Premium beauty and personal care registered a significant value sales decline in 2020 due to the pandemic, and subsequent lockdown and other restrictions. The decline was deeper than felt by the mass segment as premium products, by nature more expensive, were also impacted by economic uncertainty.
Premium fragrances was the strongest performer in the category in 2021, but it was also the most negatively impacted in 2020 and therefore had greater room for growth. Portuguese consumers were less cautious in their expenditure in 2021, and started to leave the home more frequently.
Apart from fragrances, premium adult sun care also performed well in 2021. The category registered a significant downturn in 2020 due to the pandemic, lack of travel opportunities and limited inbound tourism.
Premium beauty and personal care was severely impacted by the pandemic and is not expected to immediately recover as Portuguese consumers are likely to remain cautious in terms of expenditure heading into the forecast period in line with uncertainty regarding the local economy. High level of inflation is also expected for at least the first half of 2022, which will have a negative impact on consumers’ purchasing power.
The stronger return of inbound tourism is likely to impact the recovery of premium beauty and personal care in two ways. First of all, an important part of the Portuguese economy relies on tourism.
There is rising awareness among Portuguese consumers of the potential harmfulness of some formulations and their impact on their health or that of the environment. Therefore, premium beauty and personal care players are expected to invest in new product developments, integrating a wider range of natural ingredients, organic or vegan formulations and more sustainable packaging.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Portugal 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 Portugal, 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.
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