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Premium beauty and personal care expanded its share during 2019, boosted by the economic stabilisation in the country. With higher levels of consumer confidence, Ukrainians were more willing to try out quality products and premium goods, resulting in healthy growth for the industry.
Despite healthy growth, premium beauty and personal care did not reach its full potential in 2019. Although many experienced rising incomes, some Ukrainian consumers continued to look to economise, particularly when it came to hygiene products.
Premium beauty and personal care is largely unexplored by domestic companies in Ukraine, with multinationals being its primary contributors. L'Oréal Ukraine TOV retained the top position in premium beauty and personal care in 2019, the indisputable leader in beauty and personal care overall.
Sales of premium beauty and personal care are expected to decline by 14% in 2020 in 2019 constant value terms, in light of the impact of COVID-19. The outbreak of COVID-19 in Ukraine will have a more significant impact on growth for premium products compared to mass products in 2020.
The majority of areas in premium beauty and personal care products are expected to record a decline in 2020, as social distancing, home working and travel restrictions lead to consumers spending more time at home and less time socialising. Furthermore, growing economic concerns impacted consumers shopping habits, with many adapting their existing skin, hair and beauty routines to save costs – either by trading down or reducing the number of products used.
Due to the impact of COVID-19, premium beauty and personal care is predicted to record a significant decline in 2020, with consumers trading down to mass products, or reducing their grooming routines, impacting sales. However, as consumers revert back to their normal routine during the second half of 2020, growth will recover in 2021, recording a positive result as consumers invest in premium items once more.
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Discover the latest market trends and uncover sources of future market growth for the Premium Beauty and Personal Care industry in Ukraine with research from Euromonitor's team of in-country analysts.
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If you're in the Premium Beauty and Personal Care industry in Ukraine, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Beauty and Personal Care market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.