8 | www.CosmeticsandToiletries.com Vol. 130, No. 4 | May 2015
MARKET INTELLIGENCE | C&T
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The good news is that emerging market consumers are still spending plenty of cash on beauty and personal care. Value
sales across emerging markets were up almost
10% in 2014 over the previous year at fixed
U.S. dollar prices, according to new data from
The bad news is that annual growth
failed to reach double-digit levels for the first
time in more than a decade. This may be
the start of an era of more subdued emerging market demand–and subdued future
growth makes sense. Emerging markets’ sales
performance has been in a state of flux over
2013–2014, as global beauty and personal
care brands battle with a more reticent China,
a more cash-strapped Brazil and a more
However, the situation is set to worsen.
Latin America is teetering on the edge of
recession, Eastern Europe is in conflict, the
Middle East and Africa are in varying degrees
of upheaval, and emerging Asia is losing its
economic dynamism. In addition, currency
instability in key countries, such as Brazil,
Mexico, Turkey and South Africa, is creating
havoc in terms of strategic planning.
These factors will conspire to turn former
safe havens of growth into hotbeds of uncertainty. It is true that emerging market growth
in 2014 was still much stronger than the
2% growth in developed markets. However,
developed markets are starting to look like a
Beauty Industry Growth:
Robert Walker, Euromonitor International
n Value sales across emerging markets were up almost
10% in 2014 over the previous year.
n Developed markets and the United States could soon be
outperforming emerging markets in key industry categories.
n Some of the beauty industry’s strongest performing
imports in China over 2013–2014 came from South Korea.
n Brazil’s beauty and personal care retail sales grew 11% in
2014 over the previous year at fixed U.S. dollar prices.
n India was one of the best performing emerging markets
for beauty and personal care in 2014, with retail sales
climbing 15% from 2013.
Growth in Beauty
Mature Markets Offer