Global market research company Euromonitor International predicts negative sales in the global beauty market in 2020, due to the impact of COVID-19, with the premium segment witnessing the sharpest declines.
Yet, according to the webinar ‘Health and Beauty in the Coronavirus Era’, the global health crisis has accelerated the wellness movement and all related micro-trends, as consumers have shifted their attitudes and consumption habits towards products and services focusing on health, ‘clean’ propositions and emotional well-being. Demand for immunity and prevention drives sales growth of immunity-positioned supplements by 14% in 2020.
Irina Barbalova, global head of health and beauty, at Euromonitor International comments, “health and beauty continue to merge as ‘wellness beauty’, benefiting not only high-priority hygiene essentials, such as hand soap and sanitisers, but also the ‘clean to conscious’ movement in which safety, sustainable sourcing and ingredient transparency will be even more sought after”.
In 2020, 65 per cent of global consumers consider mental wellbeing as...............................................................
The article is property of Euromonitor International, a market research provider, and can be read in full here.
