In 2021, mainly thanks to the continued growth in premium skin care, premium beauty and personal care overall recovered the value sales lost in 2020 due to the outbreak of COVID-19. However, two main categories, premium colour cosmetics and premium fragrances, did not.
Premium skin care and sun care recorded positive performances in 2021, having also shown resilience during the difficult 2020 in Greece. During the 2020 and 2021 lockdowns that mandated the closure of beauty specialist retailers and department stores, a significant number of consumers of these premium products turned to pharmacies (more so than to supermarkets) which remained open.
During 2021, L’Oréal Hellas SA maintained and further strengthened its leading position in premium beauty and personal care in Greece. The company is one of the few players that invested in innovation, new product launches and promotional support during the pandemic, and also benefits from its performance in the dynamic market of dermocosmetics.
The pandemic has benefited the pharmacy channel highly, not only because it remained open and freely accessible throughout (and thus acquired a clientele that is set to “stick” to the channel after the pandemic), but also because it brought forward a self-care trend and an increasing consideration for product ingredients/formulations from consumers who are increasingly becoming “safety seekers”. This will have a lasting positive impact on pharmacy sales, and categories like skin care and sun care (the latter also benefiting from the projected strong recovery of tourism and rise of consumer awareness) are set to benefit the most, displaying robust growth rates over the forecast period.
The two categories most drastically and adversely impacted by the pandemic and its repercussions, premium colour cosmetics and premium fragrances, are set to recover at a relatively slower pace, managing to reach their pre-pandemic market sizes towards the end of the forecast period. After the steep decline of 2020 and the anaemic recovery of 2021 for these categories, consumers are set to remain in a state of “vigilance” over the early stages the forecast period, during which the development of the pandemic and its effects on leisure activities, social mobility/hangouts, working, travelling will be crucial in determining how fast the recovery will take place.
Innovation with regard to product ingredients will be a major trend over the forecast period, as safety-conscious consumers, being the forerunners of this trend, are leading product innovation that will come to characterise the wider mainstream market. In skin care, “ingredient is the new hero” according to market officials, as brands are set to develop behind new product innovations.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Greece with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Premium Beauty and Personal Care industry in Greece, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
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 Definitions
This report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!