Premium Beauty Outpaced Rest Of Market Worldwide, Euromonitor Report Shows

In 2015, the world beauty market’s premium segment grew 6 percent to almost reach $100 billion, according to Euromonitor International. Data from the market research firm’s Beauty and Personal Care 2016 report showed discretionary categories, color cosmetics, fragrances, and skin care, pushed the premium segment’s growth, outpacing the rest of the market. North America led growth in the segment, with premium color cosmetics and fragrances growing 12.9 percent and 4.5 percent, respectively in 2015, compared with 2014. Segment leader Estee Lauder’s sales grew 7.4 percent in the US, boosted by its MAC brand, and fast-growing Smashbox and Bobbi Brown. Global skincare’s growth slowed down in 2015, but demand stayed strong at 4.6 percent. After slowing down in previous years, premium skincare grew faster at 4.7 percent