Actionable Insights 2024:

Never has it been clearer that the rules of engagement in high value, fast growing beauty markets are forever changed: building consumer affinity and finding partner alignment have become the cornerstones for successful global expansion.

As homegrown brands flourish across fast growing emerging markets in makeup, fragrance and, to a lesser extent, skincare, they leverage their inherent upper hand in building consumer brand affinity and insight-led localization both of which have become table stakes to successfully enter and achieve scale in high value beauty markets.

At the same time, brands must have a laser focus on getting partner fit and alignment right: this cornerstone of global brand building is often given short shrift as US growth strategy frequently isn’t de-coupled from the international roadmap. The assumption that the US partner has the same footprint ex-US creates a mismatch in expectations.

Bridging that gap when roadmapping expansion is essential to ensure that global business goals are fully met.

Market Snapshots: India and MENA

India’s beauty market is forecast to grow from $31BN in 2024 to $36.5BN by 2028 at a 4% CAGR.

Similarly, MENA is on track to grow at a CAGR of 4% through 2028 and projected to reach $28BN. Notably, Egypt, one of the fastest growing beauty markets in the region, is on track to grow at a CAGR of 6.5% through 2028.

Play the Long Game in China: By contrast, China’s beauty market is projected to reach $96BN in 2027 growing at a 8% CAGR outpacing the overall market.

Clearly, while all eyes are trained on India and MENA, rule out China at your peril. Those brands playing the long strategic game will reap the rewards.

Similarly, out of the gate, table stakes for success in China, India and MENA, is a deep knowledge of rapidly evolving market and consumer dynamics and channel mix. Those brands armed with strategic, actionable insights will reap the rewards by striking a meaningful and resonant chord with an increasingly sophisticated Chinese, Indian, and Middle Eastern consumer.

Fundamentally, to compete with homegrown brands must understand which levers of their value proposition resonate and why; get product/market fit and purpose-led innovation right, and message effectively to drive engagement, brand momentum, conversion, repeat purchase and scale

Let’s connect to explore how Frisson Beauty can roadmap, drive and future proof your global growth.