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Current value sales growth of premium beauty and personal care has seesawed in recent years. Regardless, growth in 2019, while slightly more moderate than that recorded in 2018—2019 was characterised by frequent discounting of premium products—was still relatively robust.
Rising disposable incomes of working women in Kazakhstan, a growing number of whom are financially independent, drove increased demand for premium beauty and personal care products in 2019, particularly premium colour cosmetics and premium fragrances. Indeed, the number of women employed in Kazakhstan has increased over the past several years and many of these women earned more than ever in 2019.
Although the company lost value share in 2019—mirroring a trend seen throughout the review period—L'Oréal Kazakhstan maintained its leadership position in beauty and personal care in 2019. The company continued to benefit from its raft of well-known and trusted brands, including Lancôme, Vichy and Yves Saint Laurent.
Sales of premium beauty and personal care are now expected to decline by 15% in 2020 in 2019 constant value terms in light of the impact of COVID-19. The reasons behind that decline are diverse, but they all eventually come back to the pandemic.
For the most part, consumers are spending more time at home in 2020 and, in turn, not feeling the need to use premium beauty and personal care products as regularly as they did in pre-COVID-19 days when they spent considerable amounts of time outside of their homes working, socialising or participating in other out-of-home activities. As a result, it is likely that there will continue to be significant retail volume and value sales declines in nearly all product areas throughout 2020.
As a result of the COVID-19 pandemic, premium beauty and personal care products are expected to see marked declines in value at constant 2019 prices in 2020. But once they have endured those declines, premium products’ value sales are projected to quickly rebound in 2021 before seeing growth moderate over the remainder of the forecast period, although growth rates are likely to vary depending on the product area.
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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 Kazakhstan with research from Euromonitor's team of in-country analysts.
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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.