Europe Beauty and Personal Care Products Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Europe Beauty and Personal Care Products Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Europe Beauty and Personal Care Products Market is projected to register a CAGR of 2.6% during the forecast period (2022-2027).

A major issue faced by the manufacturers during the COVID-19 situation was the disrupted supply chains, especially for cosmetics, during the lockdown. As a result, manufacturers and exporters were facing high competition. Furthermore, the on-premise sales through supermarkets and convenience stores witnessed a decline due to the subsequent lockdowns and the closure of retail stores, as individuals have been practicing social distancing measures and avoiding gatherings and outings. However, the sales through online retail channels majorly supported the market penetration in United Kingdom, where the share of e-commerce in retail rose from 17.3% to 20.3% in 2020, according to the Organisation for Economic Co-operation and Development (OCED).

Increased health awareness among consumers boosts the demand for natural personal care products. With the growing demand for organic ingredients, consumers are inclined toward organic personal care products, which is expected to drive market growth during the study period. Furthermore, the rising awareness about the harmful effects of chemicals and synthetic products is another factor augmenting the market's growth. Most consumers tend to buy products with natural or organic labeling, which is driving the market growth.

In Europe, about 72% of consumers across all age brackets use beauty and personal care products as they strongly believe it is the key to maintaining a healthy and hygienic life. The consumer behavior towards maintaining a quality life makes Europe a potential market for innovations and launches in the beauty and personal care market. Moreover, with the increasing demand for natural ingredients and the growing consumer base that cares about raw-material composition, especially in the European regions, the key players in the beauty and personal care products market consider opportunistic for higher brand penetration.

Europe Beauty & Personal Care Products Market TrendsDemand For Organic/Natural Beauty and Personal Care Products Increasing Consumption

The region has witnessed an increasing demand for natural and organic products due to the rise in consumer awareness about the harmful effects of certain compounds, such as paraben and aluminum compounds in skincare, haircare, and deodorants. A high percentage of European consumers choose one brand over others based on its natural formulation. This has increased the demand for safe, natural, and organic products in the last few years. The demand for natural ingredients has been quite evident in the market, leading to most companies launching natural-inspired products, such as Vegan Ingredients, plant-inspired and premium botanical ingredients coupled with multi-functional properties. Consumers' growing awareness of health and hygiene has resulted in demand for natural and organic products in the region. Such factors have compelled manufacturers to improve their product offerings to match the changing consumer requirements. Companies are focusing on offering products that contain vitamins, aloe, chamomile, and other ingredients. Furthermore, the trend for organic concept stores for organic cosmetics products among consumers is also anticipated to enhance the growth of organic & natural beauty and personal care products in Europe.

Germany Holds the Largest Share

Germany is the largest cosmetic market in Europe, followed by France and United Kingdom. The German cosmetics and toiletries market is mainly driven by women and younger consumers willing to spend more money on such offerings. Hair, skin, and face care products are the two categories with the highest turnover. Germany's per capita annual spending on cosmetics is relatively high at EUR 153/year, with high interest in premium cosmetics. Despite the increasing maturity and competition of the market in Germany, product launches and innovations are expected to drive sales in the country. Manufacturers' focus on specific consumer groups' products, such as anti-aging products and men's grooming products, has also contributed to the market's success in this country. Many prestigious brands in Germany have strengthened their position by acquiring smaller companies, thus driving the market.

Europe Beauty & Personal Care Products Market Competitive Analysis

Europe Beauty and Personal Care market is highly competitive, with a considerable number of regional and global players. The major players in Europe's beauty and Personal care market include Loreal, Unilever, Procter & Gamble, Beiersdorf AG, Coty Deutschland GmbH, and others. Product launches with multifunctional properties under each segment are one of the major strategies followed by the regional companies. The global giants are expanding their distribution by launching their products on various online portals to increase their consumer base. The major players are acquiring small firms to expand their market.

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