Premium Beauty and Personal Care in Serbia

PROSPECTS

Faster economic growth boosts premium beauty and personal care in 2017

The Serbian economy somewhat improved in 2017 as real GDP growth continued and disposable income levels increased. Also, in the second part of 2017, the Serbian government announced that the austerity measures it had introduced several years ago would end in 2018, and this further encouraged some consumers to spend more on products that are considered unnecessary and premium.

Premium bath and shower, premium deodorants and premium hair care experience strong growth

During 2017, premium bath and shower was among the best-performing categories within premium beauty and personal care in the country. Apart from the positive impact of general economic improvement, the category was boosted by the notably improved product offering, especially in premium intimate washes and premium talcum powder.

Premium adult sun care continues to decline in 2017

Premium adult sun care was significantly hampered over the review period by the economic downturn. This was the case as adult sun care products are generally expensive in Serbia for many consumers and premium variants of them were off limits for most shoppers.

COMPETITIVE LANDSCAPE

L'Oréal Balkan comfortably leads premium beauty and personal care

L'Oréal Balkan had a considerable lead over second-ranked Puig SL and third-ranked Coty Inc in 2017 within Serbian premium beauty and personal care. L'Oréal markets many premium beauty and personal care brands in the country, but by far the most popular one in 2017 was Vichy, with La Roche-Posay, Lancôme and the others remaining far behind.

Premium beauty and personal care is highly fragmented

Serbian premium beauty and personal care was highly fragmented throughout the review period and the trend continued in 2017, despite the somewhat higher value share of the category leader. For instance, the sum of the leading 10 producers’ value shares was more than three times higher than the collective share of manufacturers ranked third to 10th.

No private label lines in premium beauty and personal care as of 2017

Most private label lines in the Serbian fmcg market in general remain limited to the economy segment, with only a handful of premium private label products being available. There were no private label lines in premium beauty and personal care as of 2017 though.

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