Euromonitor Confirms Premium Skincare Market Growing

Euromonitor International’s 2017 edition reveals a strong beauty and personal care industry in 2016, with a respectable 5% growth. For the second consecutive year, the premium segment outperformed its mass counterpart, with nearly 6% growth.

Growth Shifts: US Solid, Emerging Markets Mixed Results of Falter and Recovery

At county level, Brazil and Russia have restored their place among the promising growth markets. While the economic situation improved in Brazil, brand owners also resorted to measures such as frugal innovation and promotional offers to keep demand intact. Meanwhile, Russia was boosted by local players, such as Natura Siberica and Faberlic, and higher spending in Russian high streets, as consumers shunned shopping destinations such as Paris and London, and spent less in travel retail. These dynamics helped Brazil and Russia post growths of 4.8% and 9.8%, respectively.

India and Indonesia continued to drive growth in 2016, at 9.2% and 10.6%, while their market size nearly doubled over 2011-2016 to reach US$12 billion and US$4.6 billion, respectively. Projections point to similar dynamics, with India expected to suffer in the short-term from demonetisation, but is expected to recover quickly as retailers facilitate cashless transactions.

Rodan and Fields is currently in the United States, Canada and Australia and going into 183 countries. Speculation as to where they go next is buzzing. Corporate has sent their leaders on a luxury trip the last two years to Canada and Australia and then coincidentally launched there next. Last summer the leaders went to England. Corporate also announced at convention in October that the website will soon be available in Spanish. This is great news for consumers and consultants. Looking at the skincare market growth in South America it seems as though that was a smart and strategic move.