PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1468710
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1468710
Key Highlights
The Germany beauty and personal care products market generated a value of USD 20.6 billion in 2023, which will increase to USD 22.7 billion, advancing at more than 1.2% CAGR, by 2030.
Personal care and cosmetics goods can be bought easily at specialty stores, online channels, and beauty salons and pharmacies. This easy availability aids toward the increase in product sales and the consumer base that companies can tap.
A robust growth opportunity is expected because male customers are increasing their emphasis on grooming and skincare to improve their physical appearance and take proper care of their skin.
Increasing e-commerce sales is a key factor boosting the growth of the industry.
The beauty sector constantly delivers new products ranging from AI-incorporated professional-use devices and hyper-tailored skincare to clean-label and at-home beauty products.
Beauty retailers constantly try to improve the shopping experience of consumers; therefore, many have introduced mobile applications with AR/VR technologies.
E-commerce platforms have enhanced the beauty sector over the last few years. In Germany, there were 67 million active internet users in 2022, which include approximately 88% of the women and 94% of the men in the entire nation.
As e-commerce platforms offer large discounts and many exclusive offers, customers favor shopping online for branded beauty products.
Key Insights
The skincare category was the largest contributor to the industry, with a 30% share in 2023, and it will continue this trend throughout this decade.
This is mainly ascribed to the increasing millennial populace in the workforce, coupled with the rising need for these goods in the fashion and entertainment sector.
The baby and childcare category was a significant contributor as it delivers products designed for the safety of children's sensitive skin and to keep children hygienic and healthy.
The category comprises body oils, lotions, sunscreens, and powders for children and babies.
The haircare category will propel at a significant compound annual growth rate during this decade. Some regularly utilized products for haircare are conditioners, shampoos, hair masks, hair color, and styling products.
The hairstyle, as well as condition, are now considered a key area for the complete appearance, as a result, both women and men often utilize these products.
The home delivery category accounted for the leading share of the industry, and it will further advance at a 2.4% CAGR in the years to come.
This mode of purchase offers various purchasing choices with many offers and different modes of online payment, which results in immense convenience for consumers.
An extensive range of products, cashback on online payments, and specific discounts on new products are some of the main conveniences of online platforms driving the expansion of the category in this nation.
This Germany beauty and personal care products industry is very competitive, with companies largely funding for R&D to develop novel products.
Businesses claim many of them to be natural, sustainable, and organic, to enhance their penetration at both brick-and-mortar stores and online channels.
Many product launches have been due to the acquisition of emerging and small firms by the major players.