Premium beauty and personal care was hit particularly hard by the financial and logistical impacts of COVID-19 in the previous year. In addition to price-sensitive consumers trading down to mass products, the closure of important shopping channels for premium products negatively affected retail value sales in the product area.
During the pandemic, premium acne treatments and premium anti-agers fared better than their mass counterparts. This is because such products are perceived as better quality and therefore good investments and, as such, historically, these products have witnessed higher growths and lower declines compared to mass variants.
L'Oréal Belgilux SA maintained its narrow lead in premium beauty and personal care in 2021. However, as seen in mass beauty and personal care, the category is fragmented due to the high levels of competition.
Premium beauty and personal care is expected to portray moderate growth over the forecast period (for most categories). Contrarily to the 2008 economic crisis in Belgium, where spending was mostly affected, the event of COVID-19 also limited social freedom, workplaces and entertainment venues and, as such, as the restrictions have been gradually eased in the first months of 2022, it is expected that consumers with strong enough spending power will start to reinvest in premium products.
Prior to the event of COVID-19, premium beauty and personal care relied heavily on in-store shopping experiences, as consumers were hesitant to make their premium purchases online without seeing and trying the product in real life. However, the pandemic created a shift away from the traditional retail channels towards e-commerce, with leading players taking the opportunity to step up their investments in their online platforms, thus to continue trading whilst department stores and specialist beauty retailers (their main channels) remained closed.
Natural ingredients and sustainable packaging are trends which are also evident in premium products. Consumers are increasingly seeking high quality products which are both environmentally friendly and gentle and kind to the skin, whilst still being effective.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Belgium 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 Belgium, 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 DefinitionsThis report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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