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EVOLVING HABITS IN GLOBAL BEAUTY
IN-COSMETICS 2015, BARCELONA
ILDIKO SZALAI – SENIOR ANALYST - BEAUTY AND PERSONAL CARE
© Euromonitor International
2
Euromonitor International: Strategic Global Market Research
PRIVATE LABEL AND CONSUMER TREND...
GLOBAL INDUSTRY HIGHLIGHTS
NEW FRONTIERS IN EMERGING MARKETS
KEY INDUSTRY THEMES
CONCLUSIONS
© Euromonitor International
4
0
1
2
3
4
5
6
7
2008 2009 2010 2011 2012 2013 2014
%ValueGrowth
Total / Premium / Mass Growt...
© Euromonitor International
5
Power Shift to Emerging Markets Continues Despite Slowdown
GLOBAL INDUSTRY HIGHLIGHTS
41%
51...
© Euromonitor International
6
New Prospective Markets Beyond China and Brazil
GLOBAL INDUSTRY HIGHLIGHTS
Beauty Forecast G...
© Euromonitor International
7
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
0
20,000
40,000
60,000
80,000
100,000
120,000
%valuegrowth
US$...
© Euromonitor International
8
Skin Care and Hair Care Largely Dominate Future Potential
GLOBAL INDUSTRY HIGHLIGHTS
Top Cat...
© Euromonitor International
9
Top Growth Segments Bring New Lucrative Opportunities
GLOBAL INDUSTRY HIGHLIGHTS
Top Growth ...
GLOBAL INDUSTRY HIGHLIGHTS
NEW FRONTIERS IN EMERGING MARKETS
KEY INDUSTRY THEMES
CONCLUSIONS
© Euromonitor International
11
China
Brazil
India
Saudi Arabia
Indonesia
Argentina
Mexico
Iran
Thailand
Turkey
South Afric...
© Euromonitor International
12
Emerging
markets
growth
Expanding
middle class
Young
populations
base
Intense
expansion of
...
© Euromonitor International
13
0 10 20 30 40 50 60 70 80 90 100
Indonesia
Australia
France
Germany
Middle East
UK
Russia
U...
© Euromonitor International
14
0
50
100
150
200
250
300
350
400
450
US$mnrsp
Middle East and Africa
0
500
1,000
1,500
2,00...
© Euromonitor International
15
0 20 40 60 80
China
Russia
Turkey
Japan
Mexico
US
UK
France
% of respondents
Ratio of Consu...
© Euromonitor International
16
Premium
Beauty
Mass Beauty
Mass vs Premium Opportunities in Emerging Markets
NEW FRONTIERS ...
© Euromonitor International
17
Premium Skin Care and Fragrance Potential
NEW FRONTIERS IN EMERGING MARKETS
GLOBAL INDUSTRY HIGHLIGHTS
NEW FRONTIERS IN EMERGING MARKETS
KEY INDUSTRY THEMES
CONCLUSIONS
© Euromonitor International
19
Customisation
Product
experience
Tailored
solutions
‘Asianification’
Asia inspired
concepts...
© Euromonitor International
20
Age Gender Ethnicity Format Texture Function
Tailored
Solution
Format: Miracle
Cushion
Foun...
© Euromonitor International
21
Product Customization Themes – Global Versus Regional Focus
KEY INDUSTRY THEMES
Anti-
pollu...
© Euromonitor International
22
Asian Concepts Expanding into International Markets
KEY INDUSTRY THEMES
Textures
Benefit
Fo...
© Euromonitor International
23
•Clarins Extra-
Comfort Anti-
Pollution Cleansing
Cream
Anti-
pollution
•Mise En Scene hair...
© Euromonitor International
24
0.0
0.2
0.4
0.6
0.8
%marketvalueshare
AmorePacific Corp: Korean
Brands’ Performance in Chin...
© Euromonitor International
25
-3 -2.5 -2 -1.5 -1 -0.5 0 0.5 1 1.5 2 2.5
P&G
Avon
Amway
Beiersdorf
Kao
Shiseido
Unilever
J...
© Euromonitor International
26
Regional Players Shake Up the Rankings
KEY INDUSTRY THEMES
Global Ranking - Regional Player...
© Euromonitor International
27
Dry Shampoo: Herbal
Essence
Multi-Cultural: Carol’s
Daughter
MEA: Gliss for covered
hair
Ex...
© Euromonitor International
28
La Labo
Rodin Olio
Lusso
Parfums
Frédéric
Malle
Glamglow
NYX
Cosmetics
Niely
Carol’s
Daught...
© Euromonitor International
29
Fastest Brands Globally – Where is the Next Acquisition?
NOVEL GROWTH CONCEPTS
0 20 40 60 8...
© Euromonitor International
30
Multi-
channel
retailers
Pure e-
tailers
Company
websites
Social media
sites
Mobile
applica...
© Euromonitor International
31
0
5
10
15
20
25
30
35
40
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,...
© Euromonitor International
32
Building Blocks of Digital Beauty Strategies
KEY INDUSTRY THEMES
‘Best price’
Purchase Moti...
© Euromonitor International
33
0 10 20 30 40 50 60 70
Buy something online
Visit price comparison websites
Read reviews of...
GLOBAL INDUSTRY HIGHLIGHTS
NEW FRONTIERS IN EMERGING MARKETS
KEY INDUSTRY THEMES
CONCLUSION
© Euromonitor International
35
21,052
10,144
4,052
3,711
2,228
2,112
20,097
China Brazil USA
India Saudi Arabia Indonesia
...
© Euromonitor International
36
Reinvention in Global Beauty Required to Sustain Growth
CONCLUSION
asianification
customisa...
THANK YOU FOR LISTENING
Ildiko Szalai
Senior Beauty and Personal Care Analyst
Ildiko.Szalai@euromonitor.com
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Evolving Habits in Global Beauty

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On April 15, 2015, Senior Beauty and Personal Care Analyst Ildiko Szalai presented at in-cosmetics on evolving consumer habits in the global beauty market. She spoke on new beauty frontiers in emerging markets and key industry themes on the global scale.

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Evolving Habits in Global Beauty

  1. 1. EVOLVING HABITS IN GLOBAL BEAUTY IN-COSMETICS 2015, BARCELONA ILDIKO SZALAI – SENIOR ANALYST - BEAUTY AND PERSONAL CARE
  2. 2. © Euromonitor International 2 Euromonitor International: Strategic Global Market Research PRIVATE LABEL AND CONSUMER TRENDS IN EUROPE
  3. 3. GLOBAL INDUSTRY HIGHLIGHTS NEW FRONTIERS IN EMERGING MARKETS KEY INDUSTRY THEMES CONCLUSIONS
  4. 4. © Euromonitor International 4 0 1 2 3 4 5 6 7 2008 2009 2010 2011 2012 2013 2014 %ValueGrowth Total / Premium / Mass Growth Total Beauty Premium Beauty Mass Beauty Beauty Industry Growth Sustained GLOBAL INDUSTRY HIGHLIGHTS Premium vs Mass Proportion Historic vs Forecast Premium Beauty Mass Beauty Note: Inner circle 2009-14, outer circle 2014-19 Global Beauty US$465bn in 2014, up by US$23bn
  5. 5. © Euromonitor International 5 Power Shift to Emerging Markets Continues Despite Slowdown GLOBAL INDUSTRY HIGHLIGHTS 41% 51% -1 0 1 2 3 4 5 6 7 -100,000 0 100,000 200,000 300,000 400,000 500,000 600,000 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 %Growth US$million Developed vs. Emerging Markets in Total Beauty Developed Emerging % Growth Developed markets % Growth Emerging Markets
  6. 6. © Euromonitor International 6 New Prospective Markets Beyond China and Brazil GLOBAL INDUSTRY HIGHLIGHTS Beauty Forecast Growth by Country
  7. 7. © Euromonitor International 7 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 0 20,000 40,000 60,000 80,000 100,000 120,000 %valuegrowth US$millionrsp Beauty Category Growth Performance 2013 vs 2014 Retail Value Sales 2014 US$ mn % Growth 2013 % Growth 2014 Top 4 Beauty Categories Maintain Growth Momentum in 2014 GLOBAL INDUSTRY HIGHLIGHTS
  8. 8. © Euromonitor International 8 Skin Care and Hair Care Largely Dominate Future Potential GLOBAL INDUSTRY HIGHLIGHTS Top Category by Country
  9. 9. © Euromonitor International 9 Top Growth Segments Bring New Lucrative Opportunities GLOBAL INDUSTRY HIGHLIGHTS Top Growth Beauty Categories
  10. 10. GLOBAL INDUSTRY HIGHLIGHTS NEW FRONTIERS IN EMERGING MARKETS KEY INDUSTRY THEMES CONCLUSIONS
  11. 11. © Euromonitor International 11 China Brazil India Saudi Arabia Indonesia Argentina Mexico Iran Thailand Turkey South Africa Pakistan Chile United Arab Emirates Colombia Peru Vietnam Poland Morocco Philippines Venezuela Malaysia Nigeria 0 1 2 3 4 5 6 7 8 9 10 100 1,000 10,000 100,000 %CAGR2014-2019 Absolute Market Value Growth 2014-2019 – US$ mn rsp Emerging Markets’ Growth Prospects 2014-2019 New Emerging Frontier Markets NEW FRONTIERS IN EMERGING MARKETS
  12. 12. © Euromonitor International 12 Emerging markets growth Expanding middle class Young populations base Intense expansion of multinationals Urbanization Beauty habits sophistication Common Growth Driving Factors in Emerging Markets NEW FRONTIERS IN EMERGING MARKETS
  13. 13. © Euromonitor International 13 0 10 20 30 40 50 60 70 80 90 100 Indonesia Australia France Germany Middle East UK Russia US Colombia Japan Turkey China Spain Brazil India Mexico Minutes Spent Daily on Grooming Daily Grooming Time More than 1 hour 31-60 minutes 16-30 minutes Less than 15 minutes Average Daily Grooming Routine Exceeds Half an Hour NEW FRONTIERS IN EMERGING MARKETS
  14. 14. © Euromonitor International 14 0 50 100 150 200 250 300 350 400 450 US$mnrsp Middle East and Africa 0 500 1,000 1,500 2,000 2,500 US$mnrsp Asia Pacific Staples in Developing Markets Set for Higher Absolute Growth NEW FRONTIERS IN EMERGING MARKETS Staples Non-essentials Absolute Market Value Growth – 2014-2019 (US$ million)
  15. 15. © Euromonitor International 15 0 20 40 60 80 China Russia Turkey Japan Mexico US UK France % of respondents Ratio of Consumers Using Face Masks at Least Weekly 0 20 40 60 80 Mexico Indonesia Colombia Brazil Spain Germany China Turkey % of respondents Ratio of Consumers Using Body Moisturizer Daily 0 20 40 Japan India Indonesia US Mexico China Brazil Middle East % of respondents Ratio of Consumers Apply Hair Oil Daily Export of Beauty Routines NEW FRONTIERS IN EMERGING MARKETS UAE: 13% CAGR 2014-2019 33% y-o-y 2014 15% y-o-y 2014
  16. 16. © Euromonitor International 16 Premium Beauty Mass Beauty Mass vs Premium Opportunities in Emerging Markets NEW FRONTIERS IN EMERGING MARKETS 86%Of Face Masks in China is Mass 96%Of Hair Care in India is Mass 99%Of General Purpose Body Moisturisers in Brazil is Mass
  17. 17. © Euromonitor International 17 Premium Skin Care and Fragrance Potential NEW FRONTIERS IN EMERGING MARKETS
  18. 18. GLOBAL INDUSTRY HIGHLIGHTS NEW FRONTIERS IN EMERGING MARKETS KEY INDUSTRY THEMES CONCLUSIONS
  19. 19. © Euromonitor International 19 Customisation Product experience Tailored solutions ‘Asianification’ Asia inspired concepts International expansion Niche Developed markets Intensifying acquisition Digital Consumer engagement Diversifying retail Key Drivers to Define the Industry in 2015 and Beyond KEY INDUSTRY THEMES
  20. 20. © Euromonitor International 20 Age Gender Ethnicity Format Texture Function Tailored Solution Format: Miracle Cushion Foundation Texture: Rodin Olio Russo Function: Clear Scalp & Hair Tailored: Clinique Smart Custom Serum The Evolving Trend of Customisation KEY INDUSTRY THEMES CUSTOMISATION
  21. 21. © Euromonitor International 21 Product Customization Themes – Global Versus Regional Focus KEY INDUSTRY THEMES Anti- pollution Scented products Product safety initiatives Brightening Whitening Growing sophistication in grooming regimes Raising the bar on ingredients Growing premium potential Niche category focusMultiple benefits add value Niche category focus CUSTOMISATION
  22. 22. © Euromonitor International 22 Asian Concepts Expanding into International Markets KEY INDUSTRY THEMES Textures Benefit Formats ASIANIFICATION
  23. 23. © Euromonitor International 23 •Clarins Extra- Comfort Anti- Pollution Cleansing Cream Anti- pollution •Mise En Scene hair care range Scented products • Hwa-Hae mobile app provides information on beauty product ingredients - South Korea Product safety initiatives • Wardah product range - Indonesia Halal beauty Further Potential Asian Waves Heading to International Stage KEY INDUSTRY THEMES ASIANIFICATION
  24. 24. © Euromonitor International 24 0.0 0.2 0.4 0.6 0.8 %marketvalueshare AmorePacific Corp: Korean Brands’ Performance in China BPC 2009-2014 Mamonde Laneíge Innisfree Growing International Demand for ‘Brand Korea’ KEY INDUSTRY THEMES Sulwhasoo on Amazon.co.uk Best selling AmorePacific brands in the US The FaceShop 2003: Establsihed 2014: 2,300 stores in 29 countries ASIANIFICATION
  25. 25. © Euromonitor International 25 -3 -2.5 -2 -1.5 -1 -0.5 0 0.5 1 1.5 2 2.5 P&G Avon Amway Beiersdorf Kao Shiseido Unilever Johnson & Johnson Jala (Group) Henkel Shanghai Inoherb Nu Skin Yunnan Baiyao Mary Kay Estée Lauder AmorePacific Proya Cosmetics L'Oréal Market value share growth (percentage points) China: Share Growth in Selected BPC Companies 2009-2014 Asian Players Intensify Competition KEY INDUSTRY THEMES Internationals ‘ eroding market value share ASIANIFICATION
  26. 26. © Euromonitor International 26 Regional Players Shake Up the Rankings KEY INDUSTRY THEMES Global Ranking - Regional Players ASIANIFICATION 0 5 10 15 20 25 30 35 40 45 50 2005 2014 %valueshare Top Beauty Players Market Share Henkel AG & Co KGaA Shiseido Co Ltd Avon Products Inc Johnson & Johnson Inc Estée Lauder Cos Inc Beiersdorf AG Colgate-Palmolive Co Unilever Group L'Oréal Groupe Procter & Gamble Co
  27. 27. © Euromonitor International 27 Dry Shampoo: Herbal Essence Multi-Cultural: Carol’s Daughter MEA: Gliss for covered hair Exclusive: Le Labo Wide Range of Niche Growth Drivers KEY INDUSTRY THEMES NICHEGROWTHDRIVERS
  28. 28. © Euromonitor International 28 La Labo Rodin Olio Lusso Parfums Frédéric Malle Glamglow NYX Cosmetics Niely Carol’s Daughter Magic Holdings X x Penhaligon’s L’Artisan Parfumeur Xx Rochas Parfume REN Intensifying Acquisition Activities for Niche Brands – 2014-2015 KEY INDUSTRY THEMES NICHEGROWTHDRIVERS
  29. 29. © Euromonitor International 29 Fastest Brands Globally – Where is the Next Acquisition? NOVEL GROWTH CONCEPTS 0 20 40 60 80 100 Innisfree Rodan + Fields Nip + Fab Bulldog Ciaté Glamglow Black Up Al Qurashi Beauty Diary Byredo Baylis & Harding Inglot Aesop Kiko Milano Catrice Mud Bioderma Fastest growing brands 2013-14 % (17-90% growth) 0 5 10 15 20 The Face Shop Coreana Herborist Rodial Urban Decay Jurlique Proya Make Up For Ever Black Opal Marubi Perfect Dabur Iman Iope Jo Malone Godrej MG Fastest growing brands 2013-14 % (10-17% growth) NICHEGROWTHDRIVERS
  30. 30. © Euromonitor International 30 Multi- channel retailers Pure e- tailers Company websites Social media sites Mobile applications Direct sellers In-store digital Beauty boxes From Niche Categories to Diversifying Niche Platforms KEY INDUSTRY THEMES DIGITAL Digital
  31. 31. © Euromonitor International 31 0 5 10 15 20 25 30 35 40 0 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 180,000 %CAGR2009-2014 US$million Internet Retailing Growth by Industry 2009-2014 2009 2014 % CAGR 2009-2014 Internet Retailing Still a Relative Small Channel in Beauty KEY INDUSTRY THEMES DIGITAL
  32. 32. © Euromonitor International 32 Building Blocks of Digital Beauty Strategies KEY INDUSTRY THEMES ‘Best price’ Purchase Motivation Comparability Retail Curation Self-service Retail Focus on Target Audience Personalization Virtual ‘Try –On’ Customized Solutions Brand Engagement Brand Building Consumer Analysis DIGITAL
  33. 33. © Euromonitor International 33 0 10 20 30 40 50 60 70 Buy something online Visit price comparison websites Read reviews of products and services Upload/share photos or videos Participate in microblogging Use an internet banking service Stream or download audiovisual content online Visit social networking sites Visit online news sites % consumers with online activity once a week Frequency of Online Activities 2011/2013 2011 2013 Selling to More Informed and More Engaged Consumer KEY INDUSTRY THEMES DIGITAL
  34. 34. GLOBAL INDUSTRY HIGHLIGHTS NEW FRONTIERS IN EMERGING MARKETS KEY INDUSTRY THEMES CONCLUSION
  35. 35. © Euromonitor International 35 21,052 10,144 4,052 3,711 2,228 2,112 20,097 China Brazil USA India Saudi Arabia Indonesia Others 20,115 7,568 7,317 5,820 5,780 5,212 4,001 3,675 3,457 Skin Care Colour Cosmetics Hair Care Fragrances Oral Care Men's Grooming Baby BPC Deodorants Bath and Shower Future Growth Highlights CONCLUSION Absolute Beauty Market Value Growth by Country and Category – 2014-2019 Categories marked with orange forecast to exceed global beauty growth of 2.6% CAGR 2014-2019
  36. 36. © Euromonitor International 36 Reinvention in Global Beauty Required to Sustain Growth CONCLUSION asianification customisation Cross-category personalisation Exclusive Multi-benefit Niche segments premium multi-culturalreinvention reinvention Digital reinvention reinvention reinvention reinvention reinvention reinvention reinvention reinvention reinvention reinvention reinvention reinvention reinvention reinvention
  37. 37. THANK YOU FOR LISTENING Ildiko Szalai Senior Beauty and Personal Care Analyst Ildiko.Szalai@euromonitor.com

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