Opinion | 29 Nov 2012
Nicole Tyrimou Analyst – Beauty and Personal Care
With so much talk of the slowdown of the BRIC markets, and in particular China, many industry players are wondering whether they will continue to be the key drivers of growth in beauty and personal care. The answer is very simply yes. According to Euromonitor International, from 2011 to 2016 the BRICs will add another US$35 billion to the global beauty and personal care industry, as their spending on beauty shows no signs of slowing down. Furthermore, recent market movements highlight that these dynamic growth markets are increasingly becoming trend setters, not followers. Major players have been taking inspiration from the beauty regimes of the BRICs and spreading them to the rest of the world.
BRICs Absolute Growth 2011-2016
Source: Euromonitor International
The BRICs’ power
Despite its growth falling into single digits for the first time since 2008, Brazil will be the largest contributor to gains by retail value over the next five years. The 2014 World Cup and the 2016 Olympics are expected to attract even more foreign investment to the country and, together with the rise of minimum wages and the new measures to detach Brazil from European economies, should boost the country’s economy even further.
Meanwhile, even though China’s economic slowdown continues, it will still be the second largest contributor to beauty sales from 2011 to 2016.Together with Brazil, these two markets will account for the lion’s share of absolute value growth.
Trend setting BRICs
The success of Blemish Balm (BB) creams originally from South Korea, whitening/brightening products from Asia, natural ingredients’ soaring popularity in India, as well as Brazilian blow-dries clearly shows there has been as shift in the origin of global trends in beauty and personal care. For example, other facial make up, a category which includes primers as well as BB creams was a slow growth category in North America until the introduction of BB creams. This caused growth to jump from 3% in 2009, to almost 12% in 2010. The BB cream craze also has industry players fearing for the end of tinted moisturiser. Their popularity has even inspired the introduction of Colour Correction (CC) creams, which were again launched in Asia first. Following their success, Procter & Gamble will be launching the Olay Total Effects CC cream in the US in October 2012.
Beauty and personal care trends inspired by BRIC markets are most evident in skin care, where over 40% of sales came from Asia Pacific in 2011. The most noticeable example of categories and trends moving from East to West is whitening/brightening.
Whitening facial skincare grew by 9% in North America during 2011. Although, whitening products in North America and Western Europe are marketed using words like brightening, radiant skin or evening skin tone among others, they are all essentially the same product. Beauty firms have been releasing a range of whitening/brightening products beyond Asia Pacific to cope with consumer demand from cleansers, to tonics, anti-ageing and even eye care, like Clinique’s very popular Even Better Eyes Dark Circle Corrector.
The increasing buying power of consumers in the BRICs will continue to shape the future of beauty and personal care. Furthermore, as consumers in these mounting economic and fmcg powerhouses have become more sophisticated over the years, their cultural influences and beauty regimes will continue to set global trends for the industry.
For further insight, please contact Nicole Tyrimou, Beauty and Personal Care Analyst at Euromonitor International on nicole.tyrimou@euromonitor.com
Opinion | 29 Nov 2012
Nicole Tyrimou Analyst – Beauty and Personal Care
With so much talk of the slowdown of the BRIC markets, and in particular China, many industry players are wondering whether they will continue to be the key drivers of growth in beauty and personal care. The answer is very simply yes. According to Euromonitor International, from 2011 to 2016 the BRICs will add another US$35 billion to the global beauty and personal care industry, as their spending on beauty shows no signs of slowing down. Furthermore, recent market movements highlight that these dynamic growth markets are increasingly becoming trend setters, not followers. Major players have been taking inspiration from the beauty regimes of the BRICs and spreading them to the rest of the world.
BRICs Absolute Growth 2011-2016
Opinion | 29 Nov 2012
Nicole Tyrimou Analyst – Beauty and Personal Care
With so much talk of the slowdown of the BRIC markets, and in particular China, many industry players are wondering whether they will continue to be the key drivers of growth in beauty and personal care. The answer is very simply yes. According to Euromonitor International, from 2011 to 2016 the BRICs will add another US$35 billion to the global beauty and personal care industry, as their spending on beauty shows no signs of slowing down. Furthermore, recent market movements highlight that these dynamic growth markets are increasingly becoming trend setters, not followers. Major players have been taking inspiration from the beauty regimes of the BRICs and spreading them to the rest of the world.
BRICs Absolute Growth 2011-2016
Source: Euromonitor International
The BRICs’ power
Despite its growth falling into single digits for the first time since 2008, Brazil will be the largest contributor to gains by retail value over the next five years. The 2014 World Cup and the 2016 Olympics are expected to attract even more foreign investment to the country and, together with the rise of minimum wages and the new measures to detach Brazil from European economies, should boost the country’s economy even further.
Meanwhile, even though China’s economic slowdown continues, it will still be the second largest contributor to beauty sales from 2011 to 2016.Together with Brazil, these two markets will account for the lion’s share of absolute value growth.
Trend setting BRICs
The success of Blemish Balm (BB) creams originally from South Korea, whitening/brightening products from Asia, natural ingredients’ soaring popularity in India, as well as Brazilian blow-dries clearly shows there has been as shift in the origin of global trends in beauty and personal care. For example, other facial make up, a category which includes primers as well as BB creams was a slow growth category in North America until the introduction of BB creams. This caused growth to jump from 3% in 2009, to almost 12% in 2010. The BB cream craze also has industry players fearing for the end of tinted moisturiser. Their popularity has even inspired the introduction of Colour Correction (CC) creams, which were again launched in Asia first. Following their success, Procter & Gamble will be launching the Olay Total Effects CC cream in the US in October 2012.
Beauty and personal care trends inspired by BRIC markets are most evident in skin care, where over 40% of sales came from Asia Pacific in 2011. The most noticeable example of categories and trends moving from East to West is whitening/brightening.
Whitening facial skincare grew by 9% in North America during 2011. Although, whitening products in North America and Western Europe are marketed using words like brightening, radiant skin or evening skin tone among others, they are all essentially the same product. Beauty firms have been releasing a range of whitening/brightening products beyond Asia Pacific to cope with consumer demand from cleansers, to tonics, anti-ageing and even eye care, like Clinique’s very popular Even Better Eyes Dark Circle Corrector.
The increasing buying power of consumers in the BRICs will continue to shape the future of beauty and personal care. Furthermore, as consumers in these mounting economic and fmcg powerhouses have become more sophisticated over the years, their cultural influences and beauty regimes will continue to set global trends for the industry.
For further insight, please contact Nicole Tyrimou, Beauty and Personal Care Analyst at Euromonitor International onnicole.tyrimou@euromonitor.com
Source: Euromonitor International
The BRICs’ power
Despite its growth falling into single digits for the first time since 2008, Brazil will be the largest contributor to gains by retail value over the next five years. The 2014 World Cup and the 2016 Olympics are expected to attract even more foreign investment to the country and, together with the rise of minimum wages and the new measures to detach Brazil from European economies, should boost the country’s economy even further.
Meanwhile, even though China’s economic slowdown continues, it will still be the second largest contributor to beauty sales from 2011 to 2016.Together with Brazil, these two markets will account for the lion’s share of absolute value growth.
Trend setting BRICs
The success of Blemish Balm (BB) creams originally from South Korea, whitening/brightening products from Asia, natural ingredients’ soaring popularity in India, as well as Brazilian blow-dries clearly shows there has been as shift in the origin of global trends in beauty and personal care. For example, other facial make up, a category which includes primers as well as BB creams was a slow growth category in North America until the introduction of BB creams. This caused growth to jump from 3% in 2009, to almost 12% in 2010. The BB cream craze also has industry players fearing for the end of tinted moisturiser. Their popularity has even inspired the introduction of Colour Correction (CC) creams, which were again launched in Asia first. Following their success, Procter & Gamble will be launching the Olay Total Effects CC cream in the US in October 2012.
Beauty and personal care trends inspired by BRIC markets are most evident in skin care, where over 40% of sales came from Asia Pacific in 2011. The most noticeable example of categories and trends moving from East to West is whitening/brightening.
Whitening facial skincare grew by 9% in North America during 2011. Although, whitening products in North America and Western Europe are marketed using words like brightening, radiant skin or evening skin tone among others, they are all essentially the same product. Beauty firms have been releasing a range of whitening/brightening products beyond Asia Pacific to cope with consumer demand from cleansers, to tonics, anti-ageing and even eye care, like Clinique’s very popular Even Better Eyes Dark Circle Corrector.
The increasing buying power of consumers in the BRICs will continue to shape the future of beauty and personal care. Furthermore, as consumers in these mounting economic and fmcg powerhouses have become more sophisticated over the years, their cultural influences and beauty regimes will continue to set global trends for the industry.
For further insight, please contact Nicole Tyrimou, Beauty and Personal Care Analyst at Euromonitor International onnicole.tyrimou@euromonitor.com
Opinion | 29 Nov 2012
Nicole Tyrimou Analyst – Beauty and Personal Care
With so much talk of the slowdown of the BRIC markets, and in particular China, many industry players are wondering whether they will continue to be the key drivers of growth in beauty and personal care. The answer is very simply yes. According to Euromonitor International, from 2011 to 2016 the BRICs will add another US$35 billion to the global beauty and personal care industry, as their spending on beauty shows no signs of slowing down. Furthermore, recent market movements highlight that these dynamic growth markets are increasingly becoming trend setters, not followers. Major players have been taking inspiration from the beauty regimes of the BRICs and spreading them to the rest of the world.
BRICs Absolute Growth 2011-2016
Opinion | 29 Nov 2012
Nicole Tyrimou Analyst – Beauty and Personal Care
With so much talk of the slowdown of the BRIC markets, and in particular China, many industry players are wondering whether they will continue to be the key drivers of growth in beauty and personal care. The answer is very simply yes. According to Euromonitor International, from 2011 to 2016 the BRICs will add another US$35 billion to the global beauty and personal care industry, as their spending on beauty shows no signs of slowing down. Furthermore, recent market movements highlight that these dynamic growth markets are increasingly becoming trend setters, not followers. Major players have been taking inspiration from the beauty regimes of the BRICs and spreading them to the rest of the world.
BRICs Absolute Growth 2011-2016
Source: Euromonitor International
The BRICs’ power
Despite its growth falling into single digits for the first time since 2008, Brazil will be the largest contributor to gains by retail value over the next five years. The 2014 World Cup and the 2016 Olympics are expected to attract even more foreign investment to the country and, together with the rise of minimum wages and the new measures to detach Brazil from European economies, should boost the country’s economy even further.
Meanwhile, even though China’s economic slowdown continues, it will still be the second largest contributor to beauty sales from 2011 to 2016.Together with Brazil, these two markets will account for the lion’s share of absolute value growth.
Trend setting BRICs
The success of Blemish Balm (BB) creams originally from South Korea, whitening/brightening products from Asia, natural ingredients’ soaring popularity in India, as well as Brazilian blow-dries clearly shows there has been as shift in the origin of global trends in beauty and personal care. For example, other facial make up, a category which includes primers as well as BB creams was a slow growth category in North America until the introduction of BB creams. This caused growth to jump from 3% in 2009, to almost 12% in 2010. The BB cream craze also has industry players fearing for the end of tinted moisturiser. Their popularity has even inspired the introduction of Colour Correction (CC) creams, which were again launched in Asia first. Following their success, Procter & Gamble will be launching the Olay Total Effects CC cream in the US in October 2012.
Beauty and personal care trends inspired by BRIC markets are most evident in skin care, where over 40% of sales came from Asia Pacific in 2011. The most noticeable example of categories and trends moving from East to West is whitening/brightening.
Whitening facial skincare grew by 9% in North America during 2011. Although, whitening products in North America and Western Europe are marketed using words like brightening, radiant skin or evening skin tone among others, they are all essentially the same product. Beauty firms have been releasing a range of whitening/brightening products beyond Asia Pacific to cope with consumer demand from cleansers, to tonics, anti-ageing and even eye care, like Clinique’s very popular Even Better Eyes Dark Circle Corrector.
The increasing buying power of consumers in the BRICs will continue to shape the future of beauty and personal care. Furthermore, as consumers in these mounting economic and fmcg powerhouses have become more sophisticated over the years, their cultural influences and beauty regimes will continue to set global trends for the industry.
For further insight, please contact Nicole Tyrimou, Beauty and Personal Care Analyst at Euromonitor International onnicole.tyrimou@euromonitor.com
Source: Euromonitor International
The BRICs’ power
Despite its growth falling into single digits for the first time since 2008, Brazil will be the largest contributor to gains by retail value over the next five years. The 2014 World Cup and the 2016 Olympics are expected to attract even more foreign investment to the country and, together with the rise of minimum wages and the new measures to detach Brazil from European economies, should boost the country’s economy even further.
Meanwhile, even though China’s economic slowdown continues, it will still be the second largest contributor to beauty sales from 2011 to 2016.Together with Brazil, these two markets will account for the lion’s share of absolute value growth.
Trend setting BRICs
The success of Blemish Balm (BB) creams originally from South Korea, whitening/brightening products from Asia, natural ingredients’ soaring popularity in India, as well as Brazilian blow-dries clearly shows there has been as shift in the origin of global trends in beauty and personal care. For example, other facial make up, a category which includes primers as well as BB creams was a slow growth category in North America until the introduction of BB creams. This caused growth to jump from 3% in 2009, to almost 12% in 2010. The BB cream craze also has industry players fearing for the end of tinted moisturiser. Their popularity has even inspired the introduction of Colour Correction (CC) creams, which were again launched in Asia first. Following their success, Procter & Gamble will be launching the Olay Total Effects CC cream in the US in October 2012.
Beauty and personal care trends inspired by BRIC markets are most evident in skin care, where over 40% of sales came from Asia Pacific in 2011. The most noticeable example of categories and trends moving from East to West is whitening/brightening.
Whitening facial skincare grew by 9% in North America during 2011. Although, whitening products in North America and Western Europe are marketed using words like brightening, radiant skin or evening skin tone among others, they are all essentially the same product. Beauty firms have been releasing a range of whitening/brightening products beyond Asia Pacific to cope with consumer demand from cleansers, to tonics, anti-ageing and even eye care, like Clinique’s very popular Even Better Eyes Dark Circle Corrector.
The increasing buying power of consumers in the BRICs will continue to shape the future of beauty and personal care. Furthermore, as consumers in these mounting economic and fmcg powerhouses have become more sophisticated over the years, their cultural influences and beauty regimes will continue to set global trends for the industry.
For further insight, please contact Nicole Tyrimou, Beauty and Personal Care Analyst at Euromonitor International onnicole.tyrimou@euromonitor.com