Beauty and Personal Care Quarterly Statement Q3 2020

September 2020

The Q3 update of 2020 reveals a general downgrade in the beauty and personal care industry, as the global economy is forecast to enter a recession. Consumers are re-evaluating their life priorities as a result of the changes brought about by the pandemic, which has affected in different ways the demand for beauty and personal products. China will continue to be a bright spot for the industry due to the country’s better response to the coronavirus pandemic.

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This report comes in PPT.

Key Findings

Premium and mass BPC witness downgrades in forecast growth

The Q3 update of August 2020 reveals a general downgrade in the beauty and personal care industry, as the global economy is forecast to enter its worst recession since the 1930s. Yet the massive changes brought about by the pandemic are also leading consumers to re-evaluate their life priorities, giving rise to new attitudes towards physical distance and health.

Skin health becomes paramount amidst pandemic anxiety

Despite the expectation of a marginal decline in sales in 2020, skin care remains the largest growth opportunity among all product categories over the next five years. The adoption of more health and prevention-orientated lifestyles, with skin health being a key component, is expected to gain further relevance as a response to COVID-19.

Further opportunities for BPC in China

The expected rebound of consumption in the Chinese economy in 2021, changes in animal testing regulation, continuing population growth and the further expansion of e-commerce provide a firm platform for the growth and development of beauty companies in the Chinese market.

E-commerce sales growing exponentially

Consumers’ pace of digital adoption and rate of digital literacy increased rapidly as countries implemented restrictions to control the spread of COVID-19. A significant proportion of converted e-shoppers is anticipated to remain in the long-term.


Euromonitor International and Coronavirus (COVID-19): forecasts and analysis
Beauty and personal care COVID-19 data and reporting timeline
Key findings
Global economy will contract sharply in 2020
In our baseline view, the pandemic slows in the second half of 2020
Three scenarios examining the impact of a more severe outbreak
Our view in short
Forecast real GDP growth in 2020 under different scenarios
BPC among the top 10 negatively impacted fmcg industries
Downgrade for the BPC industry in the latest quarter
98% of researched markets are downgraded in Q3 2020
Premium BPC will grow at a faster rate than mass in all pessimistic scenarios
Asia Pacific a lifeline for premium beauty and personal care
Mass BPC remains the largest segment in terms of value sales
The industry recovers in 2021 under C19 pessimistic 1 scenario
Routes to disruption in beauty and personal care
Soft drivers and the Industry Forecast Model (IFM)
S oft drivers: how we quantify these COVID-19 specific effects in the IFM
Home seclusion has a more short-term effect than preventative health
Channel shift to e-commerce is set to persist beyond 2020
Further investment in digital
Health and self-care care will support growth of skin care
‘Natural’ innovative propositions in skin care
China continues to see rapid growth in beauty and personal care
Chinese market is core to recovery
New attitudes towards physical distance and health will stay
About Euromonitor International’s Industry Forecast Model
Soft drivers and the Industry Forecast Model
Growth decomposition explained
Significance and applications for growth decomposition
Key applications for Industry Forecast Models

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.

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