How Mass & Premium Beauty Are Growing
The premium beauty sector will contribute an
additional $20 billion in revenue to the industry
by 2021, according to Irina Barbalova, global lead,
beauty and personal care, Euromonitor International
( www.euromonitor.com). In a presentation delivered
during the 2017 in-cosmetics Global in London, she
added that the global spend on premium beauty and
personal care will grow 19% between 2016 and 2021
(faster than the rise of spend on luxury and health
and wellness), totaling $127 billion. About 54% of this
growth will come from the U.S. and Chinese markets.
Other highlights included:
• Mass color cosmetics posted a CAGR of 6.5% last
year, but the premium category generated a CAGR of 8.6%, Euromonitor noted.
• Premium skin care grew by 5.2% last year, compared to 4.6% for mass.
• Premium hair care grew by 5.3% last year, compared to 3.5% for mass.
KanS grew by 18.3% in 2016,
placing it among one of the fastest-growing premium beauty brands,
according to Euromonitor data.
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The fastest-growing premium beauty
brands, according to Euromonitor are:
• Smashbox ( 19.9%)
• Bulldog ( 19.2%)
• KanS ( 18.3%)
Euromonitor outlined regional growth
• Latin America: 9.2%
• Africa and the Middle East: 8.7%
• Eastern Europe: 6.8%
• Asia Pacific: 5.2%
• Oceania: 4.6%
• North America (excluding Mexico): 4%
• Western Europe: 1.8%
Notable high-growth countries included:
• Egypt: 16.6%
• Bangladesh: 13.3%
• Indonesia: 10.6% n