Current value sales of premium beauty and personal care products are predicted to decelerate in 2023 due to the negative impact of rising prices and consumers’ declining disposable incomes. Price-sensitive consumers are expected to shift from lower-premium to mass beauty and personal care or buy fewer premium beauty and personal care products while still purchasing their desired items.
It is anticipated that players in beauty and personal care will continue to prioritise the development of premium skin care products. This is expected to result in a higher frequency of new product launches, which will in turn drive demand for premium skin care.
It is expected that unit prices for premium skin care and premium fragrances will continue to rise over the forecast period, particularly due to the use of sophisticated ingredients in these products. This price growth is likely to have a negative impact on demand for these categories, although value sales (at constant 2022 prices) will grow due to the higher prices.
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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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