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BLURRING THE LINES IN BEAUTY: GLOBAL MARKET AND CONSUMER DEMANDS FOR MULTI-
FUNCTIONAL PRODUCTS IN SUN CARE AND SKINCARE
IN-COSMETICS 2015 ONLINE CONFERENCE
ORU MOHIUDDIN, SENIOR BEAUTY AND PERSONAL CARE ANALYST
NICOLE TYRIMOU, BEAUTY AND PERSONAL CARE ANALYST
© Euromonitor International
2
Euromonitor International: Strategic Global Market Research
BLURRING THE LINES IN BEAUTY
THE STATE OF THE SUN CARE MARKET
OPPORTUNITY ZONES AND KEY
CHALLENGES
FUTURE PROSPECTS
© Euromonitor International
4
-4
-2
0
2
4
6
8
10
12
0
2000
4000
6000
8000
10000
12000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
% G
row
th
US
$ m
illi
on
Developed vs. Emerging Markets in Sun Care 2008-2018
Developed Emerging % Growth Developed markets % Growth Emerging Markets
Substitutes Cause Mature Market Stagnation in Sun Care
THE STATE OF THE SUN CARE MARKET
© Euromonitor International
5
0
2
4
6
8
10
12
0
20,000
40,000
60,000
80,000
100,000
120,000
% V
alu
e G
ro
wth
US
$ m
illi
on
Beauty and Personal Care in 2014
2014 US$mn 2012-13 % growth 2013-14% growth
Sun Care’s Growth Among the Sharpest Slow Downs of 2014
THE STATE OF THE SUN CARE MARKET
© Euromonitor International
6
Challenges and Opportunities
Sun Care’s Growth Potential in the Hands of a Few
THE STATE OF THE SUN CARE MARKET
Many unexplored markets
Governments raise awareness
Incorporating extra features
Additional step in routine
Low consumer awareness
High dependence on
economically volatile markets
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2014 2015 2016 2017 2018
% S
ha
re
of
va
lue
Sun Care’s revenues, 2014-2018, US$ million
Brazil US China Others
© Euromonitor International
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Sun Care Breakdown by Category
Aftersun Self-Tanning Sun Protection
Note: Inner circle 2008, middle 2013, outer 2018
Sun Protection’s Domination in Sun Care Dictates Growth
THE STATE OF THE SUN CARE MARKET
US$1.8bn Sun Protection’s global absolute
growth contribution to sun care by 2018
US$1bn Latin America’s contribution to Sun Protection’s global absolute growth
contribution by 2018
THE STATE OF THE SUN CARE MARKET
OPPORTUNITY ZONES AND KEY
CHALLENGES
FUTURE PROSPECTS
© Euromonitor International
9
Legislation
Awareness
Availability
Affordability
Category Cross-Over
Sun Care’s Key Challenges Hold Back Growth
OPPORTUNITY ZONES AND KEY CHALLENGES
© Euromonitor International
10
Sun Protection
Hydration
Anti-Agers Coverage
Miracle Cushion Fluid Foundation SPF23/PA++
NIVEA Daily Essentials Sensitive Day Cream SPF 15
Blurring the Lines as Sun Protection Features in Other Categories
OPPORTUNITY ZONES AND KEY CHALLENGES
© Euromonitor International
11
-3
-2
-1
0
1
2
3
4
Asia Pacific
Australasia
Eastern Europe
Latin AmericaMiddle East & Africa
North America
Western Europe
Absolute per capita growth between 2013-2014 by region
Skin Care Colour Cosmetics Sun Care
Skin Care Offerings Remain The Most Desired Globally
OPPORTUNITY ZONES AND KEY CHALLENGES
© Euromonitor International
12
-2
0
2
4
6
8
10
12
Asia Pacific Australasia EasternEurope
LatinAmerica
Middle East& Africa
NorthAmerica
WesternEurope
Ab
so
lute
vo
lum
e p
er
ca
pit
a -
ml
Facial Moisturisers vs. Anti-Agers vs. Sun Care in absolute volume per capita, 2013-2018 by region
Facial Moisturisers Anti-Agers Sun Care
Facial Skin Care Dominates Consumption Levels
OPPORTUNITY ZONES AND KEY CHALLENGES
© Euromonitor International
13
-3
-2
-1
0
1
2
3
4
5
6
7
0 5 10 15 20 25 30
Un
it P
ric
e %
Volume %
Volume vs. Unit Price, CAGR 2013-2018 by Region Selected Categories
Sun protection Anti-Agers Other Facial Make-Up
MEA
North America
North America
Asia Pacific
Asia Pacific
Latin America MEA
Latin America MEA Australasia
Asia Pacific
Eastern Europe
Western Europe
Australasia
WE
Australasia
EE
NA
Consumers to Continue to Look for Value
OPPORTUNITY ZONES AND KEY CHALLENGES
© Euromonitor International
14
0
2
4
6
8
10
12
0
1000
2000
3000
4000
5000
6000
7000
8000
% C
AG
R
US
$ M
illi
on
Absolute value growth vs. CAGR 2013-2018 selected categories
Absolute Value Growth 2013-2018 % Growth CAGR 2013-2018
Value for
money
Novel concept
Convenience
Korean wave
BB/CC Creams
Future Growth Remains in the Hands of BB Creams and Anti-agers
OPPORTUNITY ZONES AND KEY CHALLENGES
© Euromonitor International
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Sun Protection Gives Colour Cosmetics an Edge
OPPORTUNITY ZONES AND KEY CHALLENGES
Multifunctional for convenience
• BB Cream • CC Cream
Targeted for enhanced
benefit
• Anti-ageing foundations
BB/CC Creams
Coverage, hydration and sun protection
Anti-ageing foundations
Coverage, dark spots, lift and firm skin, sun protection
Cannibalisation Effect?
Regular foundations Anti-ageing foundations BB/CC Creams Anti-ageing moisturisers Sun care
© Euromonitor International
16
0%
5%
10%
15%
20%
25%
30%
35%
2009 2010 2011 2012 2013
% Y
ea
r-o
n-Y
ea
r G
ro
wth
Selected Category Growth, 2009-13
Foundation/Concealer Other Facial Make-up Anti-Agers Sun Care
Foundations Take a Slight Dip at the Expense of BB/CC…
OPPORTUNITY ZONES AND KEY CHALLENGES
Note: EM includes BB & CC cream in Other Facial Make-up, but most of Other Facial Make-up are BB and CC cream
© Euromonitor International
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…But Remain in the Lead in Terms of Overall Size
OPPORTUNITY ZONES AND KEY CHALLENGES
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
Anti-agers Foundations Sun Care Other Facial Make-up
US
$ m
illi
on
Market Sizes Anti-agers, Foundation, Sun Care and Other Facial Make-Up in 2018
© Euromonitor International
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0
1
2
3
4
5
6
7
8
9
0
2
4
6
8
10
12
14
16
18
20
% C
AG
R H
air
Ca
re 2
013
-20
18
Ab
solu
te G
row
th i
n P
er C
ap
ita
Sp
end
ing
Ha
ir C
are
U
S$
(f
ixed
ex
cha
ng
e ra
te)
Top 15 Markets Forecast Growth Hair Care vs Per Capita Spending Absolute Growth 2013-18
Per Capita Spending Hair Care Absolute Growth % CAGR Hair Care 2013-2018
Hair Care with SPF Strong Potential in New Markets
OPPORTUNITY ZONES AND KEY CHALLENGES
Global Hair
Care Forecast
CAGR at 2.4%
2013-2018
THE STATE OF THE SUN CARE MARKET
OPPORTUNITY ZONES AND KEY
CHALLENGES
FUTURE PROSPECTS
© Euromonitor International
20
Co
lou
r C
osm
etic
s
Coverage
An
ti-A
gei
ng
Lifting
Firming
Sk
in C
are
Hydration
Whitening
Sk
in C
are
Skin types
Winning Strategies in Sun Care and Beyond
FUTURE PROSPECTS
Sun Care Imports
Sun Care Exports
Skin care
Colour Cosmetics
Hair Care
Deodorants?
Wit
h
SP
F
© Euromonitor International
21
Sun care + Coverage + Anti-agers
Sun Care + Anti-agers
Sun care + Coverage + Anti-agers
New Markets Offer Varied Scope for Hybrid Sun Care Ranges
FUTURE PROSPECTS
LA
• Brazil • Mexico • Argentina
AP
• Indonesia • Thailand • Vietnam
MEA
• Saudi Arabia
THANK YOU FOR LISTENING Oru Mohiuddin, Senior Beauty and Personal Care Analyst
Nicole Tyrimou, Beauty and Personal Care Analyst
For Press Enquiries, please contact:
Chourouk Gorrab, Communications Executive
