Eleanor Dwyer12.19.16
The premium beauty and personal care sector is expected to see outstanding 7% current-term value growth in 2016, far outstripping mass beauty and personal care’s 2% projected growth.
See the chart in the slideshow above: U.S. Beauty and Personal Care Packaging Growth, 2015 - 2016
Premium gained market share from mass across categories from traditionally fashion-focused color cosmetics and fragrances to historically functionally-focused sun care, skin care and hair care.
While many Americans are still curtailing spending due to low confidence in the economy, ongoing economic recovery and low fuel prices have prompted cautiously aspirational consumers to turn to premium beauty products as a relatively affordable luxury.
This overall premiumization has boosted demand for upscale packaging, including glass packaging and specialty cosmetics containers. Sales of travel size products are particular beneficiaries of this aspirational consumption, as they provide an opportunity to buy premium products at lower absolute cost, even though the price per volume is usually higher.
See the chart in the slideshow above: U.S. Beauty and Personal Care Packaging Growth, 2015 - 2016
Premium gained market share from mass across categories from traditionally fashion-focused color cosmetics and fragrances to historically functionally-focused sun care, skin care and hair care.
While many Americans are still curtailing spending due to low confidence in the economy, ongoing economic recovery and low fuel prices have prompted cautiously aspirational consumers to turn to premium beauty products as a relatively affordable luxury.
This overall premiumization has boosted demand for upscale packaging, including glass packaging and specialty cosmetics containers. Sales of travel size products are particular beneficiaries of this aspirational consumption, as they provide an opportunity to buy premium products at lower absolute cost, even though the price per volume is usually higher.
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