While high inflation has been encouraging trading down among some consumer segments, increasing the attractiveness of private label, for example, it has failed to put much of a dent in the ongoing dermocosmetics or clean beauty trends. Consumers continue to look for natural ingredients, with health and wellbeing concerns having been accentuated by the pandemic. However, while growth is expected in the overall Western European market in the coming years, it will generally be relatively modest.
This report comes in PPT.
Fragrances continued its strong recovery in 2022 from the pandemic-induced losses suffered in 2020. With social and work patterns returning to normal, so were occasions for wearing fragrances. On the other hand, sales in bath and shower declined again in 2022 following the major demand spike seen in 2020, when sales of products like liquid soap and hand sanitisers were booming amidst the COVID-19 hygiene concerns.
Skin care routines have been slimming down among UK consumers as they adopt a “less is more” mentality, which intensified as a result of the recent inflationary pressures, and as hybrid colour cosmetics were beginning to erode the need for multiple steps in a skin care routine.
Health and beauty specialists still account for 41% of sales in beauty and personal care, in spite of losing share during the pandemic. Although its gains have slowed since 2020, e-commerce continues to increase its sales and share. Online sales now make up more than 18% of retail value regionally and a regional high of 36% in the UK. High inflation and rising prices were helping discounters to gain share in 2022, although this still remains a relatively small channel.
Like most countries in the region, high inflation has been plaguing Spain in the post-pandemic period. This helped further boost the popularity of private label, which has an overall market share of 14% but makes up more than 30% of sales in some categories (baby products; bath and shower). While L’Oréal is ahead of retailer Mercadona in NBO company share terms, the latter’s Deliplus private label holds a greater share than any brands.
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.
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