In 2021, premium beauty and personal care saw a return to positive current value growth. However, this was largely due to inflation.
In 2021, premium beauty and personal care also benefited from the opening of retail channels. In fact, consumers who previously purchased premium beauty and personal care products when travelling abroad, now purchased such products in the country.
Puig Rus strengthened its leadership of premium beauty and personal care in 2021, after gaining this position from LVMH Moët Hennessy Louis Vuitton in 2018. L'Oréal Groupe and The Procter & Gamble Co followed the leaders, and the top four players were the only players to hold double-digit value share in 2021.
Following the strong recovery in 2021, premium beauty and personal care is set to see a normalisation in current value growth from 2022, maintaining a slightly slower but still strong rate of growth throughout the forecast period. As affluent consumers resume their working and socialising routines as they venture outside of the home environment, this will provide more usage occasions for premium beauty and personal care products.
E-commerce is expected to continue growing in terms of a distribution channel for premium beauty and personal care. Indeed, the lockdown has encouraged consumers to become more e-commerce friendly and has raised awareness about the competitive prices that can be found online.
With the predicted return of economic stability as the threat of the pandemic has waned, premium beauty and personal care is expected to exhibit faster growth in the second half of the forecast period. Mass beauty and personal care is predicted to lose value share to premium products over the course of the forecast period as consumers’ disposable incomes rise again.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Georgia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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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 DefinitionsThis report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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