Most areas of skin care witnessed a return to growth in current value terms in 2018, with consumer confidence rising off the back of Finland’s recovering economy. Premium skin care witnessed stronger growth than mass skin care, albeit from a lower base, with consumers willing to invest in products that can produce visible results.
The K-Beauty trend, which includes popular South Korean skin care products that focus on health and hydration, amongst other things, is still only emerging in Finland, but the variety of products available through online stores such as nobe continued to grow at the end of the review period. Facial masks was one of the best-selling areas of K-Beauty in 2018, with there being plenty of affordable single-use masks available.
Consumers in Finland are paying growing attention to the ingredients they introduce to their skin and the impact these products have on the environment around them. This has given rise to all-natural skin care, as well as products which are eco-friendly and vegan.
Local brand Lumene retained the lead in skin care in 2018 with it having built up a strong and loyal base of consumers who trust the efficacy of its products. Lumene renewed its range over 2016/2017 to provide a higher-end collection of mass skin care, including new packaging and new lines.
There was a growing trend towards K-Beauty in Finland at the end of the review period, as part of a larger global trend, with this encouraging the use of a wider range of skin care as well as Korean brands. As a result, new Korean brands became available in 2017/2018, with some of these proving very successful.
L'Oréal Finland Oy retained the lead in skin care in 2018 by virtue of its large portfolio of mass and premium products. Nevertheless, the company saw a drop in its value share as the competition increased in an already fragmented landscape, with new players entering with products that buy into current trends such as for natural ingredients.
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This industry report originates from Passport, our Beauty and Personal Care market research database.