Although the cosmetics market in the UK is mature and quite saturated, it is nonetheless dynamic. The inhabitants have a high purchasing power (GDP estimated at $42,379 per person) and are big consumers of beauty products. This is why Business France’s Team France Export has identified the United Kingdom as a priority in the list of the most favorable countries for the establishment of French brands. Here are its specificities.
“With a total turnover of EUR 14.5 billion in 2020, the UK is one of the leading cosmetics markets in Europe, along with France and Germany,” explains Business France. However, the Covid-19 pandemic has seriously impacted the British beauty industry.
As in many other countries, so-called social products have been the most affected (-22.7% of make-up sales, -17% of perfume sales). Hygiene products, on the other hand, were favored by the general public (+26.2%).
According to predictions, the British cosmetics industry should return to positive overall growth in the next two years.
The health crisis has also contributed to the growth of e-commerce, which now appears as a key distribution channel (18.7% market share).
What about the Brexit? According to Business France, “the UK’s exit from the European Union has had a weaker impact on the market than the pandemic. Professionals have prepared themselves to minimize disruptions as much as possible. With the withdrawal of certain players, there are opportunities to be seized from importers and buyers, who are still listening and looking for new brands wishing to make a long-term investment in the UK.”
Market characteristics
Big companies are vying for the public’s favor. L’Oreal leads with a 10.1% …
