Euromonitor’s August Q3 update reveals a downgrade in beauty and personal care (BPC), but overall growth remained unchanged at a CAGR of 4%. Uncertainty around the Brexit, Emerging Markets Slowdown, Global Crisis, Eurozone Recession and US-China All-Out Trade War scenarios affected the global downgrade of BPC and slowdown of global GDP growth.
have a major impact on the performance of the BPC industry. With the Q3 update, premium BPC is expected to decline USD994 million comparatively to mass that will decline USD982 million through to 2023. The Global Crisis, US-China All-Out Trade War, Emerging Markets Slowdown, Eurozone Recession scenarios and uncertainty around Brexit
China has seen less of an impact from foreign exchange fluctuations and inflation, and GDP growth is healthy, thus it remains an attractive proposition for the industry. With estimated unmet potential of USD135 billion in retail sales of beauty and personal care, there are significant opportunities for long-term growth.
Beauty and personal care continued to grow in Poland in 2018 thanks to rising demand, fuelled by the strength of the Polish economy. With estimated unmet potential of USD2.2 billion in retail sales of beauty and personal care, there are significant opportunities for long-term growth. The financial situation for households in Poland improved significantly in the last few years of the review period.
Turkey’s economy has slowed down, impacting the beauty and personal care industry. Turkey has seen significant impact from foreign exchange fluctuations and inflation, and with unstable GDP, it remains an uncertain territory for international beauty players.
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