Beauty & Personal Care - CIS

In 2024, the Beauty & Personal Care market in the CIS is projected to generate revenue of US$22.49bn.
This market is expected to grow annually at a rate of 2.50% (CAGR 2024-2029).
The largest segment within this market is Personal Care, which is estimated to have a market volume of US$8.23bn in 2024.
When compared globally, in the United States leads in terms of revenue generation, with US$101bn in 2024.
On a per capita basis, the revenue generated in the CIS in 2024 amounts to US$92.68 per person.
Furthermore, it is anticipated that by 2024, online sales will account for 23.0% of the total revenue in the Beauty & Personal Care market.
In the CIS region, there is a growing demand for natural and organic beauty products, with consumers in countries like Russia and Ukraine seeking out eco-friendly and sustainable options.

Key regions: United States, Worldwide, India, Indonesia, Canada

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Analyst Opinion

The Beauty & Personal Care market in the CIS is currently facing negligible growth, influenced by shifting consumer preferences, economic challenges, and heightened competition. Despite these hurdles, innovation in product offerings and increased focus on sustainability are emerging trends that may revitalize the sector.

Customer preferences: Consumers in the CIS Beauty & Personal Care market are increasingly prioritizing natural and organic products, reflecting a growing awareness of health and environmental issues. There is a notable demand for personalized beauty solutions, fueled by a younger demographic that values individuality and self-expression. Additionally, the rise of social media influences purchasing decisions, with consumers gravitating towards brands that promote authenticity and transparency. This shift underscores a broader cultural movement towards sustainability and wellness in personal care routines.

Trends in the market: In the CIS Beauty & Personal Care market, there is a significant shift towards clean beauty, with consumers increasingly seeking products free from harmful chemicals and synthetic ingredients. The trend of customization is also gaining momentum, as brands offer tailored solutions that cater to individual skin types and preferences. The influence of social media continues to shape consumer behavior, fostering a preference for brands that showcase ethical practices and community engagement. This evolving landscape highlights the importance of sustainability and authenticity, urging industry stakeholders to adapt their strategies and innovate to meet these changing consumer demands.

Local special circumstances: In the CIS Beauty & Personal Care market, diverse cultural traditions and regional beauty rituals significantly influence consumer preferences. For instance, the popularity of natural ingredients like herbs and oils reflects local customs and historical practices. Additionally, regulatory frameworks are evolving, with stricter guidelines on product safety and labeling, promoting transparency in ingredient sourcing. Geographically, harsh climates drive demand for specialized skincare solutions, fostering innovation in hydration and protection products tailored to local conditions.

Underlying macroeconomic factors: The CIS Beauty & Personal Care market is shaped by several macroeconomic factors, including economic growth rates, consumer spending power, and currency fluctuations. As disposable incomes rise in certain regions, there is a notable shift towards premium beauty products, reflecting a growing trend for quality and effectiveness. Additionally, inflation rates and employment levels impact consumer confidence and purchasing behavior. Regulatory changes, particularly those enhancing product safety and environmental standards, also play a crucial role, as they encourage brands to innovate while maintaining compliance. Furthermore, global economic trends, such as supply chain disruptions and trade agreements, influence product availability and pricing strategies, affecting overall market dynamics.

Methodology

Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.