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G lobal beauty maintained its growth at over 5% in 2014 de- spite the slight deceleration in two of the largest emerging markets, China and Brazil. Latin America, Mid- dle East and Africa maintained double- digit growth rates while Western Eu- rope and North America both showed stable recoveries and accelerating growth. A diversity of trends has been unfolding and fostered the rising de- mand for customisation, particularly in skin care, hair care, and colour cosmet- ics. Skin care product developments inspired by Asian Pacific beauty con- cepts, formats and textures (‘Asianifi- cation’, so called) are expected to boost sales further. In developed mar- kets niche categories and exclusive product ranges continue to generate growth, and the acquisition of strongly performing labels is a strategic priority for leading beauty players. The global beauty industry is rapidly accommo- dating digital developments across all categories, and companies are increas- ingly investing in a strong online pres- ence and brand image, analysing con- sumer habits, driving innovation and striving to offer a competitive pricing platform. Digital strategies serve all as- pects of beauty operations and have to be aligned to all trends. The evolving trend of customisation Although customisation is not a surprisingly new trend in global beau- ty, it has been fast evolving and con- stantly raising the bar for marketers. Consumers’ demand for tailored solu- tions varies across regions and cate- gories and is developing (with power- ful encouragement from digital tech- nology) into individualisation. While for example natural, skin-friendly in- gredients, anti-pollution and scented beauty products are seeing heightened demand in Asia, Europe and North America, consumers are growing more focused on cross-category alignments, multiple benefits and exclusive 24 COSSMA 5I2015 MARKETING PRODUCT DEVELOPMENT Product develop- ments inspired by Asian beauty concepts are ex- pected to boost sales further The popularity of face masks is also rapidly expanding beyond Asia photo:Puhhha,Shutterstock.com photo:NikitaErgaliev,Shutterstock.com brands. In addition to regional customisation, individual con- cerns and values are being ad- dressed, which includes the growing segmen- tation of port- folios and more targeted market- ing activities. Asianification – Asian beauty concepts The Asianification trend is expected to grow stronger and deliver more product concepts from the region into international markets. These include innovations based on product formats, textures and benefits. One of the most recent examples of a concept brought in from Asia Pacific is Neutrogena Hydro Boost, consisting of skin care ranges aiming to lock in moisture and draw water into the skin. Asianification is also being seen in categories beyond skin care. As an ex- ample, air cushion foundation formats combine lightweight texture with make-up coverage and have been growing in popularity in the region since AmorePacific’s launch of IOPE Air Cushion back in 2012. The recent launch of Lancôme Miracle Cushion, which has adopted the air cushion technology, is expected to repeat the Ī The growth pillars supporting the acceler- ating performance of global beauty include skin care product developments inspired by Asian Pacific beauty concepts and a rising demand for customisation. Niche categories and exclusive product ranges also continue to generate growth. Global beauty Key growth-driving trends COS1505_24_Euromonitor_COS1406_22_Imogen_D 27.04.15 07:22 Seite 24 COS1505_24_Euromonitor_COS1406_22_Imogen_D 27.04.1507:22 Seite 24