The premium beauty and personal care segment saw sales return to positive growth in 2021, albeit at a slower rate than that seen by mass beauty and personal care products. Demand for premium products was partly dampened by COVID-19 restrictions and vaccination certification requirements, given the location of key store-based retailers for premium products in shopping centres.
E-commerce saw continued strong growth in 2021 following the channel’s spectacular expansion in the early stages of the COVID-19 crisis in 2020. The dynamic performance of e-commerce led to a significant expansion in the availability of premium beauty and personal care brands to consumers.
Coty Inc continued to lead premium beauty and personal care in 2021, thanks to the strong presence of its well-known fragrances brands, including Hugo Boss, Calvin Klein, Gucci, Davidoff and Lacoste. However, during the year, the company saw the continuation of a trend of share decline that persisted throughout the review period.
As quality of life improves, consumer interest in premium beauty and personal care products is set to grow. Consumers are expected to have access to a wider range of premium beauty and personal care brands and products through both leading store-based beauty specialist retailers and, importantly, e-commerce.
As in mass adult sun care, premium adult sun care is set to exhibit strong growth over the forecast period. This performance will primarily be due to the significant decline registered as a result of COVID-19 travel restrictions, which led to shorter holiday seasons and numerous travel and movement restrictions that ultimately decimated consumer demand for all sun care products, including premium adult sun care.
The leading players in premium beauty and personal care over the forecast period will continue to be large multinationals. Domestic companies and brands have so far failed to gain a significant presence in the premium segment in North Macedonia, with domestic companies serving as importers for multinational global brand owners.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in North Macedonia 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 Definitions
This report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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