10.17.24
Makeup remains the largest category in the prestige market as year-over-year sales grew by 5%. The lip segment continued to lead, with double-digit growth led by lip balms and oils.
Through June, prestige skincare sales increased by 7%, and it’s the fastest-growing category based on units sold. Body is the fastest-growing segment of the skincare market, with body spray sales growing triple-digits and large volume segments like creams, lotions, and cleaners adding double-digit growth.
Hair product sales in the prestige market increased by 10%, with styling and treatments the fastest-growing areas of the category. Premiumization continues to drive growth, with the majority of sales made online.
“An accelerated bifurcation is emerging in the beauty industry highlighted by the continued strong growth in prestige in relation to the mass market,” said Larissa Jensen, global beauty industry advisor at Circana—and a member of Beauty Packaging’s Board of Advisors. “Within prestige, drivers of growth point to a similar pattern, indicative of a consumer who is seeking elevated value. Optimizing these opportunities will vary as consumers’ approach to beauty spending differs by demographic—from attitudes and usage, to purchase influencers and shopping preferences.”
More info: BeautyPackaging.com
Through June, prestige skincare sales increased by 7%, and it’s the fastest-growing category based on units sold. Body is the fastest-growing segment of the skincare market, with body spray sales growing triple-digits and large volume segments like creams, lotions, and cleaners adding double-digit growth.
Hair product sales in the prestige market increased by 10%, with styling and treatments the fastest-growing areas of the category. Premiumization continues to drive growth, with the majority of sales made online.
“An accelerated bifurcation is emerging in the beauty industry highlighted by the continued strong growth in prestige in relation to the mass market,” said Larissa Jensen, global beauty industry advisor at Circana—and a member of Beauty Packaging’s Board of Advisors. “Within prestige, drivers of growth point to a similar pattern, indicative of a consumer who is seeking elevated value. Optimizing these opportunities will vary as consumers’ approach to beauty spending differs by demographic—from attitudes and usage, to purchase influencers and shopping preferences.”
More info: BeautyPackaging.com
