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Key regions: United States, Worldwide, India, Indonesia, Canada
The Beauty & Personal Care market in the EU-27 is facing stagnant growth, influenced by shifting consumer preferences towards sustainability, increasing competition from niche brands, and economic uncertainties affecting spending habits on personal grooming and cosmetic products.
Customer preferences: Consumers in the EU-27 Beauty & Personal Care market are increasingly prioritizing eco-friendly and cruelty-free products, reflecting a broader cultural shift towards sustainability. This trend is particularly pronounced among younger demographics, such as Gen Z and millennials, who are inclined to support brands that align with their values. Additionally, personalized beauty solutions that cater to diverse skin types and concerns are gaining traction, driven by a growing awareness of individual needs and inclusivity in beauty standards.
Trends in the market: In the EU-27 Beauty & Personal Care market, there is a notable shift towards eco-friendly and cruelty-free products, driven by heightened consumer awareness and demand for sustainability. This trend is especially prominent among younger consumers, such as Gen Z and millennials, who are increasingly choosing brands that reflect their ethical values. Additionally, the rise of personalized beauty solutions is transforming the market landscape, as brands innovate to address diverse skin types and concerns. This focus on inclusivity not only enhances customer loyalty but also prompts industry stakeholders to adapt their strategies, ensuring alignment with evolving consumer expectations and regulatory standards.
Local special circumstances: In the EU-27 Beauty & Personal Care market, diverse local factors significantly shape consumer behavior and industry trends. The region's stringent regulatory environment emphasizes safety and sustainability, prompting brands to innovate responsibly. Cultural diversity across member states influences preferences, with distinct beauty rituals and ingredient preferences emerging. Additionally, the rise of digital platforms facilitates personalized beauty experiences, allowing brands to connect with consumers on a local level, fostering loyalty and driving growth in an increasingly competitive landscape.
Underlying macroeconomic factors: The Beauty & Personal Care market in the EU-27 is significantly influenced by macroeconomic factors, including consumer spending patterns, economic stability, and demographic shifts. As disposable incomes rise, consumers are more willing to invest in premium beauty products, while economic downturns can lead to increased demand for affordable alternatives. Furthermore, national fiscal policies that support innovation and sustainability drive brands to adopt eco-friendly practices. Global trends, such as the growing emphasis on health and wellness, also shape product offerings. Additionally, the impact of inflation and supply chain disruptions can affect pricing strategies and product availability, influencing overall market performance.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)