According to Euromonitor International, the world beauty and personal care market size will grow to USD547 billion in 2027. Asia Pacific is the key driver of this growth, accounting for 67% of the growth value. With the region being seen as the future strategic focus, global beauty companies are investing in the following three areas in Asia Pacific: premiumisation of brand portfolio, solid R&D foundation in Asia, and virtual and interactive shopping experience.
Direct selling continues to be the most relevant channel in Latin America. But since 2020, direct selling has flatlined and faces several challenges. Euromonitor takes a closer look at how direct selling in Latin America changed after the COVID-19 pandemic and what to expect in 2023 and beyond.
As the most influential global event dedicated to all facets of the beauty industry, Cosmoprof Worldwide Bologna has been a landmark event for more than 50 years.
In-cosmetics Global is where personal care creators come together to connect, collaborate, and network.
High commodity prices and supply chain disruptions are to continue to set the global economy on a course of slower growth and high inflation in 2023. Euromonitor International takes a closer look at a category that is often used to test the resilience of colour cosmetics during periods of downturn - lipstick.
Hair care was one of the weaker performing beauty and personal care categories throughout the COVID-19 pandemic. Lockdown restrictions throughout 2020-2021 altered consumer habits with fewer social occasions leading to reduced usage of styling agents and shampoo.
With inflationary pressures top of mind for consumers heading into the holiday season, promotional campaigns are critical for companies, but aggressive discounting can cut into already thinning margins as well as dilute brand image. With Euromonitor International’s e-commerce tracking tool, Via, online data for stock keeping units (SKUs) can easily be analysed to identify trends in the market and provide key recommendations.
The health and beauty industry is fast-moving and highly saturated. Understanding changing consumer opinions and the behavioural indicators behind global trends is integral to securing the success of any company or brand within the space. The insights gathered by Euromonitor International's Voice of the Consumer: Beauty Survey 2022 give a comprehensive view of how consumer preference has changed, based on different variables.
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