Russia Beauty and Personal Care Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Russia Beauty and Personal Care Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Russia beauty and personal care products market is forecasted to grow at a CAGR of 5.09% during the forecast period.

Key Highlights

• The market is characterized by pockets of regions which are un-penetrated, more scope of introducing new products in existing large and mid-sized city markets, and an undermined purchasing power because of the Crimea annexation and subsequent economic sanctions.

• High disposable income of high and mid-income Russians, an inclination to spend on appearance, a large section of the world’s teens growing older, younger, a large section of the country’s population being older and ageing, a union of for skin-benefiting and beautifying aspects in new makeup products through research into use of natural products, continuation of research on breakthrough technologies for premium and other products, introduction of a range of new product classes (DD and EE creams, etc.) are some of the drivers of this market.

Key Market TrendsOverview: Hair Care Segment in Russia

The hair care segment of the Russia beauty and personal care products market is fairly dominated by Schwarzkopf & Henkel, claiming around 23% of the market, L’Oreal Russia, and others. Both have a strong presence in both home-based and salon products. An aging population (almost 60% of Russians are aged between 25 to 64) is driving the hair colorant and hair styling market. An increasingly urban population of both men and women is further expanding the scope of the market. However, an economic slowdown in the wake of Russia-Ukraine crisis leading to the declining purchase of high-value hair care and styling items and salon visits, preference for natural products leading to decline in styling product purchase, and negative reviewing of products will form the bottlenecks in hair care sales in Russia.

Leading Specialized Cosmetic Chains In Russia

Among the specialized cosmetic retail, the Magnit Cosmetic retail chain at the end of 2018 for the first time in 15 years overtook the revenue of the long-term segment leader, L'Etoile. Revenue Magnit Cosmetic grew last year by 16%, and L'Etuali - by 3%. The third place is reserved for the Riv Gauche network, whose sales increased by only 1%, to 37 billion rubles. Notably, general sales of cosmetics, perfumes and personal care in specialized retail in 2018 were recorded to attain a growth rate of 10% which also makes it the fastest-growing channel of distribution among all.

Competitive Landscape

Distribution is pervasive through exclusive stores of personal care and beauty products in malls or standalone, while e-commerce is emerging as a competitor to direct sales for all mass and premium brands. Hence, major players are seeking to make a presence in all forms of distributing channels. Also, the scope of innovation in the beauty and cosmetics range is high. The leading players in the Russia beauty and personal care market are L'Oreal Group, Procter & Gamble, Beiersdorf AG, Avon Products, Inc., Unilever, The Estée Lauder Companies Inc., Shiseido Company, Limited, etc.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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