EXCLUSIVE: Euromonitor Investigates the State of Beauty

PARIS – The beauty business is on fire. “The global beauty and personal care market grew by 6 percent [in 2018] on the previous year, which was actually the most dynamic growth recorded in the last decade,” Hannah Symons, global head of beauty research at Euromonitor International, told WWD in an exclusive interview prior to the market research provider’s webinar today, titled “State of Beauty: Trends Shaping the Industry in 2019.” Last year, the beauty business’ sales worldwide reached $488.3 billion, according to Euromonitor. “These results reflect the resurgence in Latin America, [and] of course Asia’s extremely strong,” the executive continued. Asia today accounts for one-third of the global industry’s value, and looking to 2023, Euromonitor forecasts China alone will contribute more sales than North America and Latin America combined. The premium segment has been outpacing mass-market beauty for many years, but in 2018, the latter improved its performance in all regions except Eastern Europe. Mass, said Symons, “picked up its performance on the previous few years and actually closed that growth gap a little.” In North America, mass doubled its gains in 2018 versus 2017. “In Western Europe, for the first time since 2012, premium and mass grew almost alongside one another,” said the

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