Page 28 - HPIC-Magazine (Feb-2021)

Cover Story

including commodity brands, and by utilizing touchless formats and On a positive note, a report by
focusing on the personal hygiene offer extended shelf-life to consumers McKinsey, a consultancy, notes that
and cleansing are expected to be rationing supplies and/or unable to the global beauty market is set to
driving parameters for the increase obtain alternatives will stand out as return to – and even surpass – 2019
in demand for ingredients such as being safe and dependable. Brands levels in 2021, once again proving
antimicrobials, surfactants, emollient, that demonstrate their dependabi- that it is more resilient than fashion,
emulsifiers, thickeners, anti-oxi- lity, transparency and willingness to which is not expected to recover
dants, and humectants(5). take action to ensure product safety until 2022 at the earliest. But, like
will be rewarded by consumers. fashion, the beauty market that returns
Impact on packaging will reflect a changed landscape
As consumers become more aware End-notes across regions, categories and chan-
about viruses and germs living on The COVID-19 outbreak has driven nels(6).
surfaces, beauty and personal care significant loss in value for the
(BPC) products packaged in ways beauty market in 2020 as the lockdown Fragrance and colour cosmetics
that eliminate the need to touch period has not only limited retail faced steep declines in 2020, but
one’s face will stand out. Spray and sales, but has also affected usage beauty demand overall remains
stick formats in both cosmetics and habits. strong as consumers turn to the “self-
facial skincare have been increasing care” categories of skincare, haircare
in popularity, and with the arrival of The outbreak of coronavirus has and personal care – all of which face
COVID-19, “touchless” beauty pro- affected the personal care industry, less disruption from new COVID-19
ducts will see increased demand. Con- directly impacting the personal care routines and lend themselves well
sumers will look to brands for guid- ingredients market. The decline is to digital discovery and purchase.
ance on how to keep their cosmetics mainly due to the lockdown imposed
clean and safe. In addition, while by countries to follow social distanc- Brands and retailers are respond-
much attention is placed on the im- ing norms. The economic slowdown ing to the “new normal” in their
portance of cleaning makeup brushes across the globe is also driving the product and channel strategies, with
and skincare devices, brands can disruption of the industry and changed successful players focused on build-
support consumers by offering tips the consumer consumption pattern. ing direct, trust-based connections
and tricks to cleanse auxiliary BPC with the beauty consumer in an
products without compromising The pandemic of COVID-19 will increasingly virtual world.
product efficacy and safety. probably have a strong acceleration
of digital transformation within the References
In Mintel’s view, the anxiety and cosmetic industry. Online sales have 1. https://www.euromonitor.com/
uncertainty caused by this pandemic exploded it is highly likely that these the-impact-of-coronavirus-on-
leads to a greater need for reliable shifts will remain for some time, beauty-and-personal-care/report
and safe BPC products. Products potentially changing the “in-person 2. https://www.mintel.com/blog/
that mitigate risks of contamination retail experience” indefinitely. beauty-market-news/covid-19-
increases-demand-for-safe-and-
Category development in beauty; % Share of retail sales 2021(1)
reliable-bpc-products
Fragrances Color 3. https://klinegroup.com/articles/
Cosmetics covid-19-beauty-ingredients-
’19-’21 CAGR, % face-a-tough-road-ahead/
Haircare 9 14
-2 Color Cosmetics 4. https://www.kantar.com/in-
15 spiration/coronavirus/beauty-
-12 Fragrances redefined-the-keys-to-post-covid-
30 +2 Haircare growth
Personal 5. https://www.coherentmarket-
32 Care +5 Skincare insights.com/covid-19-impact-
tracker/pandemic-cosmetic-
Skincare +2 Personal Care
ingredients
6. The State of Fashion, 2021, Mc-
Fig. 4: Top-gainers and losers amongst personal care ingredients Kinsey & Company.
28 Home, Personal & Institutional Care India February 2021