Premium Beauty and Personal Care in Belgium

PROSPECTS

Premium beauty and personal care registers healthy growth

With the exception of a few product categories, premium beauty and personal care products registered healthy growth in 2018. This was mainly due to consumers’ increased annual disposable income and their positive attitude towards spending more for quality, natural and sustainable products; on the other hand, premium manufacturers’ intense innovation activity across categories also helped boost demand.

Millennials have fragile loyalty towards premium brands

Another factor that influences demand for premium beauty and personal care products is the volatile loyalty of young consumers, mainly the millennials. This consumer base is growing numerically, and its spending power is increasing; moreover, it is a group that is highly sensitive to social media marketing.

Naturalness and “less is more” will play a key role in premium beauty and personal care

Belgian consumers are increasingly attentive to the effects that their complex beauty routines have on their skin. Demand is, in this context, intertwined with demand for more natural products and with the “less is more“ trend, and both trends are likely to result in consumers consuming fewer products but of better quality.

COMPETITIVE LANDSCAPE

Multinational prestige players lead the category

Premium beauty and personal care’s competitive environment is highly fragmented. In this context, three amongst the top five players in 2018 were French multinationals with luxury and premium brands, namely L'Oréal, Christian Dior and Chanel.

Premium pharma brands outperform competitors

Due to growing concerns about the composition of skin care products, Belgian consumers increasingly turned towards the dermocosmetics brands sold in chemists/pharmacies. In 2018, as well as in 2017, consumers proved to place more trust in these products because of the official “medical guarantees” associated with them.

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