Beauty Market and Consumer of 2020

Hair and skincare products must be adjusted if brands want to capitalise on growth opportunities coming on stream.

June 2015

Different beauty cultures to become more influential as new countries dominate rankings.

New consumers to remake the beauty market in their own image and likeness.

Beauty basket to contain a different and much wider product range than today's.

Market value and geographical distribution. The beauty market of 2020 will be much larger - approximately a quarter bigger - than its current size. New markets' share of global sales is increasing dramatically. These countries are becoming critical to the industry because of the many millions of beauty consumers which they are adding and strong economic growth they are achieving.

Beauty cultures. As a result of this shift to new regions, beauty cultures which are quite distinct to those of more mature markets in Europe and North America will play a much more influential role. This is because ethnicity especially hair and skin type - combined with traditions shape people's beauty rituals and product priorities.

To take just two examples: people with African type hair and Chinese women spend more time and money on their haircare and skincare respectively than anyone else. In each case, complicated hair styling and multi-step skincare regimes determine the types of products used and the time invested.

Product basket. The product basket which corresponds to this 2020 beauty market will include a wider selection of products in line with consumers' rituals. Skincare and haircare categories will continue to dominate the beauty market as they do today. However, the actual products in both the skin and the haircare basket will be quite different as regards the range and type of formulation.

These new beauty markets are fully explained in our Global Beauty: New Consumer Behaviour/Regimes and Market Report 2015. Contact for details

A 35 minute webinar which maps and explains the different beauty cultures which are becoming more influential market is available. Contact for details