Australia boasts high spending and savvy consumers, setting a high bar for homegrown beauty brands and new entrants alike.
A wave of brands from the region have spread their wings beyond home shores to achieve international success, such as giants Aēsop and Bondi Sands.
More are now following in their footsteps, like MCoBeauty, Ciroa and Bouf.
Meanwhile, a number of UK and US names are heading down under to try their luck with discerning health and beauty buffs, known for their outdoor lifestyles.
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The Australian beauty and personal care market is worth an estimated €5.9bn, according to analysis by L.E.K Consulting of Euromonitor data.
While it is modest in size compared to global leaders, Australia represents a high-value market on a per capita basis, says Philippe Gorge, Partner and Head of European Health and Beauty Practice at L.E.K. Consulting.
Australian consumers spend approximately €230 per person per year across skin care, colour cosmetics, hair care, fragrances and sun care, making the country among the top spenders globally.
“Despite its smaller aggregate size, the Australian market is highly developed, with consumer behaviours aligned with premium markets,” Gorge tells Cosmetics Business.
GK Barry in front of a poster for Bouf hair care launch in the UK
“Its elevated per capita spend reflects strong consumer engagement, willingness to invest in quality and efficacy, and high awareness of skin health and environmental factors.
“Moreover, Australia's climate, dermatological culture and regulatory standard, especially around SPF and ingredient safety, make it a benchmark market for innovation, especially in sun care, skin care and hybrid wellness-beauty formats.”
The likes of Aussie brands Ultra Violette and Naked Sundays, which have both launched in the US, demonstrate the country’s expertise in the area of premium sun and skin care – especially 'skinscreens' and hybrid SPF formats, such as glow drops, mineral sticks and daily moisturisers with SPF 50-plus.
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