Posted: March 6, 2014
Euromonitor International is once again presenting trends in the beauty industry at this year’s in-cosmetics, taking place in Hamburg, Germany, April 1–3, 2014. In a video on Euromonitor’s website, Irina Barbalova, global head of beauty and personal care research at Euromonitor, offers insight on to what the market research company will be sharing with 2014 in-cosmetics attendees. She notes, “We’ll be there with two presentations—one looking at global industry dynamics, and the other focusing on the ever increasingly dynamic hair care category.”
Focusing on market development and growth, Barbalova explains, “My talk on the multifaceted evolution of beauty will really look at certain shifts we’re seeing in terms of geographical importance and in terms of category importance. Both China and Brazil slowed down in 2013—the most lackluster and sluggish performance in more than a decade from both countries. So really 2014 will be all about streamlining portfolios and also making sure that focus is more tailored to those local environments. Despite the slowdown, however, there’s still much room for growth in both China and Brazil beyond first-tier cities. So, effectively, the two markets will actually contribute with half the total global beauty industry contribution by 2018.
“When we look at categories, it’s quite interesting to see that staple categories like oral care and deodorants are actually outperforming discretionary categories, and we’re still seeing a lot of blur in terms of claims and benefits across color, skin and sun care. But now this is coming through in hair care, as well. “What’s most important, probably, for 2014 will be that innovation will not just focus on results and function—innovation will be more experiential driven. So how consumers interact with products and what senses those products actually evoke with consumers,” Barbalova concludes.