Stay ahead of the curve and future-proof your business with Mintel’s UK The Prestige Beauty Consumer Market Report 2024. Our full report is packed with consumer-led market intelligence, the latest prestige beauty market research, trends and consumer behaviours affecting your business. Get a 360° view of the prestige BPC market including market size, share and forecasted growth to help you align your business strategy with the needs of your audience.
Below, we’ve handpicked the key insights analysed in the full report and summarised the core topics.
Topics Analysed in this Report
- The impact of the rising cost of living on the prestige beauty market.
- The value of the prestige BPC market and forecast for the next five years.
- Usage and purchase of prestige beauty products, including frequency of usage, purchase channels and gifting occasions
- Launch activity in the prestige beauty market.
- Consumer attitudes and behaviours, including loyalty toward prestige beauty, and perceptions of new and heritage brands.
Prestige BPC Market Outlook
Sales in the prestige BPC market are expected to continue to increase in 2024, despite a challenging economic environment. While those who buy prestige products are buying fewer, the prestige beauty market has attracted new users and demand for prestige is being driven by ‘quiet luxury’ trends, as well as recovering financial confidence.
- Prestige beauty market size: Mintel estimates that retail value sales of prestige BPC products reached £3.4 billion in 2023.
Prestige Beauty Market: Challenges and Opportunities
Secure loyalty amidst ‘dupes’
As more consumers enter the prestige BPC market, they become committed due to experiencing the benefits. However, value-conscious consumers may opt for cheaper alternatives due to the ‘dupe’ culture emerging in the prestige beauty market. Brands therefore must demonstrate value and offer convenient purchasing options.
- Prestige beauty market research: 42% of prestige BPC buyers have purchased a ‘dupe’ version of their favourite product.
Demand for fine fragrances
The prestige fragrance category was the leading segment in the prestige BPC market. However, ‘dupe culture’ is also prevalent in the fragrance category. To combat this, new and established fine fragrance brands can create affordable entry-level formats for new consumers.
- Prestige beauty market size: Mintel forecasts that the fragrance market value sales reached £1.3 billion in 2023.
Purchase our UK The Prestige Beauty Consumer 2024 to receive a five-year forecast, consumer behaviour analysis, and recommendations for market opportunities. Readers of this report may also be interested in our The Future of Fragrances 2024, or our range of Fragrance Market Research.
Brands Featured in the Full Report
LVMH, Estée Lauder, L’Oréal, Puig, Shiseido, Chanel, Coty, L’Occitane, Kao, Unilever.
Additional Features Included with Your Purchase
- Interactive Databook: Each Databook is provided as an interactive website where you can deep dive into our consumer research data on your chosen topic so you can draw your own conclusions.
- Consumer Confidence Tracker: Our Trackers paint the picture of the economic confidence and major concerns of up to 40 different demographics, tracking changes in attitudes over time.
- Custom PowerPoints: Incorporate our consumer research data into your own work so you can win over your clients and stakeholders. Select insights from your report to create a custom presentation that is ready to download in minutes.
- Different Digital Formats: PDF for conveniently sharing with your team, PowerPoint for quickly including in your presentations.
- Mintel’s Clients Portal: Our portal provides instant access to actionable analysis, podcasts, and trend pieces relevant to your industry that are published almost daily, as well as our annual Global Consumer Trends. You can also browse our extensive catalogue of market research reports.
Expert Insights from a BPC Analyst
This report, written by Shiyan Zering, a leading research analyst, delivers in-depth commentary and analysis to highlight trends in the prestige BPC market and add expert context to the numbers.
‘Quiet luxury’ trends have benefitted the prestige beauty market, as demand increased in 2023, and consumers sought ways to enter the market with value in mind.
Shiyan Zering
Beauty and Personal Care Analyst
Collapse All
-
- Key issues covered in this Report
-
Executive Summary
- Opportunities for the prestige beauty market
- Market dynamics and outlook
- What consumers want and why
- Graph 1: types of BPC brands used, by prestige brands, 2022 and 2023
- Graph 2: prestige BPC gifting occasions, 2023
- Graph 3: attitudes towards prestige BPC products, 2023
- Innovation and marketing
- Graph 4: prestige, luxe and super-luxe BPC’s share of all BPC product launches, 2020-23
- Graph 5: miniature or travel sized* prestige, luxe and super-luxe BPC product launches, by category, 2021-23
-
Market Dynamics
- Market segmentation
- Macro-economic factors
- Graph 6: CPI inflation rate, 2021-23
- Graph 7: perceived benefits of buy now pay later, 2023
- Graph 8: % of adults who have paid more for a sustainable beauty/grooming product, by generation, 2023
- Graph 9: online marketplace/peer-to-peer selling platforms used in the last 12 months, by generation, 2023
-
What Consumers Want and Why
- Types of BPC brands used
- Graph 10: types of BPC brands used, by category, 2023
- Graph 11: types of prestige BPC products used, 2022 and 2023
- Graph 12: prestige colour cosmetics usage amongst females, 2022 and 2023
- Graph 13: types of prestige BPC products used by men, 2023
- Graph 14: repertoire of prestige BPC products used, 2023
- Frequency of prestige BPC product usage
- Graph 15: frequency of prestige BPC product usage, 2023
- Graph 16: frequency of prestige BPC product usage, by product used, 2023
- Types of BPC products purchased
- Graph 17: types of BPC brands purchased in the last 12 months, 2023
- Who prestige BPC products are purchased for
- Graph 18: who prestige BPC products were purchased for in the last 12 months, 2023
- Graph 19: who prestige BPC products were purchased for in the last 12 months, by age, 2023
- Prestige BPC gifting occasions
- Graph 20: prestige BPC gifting occasions, by gender, 2023
- Where prestige BPC products are purchased
- Graph 21: purchase channel for prestige BPC products, 2023
- Prestige BPC shopping behaviours
- Graph 22: prestige BPC shopping behaviours, 2023
- Attitudes towards prestige BPC
- Graph 23: attitudes towards prestige BPC products, 2023
-
Innovation And Marketing Trends
- Launch activity and innovation
- Graph 24: % of prestige, luxe and super-luxe BPC launches accounted for by each category, 2020-23
- Graph 25: % of BPC launches in each each category accounted for by prestige, luxe and super-luxe BPC products, 2020-23
- Graph 26: top 10 claims in prestige, luxe and super-luxe BPC product launches, (by 2023), 2021-23
- Graph 27: miniature or travel sized* prestige, luxe and super-luxe BPC product launches, by category, 2021-23
- Graph 28: prestige, luxe, and super-luxe BPC products, by top ultimate companies and other, 2022 and 2023
- Fragrance launch activity
- Skincare launch activity
- Haircare launch activity
- Colour cosmetics launch activity
- Advertising and marketing activity
- Graph 29: total above-the line, online display and direct mail advertising expenditure on prestige BPC, 2020-23
- Graph 30: total above-the line, online display and direct mail advertising expenditure on prestige BPC, 2022
-
Brand Research
- Graph 31: commitment to prestige brands, 2023
- Graph 32: usage and awareness of prestige BPC brands, 2023
- Graph 33: usage frequency of prestige BPC brands, 2023
-
Appendix
- Report scope and definitions
- Methodology
Market Intelligence Made Easier With Mintel
The first Mintel Market Intelligence report was published over 50 years ago. Since then, we have provided our unique insights and understanding of consumers, innovation and global markets to thousands of customers worldwide. Here’s why our customers rely on Mintel:
- Gain a comprehensive, 360-degree view of the market: Mintel reports blend consumer research, market forecasts, product innovation tracking, and competitive analysis, allowing businesses to see every angle of their industry and identify new opportunities quickly.
- Make decisions with confidence, grounded in robust data: Each report draws on up-to-date, reliable information from trusted sources and industry experts, ensuring your strategies are based on solid evidence rather than speculation.
- Benefit from expert analysis and practical recommendations: Mintel’s reports are written by experienced analysts who interpret complex data and provide clear, actionable insights you can trust to guide your next moves.
- Stay ahead with actionable intelligence on market trends and consumer behaviour: By combining fresh research with long-term market monitoring, our reports help businesses anticipate changes and adapt strategically. So you’re prepared to make informed decisions and drive growth.
What goes into a Mintel Market Intelligence Report?
Curious about how a Market Intelligence report comes together? We like to think of it as building a detailed puzzle. We start with individual pieces: data from consumers, market statistics, industry trends, and online conversations. Then our expert analysts add world-class human insight and industry knowledge. The pieces are assembled to reveal a clear, comprehensive picture of a market.
The Four Pillars of Our Research
We use a combination of four main research methods when creating our reports, each adding a valuable perspective:
- Consumer Research: Direct surveys with real people, giving us clear, current insights into what people think and do.
- Desk Research: In-depth review of trusted data sources. We use this rich database, plus powerful internal tools that track new products and market sizes, to detect trends and guide forecasts.
- Trade Research: Insights from conversations with industry experts. Their real-world experience helps us understand what’s happening behind the scenes.
- Brand and Social Media Research: Analysis of online opinions and trends. This lets us spot trends, measure brand sentiment, and capture feedback in real time, adding further depth to our research.
Bringing It All Together
Each of these four pillars provides a different piece of the puzzle. Consumer research tells us what customers think, desk research provides the factual framework, trade research offers an insider’s view, and social media analysis reveals public sentiment.
Our expert analysts are skilled in weaving these diverse data streams together. They apply a range of quantitative and qualitative analysis techniques to uncover the deeper story, connecting the dots to deliver clear, actionable insights. This comprehensive, multi-layered process is how we transform raw data into a market intelligence report you can trust to inform your most important business decisions.
£ 1,495 (Excl.Tax)
-
Download today with instant access
Pay via credit card or invoice (net 30 payment terms)
-
Multiple formats provided
We send a PDF, Powerpoint and Excel Databook straight to your inbox. An interactive version of the report is also available on our online platform
-
Interactive databook included
Focus on the data that matters most to you with a customisable databook avaliable on our platform
-
Save up to 20% when you purchase multiple reports
Discount automatically applied in basket
Next Starts Here
Whatever your business needs, we have the solution. From market intelligence reports to customised growth strategies.
Learn moreTrusted by global industry leaders
One of the biggest challenges we face is the need to get smart on a business or category real quick.
We are talking to clients who live and breathe their category every day and the expectation is that we will be able to get caught up very quickly, and bring the thinking that can help them.
We need to do that often in a matter of days, so it’s not a small ask. Mintel gives us a very articulate view of category conditions and does so at the speed we need it.
Jeff White, Business Development Director, Deutsch
When I’m investigating specific sectors I tend to use Mintel reports for their forecasting, which I’ve always found to be very accurate.
They also offer really broad and deep coverage in their reports. They are very, very detailed. For example, we were able to gain insight across a wide range of business areas from just one report, proving that Mintel is excellent value for money.
So overall, it’s the level of detail and the quality of forecasting that really stand out for me.
Rebecca Green, Market Insight Manager, Wincanton
We’ve found it so useful working more closely with Mintel. They helped support our recent flagship event for our top suppliers by providing a really unique viewpoint on the future of online retailing.
Nick Carroll from their Retail Team was also an excellent panelist, sharing useful and actionable consumer insights. We definitely look forward to working with Mintel again on future projects.
Zac Steele, E-Commerce Trading Development Manager, Waitrose & Partners
There is no question that Mintel is the go-to resource for the best quality market research, but I did not think it was an affordable option for Abacus Marketing to consider. As a small marketing agency, we only work with a few new clients each year.
However, we have a very high-end consultative approach to our work, so we really do need a partner like Mintel to provide the big agency experience we are always aiming to deliver. Our clients come from an incredibly diverse range of industry sectors, so we obviously need access to market research reports from a very wide spectrum of marketplaces – and that is precisely what we got.
Stephen Taylor-Brown, Managing Director, Abacus
Mintel is really good for getting a handle on a particular category quickly. If we are working on a new business pitch in an area we don’t have much experience in, it’s a brilliant way to get up to speed with what’s going on, what’s changing and what the key trends are in any category.
It’s very rare now that anyone will plough through a 200-page report – that’s why the summaries are really useful. We know they are backed up by a lot of detail, so if you need to go into something in more depth you know the information will be all there for you.
Pauline Robson, Managing Partner, Mediacom
Next Starts Here
Whatever your business needs, we have the solution. From market intelligence reports to customised growth strategies.
Learn more
