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Premium beauty and personal care remains a small segment of the overall market in Georgia, catering to more affluent consumers, who usually reside in urban areas of the country. While current value sales continued to record healthy growth in 2019, price fluctuations relating to ongoing local currency devaluation resulted in some categories performing more strongly than others, leading to value share gain for premium products overall including men’s toiletries, colour cosmetics, bath and shower and adult sun care.
The most impressive volume growth rates were recorded by sets/kits with premium skin care sets/kits, and premium fragrances sets/kits outperforming the mass segments. Many local consumers not only view these products as an expensive gift for a loved one, but also as a way to save on costs as the overall price of the fragrances or skin care products included in the sets tend to offer greater value for money compared to purchasing them separately; they therefore, also offer greater affordability to mid-income consumers who would like to trade up or purchase as a one-off indulgence for themselves.
Puig Rus strengthened its leadership of premium beauty and personal care in 2019, after gaining this position from LVMH Moët Hennessy Louis Vuitton the previous year. L'Oréal Groupe and The Procter & Gamble Co followed the leaders and were the only other players to hold double-digit value share in 2019.
Value sales of premium beauty and personal care are expected to decline by 10% in 2020 at constant 2019 prices in light of the impact of COVID-19.
With the exception of premium skin care sets/kits, which is set to record positive but low volume growth in 2020, most areas of premium beauty and personal care are predicted to record strong declines in demand in response to COVID-19.
Value growth at constant 2019 prices is expected to return to normalisation from 2021, as lockdown measures ease and affluent consumers resume their working and socialising routines as they venture outside of the home environment.
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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 Georgia 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 Georgia, 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.