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Premium beauty and personal care maintained a third year of current value growth in 2019, and saw a much stronger increase than mass beauty and personal care. However, it should be noted that premium beauty and personal care increased from a much smaller base.
One of the factors boosting sales in the premium segment in 2019 was the expansion of beauty specialist retailers, which continued to increase its distribution value share. Despite the high costs of beauty consultants, the Colombian market is still oriented to the shopping experience, and this is the main influence in the path to purchase in the premium segment.
Due to the strength of premium fragrances within premium beauty and personal care, the leading players within premium fragrances also have leading rankings within the premium segment overall. Multinational L'Oréal PROBECOL continued to lead overall in 2019, although it saw a strong share decline due to its falling shares in the largest categories, premium fragrances and premium skin care.
Premium beauty and personal care is expected to see 3% growth in 2020 in 2019 constant value terms in light of the impact of COVID-19. This is a much better performance than mass beauty and personal care, although the premium segment remains much smaller and is expected to be affected by some of the same trends as the mass segment.
In 2020, premium beauty and personal care is expected to see many of the same effects from COVID-19 across categories as mass beauty and personal care. For instance, the higher number of people staying at home is expected to lead premium colour cosmetics and fragrances to see strong slowdowns in growth.
Premium beauty and personal care is not expected to see an impact on overall demand from COVID-19 beyond 2020. Most categories are expected to see a short-lived impact, if any, with normalisation expected from 2021.
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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 Colombia with research from Euromonitor's team of in-country analysts.
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If you're in the Premium Beauty and Personal Care industry in Colombia, our research will save you time and money while empowering you to make informed, profitable decisions.
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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.