The market for home fragrances sustained its momentum in 2021 growing by a whopping 16%. For the first half of 2022, substantial growth continued in the face of inflation, product price increases, and supply chain issues, according to our recently published Home Fragrances: U.S. Market Brief. What is driving growth in this high opportunity market? A few of the key factors we observed are described below.
The emergence of independent stylists as a growth channel has opened the door for untapped revenue potential for salon hair care brands. Globally, the number of hair salons has declined almost 5% from the 2019 levels. While the door count decreased, many of the previously salon-employed stylists decided to venture into opening independent hair-related services—driving their need to build their own inventory of products for service provision and consumer resale.
The global finished lubricants market has been going through a phase of uncertainty, with a multitude of factors hampering its growth outlook. Several years ago, some countries faced a sovereign debt crisis, which cast a shadow on the global economic environment. Thereafter, the outbreak of the COVID-19 pandemic forced the world into a recession. More recently, the emerging geopolitical situation has had a cascading effect on the global economy, leading to high inflation and interest rates, simultaneously creating an uncertain trade environment. All of these events invariably have impacted the demand for finished lubricants, contributing to the inherent changes that the lubricants and basestocks market had already been witnessing—a shift toward better-quality lubricants and the increasing use of high-performance basestocks, reducing the need for lubricants. Continue reading
The pandemic had little adverse impact on the demand for most personal care products in China, keeping sales of personal care ingredients on the upswing.
After successfully adjusting to shifts in technology and formulation approaches, the lubricant additives industry is facing yet another challenge: the rapidly rising electric vehicle (EV) lubricants segment.
It was great to be back at Cosmoprof this year to visit with clients and see the industry’s newest brands and offerings. While big brands were notably absent from the show floor, there were countless new brands to discover. We saw many interesting offerings, which we grouped into the following themes:
With inflation rising 9.1% in June to its highest level in over 40 years, will beauty retail experience even bigger declines in store traffic? Kline’s analysis of U.S. foot traffic from SafeGraph proves that beauty retailers are indeed not immune to the inflationary impacts, as foot traffic was down 18% in May from April and down 14% versus year ago for tracked retailers, including Ulta, Victoria’s Secret, and Nordstrom. With brands and retailers adjusting their pricing to reflect the economy, consumers are starting to curtail their store visits. But, how are retailers adapting to retain shoppers?
India’s already high profile as a generic drug producer has been boosted by the pandemic, with growth in the market subsequently accelerating the country’s demand for pharmaceutical excipients.
The U.S. finished lubricants market rebounded from COVID-19 and experienced a strong recovery in 2021, with volumetric demand reaching 97% of the 2019 level.