In spite of the presence of the COVID-19 virus, super premium beauty and personal care will continue to perform well in 2021, only seeing a very slight drag on its growth in this year. With the Taiwanese government implementing a national lockdown in mid-2021, socialising in Taiwan was drastically reduced as consumers were spending more time at home to prevent possible contagion with the virus.
Super premium skin care is expected to continue to see the strongest growth in super premium beauty and personal care in 2021, and is the only one of the main product areas that has been recording higher growth rates in 2020 and 2021 than it did prior to the pandemic in 2019. As consumers have been spending more time not only at home but also working from home during the pandemic to reduce the risk of contracting the virus, many have taken this as an opportunity to focus on their overall health.
Christian Dior continues to be the leading brand within super premium beauty and personal care in Taiwan, benefiting in particular from rising demand for super premium skin care among female consumers. Growth is also being supported by a strong luxury brand image and wide product portfolio, including within the fragrances and colour cosmetics categories.
Super premium beauty and personal care has been performing relatively well throughout the pandemic, with only a slight slowdown in its 2020 and 2021 current value growth rates, compared to 2019, before the pandemic arrived. In addition, it will show consistent growth over the course of the forecast period, helping it to post a current value CAGR in 2021-2026 that will be very much in line with the review period CAGR.
E-commerce is expected to continue gathering pace over the forecast period as consumers discover how convenient and easy it is to shop via this channel. Nevertheless, it will remain a small distribution channel, with store-based retailing continuing to dominate sales.
Over the forecast period, the competitive landscape is set to intensify as players from other product areas within luxury goods focus on broadening their portfolios to include super premium beauty and personal care. Recent examples of this include Hermès entering luxury colour cosmetics and Coach expanding its portfolio into super premium beauty and personal care with the Coach x Sephora collection.
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Understand the latest market trends and future growth opportunities for the Super Premium Beauty and Personal Care industry in Taiwan 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 is an aggregation of super premium colour cosmetics, super premium fragrances, super premium skin care and other super premium beauty and personal care.See All of Our Definitions
This report originates from Passport, our Super Premium Beauty and Personal Care research and analysis database.
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