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Premium beauty and personal care gained share within overall beauty and personal care in 2019 in current value terms. Premium skin care, sun care and hair care in the form of medicated shampoos and hair loss treatments saw a strong performance driven by increasing consumer interest in premium dermocosmetics brands.
In addition to the boost provided by drugstores/parapharmacies, premium beauty and personal care continued to benefit from the emergence of e-commerce in 2019. Consumers increasingly enjoy shopping for premium products online, particularly when buying premium colour cosmetics and fragrances.
Premium beauty and personal care is led by two strong global multinationals, with L'Oréal and Estée Lauder benefiting from their host of well-established brands. Both players gained share in 2019, with Estée Lauder seeing good share gains for its eponymous brand and for colour cosmetics brand Mac.
Sales of premium beauty and personal care are expected to decline by 14% in 2020 in 2019 constant value terms in light of the impact of COVID-19. In the first half of 2020, the COVID-19 pandemic has put an abrupt halt to the strong sales growth seen for these products during the review period, and has triggered widespread economic uncertainty, encouraging mid- and high-income consumers alike to cut back on spending.
With most workplaces closed and socialising in person coming to a halt during the COVID-19 lockdown, the usage of many products in premium beauty and personal care is in decline in 2020, with many product areas set to see value at constant 2019 prices fall. Premium colour cosmetics, fragrances, hair care and adult sun care are expected to be hit hardest as consumers spend more time at home.
The sharp value decline at constant 2019 prices expected in 2020 as a result of the COVID-19 lockdown and economic uncertainty will result in premium beauty and personal care seeing slight sales decline for the forecast period as a whole, despite sales recovery being seen from 2021 onwards. Many consumers will remain highly price-sensitive and continue to prioritise essential purchases, while seeking the lowest available prices.
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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 Bulgaria 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 Bulgaria, our research will save you time and money while empowering you to make informed, profitable decisions.
The Premium Beauty and Personal Care in Bulgaria 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.