Evolving Habits in Global Beauty

Strategy Briefing

About This Report

Jun 2015

Diverse trends have been unfolding impacting beauty habits in the global market. Technological developments at both consumer and industry levels have had an impact on the rising demand for customisation and convenience, particularly dominant trends in skin care, hair care and colour cosmetics. Reinvention in beauty has transpired through tapping into lucrative categories, such as face masks or brow products, Asia-inspired product developments and niche brands.

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Evolving Habits in Global Beauty

Beauty industry growth sustained

Global beauty maintained growth at over 5% in 2014 despite slight deceleration in two of the largest emerging markets, China and Brazil.

Power shift to emerging markets continues despite slowdown

In the 10 years between 2009 and 2019 the ratio of emerging markets contribution shifted from 41% to exceed parity with 51%. Africa and the Middle East maintained double-digit growth in 2014 despite the political instability in the region.

Skin care and hair care largely dominate future potential

Skin care continues to be the largest revenue generator, dominating the key beauty markets, China, Indonesia and North America. Hair care remains the strongest growth contributor in Brazil and India.

The evolving trend of customisation remains key in global beauty

Although customisation is not a surprisingly new trend in global beauty, it has been fast evolving and constantly raising the bar for marketers. The most recent product customisation innovations include new product formats, textures and functions.

Asian concepts growth potential in international markets

There is a growing number of Asia-inspired products and innovation present already in international markets and this so-called “Asianification” trend is expected to grow stronger and deliver more product concepts from the region.

Tapping into a wide range of niche growth drivers

Reinvention in beauty occurs through tapping into a range of niche growth drivers, including lucrative subcategories, consumer segments or regional customisation opportunities, eg multicultural beauty or tailored hair care ranges in the Middle East to women with veiled hair.

Selling to digitally-engaged consumers

Digital strategies in beauty go way beyond online retailing and they support all aspects of operations online and in-store, from marketing to finance to innovation and distribution.

Introduction

Scope
Key findings

Global industry highlights

Beauty industry g rowth s ustained
Premium beauty gains traction in emerging markets
Power s hift to emerging m arkets c ontinues d espite s lowdown
New prospective m arkets b eyond C hina and Brazil
Top four beauty c ategories m aintain g rowth m omentum in 2014
Skin care and h air c are l argely dominate future potential
Top growth s egments b ring n ew l ucrative o pportunities

New frontiers in emerging markets

Expansion into new frontier markets remains a priority
Common growth-driving f actors in emerging m arkets
A verage daily g rooming r outine e xceeds h alf an h our
Staples in developing m arkets s et for higher a bsolute g rowth
Export of beauty routines – an opportunity
Opportunities for mass offerings dominate in emerging m arkets
Premium skin care and fragrance remain key prospects

Key industry themes

Key d rivers to define the industry in 2015 and beyond
The evolving t rend of customisation
Product customisation themes: Global versus r egional f ocus
Asian concepts expanding internationally
Further potential Asian w aves h eading to international markets
Asian trends’ niche potential in global beauty
Growing international d emand for “Brand Korea”
Asian players i ntensify competition in China
Regional players advance in global r ankings
Tapping into a wide range of niche growth drivers
Intensifying a cquisition a ctivities for niche b rands over 2014-2015
Potential future acquisition targets
D iversifying n iche retail platforms
Internet retailing s till a relatively s mall c hannel in beauty
Building blocks of digital b eauty s trategies
Selling to more informed and more e ngaged consumers

Conclusions

New growth markets for beauty: India, Saudi Arabia and Indonesia
Skin care to remain top absolute growth driver

Research Overview

Overview of survey methodology

Report Definitions

Definitions of beauty and personal care categories (1)
Definitions of beauty and personal care categories (2)