Beauty
November 4, 2026
Beauty is the most-protected discretionary spend. Image credit: Shutterstock
By Luxury Marketer Intelligence
The beauty market fragmentation is accelerating and the industry is shape-shifting faster than it’s growing.
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P7sq8BfUjiRc21OgJKF0AHHOOcsX2Pw14LjBR04AGVLJivaXWsCePXpLqrdu3BcvxVy0+f2YSLApFj943WxzNLsBrKa4yQKomhEcpR2k3XIjNpZ+rUKVn+24BAUTxk+BGHE5IcG1F\/a6tEgqq5VrmDtPsuWP3RdFEU7DXj3BS5TTkyICifsFmHK9LclBryHsgB82JuiaxYSwJDfG+m5fevieqsTZGiOL+bRC4UozJTDV4uHIZtLXJpSW4Pvssu2Ys1ZYw6P6D2PgzwlXhvEmsFsFxH\/3a28ZDGVjuu18ahTpXn9HWe+Pw7ifnAwFMr2Wf4ydxOcuL\/ElzlZWhqcsGDOvS6TXH5QyR6LnrxT\/IkI5I2aYKD3AWHUTQd8AuGPKsTXarCAr988I1YxYqyN2aXsVnNkTJtk6G3\/ymfKlZnDfBCcWaDbvcUPs02Kaoygkd31Zt1ix7eaJMMjYgvVue84mlrNrVipvAnnRFR0zc9daELeQqsBnCtMt8sVqxsCyJhfUZu7MyzQG10XadAXVzAt5qZT\/cm5KNcc4bl+KfvtA3tVtmkAK+4N\/7AxqxOOHw\/QYQe7Sao4Ct48YpQy54\/RbN1ljZ8evvv0n\/mzFtgiRfWfq39gVxmVOr64nNsdZVgWnYzVfpi1SiIkQj5m1W7DRmkXN4QvAQrjDBjB4IYIz3BkYWtJMbBnRSxlhNNlIb7gwXTfUlW2sn7kcKcZsMSrA7NK0vR9RmITJxQAwkqFPzzP1LJuSd2j3ZcloquCx5d0sx9NXbE7JEWbpShE\/pamJkJQGDAvjz7041bKzGvM4BrIScwSOeHox10+1XySjMtNrpo5F7VL0Grq8MHV1F05zMNXu9XhYrpNjwNnqhB\/iW12X9PH+jdVoYw2qxMR0Ud2bJ3MDbA8bM5xWaYBAtOGU+6X9yzGnz5ggyQDYl7Ni2Al7\/SFX954TDX+NQJFVPpqzatuNhLO665loy6WW\/291x\/Mz1MqZn4\/yOE8VUa1Fn8gO3J3xSu3H1MTg4FwGp5LqoKWx5MaIlFVURvHvQwRaoNpVWjWaCYGH+w0SsoN+WWrvkDtFuJqNtMk9OzcSR1jkI33eNIWAovoY5JzX9Hgyjw2BxsAeBEjPV+gWmUm\/NfrhoPrc1FstzGdomtwe19N\/8e4LQ6pYVYqMUQ5jpiVxpPZOY6p+n3thXJaKRzBGZdsBnI5t0V488WbP5dE+UOq1CogrqwaOh\/qS9+ncfI6pVTtZUL9ZxjvvrnxxkDPyL6Ted+U2\/kqOHeoXl6gG0+Ggds\/lST9kpzgXyCEAiF+GpWjsDJBfIzfYYNNYG6N0BmgtYwFIFPLynk2zpWyFbcV+q0Pu\/LHWY4M61QQQmsTp7OKbFodUmXFc7XZZERyNUpCegvKaFXbrB4GXhWGbOIwvJJayAacW1DnjHZ2UElEcJgeY2XineFIwOCee\/9w9HqvlfJ9Kooay+nSJwNUpoEHPV4DJDBBeaCzPtH1hJQdOYdW7SiC+HJULVbDhSTZW5\/\/pwHo1gl4w5uBk\/AZGel6eBzcu3gQERJOyV84Sj3C92dZvk8kmyFw412eP+HVS5a58WtteN9\/aJU7p+LGPM6m6IuR+MqoX67ER2X7OUCJi+RopbPiDUQSl\/LX8cQWJhSQvQJT7MF1QnQA2PsmpWTBPv8hYDz2aFxgIxEPQJz+4DeRPMIZYAMY\/a8gwl8NMxhkYTqXanA0g9ws4D7BuorhoaWBMb70GVTSoWBde78jbVmqzbyaCbrIYFpN+l7J5tCeh4WqOai5lJLZCKV3\/\/tquR\/p90HRwrbEbOsgUCLj0sCCNeoiFQdWNvhF2cmH9LfKCP8d3s5vV0UcQgeOX32GxJvLCD5c7qYfjY5SerP9sRa1m0aN+zgFLXrJJWL864S20ZYX+Lh8ZrcKEMWGGuwaoh1mgCI4in5R6AAgx6Inj\/lyCSjVNdw38HV0tt9BkGGF4ly+ZeChoQN+ischcmMgpJCAJdUBQJABXV4YqbqycN13Dwg1HfedGmNsgdM1F1mErxuGGPQSewCHpYrCrHNqSDGouS\/xuoCadPhP\/ysCukL7PdvhKl1ncAZGMjd33DrvFj1WyDH4nydhgDOwszUyat8DmrLyTlf4\/mSPm7H4gkBaUftYQGXlK5nH0zQNEdNtgpMPPHKvh5H5UIljZfgOj0\/C4h4BKPYKKbTS1YagvWKWBkP8UnBGolMDWVt8s0I50pAvMxxMFskL5xi\/z9Df8azwqjHxS70oARKtYoHgPohZACeCUP+rCH2GfAUjLdFDeHVDsNiwsBMvNQtIZr+9yerGSI44Bef2aiRK1aJwCI7apIJOJYvjAPFwTBJBKKYFIODNCnbFloRtattenPRUf75KXXxLFEor\/Q8wAnJaDUF9FF+d\/loXFx9SoG5vad3wYlDS+AmO32nOEmPXU1ewRiQh9b6x6ncIAYbphMJiZrMkZFwhX4QRp3lOscLJFMXKb0+42XbTZi5TjTPwl8Z0fCFVEwt0ScTDF2wSmndNdZiUOEWUxfu1s2vulhZRyqEHlLw0HiT\/Ax3Z8tm+uSSTKbOuadUaXADHkkTFj\/EhFXf3XeRlPtJHwMoLKtNByEQjnpXp2hUyarZNBW9ia+Um\/iRwghFRyB7H7S6m8YFnYFVUNnvGNzwrSCN2qsvIpkSETolgUBvOmDZstjUSBuIfrg1DX8eihq6uHf9c+bJaAXK3h4N\/6MDz6Jp3MY0WzjNlxjdy\/QyzduO+sEqjjtqxYm2ZsJRKBy57uUQd9mROxNydc\/OzCSsaLivTv05KRWswaPLxVJb2b5fpJDXqjFHs4gsE5qu63vR4z9tyP5T\/SbQpcbQf1kjgkuMPadrky2FtYCXqKBGHvVgglZkXAJBIYISJZU1l9HfG+9QwXRmNHecE8WFCmxeqzx\/02uOfCJanylG9NF8yCwNne\/uAqdw3ZPbhk\/xQCBm5ZXnYStFnMvgbUCW7feGzPOKWu0UZdxgwZCRbrsQnW1w+0WvsF6ALXdftTgUOg0Y3YDYeFzwP+MsbTzdgn\/+mKyq\/BpeJnIOIdgjfZ7YQsleUJWGIXlvOgQfSYEa+Loiib+mcaB8R2441gJQblILeYjLHREpUS\/tw\/xzQnc2H3Sc4BrXtkCCZJtZEXhy98QK8NevKnky74NOGVGqqwmrlYE1ZTtz8q+BRImHIpE2rFTjkli7W\/wlJs+\/Zm2vKk8iaL7VzhnAT+e3sXk91KMyyMiRCGamrBf1Nl2n3pV48zqq2fguw8PRdA+rDlTAi9I+chkb290DS5sytlNONfk5L9dpmEJ3ftmEa7alzoqwkQvyAlFvXGFCGNMlmQj\/sO9QJYI\/w9LzjJ+dq6bTR7Yr3WQwuExt5COVew94W0cR0VKprzo7GrvT61Yy6vwIgfqXsoK8xM2WEg1Jj6WxJohFV+HFLjXKMo3\/xfpkmKvlvn52RJf3LLNBtBxoYV31kbmrUMNnh\/ybAdJ4MQdtOOW4dSNzcu2g0J5DMK9Hjf5M5ZjoFK4vQgMxfPQUWh561WNQLjB4mOppVrnMcxvpRU3UTGEWYZs\/JyUCoWbh28RFy8eqpZvVaa0c0PuL0pcp\/zDk6gehGUa3io0ETMWj1q3b954KCgYVaAR8A9vcM0UdHvWPk+RDcBDCQgsEbsKwzDYvWioYUceG22ZmjrvhvdZ77wBb1JBOMSrAMUWVgZhzt\/0fAnPXDco1T\/hxu7u\/R2+gBWZJTXcTbUy3IKap9lI7OJoZPHS+OlsDVv\/PUOzHEozOrwgIQVmX1HSePLOi1R18vfvdmqIGyZx7bRi6c+9I16C4Oa7Z+J3u36zuKCheQu8WDcEC7f26OfuHO9GYQLJKpeYkPN6RmYjzi4b5rG+BzCQ1ETJwJf0dtT9PHO1enEKKNrCYWpcqMfeBw48FatYIfFPTJMmODKnLYmcXp89yAn6jEB9VqMjP1EKbXipV6iyYylCq4eKghTUHqKWvOnNCUHwieXJC3wgSwAAgnh7b27gAABXbBESD\/stUYSNPjxxyghF\/SdlkKtLfXiQXWgOVce6Ojt3dGcHOHWObt4oX6pceMMgyDhdCntcWGPnqe8zuBgy3UMLNS3uWwIrGsYJHW4tGgSQhi0vDL3MzPxCEshhkFZZTsIsqA8XL4vNQmSK8xtX6tgORXaRqvc9H9Eu3fGpWyN4MjEW6FF4sbgdP33CmLtWH0tLVIPQw4yFaZcRPyp1sBVQlRmEvkkMITPMzPZ\/XIXl0HfFJzYYlsNl5FM1j9385gZFYtaMi+Ao5w1mvPUas28YelIdbIcdLr5pOBUw5UdxsTVKm9+b\/vkb6LREso5hoyhOmQxNjQjtOmFjJejr1y8pyRTBJUIKTqXTmv0aO+jn7drBj1AZHvNdE1QBdIXMNFdYhAQZq636qwfZKTUXYChLIIKI8zZezZ0DLpazaETYBHMlje5LxqyvJPppZIQsyncymHAs\/OnmeOn7ibQyuRMQX7kDv4qD9PVLyPgUPYW7Hyv5jlkEONyxzenEwkzmLKnT86ZWdB7hEZetQU9pFB35sW6jeZhS8EUKDGTpgwAzJ47fxD45lbyYdH7ujT6P7NWpF1378wKvkrcvh9hF09GbXSF9kum60t\/3PLHV4fHi5VCDXkGbg0lIE6I9tFflAmUGC2Y1+KiM41aKApvo3r4YUG4vjpGeTslfc\/8zOeunFqPi5w4vOL+l1d9zxN8Nlk6SgbOsUfjU4rnn6b4IKwISS7DiKUbzs9dNcWY6wzXr7EY\/T+Yr8QMFZysfXOVJ7XuwTTQe6xlGHeK8w6uGOQSZcf6lEzDgWp+33QiNSOUlHxVJIfjRYCSZky0MB\/AXW+7Dcuz7EvH+vJuDCqGHGk\/3HbBHVShDOof3LJt8vZACv0+41PrZOq6rkHtq+B6sv+iwVdZWc+09Pp\/KgegG3TSappqfO\/1awa+daAgeqSDQQ2tYSsAehPlbdNbzZ\/RUHhAgul4Xh+Ht\/gu3kNue1VYKQSE7E1uu0LLvJOii","iv":"6c81142e49bfc2b87054f141acac136c","s":"00e678ac0b59f7b9"}
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