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REPOR T

CoST VS QUALITY: A fINE bALANCE

In Europe as a whole, cost sensitivities are present but
balanced with key values such as health and wellbeing, as well
as environmental concerns. A heightened demand for quality
in the composition of products prevails, with visible markers of
this deemed highly important. The use of natural and organic
products continues to grow in Europe, as consumers become
increasingly aware of their carbon footprint, environmental
impact and the health qualities that can be found in natural
and active ingredients. The European consumer is ingredient
savvy and is happy to research prior to purchasing a product.
A no nasties policy should be adopted by all brands looking
to penetrate the European market.

The younger generation is set to continue
demonstrating heightened attention to the interrelationship
between their products and the environment.
Gen Z, described as the first generation to grow up
with internet and portable digital technology,
brands must focus on their digital and online presence
when targeting this consumer. Novel digital or hybrid
means of experiencing products, commercialising and
marketing products and selling products are emerging.
This is presenting opportunities for newer and
smaller brands to infiltrate markets and gain visibility.
Europe is made up of 44 countries - 30 of these are
part of the EEA (European Economic Area) which
allows free movement of goods, capital, services
gEN Z AND EURoPE’S and people between member states.
AgEINg PoPULATIoN This free movement of goods makes Europe very

It’s important to note that Europe benefits from a duality in attractive for brands looking to service new markets.
demographic profile where we see the presence of an ageing Of course, cross-cutting trends in the European beauty
population situated alongside a younger vocal generation. industry can be identified. However, at the same time
Given this, segments such as skincare remain prominent, it’s important to both acknowledge and understand the
whilst there is significant drive towards sustainability. nuances and contextual variability between countries.

EURoPE: A QUICK ToUR bY CoUNTRY

fRANCE
Revenue in the Beauty & Personal Care market in France is
projected to amount to US$17.29bn in 2024 and is expected
that the market will experience an annual growth rate of
0.98% (CAGR 2024-2028).

France is the 8th largest cosmetics market in the world,
with 23% of the market share. France is, without a doubt,
the forerunner in the world of beauty and are pioneers in

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