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GCC.euMarketsWatch

Voice of the IndustryAfter the COVID-19 virus outbreak was declared a pandemic by the World Health

Organization, the steps to stop the spread of the epidemic greatly affected the global

economy. The cosmetics industry, which is one of the most important sectors affected

by the slowing social life due to COVID-19, showed a sharp decline as consumers

shifted their spending to personal care.

While the cosmetics industry, which imports raw materials, intermediate goods or

final products depending on the Chinese economy, was adversely affected, many

brands produced in our country during the pandemic period gained consumer

confidence and awareness at a level that can replace import products.

Turkish cosmetics industry, which draws attention with its dynamic, high-capacity

and flexible production, and its strong structure that can turn crises into

opportunities and adapt quickly, in 2019, the export size of the cosmetics industry in

the world was approximately 163.7 billion dollars, while the export size of the sector

in Turkey was 1.19 billion dollars. . In 2020, the total exports of the cosmetics industry

amounted to 1 billion 362 million dollars. This figure means the highest export the

industry has ever seen. In 2020, there was an increase of 14.96 percent in exports

compared to 2019. Manufacturing and exports of the cosmetics industry increased

every month in 2020, except for the months of April and May, when the closures were

intense due to the pandemic.

Compared to the foreign exchange-based costs of imported products, our products in

the domestic market were preferred because they were financially viable.

At this point, there is no problem in production capacity, but there is a need for some

important breakthroughs in order to produce imported raw materials in our country.

This is the most important point we have to look at lately. For this reason, it is

necessary to develop the production structure with bilateral agreements. With the

Global Cosmetics Cluster Europe Project, it is important that our companies operating

in the cosmetics sector have the opportunity to develop bilateral cooperation in

target markets and become stakeholders in a common internationalization strategy.

M. İMER ÖZERVICE PRESIDENTİKMİB BOARD OF DIRECTORS

SpecialFocus

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MarketData

WORLD MARKET FORBEAUTY AND PERSONAL

CARE (PART 1)

TARGET MARKETS NEWS ONBUSINESS, INNOVATION,

TRENDS, REGULATORY & RETAIL

COLOUR COSMETICSMARKET DATA ON

TARGET COUNTRIES

FIND SERVICES & ACTIVITIESTO ENHANCE YOUR

INTERNATIONALISATION

Special FocusWORLD MARKET FOR BEAUTY AND PERSONAL CARE (PART 1)

World Market for Beauty and Personal Care (Part 1)

Beauty and personal care sales declined in 2020, with major losses in Western Europe and North America.

Colour cosmetics and fragrances were the main casualties, while raised hygiene standards made bath and

shower the clear winner. The post-COVID-19 era will centre on survival of the fittest and adapting to beauty’s

“new normal”, with sustainability-focused and digitally-savvy brands likely to thrive, as well as those that offer

affordable, clinically-backed and wellness-orientated solutions.

SOURCE: EUROMONITOR INTERNATIONAL

Global beauty and personal care sales decl ined by 3%

in 2020, fol lowing a 2% r ise in 2019.

Western Europe and Asia Pacif ic each accounted for

25% of the decl ine in absolute value terms in 2020,

while North America accounted for 20%. Asia Pacif ic

was, however, the f i rst region to enter the recovery

phase and is expected to see the fastest growth

global ly in 2021. In contrast , some markets in Western

Europe and North America struggled with lockdowns in

2020 and 2021, which wi l l prolong recovery in the

forecast period.

The global beauty and personal care market is

expected to rebound in 2021, with growth of 3%, dr iven

largely by Asia Pacif ic .

2020 DECLINE UNPARALLELED, BUT NOT EXPECTED TO HAMPER LONG-TERM GROWTH

Global Outlook

SKIN CARE IS THE LARGEST CATEGORY IN MOST REGIONS

WESTERN EUROPE AND ASIA PACIFIC REGISTER LARGEST ABSOLUTE VALUE LOSSES

In 2020, beauty and personal care

registered a USD16.5 billion loss, owing to

the impact of COVID-19. All regions

registered declines, with Latin America and

Eastern Europe seeing the fastest falls.

Bath and shower was a clear winner across

all regions, due to unprecedented growth

in hand sanitisers and liquid soap, gaining

USD5.9 billion globally, with the fastest

growth in Western Europe, Australasia and

North America.

Colour cosmetics declined in every region.

In absolute terms, North America and Asia

Pacific registered the greatest losses of

USD3.7 billion and USD3.6 billion,

respectively.

Fragrances’ declines were not as steep as

colour cosmetics, and were most

pronounced in the Middle East and Africa

and Western Europe.

BESIDES BATH AND SHOWER, ORAL CARE AMONG CATEGORIES THAT POSTED GAINS

Oral care registered the second highest gains in 2020, behind

bath and shower, driven by Asia Pacific (46% of gains in 2020)

and North America (24%). Toothpaste accounted for 50% of

global gains in 2020, followed by mouthwashes/dental rinses

(46%) and electric toothbrushes (25%). Consumer demand for

antiseptic properties, increased time spent at home, and

ramped-up self-care routines contributed to oral care gains,

which were felt in all regions except Western Europe.

Hair care gains were largest in Australasia and the Middle East

and Africa. Consumer demand for conditioners and treatments

surged in Australasia, while standard shampoos, followed by

conditioners and treatments, led gains in the Middle East and

Africa. This is a direct result of consumers focusing on self-care

and having more time to include hair masks, serums, and

treatments from both mass and premium brands in their hair

regimes. The shift towards more treatments in hair care is likely

to continue into 2021, as consumers invest in self-care.

Skin care’s gains in Latin America bode well for the forecast

period. E-commerce, followed by direct sellers and

drugstores/parapharmacies, saw the largest gains in channel

share in skin care in Latin America in 2020.

Skin care was often heralded as “resilient” in 2020.

The largest category globally in 2020, it out-

performed expectations, despite a slump in

premium skin care. Its absolute value losses were

much smaller than in colour cosmetics. Skin care’s

2021 growth will outpace all other categories,

driven by Asia Pacific, in particular.

Social-facing categories struggled, particularly

colour cosmetics (driven by lip products and facial

make-up). Fragrances also struggled in 2020,

particularly in the largest market, Western Europe,

which accounted for over a third of global value

losses in 2020. Positive growth is not expected there

until 2022, due to the lengthy recovery from

lockdowns in H1 2021. Fragrances are forecast to

grow by 2% globally in 2021, again bolstered by Asia

Pacific.

SKIN CARE DECLINED SLIGHTLY IN 2020, BUT HEALTHY REBOUND EXPECTED IN 2021

SKIN CARE CONTINUES TO BE ASIA PACIFIC’S KEY DRIVER, ESPECIALLY FACIAL CARE

Skin care is expected to outpace total beauty and personal

care growth over 2020-2025 in every Asia Pacific market

except South Korea and Taiwan. All categories of mass and

premium skin care are expected to register growth, with

the largest opportunities being in premium anti-agers and

premium basic moisturisers.

Japan recorded a USD4.5 billion decline in beauty and

personal care in 2020, driven by skin care and colour

cosmetics. It is forecast to recover, but more slowly than

many other regional markets. The USD1.6 billion decline in

Hong Kong, China in 2020 is expected to be followed by

substantial growth over the forecast period, especially in

colour cosmetics and fragrances, due to the return of travel

retail and a return to a degree of political stability.

Asia Pacific recorded a 4% CAGR in colour cosmetics over

2015-2020, and was one of only two regions to see growth.

Growth in Asia Pacific in 2019 was strong, at 10%, and this

momentum pre-pandemic helped offset a 15% decline in

2020. The category is forecast to recover strongly over

2020-2025, with a 9% CAGR, with double-digit growth in

Hong Kong, China, the Philippines and China.

Fragrances were significantly impacted by slumping demand from reduced social

outings, registering an 11% decline in 2020. The category faced further steep

declines in early 2021 as lockdowns continued or were re-imposed.

The most optimistic outlook is in Asia Pacific, which represented 11% of the

global fragrances market in 2020 but will grow to a 16% share by 2025. The

largest gains will come from China, propelled by premium fragrances, which grew

by 12% in 2020, despite a challenging environment. Chinese consumers used

premium fragrances to provide emotional reassurance in 2020, but usage will

remain strong over 2020-2025, due to aspirational consumer purchasing patterns

and growth in unisex brands.

The largest region, Western Europe, which accounted for 28% of the global

fragrances market in 2020, is expected to struggle in 2021, even as other regions

see positive growth. These products are not seen as an essential item but rather a

luxury. Also, 2021 lockdown measures served to delay recovery for the category.

Three of the 10 markets expected to see the largest gains in 2021 are in Latin

America, while China’s 2021 gains in premium fragrances will dwarf those in

other markets.

China is forecast the largest absolute growth in

beauty and personal care over 2020-2025,

followed by Japan and Indonesia.

India saw sales decline slightly in 2019, followed

by a further fall in 2020, as consumers traded

down in all categories owing to greater price

consciousness. The industry’s recovery will

hinge on vaccination distribution and overall

economic recovery.

Sales in South Korea in 2020 were sustained by

the personal care categories of bath and shower

and oral care, which helped partially offset

declines in skin care and colour cosmetics.

Innovations in microbiome and dermocosmetics

will drive 2021 performance, but the absence of

tourists will hurt skin care and colour cosmetics.

CHINA’S GAINS OVER 2020-2025 GENERATED MAINLY BY SKIN CARE

FOLLOWING DECLINE IN 2019, FRAGRANCES TO SEE A GLOBALREBOUND IN 2021

Pre-pandemic, beauty specialist retailers

benefited from providing an assortment of

D2C brands, fast-growing premium brands,

services and a “clean” positioning, but the

channel suffered from store closures in

2020. Channel sales declined by 23%

globally, after 1% growth in 2019. The

channel is, however, predicted to grow by

11% in 2021, with the strongest growth

expected in Western Europe. Beauty

specialist retailers quickly adopted digital

strategies in 2020, such as in-store/kerbside

pick-up, online exclusives and micro

payments. Its performance in 2021 will

largely hinge on consumers’ disposable

incomes amid rising costs of goods and

food, lockdowns and vaccine distribution.

The rapid growth of e-commerce in every market, region and category dominated the beauty retailing narrative in 2020.

The e-commerce acceleration that was predicted to take course over 5-10 years occurred in one year, through beauty

brand, retailer and consumer adoption of strategies like click-and-collect, hyperlocal delivery services and subscription

services. While 2021 e-commerce growth is unlikely to exceed the unprecedented 2020 levels (although there will be

exceptions), beauty players should be attentive to e-commerce’s penetration as a share of sales, which can help shed

light on the best prospects for beauty tech (eg colour cosmetics in North America), identify under-developed categories

in e-commerce (eg deodorants and depilatories in general, which have the lowest penetration among categories in Asia

Pacific, North America and Western Europe), and areas where growth has the potential to weaken significantly.

BEAUTY SPECIALIST RETAILERS ABRUPTLY PIVOT FROM STRONG HISTORIC GROWTH

E-COMMERCE EXPECTED TO RIDE 2020 MOMENTUM ACROSS REGIONS/CATEGORIES

Across mass channels, like supermarkets, hypermarkets and mass merchandisers, a varied beauty product

assortment that spans multiple tiers within mass beauty contributed to growth in 2020. Skin care, oral care

and, especially, bath and shower contributed the largest gains in these mass channels, driven by changing

consumption patterns that favoured one-stop shopping and the prioritisation of essentials.

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TARGET MARKETS NEWS ON

BUSINESS, INNOVATION,

TRENDS, REGULATORY & RETAIL

I N D I A - U A E - M E X I C O

S O U T H K O R E A - U S A

B U S I N E S S - I N N O V A T I O N

T R E N D S - L E G A L - R E T A I L

M A R K E T S T O P I C S

Latest NewsTARGET MARKETS NEWS ON BUSINESS,

INNOVATION, TRENDS, LEGAL & RETAIL

I N D I A

India’s beauty and skincare brands are adding Al technology to their arsenals to gain an edge

in the premium market.

WHAT’S AI DOING IN MAKE-UP?

Source & more information

Compared to other major markets, more Indians experienced changes in shopping pattern,

and are more likely to support local businesses and sustainable products, a global survey

shows.

4 WAYS IN WHICH COVID-19 CHANGED INDIAN SHOPPING HABITS

Nykaa plans to go public later this fiscal at a valuation of $4.5 billion, a sharp rise from its

earlier valuation of more than $3 billion, as the beauty retailing startup gains from a marked

shift towards online sales during the pandemic.

I N D I A N C O S M E T I C S R E T A I L E R N Y K A A L O O K S T O L I S T A T $ 4 . 5 B V A L U A T I O N

I N D I A - U S A - M E X I C O

S O U T H K O R E A - U A E

Sephora, one of the world's largest beauty products chains and owned by LVMH, has

accelerated its e-commerce strategy in Latin America with the launch in Mexico and Brazil of a

completely redesigned e-commerce platform to provide the best customer experience.

S E P H O R A R E D E S I G N S I T S E - C O M M E R C E I N M E X I C O A N D B R A Z I L

The most important actions to be implemented include the opening of a Canipec Collection

Center, as well as the gradual placement of easy-to-handle containers at various points of sale.

G E M A N D C A N I P E C S I G N A N A G R E E M E N T F O R T H E C I R C U L A R E C O N O M Y

A N D P O S T - C O N S U M E R W A S T E M A N A G E M E N T

The cosmetics industry in Mexico could have a year of recovery, because by 2021 the National

Chamber of the Cosmetic Products Industry (Canipec) anticipated that they could close with a

10% growth in sales, adding 200 billion pesos, compared to the 4.5% annual drop in sales they

recorded in 2020.

T H E C O S M E T I C S I N D U S T R Y E X P E C T S T O C L O S E W I T H A 1 0 % R I S E I N 2 0 2 1

S O U T H K O R E A

South Korea’s combined exports of cosmetics products increased 16.1 percent to 8.28 trillion

won ($7.28 billion) in 2020, ranking third in the world, following France and the US.

S . K O R E A ' S E X P O R T S O F C O S M E T I C S P R O D U C T S R A N K E D T H I R D I N T H E

W O R L D L A S T Y E A R

M E X I C O

CEO Uotani adapts to changing customer preferences amid COVID pandemic

S H I S E I D O B E T S O N L U X U R Y S K I N C A R E A N D C H I N A ' S F I C K L E C O N S U M E R S

The unwavering appetite for niche perfumes and brand mastery of digital communication are

some of the reasons why we can expect more niche fine fragrance brands from Asia vying for

the international spotlight.

F R O M A S I A T O T H E W O R L D : W H Y T H E N E X T W A V E O F N I C H E F I N E

F R A G R A N C E B R A N D S W I L L C O M E F R O M A S I A

I N D I A - U S A - M E X I C O

S O U T H K O R E A - U A E

How screening technology can keep your cosmetics company ahead of the trend

U N D E R S T A N D I N G I N G R E D I E N T P O L I C I E S

Cosmetology workers are reassessing their jobs, including the chemicals they’re exposed to.

S A L O N W O R K E R S A R E H O L D I N G O N T O T H E I R M A S K S , A N D N O T J U S T

B E C A U S E O F C O V I D - 1 9

The fabric protector comes at a time of greater push for inclusivity in the industry

D U B A I R E S I D E N T L A U N C H E S F I R S T - O F - I T S - K I N D B E A U T Y T O O L F O R H I J A B I S

Calls are mounting for Canada and the United States to ban a toxic industrial chemical compound

that can contaminate water systems for generations after a study revealed it was found in more

than half of all cosmetics sold throughout North America.

H E R E ’ S W H A T W E K N O W A B O U T P F A S , T H E T O X I C C H E M I C A L F O U N D I N

C A N A D A A N D U . S . C O S M E T I C S

Includes 10 beauty essentials to keep skin glowing during the Muslim Holy Month.

H U D A B E A U T Y L A U N C H E S 1 0 0 1 N I G H T S R A M A D A N K I T

The UAE’s start-up ecosystem, acclaimed to be among the world’s most sought-after, received a

major fillip on Monday with the launch of a spate of game-changing initiatives, including a “Skill-

up Academy” and a “Scale-up Platform”.

U A E B O O S T S S T A R T - U P E C O S Y S T E M

Market DataSPECIFIC CATEGORIES OF BEAUTY & PERSONAL CARE

ANALYSED AND COMPARED IN OUR TARGET COUNTRIES

Market Data

Retail Value

Sales Performance

Sales by Categories

SPECIFIC CATEGORIES OF BEAUTY & PERSONAL CARE

ANALYSED AND COMPARED IN OUR TARGET COUNTRIES

Claims most used

Distribution Chanels

Brands Shares

CategoryAbstract

ConsumerObserver

COLOURCOSMETICS

IN THIS EDITION

UAE Mexico India

S. Korea USA

In this section of the newsletter a quantitative analysis of each of our target markets for a specific

category can be found.

Each edition of the newsletter will focus on a different category and will analyse the performance of

these markets from two different perspectives.

On the one hand we will focus on the category itself with the "Category Abstract" in which you will be

able to analyse the size of the market, the sales performance both overall and by subcategories.

On the other hand, we will have the "Consumer Observer" where we will have a point of view closer to

retail with data such as the most used Claims, the distribution channels and their evolution and the

distribution of the market by brands.

CategoryAbstract

ConsumerObserver

CLAIMS MOST USED IN THIS MARKET

2020 - TOTAL SKUS: 248.785

IN THIS EDITION

COLOUR COSMETICS

Mexico

CategoryAbstract

ConsumerObserver

2020 - TOTAL SKUS: 123.866

IN THIS EDITION

COLOUR COSMETICS

S. Korea

CategoryAbstract

ConsumerObserver

2020 - TOTAL SKUS: 880.381

IN THIS EDITION

COLOUR COSMETICS

CategoryAbstract

ConsumerObserver

2020 - TOTAL SKUS: 277.644

IN THIS EDITION

COLOUR COSMETICS

CategoryAbstract

ConsumerObserver

CLAIMS MOST USED IN THIS MARKET2020 - TOTAL SKUS: 419.958

IN THIS EDITION

COLOUR COSMETICS

Go InternationalFIND SERVICES & ACTIVITIES TO ENHANCE

YOUR INTERNATIONALISATION

In the framework of the Global Cosmetics Cluster - Europe, SME will have available an Acceleration

Programme that integrates several sets of supporting activities that allows promising companies

not to only access but also boost and maximize this access to international markets and

development.

Targeting in priority the 5 selected countries, South Korea, Mexico, Emirates, USA and India, the

project will offer 4 areas of supporting activities:

Go InternationalFIND SERVICES & ACTIVITIES TO ENHANCE

YOUR INTERNATIONALISATION

Acceleration Programfor SMEs internationalisation

T A K E P A R T O F T H E

A C C E L E R A T I O N P R O G R A M

S T A Y T U N E D A N D F O L L O W U S O N S O C I A L N E T W O R K S

C O N T A C T Y O U R C L U S T E R F O R M O R E A C T I V I T I E S

G L O B A L C O S M E T I C S C L U S T E R - E U R O P E P R O V I D E T H I S

A C C E L E R A T O R P R O G R A M T O S M E S T O W A R D F O R E I G N M A R K E T S A S

S O U T H K O R E A , U S A , U N I T E D A R A B E M I R A T E S , I N D I A , A N D M E X I C O .

W W W . G L O B A L C O S M E T I C S C L U S T E R . E U

L A T E S T N E W S A N D M A R K E T I N T E L L I G E N C E O N T H E

T A R G E T C O U N T R I E S F O R T H E G C C . E U N E T W O R K

I N D I A - M E X I C O - S O U T H K O R E A - U A E - U S A

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