Virginia Lee, Senior Research Analyst at Euromonitor, recently spoke at HBA in New York on the global beauty and personal care (BPC) industry. Virginia discusses the standout areas for beauty and personal care in 2009. Latin America, Africa, and the Middle East were high on the list of top performing markets for BPC. Latin America benefited from high sales in the following categories:
- Colour cosmetics
- Skin Care
North America, on the other hand, saw its value sales decline as recession-wary consumers chose to remain frugal.
The BRIC markets remain prospects for future beauty and personal care growth, along with frontier markets such as Vietnam, Tunisia and the United Arab Emirates. Vietnam ‘s economy is expected to grow as manufacturers shift their production from China, where wages are increasing. Emerging markets are also poised to do well during economic recovery, and will see strong BPC sales as a result.
During the economic downturn, necessity products, such as
- bath and shower products
did well, especially compared to discretionary categories.