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This industry report originates from Passport, our Beauty and Personal Care market research database.