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Premium beauty and personal care has historically been characterised by premium hair care and fragrances brands, which traditionally drove category sales. However, in 2019 growing discretionary spending among Indians also fuelled smaller but high potential categories such as skin care and colour cosmetics – especially premium moisturisers, premium anti-agers, premium eye and facial make-up.
In this category part of the pleasure in buying premium products is the sensory experience of touching, feeling and trying them on and the luxury atmosphere afforded by high-end beauty specialist retailers. However, e-commerce fuelled growth of premium beauty and personal care in 2019 with small pack sizes helping in trial generation.
L’Oréal India retained the category lead in premium beauty and personal care in 2019 thanks to its strong portfolio of brands including L’Oréal Professional, Vichy and Kiehl’s. In 2019, the company launched an interactive advertising campaign for its new hair colour from L’Oréal Professional – Parisian Cool.
Premium beauty and personal care is expected to grow by 6% in 2020 in value sales at constant 2019 prices in light of the impact of COVID-19, resulting in a significant slowdown, especially during the first half of the year. Economic shockwaves created considerable uncertainty among consumers who drastically reduced their spending during lockdown, with this trend seen across all socioeconomic groups.
One of the worst affected categories of the COVID-19 pandemic in 2020 is likely to be premium fragrances, especially premium men’s fragrances as consumers will have few occasions to wear these products. Such products also carry high unit prices, with consumers in most socioeconomic groups reducing their spending on non-essential premium or luxury items.
The suppression of normal habits during the lockdown, especially during the early phases, is likely to lead to pent up demand to shop. However, the COVID-19 pandemic, lockdown and subsequent economic uncertainty will result in a slowdown in premium beauty and personal care for the forecast period as a whole.
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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 India 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 India, 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.