Premium fragrances registered the best value performance within premium beauty and personal care. Usually, premium beauty and personal care products are bought in duty free shops, but borders remained closed for almost the entirety of 2021.
Sales of premium skin care products, mainly dermocosmetics, registered strong growth in 2021 as consumers continued to pamper themselves at home. During the lockdown in 2020, the home became the new wellness hub for mid-income and affluent customers, and many brought typically out-of-home experiences, such as spa and salon experiences, into the home.
E-commerce has notably helped sustain retail value sales in premium beauty and personal care during the pandemic as consumers have been forced to turn online to stay safe. Although domestic restrictions were lessened in 2021 (after the country faced some of the strictest lockdown measures in the world in 2020), many consumers continued ordering premium products online as they have become accustomed to the ease and convenience the channel offers.
Premium beauty and personal care is expected to record a positive CAGR at constant 2021 prices over the forecast period. Premium bath and shower is expected to be amongst the strongest performing product categories, as consumers are increasingly demanding more from their essential products in terms of quality and functionality.
During the pandemic, many new product launches were postponed in Argentina as players did not want to waste their launches at a time when consumers had less purchasing power. In addition, foreign brands faced difficulties with imports due to border closures (in both Argentina and the country of origin), making it difficult to distribute new products.
Given the complex economic climate and the significant imports restrictions, several multinational players have departed or announced their intended departure from premium beauty and personal care in Argentina. For instance, at the end of 2020, Pierre Fabre (the second largest dermocosmetics company in Argentina) sold its factory and skin care business to the local company Sidus.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Argentina with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Premium Beauty and Personal Care industry in Argentina, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Premium Beauty and Personal Care
This is the aggregation of premium colour cosmetics, fragrances, deodorants, skin care, sun care, baby and child-specific products, bath and shower and hair care.See All of Our Definitions
This report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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