Premium Beauty and Personal Care in the Philippines

PROSPECTS

Strong economy enabling consumers to trade up

Premium beauty and personal care recorded double-digit growth in current value terms in 2018, continuing the strong performance seen throughout the review period. The Philippines is one of Asia’s fastest growing economies and this saw disposable income shoot up during the review period while unemployment and poverty levels have fallen.

Filipinos willing to invest in healthy and younger looking skin

Premium skin care remained an integral part of premium beauty and personal care with it being an area in which consumers are more willing to invest in order to achieve the best results. Products such as anti-agers and face masks provide added-value claims with the ability to retain young and healthy looking skin being important to women in the Philippines.

Children and babies receive the premium treatment

Fertility has been dropping in the Philippines, but it was still 2.9 births per female in 2018, which is above the regional average.

COMPETITIVE LANDSCAPE

Strong portfolio helps Estée Lauder to increase lead

Estée Lauder remained the leading player in premium beauty and personal care in 2018, with the company seeing a further increase in its value share. The company’s position can be attributed to a presence in several categories, but particularly premium colour cosmetics and skin care.

Professional hair care products proving popular

L’Oréal saw strong growth in 2018 with it benefiting in particular from the growing popularity of its premium hair care. The company offers three brands in premium hair care: L’Oréal Professional, Kérastase and Matrix.

Competition increasing as market shows strong potential

Aside from a small handful of players at the top, premium beauty and personal care remains highly fragmented with a large number of global, regional and local players being present. As the economy continues to grow it is likely that more players will invest in the market, with it already being seen to have strong potential.

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