The December Q4 update reveals a 0.2% downgrade in beauty and personal care (BPC), with a CAGR of 2.5% predicted over 2018-2023. Uncertainty around Brexit, Emerging Markets Slow-Down, Global Crisis, Eurozone Recession and US-China All-Out Trade War has led a slowdown in global GDP growth and to the global downgrade in growth in beauty and personal care.
This report comes in PPT.
With the Q4 update, forecast growth of premium beauty and personal care is predicted to decline by USD1.2 billion over 2018-2023, while mass beauty and personal care by USD1.3billion respectively. A decline in business confidence, manufacturing and trade growth in Q4 increased the probability of the Global Downturn, Emerging Markets Slowdown and Global Crisis scenarios.
Despite a marginal downgrade with the Q4 update, skin care remains the largest growth opportunity among all product categories for the next five years. The green and clean beauty movement has been one of the major drivers in skin care, as an extension of the adoption of more health and prevention orientated lifestyles, with skin health being a key component.
Despite greater geopolitical uncertainty in Middle East, beauty and personal care experienced an upgrade in the Q4, and is expected to add USD10 million by 2023. Egypt is witnessing a stabilisation in prices and the economy. With aggressive restrictions placed on international brands, local brands have become more popular among Egyptians.
The Q4 beauty and personal care update in China, as of December 2019, suggests a decline of USD16 million. Despite the negative outlook for the Chinese economy, mass beauty and personal care has seen an upgrade of USD21 million over 2018-2023. The large consumer base for mass beauty and personal care products provides a firm platform for development in the Chinese market.
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.See All of Our Definitions
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