In 2021, sales of premium beauty and personal care products bounced back. While the increase in retail value sales was not enough to compensate for the fall in sales in the previous year, the category is on a growth trajectory again.
The closure of retail outlets at the start of the pandemic, and the subsequent restriction on movement and social distancing has helped accelerate underlying digitalisation trends in Bulgaria, and has had a positive effect on sales of premium beauty and personal care. The growth of e-commerce is a major factor contributing to the rapid growth of sales of premium beauty and personal care products in 2020 and 2021, as some of these products which consumers were only able to purchase when travelling abroad became increasingly available via e-commerce.
A number of categories saw a strong uptick in sales growth as a result of the pandemic. Much of this had to do with rising consumer concerns about personal hygiene and the risk of infection.
Over the forecast period, consumer demand for premium beauty and personal care products is set to further accelerate because of a variety of reasons. Firstly, sales growth in premium beauty and personal toward the end of the review period was marred by the COVID-19 pandemic, therefore sales growth in the forecast period is naturally set to be higher.
A key challenge for many premium beauty and personal care brands over the review period has been to keep well clear of the mass market and maintain differentiation. This is essential in order to support price positioning, especially because many younger consumers are becoming more sophisticated and sceptical of leading brand claims, a trend that has been driven by online beauty and personal care influencers.
The ‘green wave’ in premium beauty and personal care will deepen in the forecast period, with consumers becoming more interested in products that are aligned with natural and sustainable trends, as well as claiming benefits that go beyond beauty and focus on health and longevity. The convergence of health and beauty trends will intensify, especially in premium colour cosmetics with products focusing more on protection and skin nourishment.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Bulgaria 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.
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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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