Cosmetics & Personal Care

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In the future, the cosmetics and personal care industry is predicted to record gains within all segments. Particularly strong growth is expected for sun protection and anti-aging products as consumers become increasingly aware of the dangers of sun exposure and more concerned with preserving a youthful appearance. Emerging nations represent huge potential for international companies, offering better quality products than locally produced goods to populations with rising income levels.

Rising income means that consumers are more concerned with product effectiveness and ingredients used rather than cheaper products. Manufacturers are, therefore, focused on advertising their products as superior to those of rival companies, rather than systematically seeking to undercut market prices. Digitalization and the coronavirus pandemic have shifted cosmetics and personal care into the online realm, where shoppers have access to a wide range of products, reviews, and delivery options.