Premium beauty and personal care will see current value decline in response to the COVID-19 pandemic in 2020. The main reason for this is because premium fragrances, which is by far the largest product area, is expected to also see the sharpest decrease due to the pandemic.
In 2020, premium bath and shower and baby and child-specific products will continue to perform well, despite the pandemic; benefiting from a focus on hygiene in the former, and an unwillingness to compromise on quality in the latter. In fact, overall, premium bath and shower has improved thanks to consumer showering habits remaining largely unchanged during lockdown and thereafter.
Coty, Puig and LVMH Moët Hennessy Louis Vuitton will retain their podium places due to their wider stable of brands, however they will see company value sales shares losing out to the growth of Chanel in 2020. Chanel is the single leading brand thanks to its top share of the premier fragrances value sales.
Premium beauty and personal care will recover from as soon as 2021 in line with the COVID-19 pandemic coming to an end and consumers returning to their pre pandemic routines. However, ongoing financial concerns stemming from the pandemic will continue to have an impact on the product area, leading consumers to prefer mass beauty and personal care instead.
Despite a broadly positive outlook, demand for premium beauty and personal care products will remain low compared to that for mass brands over the forecast period. Demand for premium products in general will remain concentrated among a relatively small base of more affluent urban consumers, so the distribution of premium brands will continue to be largely restricted to more upmarket retailers in the Uzbekistani capital.
Fragrances will continue to dominate premium beauty and personal care over the forecast period; however, the product area will not return to pre pandemic rates immediately. Given the ongoing financial concerns and unessential disposition of premium fragrances, the recovery process will naturally be slower as consumers favour more essential products.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Uzbekistan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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This report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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