Beauty & Personal Care - New Zealand

New Zealand

The revenue of the Beauty & Personal Care market in New Zealand is projected to reach US$1,437.00m in 2024.
This market is expected to grow at an annual rate of 5.15% (CAGR 2024-2029).
The largest segment within the market is Personal Care, which is estimated to have a market volume of US$655.00m in 2024.
When compared globally, in the United States generates the highest revenue in this market, with US$101bn in 2024.
In terms of per capita income, in New Zealand generates US$272.60 per person in 2024.
Furthermore, it is predicted that online sales will account for 28.8% of the total revenue in the Beauty & Personal Care market by 2024.
"New Zealand's growing interest in natural and organic beauty products is driving the demand for locally sourced ingredients."

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

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Analyst Opinion

The Beauty & Personal Care market in New Zealand is witnessing minimal growth, influenced by factors such as changing consumer preferences, a shift towards natural products, and the rising demand for innovative beauty technologies, impacting overall market dynamics.

Customer preferences: Consumers in New Zealand are increasingly prioritizing sustainability and ethical sourcing in their beauty and personal care choices, reflecting a broader global trend towards environmental consciousness. This shift is particularly evident among younger demographics, who favor brands that align with their values of transparency and social responsibility. Additionally, the rise of skincare routines influenced by cultural practices, such as K-beauty, is reshaping consumer preferences, as individuals seek innovative, multi-functional products that cater to diverse skin needs.

Trends in the market: In New Zealand, the Beauty & Personal Care market is experiencing a significant shift towards sustainability and ethical sourcing, with consumers increasingly demanding transparency from brands. This trend is particularly pronounced among younger consumers, who prioritize products that reflect their values of environmental responsibility and social ethics. Additionally, the influence of K-beauty has led to a growing interest in innovative skincare routines that emphasize multi-functionality and cater to diverse skin types. These trends are shaping market dynamics, urging industry stakeholders to adapt their strategies to meet evolving consumer expectations and enhance brand loyalty.

Local special circumstances: In New Zealand, the Beauty & Personal Care market is shaped by a unique blend of geographical isolation and a strong emphasis on natural ingredients, reflecting the country's rich biodiversity. The local culture values holistic well-being and sustainability, influencing consumer preferences for eco-friendly and ethically produced products. Regulatory frameworks also promote stringent safety and environmental standards, encouraging brands to adopt transparent practices. This environment fosters innovation, as companies increasingly focus on locally sourced ingredients and sustainable packaging, appealing to the conscientious consumer.

Underlying macroeconomic factors: The Beauty & Personal Care market in New Zealand is significantly influenced by macroeconomic factors such as consumer spending patterns, economic stability, and global trade dynamics. With a robust national economy and a relatively high disposable income, New Zealand consumers are increasingly investing in premium beauty products that emphasize quality and sustainability. Fiscal policies that support eco-friendly initiatives further enhance this trend, promoting local brands focused on natural ingredients. Additionally, global shifts towards clean beauty and ethical sourcing resonate with local values, driving demand for innovative, environmentally conscious products. As international trade relationships evolve, access to diverse markets may also impact product availability and pricing, shaping consumer choices in this sector.

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.