Premium Beauty and Personal Care in France

PRE-COVID-19 PERFORMANCE

Natural and organic products and conscious choices help to maintain sales

As in 2018, in 2019 premium beauty and personal care remained fairly stable in current value terms, outpacing its mass counterpart. Like in the mass segment, the categories considered less essential in a depressive context were the ones most impacted by deconsumption, such as colour cosmetics and fragrances.

Customisation and personalisation maintain sales

Brands need to keep abreast of trends and consumer demands in order to capitalise on the growth of high-end beauty and personal care. The premium brands which are successful in understanding consumers’ needs are the ones willing to become personal with them.

Leading multinationals lose share to small organic and natural players

Laboratoires Pierre Fabre continued to lead premium beauty and personal care in value terms in 2019, with many other large multinationals amongst the top 10 players. However, the leading players all saw static or declining value shares in 2019, due to the development of small organic and natural brands, which are threatening the traditional luxury brands from large international groups.

2020 AND BEYOND

COVID-19 impact

Premium beauty and personal care is expected to see a 4% decline in 2020 in 2019 constant value terms in light of the impact of COVID-19. Sales have been directly negatively impacted by the lockdown from March, with many people relaxing their grooming regimes as they are spending more time at home.

Affected products within premium beauty and personal care

As in mass beauty and personal care, within premium beauty and personal care the performances are expected to differ between categories in 2020. COVID-19 is expected to have a particularly negative impact on categories which are considered less essential, such as colour cosmetics and fragrances.

Recovery and opportunities

Although premium beauty and personal care is expected to see a fall in demand due to COVID-19, the impact is expected to be limited to 2020, with a return to overall current value growth from 2021. However, due to the strong decline and only slow recovery, the pre-COVID-19 level of sales is only expected to be reached in 2023, and premium beauty and personal care is expected to see marginally slower growth than mass beauty and personal care in the forecast period, which is the opposite trend to that seen in the review period.

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