Market overview: At a glance
What's in this report?
Top 5 trends:
5. Vitamin C
Global Top 5 Skin Care Markets, 2017
Source: Euromonitor International
Key market challenges addressed
The recipe for success has changed in skin care. Sales among the top ten classic prestige players are flat, and instead, the growth in Europe is coming from challenger brands. These smaller, often independent labels grew by 7% in 2017 according to The NPD Group.
In anti-ageing skin care, classic prestige brands rose by 3% in Europe last year – but even in this segment, challengers grew twice as fast.
So why are indie skin care disruptors such as The Ordinary, Glossier, Tata Harper, Beauty Pie and Drunk Elephant winning, and what can traditional brands do about it?
In the past, most communication about a brand and products came solely from the brand themselves,” says Nicola Kilner, Co-CEO of Deciem. Now consumers seek and access information themselves from many independent sources and this leads them to demand answers from brands.
This movement has also made it easier than ever for indie brands to start and become loved.
Indie skin care brands are succeeding because they make it their purpose to deliver answers. This includes an upfront approach and total transparency over ingredients and pricing.
Chrissy Hilton-Gee, Associate Trend Manager at Trendstop.com, adds: "Challenger brands are championing a more mindful approach to skin care by hybridising products to offer the most high impact and efficient solutions."
So how can traditional skin care brands win back consumers? Mathilde Lion, Beauty Europe Industry Expert at The NPD Group, says: "Classic skin care brands need to embrace trends in terms of communication, ingredients and textures and provide answers to growing trends like anti-pollution and customisation. Even if some are already doing this, they have to now justify their price."
Europe: Prestige skin care markets
Year ended November 2017. Source: The NPD Group