Due to the outbreak of COVID-19 in 2020, super-premium beauty and personal care is expected to record a value decline of 8%, compared to growth of 2% in 2019. A decline is expected to be seen in all areas, with super-premium fragrances recording the most significant, double-digit decline.
The government installed a lockdown in the country from March 2020 to respond to the outbreak and spread of COVID-19. During this time, all non-essential retailers were required to close, as well as entertainment venues and leisure facilities, including spas.
Due to the outbreak of COVID-19, the government installed strict travel regulations to Italy, with those from various countries having to be tested on entry. In addition, due to the high number of cases in Italy, many international travellers were too cautious to enter the country, wary of catching the virus, while others had to align to their own country’s specific travel guidelines.
Aligning to when consumers feeling confident to shop once more in public, super premium beauty and personal care is set to record steady growth across the forecast period, with a predicted CAGR of 4%. Having recorded the deepest decline in 2020, super premium fragrances is expected to see the strongest recovery, as consumers socialise once more, attending events and occasions across the forecast period.
Over the forecast period, e-commerce sales of luxury beauty and personal care are expected to continue to grow, having seen a significant boost during 2020, which began during the lockdown period. This means that new consumers have migrated to the online platform, and this is set to continue benefiting growth for e-commerce over the coming years.
Super premium skincare will record solid value sales across the forecast period, led by super premium brands such as Helena Rubinstein, Christian Dior, Yves Saint Laurent, Sisley and Guerlain. Anti-ageing is expected to be the most important segment within skincare, as consumers are keen to have a youthful look and are willing to invest in the latest innovations and products.
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Understand the latest market trends and future growth opportunities for the Super Premium Beauty and Personal Care industry in Italy with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Super Premium Beauty and Personal Care research and analysis database.
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