Hair and skincare products must be adjusted if brands want to
capitalise on growth opportunities coming on stream.
Different beauty cultures to become more influential
as new countries dominate rankings.
New consumers to remake the beauty market in their own image
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