The fluctuation in foreign exchange had already caused a shift from premium to mass products in Turkey and the COVID-19 pandemic resulted in lower purchasing power and increased consumer spending caution. In order to appeal to value-conscious customers, premium brands introduced mini versions of their products such as Mac Mini lipstick.
Towards the end of the review period, beauty specialist retailer Sephora introduced a Good For line at its stores, featuring products with different types of green labels. Good For You labelled beauty and personal care products are products with at least 90% naturally sourced ingredients; Good For A Better Planet products are products that are packaged in sustainable packaging; the Good For Vegan line consists of beauty and personal care products that do not contain animal-derived ingredients, while products labelled as Good For Recycling are products that are stored in glass or plastic packaging that Sephora will recycle and reuse after initial use.
L’Oréal and Estée Lauder held the leading value shares in premium beauty and personal care in 2021, primarily on the strength of their leadership in premium colour cosmetics and premium skin care. Both companies held strong positions in premium fragrances, where Puig remained the leading player in 2021, and were among the top players in premium adult sun care, where Laboratoire Bioderma held the highest value share by far.
The switch from super premium/premium products is expected to continue over the forecast period as, due to the COVID-19 pandemic, Turkish consumers are reluctant to buy luxury items as they are uncertain about their future. An increasing number of manufacturers and retailers are expected to add affordable luxury brands to their portfolios, which will be more accessible to consumers, especially during the recovery stage after the pandemic.
Sales to tourists, especially those from Iran and other Middle Eastern countries, account for a significant proportion of premium beauty and personal care sales. The resumption of tourism will increase the prospects of many premium categories over the forecast period, as will the ongoing development and promotion of niche fragrances and dermocosmetic brands with natural positioning offering benefits that justify paying higher prices.
Opportunities exist in meeting the needs of female baby boomers. Women aged 40+ want to see more beauty products targeting perimenopausal and menopausal consumers and therefore more beauty brands focusing on the needs of menopausal women, such as Vichy Neovadiol Magistral Elixir and Lierac Arkéskin+, could appear on the market over the forecast period.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Turkey 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 DefinitionsThis report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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