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REPOR T

supply chain is predicted to move people to downgrading Department stores and apparel specialist retailers
to mass products. Distribution remains a mix of better are dominated by international mass and premium
established mechanisms and e-commerce with innovation brands across all categories.
surrounding the use of technologies.

UNITED KINgDoM
The revenue in the Beauty & Personal Care market in the
United Kingdom is projected to reach US$16.85bn in 2024 and
is expected to grow annually by 2.29% (CAGR 2024-2028).
The UK ranks 8th in global sales of beauty products and
therefore is a very attractive market for brands to enter.
The UK consumer is preoccupied with a concern for
sustainability and has a heightened awareness of mental
well-being. The rising cost of living means that consumers
are trading down from premium products to cheaper price
points and looking for more holistic ways to manage their
beauty regimes. Ecommerce is growing rapidly and is allowing
for smaller, less known brands to penetrate into this market,
a way of increasing their visibility with small investment. For
new brands entering the UK, it is imperative that products
comply with the UK regulatory legislation, a new directive that
was introduced post Brexit. The UK beauty and personal care
market is experiencing a demand for clean and sustainable NoRwAY
beauty products and to further interact with brands prior to In Norway, the Beauty & Personal Care market is projected
purchase, meaning that online sales are growing, with 27.2% to generate a revenue of US$1,570.00m by 2024 and this
of sales predicted to be completed online by the end of 2024. market is expected to experience an annual growth rate
Consumers look for positive reviews, active marketing and of 1.87% (CAGR 2024-2028). The Norwegian consumer has
strong USPs so that brands that can satisfy the calls of the UK a relatively high disposable income which allows for price
consumer will do well in this market. insensitivity to some extent. However, the consumer still
demands quality and will price compare before purchasing.
The consumer is led by appearance and wellbeing and
for this reason, within the Norwegian market, natural,
organic and sustainable products are well-developed.
Digital innovation is gaining performance in the marketplace,
with brands who have invested in the area seeing gains from
this, with sales online growing to 29.8% by the end of 2024.

fINLAND
In Finland, the revenue in the Beauty & Personal Care market
is projected to reach US$1,502.00m by 2024.This market is
expected to grow annually by 1.64% (CAGR 2024-2028)
SwEDEN and will make up 19.9% of total revenue in Finland in 2024.
In 2024, the revenue in the Beauty & Personal Care market As of 2022, the GDP per capita in Finland is the
in Sweden amounts to US$2,482.00m and is projected 16 highest in the world. Add to that that Finland
th
to experience an annual growth rate of 3.08% (CAGR is one of the richest countries in the world, it is well known
2024-2028). The Swedish market is primarily led by large, for its well-developed welfare system. This means that
international players. The Swedish consumer is both consumers have a relatively high purchasing power but
knowledgeable and demanding in relation to beauty and brands can take advantage of the yet immature market,
personal care properties. The particulars of the Swedish finding opportunities to successfully launch into Finland.
climate is driving a need for dermocosmetics to alleviate There is a rising demand for natural and organic and the
associated skin conditions such as eczema. Finnish consumer is very open to trying a new product,
The consumer also demands sustainable and whilst remaining price conscious. Finland takes a different
organic products. Distribution in Sweden looks slightly route when it comes to sales and haircare is one of the
different to that of other European countries. strongest categories, unlike many other countries.

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