Strategy Briefing

Competing with Giants: The Rise of Local Competition

44 pages, Jul 2018

US$1,325

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About This Report

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Regional and local brands increasingly fuel global beauty industry growth. The top 10 emerging markets in terms of absolute value growth are projected to contribute 57% of the global absolute market gains through to 2022. Local brands in each of these markets are consistently among the top growth drivers. Their bearing on future growth should not be dismissed. Such brands are stiffening competition, making it harder for global rivals to gain strong growth platforms in opportunity zones.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

Local/regional brands fuel global industry growth

In the complex global competitive landscape amongst the fastest growing brands dynamically expanding local labels are becoming more prominent. Fuelled by their domestic markets they are rising in the global rankings.

Asia Pacific accelerates local brands most

Japanese brands have reigned in Asia Pacific, but over the forecast period it is expected that South Korean players will expand into the wider region, the challenge from Chinese brands rising significantly.

Staple categories rife with local competition

A growing number of local brands are rapidly gaining market share at the expense of international labels, with categories becoming increasingly fragmented. The penetration of local players in discretionary beauty categories is on the rise.

Benefit from authenticity and accessibility

Native brands are at an advantage to incorporate local heritage with authenticity,credibility and at price points reaching a larger consumer base than global brands.

Local brands compete on international stage

The rise of local competition in attractive opportunity zones is a significant challenge for multinationals, but additional problems arise as dynamically growing labels are expanding into new territories on the back of their home found success.

Korean beauty brands to reboot growth in China

In 2017 the 6-month diplomatic feud between China and South Korea took a toll on sales of beauty companies, and operating profits also suffered, highlighting the need to reduce such strong reliance on just one export market.

Japanese brands accelerate growth in international markets

The key factor behind J-Beauty’s growth acceleration in international markets is its successful differentiation strategies from the recent wave of Korean products.Japanese beauty is more focused on rituals, fewer steps with simple but powerful ingredients.

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Introduction

Scope

Key findings

The Rising Challenge of Local Competition

Regional and local brands fuel global industry growth

Competition from local players more significant in mass beauty

Increasing proportion of new growth generated by local/regional brands

Notable diversity in penetration of international vs local brands by region

Asia Pacific, beauty’s future growth engine, accelerates local brands most

Latin America’s prospects increasingly attract internationals attention

International brands face new competitors in Middle East and Africa

Winning Strategies in Home Markets

Local players’ triple-pronged strategies in domestic markets

Staple categories rife with local competition

Local brands benefit from authenticity and accessibility

Pechoin becomes number one skin care brand in China

Young Chinese consumers turn to TCM-inspired products

L’Oréal raises the bar on research and technology in China

Growing awareness of Ayurvedic tradition drives local brands in India

Patanjali focuses to cater for the masses

An explosion of local labels in emerging deodorants category

Unilever shifts strategy to ‘imitated’ local competition in India

Halal credentials also demonstrated better by local players

Fragrance players at an advantage to capitalize on local strength

Advantages of local brands enabling growth beyond their home market

Contending on the International Stage

Multi-pronged international expansion strategies

Dabur India captures Middle East and Africa with halal certified beauty

Halal concepts in Western markets aided by ethical and health credentials

Korean beauty’s international appeal but need to reboot growth in China

Korean brands’ increasing necessity to increase global footprint

AmorePacific’s steady global expansion

International brands tapping into consumers’ interest in Korean beauty

Global beauty players add Korean brands to their stables via acquisitions

Japanese brands accelerate growth in international markets

China remains main battle ground for expanding international brands

Regional players acquire global scale brands: Natura&Co - The Body Shop

Natura remains deeply rooted in Brazil fuelling international expansion

Prospects

Finding opportunities in turbulence

Unpredictability of emerging markets

The metamorphosis of retail

Accelerating shifts of consumer needs

Why buy this report?

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Megatrends

Strategy Briefing

Competing with Giants: The Rise of Local Competition

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Local/regional brands fuel global industry growth

Asia Pacific accelerates local brands most

Staple categories rife with local competition

Benefit from authenticity and accessibility

Local brands compete on international stage

Korean beauty brands to reboot growth in China

Japanese brands accelerate growth in international markets

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

The Rising Challenge of Local Competition

Regional and local brands fuel global industry growth

Competition from local players more significant in mass beauty

Increasing proportion of new growth generated by local/regional brands

Notable diversity in penetration of international vs local brands by region

Asia Pacific, beauty’s future growth engine, accelerates local brands most

Latin America’s prospects increasingly attract internationals attention

International brands face new competitors in Middle East and Africa

Winning Strategies in Home Markets

Local players’ triple-pronged strategies in domestic markets

Staple categories rife with local competition

Local brands benefit from authenticity and accessibility

Pechoin becomes number one skin care brand in China

Young Chinese consumers turn to TCM-inspired products

L’Oréal raises the bar on research and technology in China

Growing awareness of Ayurvedic tradition drives local brands in India

Patanjali focuses to cater for the masses

An explosion of local labels in emerging deodorants category

Unilever shifts strategy to ‘imitated’ local competition in India

Halal credentials also demonstrated better by local players

Fragrance players at an advantage to capitalize on local strength

Advantages of local brands enabling growth beyond their home market

Contending on the International Stage

Multi-pronged international expansion strategies

Dabur India captures Middle East and Africa with halal certified beauty

Halal concepts in Western markets aided by ethical and health credentials

Korean beauty’s international appeal but need to reboot growth in China

Korean brands’ increasing necessity to increase global footprint

AmorePacific’s steady global expansion

International brands tapping into consumers’ interest in Korean beauty

Global beauty players add Korean brands to their stables via acquisitions

Japanese brands accelerate growth in international markets

China remains main battle ground for expanding international brands

Regional players acquire global scale brands: Natura&Co - The Body Shop

Natura remains deeply rooted in Brazil fuelling international expansion

Prospects

Finding opportunities in turbulence

Unpredictability of emerging markets

The metamorphosis of retail

Accelerating shifts of consumer needs

Why buy this report?

Want to find out more about this report?

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