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Markets & trends

Colour cosmetics, skincare, Japan and Southern Asia to drive global beauty sales in 2018

The global beauty and personal care market grew by 5% in value in 2017, amidst a subdued economic, political and social climate, said Euromonitor in a recent blog article. In the context of a positive business sentiment for the beauty industry, the market research agency shared its views on some key insights that could continue to drive beauty sales in 2018.

According to Euromonitor International one of the main lessons to be learned from last year’s global market evolution is the dynamism of the premium segment, which outpaced its mass counterpart and the overall industry in terms of growth for a third consecutive year. Skin care and colour cosmetics offer the most lucrative prospects within the premium space (7% and 9% growth in 2017, respectively).

China boosts premium make-up

Benefitting from further social media appeal, desire for self-expression and technologically-enabled make-over experiences, colour cosmetics outperformed all other categories globally,” said Euromonitor. Global sales of make-up products grew by 7% in 2017, the highest on record over the past decade. The trend is expected to continue, with the digital side of the business and the fast-fashion approach to innovation to become always more important for the category.

According to Euromonitor, China will be one of the most important boosts to the premium colour cosmetics market. The premium make-up segment was up by 50% in China last year, thanks especially to lipstick products. Despite its much underdeveloped per-capita spend at present, China is set to replace Japan as the second largest colour cosmetics market after the US by 2022.

Skin care regains momentum

After a few years of subdued results, 2017 saw a resurgence of skin care sales, growing by 6% in value, the highest increase since pre-recession years. The category’s expansion is fuelled by a shift towards prevention and prioritisation of healthy skin maintenance, as well as a softer pro-age and health-aligned narrative in anti-agers, which in turn doubled their premium sales growth to an impressive 10% globally. The trend is also spurring innovation around microbiome-inspired product development, clean and pure formulations, and skin protection features (eg air or digital pollution.

Japan to offset South Korea

Total beauty sales in South Korea 2017 grew by a lacklustre 0.9%i n value. By contrast, Japan benefits from a more healthy domestic consumption, the growth in Chinese tourists, following limits imposed on travel to Korea by the Chinese government, and mounting anticipation in the run up to the Olympics in 2020.

The surge in popularity for Japanese brands comes on the back of their long-standing credibility with Shiro, Decorté, Three Cosmetics, Tatcha and DHC spreading their influence beyond their home market.

India and Indonesia

With a steady pace of strong year-on-year expansion, the markets of India and Indonesia will be among the top 10 absolute growth contributors in the years to 2022,” wrote Irina Barbalova, Global Lead, Beauty and Personal Care at Euromonitor International. India is set to topple Germany, UK and France to become the fifth largest beauty market by 2022, while Indonesia will be among the top three contributors to actual revenues in skin care in the next five years, only surpassed by US and China.

The growth of local brands like Himalaya, Patanjali and Emami in India, as well as Wardah in Indonesia, will reinforce the global potential of traditional local concepts such as Ayurveda, herbal and plant-based ingredients, and halal beauty.

V.G.

© 2018 - Brazil Beauty News - www.brazilbeautynews.com

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