Trend Report March 2023 Year 40 issue 3


Overview LESS BUT BETTER


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Skinimalism is given a boost in 2023, as many consumers cut back their spending, streamline their regimes, and seek multiple, proven benefits


Monthly Trend Reports With trends developing faster than ever before, the list of upcoming Cosmetics Business Trend Reports is updated every three months. Our next reports are outlined below.


April Men’s care May Fragrance June Sun care


Globally the skin care category was worth an estimated $117.2bn in 2022, according to Euromonitor International, and the prestige segment remained relatively strong in the US and across total Europe, with value sales up 11% in each region, according to The NPD Group. Mathilde Lion, Executive Director, Global Client Development at The NPD Group, says: “The fact that skin care recovered to almost 2019 levels, despite the fact that Chinese tourists, who are very important in the prestige skin care market, had not yet returned, is very positive.”


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It was also a strong year for new launches, which outperformed the market with growth of 17% in Europe, versus 2021, and particularly for face serums, which grew by an impressive 14% in units. Lancôme’s Rénergie Multi-Lift Ultra Triple Serum was the best selling prestige skin care launch, with the brand putting visible results, backed by clinical studies, at the centre of its marketing, and stating that 9 out of 10 women would use the Rénergie product as ‘their go-to serum’. Simon Murray, Senior Brand Manager at The Red


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Tree, explains that substantiated product claims and demonstrable proof points are exactly what the luxury skin care consumer is looking for, to show that the products deliver the results that they say they will. He says: “Brands that are clinically tested or have research data to back performance claims, brands that are created by a doctor or a scientist and brands that have a long track record of success are performing well. We continue to see that the luxury skin care consumer needs a


GLOBAL SKIN CARE SECTORS, VALUE & GROWTH, 2022


ake-up and fragrance may have stolen the limelight over the past year, but skin care has shone too, just not quite as brightly.


GLOBAL VALUE & GROWTH, 2022


$117.2bn +3.9


Estimated figures for total skin care. Source:


Euromonitor International


PRESTIGE SKIN CARE SALES, EUROPE, 2022


Total prestige w3.2bn skin care


+/- vs 2021 +11% +/- vs 2019


-1%


France, Germany, Spain, Italy, UK. Source: The NPD Group


Rénergie Multi-Lift Ultra Triple Serum was the best selling prestige skin care launch last year in Europe


Facial care $92.4bn +4.4


Body care Hand care $2.6n +0.9


$14.3bn +2.4


Estimated figures. Source: Euromonitor International


Sets/kits $7.9bn +2.0


2 cosmetics business March 2023


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