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Premium beauty and personal care products registered healthy growth in 2019 due to consumers’ positive attitude towards spending more for quality, natural and sustainable products and premium manufacturers’ intense innovation activity across categories. The premiumisation trend was most visible in categories such as fragrances and hair care.
A 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 extremely sensitive to social media marketing.
Premium beauty and personal care’s competitive environment remained highly fragmented in 2019. In this context, three amongst the top five players were French multinationals with luxury and premium brands, namely L'Oréal, Christian Dior and Chanel.
Sales of premium beauty and personal care are expected to decline by 2% in 2020 in 2019 constant value terms in light of the impact of COVID-19. Growth in 2020 will be impacted by the closure of many stores during the lockdown, including beauty specialist retailers and as a result of many consumers relaxing their grooming regimes as they spend more time at home.
The impact of the COVID-19 pandemic will vary across the different product areas in premium beauty and personal care in 2020. Products with a non-essential positioning and those generally used in order to maintain an attractive and well-groomed appearance, including premium colour cosmetics, are expected to hardest hit by consumers spending more time at home.
Premium beauty and personal care in Belgium is set to see slight growth in constant 2019 prices over the forecast period due to the trend towards naturalness and manufacturers’ innovation.
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Discover the latest market trends and uncover sources of future market growth for the Premium Beauty and Personal Care industry in Belgium with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Premium Beauty and Personal Care industry in Belgium, our research will save you time and money while empowering you to make informed, profitable decisions.
The Premium Beauty and Personal Care in Belgium market research report includes:
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This industry report originates from Passport, our Beauty and Personal Care market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.