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.
{"ct":"oY5zBt+b2CxfnCBGtW+frNc0P0CSaDIjjWYQ1RoApRb4BgK8txZBhbcwAsQzOvd1o4bj28CZcT+AV18y4xJdvDbAlSAtMmX6qogoMNbYP458Fs4xOENT5Drf08JHJw+47CsF1LT6ZWNmGG7KZ4+kJeiiih20F\/CyBXgXGpu1iSs3Xf7ELCF6jaFrA+Fzdm3vs7i7wQcFs2kfa40s\/\/tvMZlCmoDYORluhKil0MqzzX\/AhyXKF08q1XScEJeyIghXYkw1vYs111sSudp9iT0L3DQQ+PUvAHOCO5d1gYd6UHdcYWCfr+osCmB1r08tbDOQzeEdLpqd73Udl5IY0\/tI02\/sbQXyKFicvIlPFofKMkb8thXflVLIraC5L2\/8fcaoI8nr1EHDT4DvgV2vFkX8LA568+KYAlkMD\/x8VubU4fwUC1hPTUkSqJi2Zy\/W7HYl2zRV9F5CuwDU\/NOWlsy7WarlfSytapKzfTH6IbxsxEgOvD4XSlLf4bNZVVeErdVn\/53OdNGYq\/K95VvviIR9p71FtpL4se3rLyQw5pJIB1KO7rLnuZjsojXOwdw0mnVa1dqx89e4eWKkvZbIsCRAktj1pmqNt9m4lxRfRgGW6T7Kpu6rVN1y7mQceKbp4gbcssZXmo\/zas23iko2cNcnC0lekTNhsgXldghxrZmb0xTXLyFtA34NLHjnZS6gtR9+Km7xomWLLPgt2C8VkRmLumVXBeGA4SshC3OvH1QTGJalLDBdUGk2aPgzvAy4mShUokhd30COM\/mSHOpZnzQU7xHBUr8GRY0Dd0T4pZZ9wwEX2ddwtlAnF6\/Vl9lPSa+gr0ai8iGVBirfWDnixfp6wKV4C3fXVdibQbPD035ARoY3N3fswVdtQdhkr8Dm6XsbtHjDK10voZsPh3UoS\/zGQd09T5glcu7xyC2MGu1MVctZ0XVFXltB4fhJgoi8NAq8Jzf8xNksfM19bKQjBvNd+BUOPRXfqxB0ZmdrCO0vDX6vmTHOs92IIx+RPBrDkZp8gqYKCV9W35TOkQzikrKvywoJ7aTOyfiNVzE2DLhrzQNedAs21UHfQsulHpKX1cz6JsFcl34njfQgjViODErMbQJaF9N3zj0qPGqI2WUwCgkryi7pnIUro2tOSgsUJPlQoTBGHN8dubULIeuRu31\/LupYcBXehpzwVqqPCO5mlqZv75wUC3ppFGyyW3PUFVrmZA2HLEl0Gi95hLzRjmzfqlOpzo79tXCYIraCO8\/ztp+3w0xlnENGcgjQbc7IJlmvFXHtiOAgca7D\/9XxbAip4yRnxlSn38uMWyQv0L2wSJQVwJ\/wUCI\/adQ7r0PyqGhXlzOCssEMl9D8p2BwtAMR1Ns3OpsYxm8rP\/15vODgcB16SEmeWx1ZCDDwQwCbnpsVv59K\/P+ghJ0sOkBJESko3NYAIrMAZ3TjGfz2+cd2gmyjnYhlTiU23sD1YgvcglRBrr+OXvh+vXdDcSpjHKD1RoX\/pgz71XqzVMzDgpvPTvyd1u7apo0aJ3Z99zII49d17MRrj0qAQrpyWJvODNVOSthqjbEFDd7ldnwN+F46fXQeVlzpo7ZTIRkZj4+Xw1q9zwQSOdnCW7fhoyj\/f9wJckbYExzn4+R5+AXKzasFwk+LHq4YmHSVGTmwyDhgbZxNKRW3AaoWTN+FDKkQ4\/1WtgrxvyZ9LHbbp4hYFcfPegzxCL0FYzBALZ2IQITaT10et3HfSMf9btnai9gO6Ybts3PwFHc2xGXO0nm5VIGxJYIncZhG25JhpAyeQxir0X2i65Ed9BeRhszCidumHNykQET4uRoORm2IEK4BoNllHP9nTUr7i2jn+YheP5lofkhzeYtbW9AmBcjlOhV9hT6wYsn0RtzN5o9w8CKJ2bnNAyyi2zfnVlCKkv2mw3xNhEv6fKf58eo00uMs1frnSBNrHwaVjTEWnDM5tm5KC2YBcitdx9qQp9c9NYJrpqTETwclXFmPiwpNFL5yT\/whF8TiWxx1ZHmXU0OzOEPjIpt\/uTTmLDOzRQcXCDuHIW1veKLT0LMRJ6M\/gTAbCLS4DvTz2DrxCsdGQPyIO6WQEeLnf\/o+2h5nmMnl8YE9amrGaYhzqch6u3ImL1Ok6ZuLEtk9JwukPAaaytyKk+VCu+TZNMr4Bubt29FXRBpeJCYlq2fzhB+Lmv5swZEz1W5M2oVgcYFQIO+wP8h\/np+nUjoaj19vK0P5Os3LyNajk1UU0UIseWYd9MAt259pI0WHrpItMyBsvlmwMEICEHIsUEtFDYAGjfAozYgJ7ndjqOnpxpRL75TlrKpJIEWGKEYdQRQKC2wOjSJ3HhduQz0F6o8FD3u59budWbdLft4P3nGQ6sTEy8Md08FkUXNlmtpA69LxxmHfxj\/bE47+tt9K4ceFEmIBZ\/xSvpu0XAv0uv932eO2bBGh+xoF9zS8Iz7zLE7e0NZtsbGXvxb9NGzzYtxY3WANzY\/kokhiJP6quknJ4sngmtUJC6YW4fc4usRE8zpSkKcyVyZmN388cgkbnXp7B2iQdIhGR7pHZGk50ZhJ1uKnH5hCWQ2X05QXU+lqc0TdMW0pyg0DM3vPjxFJbQhWA4N0nu3UFcN98PzzFlLUcdL\/hOHfCSmu5TI+5MXRwa5YsEK6GZnj3m00IJmhzCqLIh1Yfg5tfaG5H5Eei2\/RLUHx\/poNgrN4N3u07EusYyJXcLHy1rSIfXemX+Jblybs8Zw\/685YLPsHg\/ENPHpcFOnVv4E4D0NbndRVvfgVbj\/DYskrC6pVx8x9VUdti\/ZiZViiJ2JeFLLHJWu23TMuzz\/czvZPlyxHRysIkBle+g97JXBZ5Yd9OBudkQ2jH2U3+sSBBFhEgZXY6GG2YWRcGTaVlnpQXNKLxlN93Z1hiTFdpmddxxFTl5JRDG9\/T3uUqG0yq2Uq8masQ5ptXbEXiTDYAfzyDws\/sI\/xwXtYSNqWwgb1HFN3hlqMDEusTdniFz\/Vw1qK5C5PIp3gmRaPEKN5\/6OQjenfmd4Z7UpFKPrAwmR2QBDjscVMwShAatSldon\/SxsTxsFJd8iipHGL\/kY6qNNOoci5J3\/qiK34u2m1YPx++N+vZjw\/xo88JG909B3\/q4ipSWhXtlh3t2\/oWortsIQIp5GNU5A\/QVzQLrh8LHwu2AYkneEM9VFSK1XnZidXt7MjU63mbyATzxvygdPiLf616DnCQLy1txePmmS3G3Hd59xF9oqYPgAylSr\/cI2HTvB1U2YrVK\/lx9DG+R4KIdvmrIQBUCTvGqyXOgGDl8pPOI1AEEe9EZYLnepERz5AmtwUBdSmpUxoylkuGFa1DM9xiCfao500QciXENJW1X5MEq\/lDt0knGxOy8AivAm6z9gUSTjPwJqcFHvwASxe2SPNtczsQ1vZpvhPc\/byBIfnmUtdaNge\/d3A8P9E+bEuME3lrfgsaP05\/8PVjCRtp1UTf4eeqHxK8KP1nlF85T2jrRZT8V2aBAw0XEiyXBtOykjWOe23irl1W3QVApIMEsbMG43SPMyDRicu4Tq2atJ8\/We7zJN8j5kS49OlPgQkPITMfcfjNKI1XUSqQwXT+HHS75BS5apZz4En9nmyv0fjb8ftkTrSm+Emj+Nfkl669VdtnUUuqCcXDrhFDxyNwndJ5Cq9b6DfZs2kuEBbw4t58CC\/oBPrBzM++3L\/newTb7yivvK7FjIX2qVxa\/eCs0ks0kKqoPC6QLzyMHcH9yXgT99ah2R6WDspOnQumUVjeOz3dmqOS+mSoLa7UG+YcrHzrRfClbMnUjOAtenNvNXTMoeAo50+b2XvvCsRtEm7kstcOn6GxFx7HVUDSP\/8W+53gUvzjr5DETsvztur7NOzcFEafeaYT5bfsiizNAg028+8tZJaCVtY2L2pUW+IYkjbE3lmtILX5V5IsStAYXpHmX30zf8eZOYcZDb3nEm2v1kbuORRSAx3isujB0j+RexSqu3J6IEB7kHjyTJ67U\/nJobfHLk29Zg3rhz7eE+qpFV+wU9RHTteV9Jc1gdFTtbxBVrlwEOFDKP+W0E7FEnt7TgnZHeGTXQoT+DjLvkS+1ozNsAcOeYJ5YG8wEc5bZwgQsy0zLBf+ZtoyC1q+74oWamn3kyzGoFALCSB6w59BHaDJMuOG3tNLvyQ4ojMP+zWXJI\/jJBAhUlWV19DjVfyY03YTUD+5y6pDI6fPhqpYFEATA5DwRX2NWWctqNS0Ow47eKD+gbwm1OvTnqu3u+DMhZ9Wx6KBoKGRD6piC9+yparhm2bTnsw8lbGFdmCFTkOIwzRfxbKUmjKelHYo4Yaf8IOBcmUOuepbVCmE7BBRD8Gaqtt7P7yZ6QT5Cdav2qFTBlJfrgK2VeDaBSG3SrTg1NCEcEGBSei6OduB\/KcPJsTwMZxkGpKJtoSBno2pX36DXnhFxNUFaXoe+zETi2zBWSSxwuftBihT4RDdhreJDU7Y6LJKWGouu31dHo4Vr8jCAF2lfi0vgCJWZEnf83RCaBfT7nimz7wxZ68vN7T4gDv18OHoFchI4nUf2YUa3l\/8aSluig6xjoaE4M+mBnkV7NbVTHPNVapDEga3iPDsOOSq5ZgHnnbcovYlQTdvulgrMNGj9YyS2H6wW1K8EzFt3La2qlBNdG1pcK007C0hGkPO1ez02bK8IwTfvSRdmV5yO7mwmz0q9MrJJslLU+A7NLMZMMdXPx\/4dem7y+JokLj7Y\/eUhNTHNWYlWEOa1PNhrQE1JY\/uatoJZs2Qmix8C+U58XBbtFfgPOXOmQVWlwFoCLTt\/rK8w5CEpQqdaRHAESOUtTAxew8LHB\/j+JAjRNc7AsQ+Fn5EnK1TJnN3y5sDY\/gSe9IVjfxAHWthxgpwfG+iFAadCxnS1qx0RPCknkqkGDktCVcXbmmztpc5JxbwOIdPFwWqmj6WV9SR3lsQ7C6T6io7sR0khPRq4PPQbfJ5BMnc0wpM3CKT575kWtzIFDeJeqH1K0ccCdGbsImHpqHcGxngkqAcJBulfttxnRR+uzlGMKery0vNG7jl9cRe93HrxcVr\/kztTh+M09zc2VTRnueLQEbcKJZwcvvBxJ+UQ6m9KIqXH+wHDhMa9X3bCECSyYdg3fFlknWjIQ3jPwHtPyngvTTnLlsfSsT476D2lXW2OpEbTbyKWJl1Fc9mC+u7j2NZfSfL9O6n7wIHnd67m2iHdredCn795ahnZtFCmKGyvv5rP837PpaasLc6XwoA6NrfMG48OnW0lrlpiPw\/ehBwmhT8NeaRh19kJfiCpBGtrVdCtTE3Na+OEY7TZCWRXAdiArjgUCW4JT+ZocBpBTvuU2MemtQExERAOFQMMia651PKe10g3ywmf5+nO92rmoUFPGNNqfhJa\/j\/Gng+Dvnl18h4kuGNb9QzgkW+G9dgQSXyrxjqQVTHpD60OhTSjhzODs2\/WC+zhbI+FQRQrFC3mWNhoQvhzX1AI9+WgxhQqo2GYnukmtOVxs19qE4RS7dE9rejEoqe\/fvj2s4FWc+bZ4yBcY1KTRoLHo1bz6g5sYWRlw06Zvdmsb\/3wfWvFIRJ067Hpa\/C2Qj\/kPOZWc6WqJqhPLnfBAQRrnSVkWY6UeJ+3227O0+cJu7Bg6e4W4SueUOlUDgWTfLYTiGF7gVIjmeIsSl67+GG2d\/P7B9Na\/\/vc4LSTbAgy0FBuLUMBW+qn8hbecuxqyfE4TZlWZSH1KpS8b8pvfPZc5ictEpdyrTjqkkGnIov9XDDfLU0bA8NNEdpco+Pcgp2aof3TVVMtJOhGP1M0ZQgHW0Ey6FhaHRt8qmLnr0lUlh68fHtywcnobc14ZdH0Cak7WI0+nL7AJYTF6jSx89AbXbRfGpB\/sGIXu3k0u6CCqQIgGAm\/XHrrk1TNWdglfVF7pPIlD6LzEe0of+YaK6dzXt9WrWmPzYHmgEFK15LTdnEz5lRXQvj5JintoYgMZg8LnIH6SDNft8teJG1ZX+deIDWgZ7G4nYA32dvDnvTxaiVku4HqXuMku3uOeCH3+CRbJQ4jvgnXeZKiRC5fIQBl5rksX76c6D8T3kPObyJbPS\/4bKC+V\/+m0sVrgMBWKWOS0TBUF5sOGBKj7+bZvZ33EkrRWODfa4WAoaKjUd14+5GRZwYR0oBQxWFWoucNuqCTsjCeqkSaj8aMG3FOrtEJVFtbeyFvt8mRhU7UTnen+QLDZ\/hpbizjaDDk2d1SRJe5KT5GAbRHyn3eBRBbtqwTVKUgRMm2KlF2TURlU9Z3B1ASzbHsq0mmu+SlcXcrgzAy9BB9ebiig3oP1mIYVk389lTE8YeYt9IykC53EgE2QacK5SqIuAbaXHtCZzE023XDrZoInvN8LzWi7aZhAMXBwC3DYeGEuwrUYJoTCiSyw59eFKnanRYQczTTx+AYztyt64aX3T\/S5JYoqS4HE379HuvAHSWDzbCv7xrbKm+LbtQscXS+Eaou1lEeV9vVNCSeREX0kB3yjT2vGk70dDbHlL9FnDw8f6iJOzaJ+9z5pqk+i+pcphleD7ElOu1rJxng1odZ0haN8nr\/ljwyBThWpITLzRmoLHOYe2jtblE0UQXXmLpfLLTChbpdccfl0nS2B0kg3XmqQpSCBiQ6fG8\/Ho5fzl0CcE3eBTU3+dFtk6q8y1DtFKoOCAGu6qxve6fM65Fjr1ob2vD8UCesBgGtHGP2hap9CHI4epHaYV19KlLuhdJxz74B0U\/1HyWutU4KNxe7TRO+BK9Gbm6lasLSMrJPgSC97Wg0EN6lH\/dyNNF3hOfpzlbwxgiy\/Nm7sTcY225fyfP0Ug4VHJn3c7c1OG+KUfaxcNFDvtCyPkP0ffpQnFgMEnAgColvG9yWtti3VdARXXwOmJsWijDJpIKw2QUxl5ZOLdR+LHPgHGjm+7XwhUhCza34+9X18x8ZgZsq4GpFFJ4dfbXmCrGm80E6ikEjniPG+moZWpIq1+A9pEaIJxzsGSVZd0+ZspHAcvcokP97smP+mDTw0mtVyhpzF8kvDJX9WuB3U4Tq1vUz\/4P03jLCRVBcmgLUCSf0c0wTklEZVW09kxlNIR34I\/mBCAT4dxLjCJkx9Kbmz6WQz2ttYiroYeVCxWDq5IgmrjEJ4bU3HQCE7UTXXrc\/WqPTMORFysfT4Rt6PTp+Lf8kd0JE2C8aeuNTaWrl2jgPlsJxqWx6J6loR9dlR0+flP9lP0BQhWXxErLhqRIReWmBefJlU5P72w2tJSML3KagSUoCsDrv4rKjQUunFzuyDylRbpnSQCus75BjHjHnMGcrFpcKTggYHhcNC3ejBsu9s+VRiHpuk8lCReX\/jH2xkrQx0tNPdwLsVVc8A8Mrnl6DpEkx7vkfh5Oz08Z2ezuwDl3vRyO8eu5AU1CNoGDcexwlftW6A2Pq4F6DfVZWBdgUQy8y1OgO+W0EndwvOyKQEqMPFULyUAUlwI\/GjTy8jFmo\/B\/0lvhJVdbMffJaaX2vAqbwn2VCLU\/DC4t+b2Ki17WNSExfDam+ZSSUj\/vQByMLFacg6v0AoYZ51oEw2FClLtn7s6ftEK5cV7gzyK1x\/+t+cRdztN3PClGKBAYT4AJrCxfhwAXPULeCoihgs63Z2HNCEcpW1Bf+GJNQb5Y2tUXcZR75hyqQFKYcgknWYkra+52Md\/TCciRLfQoSKDKSBHpcTTShugGHHQGXdwrXFOtaxCQMif6tIfiIEc1JNJMPnY5LgeuKiRIDswnD9CDhaO5YQk3aHpePdaSjyMV+ncVZpOtNKS3g\/dqJk9Q9z720OWSAb7MB4WtF+eU9fkK0swYCF98NFbIIEOg1+\/M9S75poIol7yw8MI8Rip+SEv\/hYXuTSv1B64arfrXSN7PXg\/PSmJwkQYBAwKhVALKOMcEy73Vp7wmXz29LvbKCy3u7Hak1nxePh6Na5a5IYSAiQ2Tuz8Y5I+ClGEaTmZgB9SpDmTKCBu9Z88QhHjqr6k0UpYJqx0mZivxWCScwIUDQ16fQvwNOv\/RbiXh0IraAVXX1nL6j6Yuii7N65Em91HLwYavrgGTyEY007Pjv24f\/lBbWRdqms1bNJ6eaAxlPni4UhtT9vOaMQOvg6sLRoSoEh12xqXwWKYBvjZ0ZTN8HzEdFlYV1xiThPo0JZtm7m27OX3Jl4rm1lnDKQ8zJmCue3rRNqFxs6l82uS98QS46lkmV4\/ur95YLfWd7QvnLmvtR7KhY9yvrlvIrgeGuJbejKddzLlf\/Blcl5t2b\/HUqQQiXxlwjgT7RuC78DqyZcTtxw9xX+uehTL0kwOWvBji53je3VBUb7hbdrtBaqxlt+F1SU8\/cdDDG\/oq24KCYqBCvUQzWmlw1X6fiuvxzLjJ+l7IDgvRgI1T9zdkcnQifmySmjPu4sfpGEQX3gkbCt\/sss+2kylQrkyjKTG3Xb5oNjnbSEWAQ6xVcrail1jy\/unIhKwV8R9Nj1LYmCBVYOGJgsE8OWGqODi0vcwoo3RNFtmNDWWyl1yfStnjmEYWPiLjLO69R32\/PePW6rZsNocg9osL+raab+B8xLbRDTPQHD1eirt802GozVTOFip4Tg5mFBhTUKPf5ucS8D4A8uOyeEnAs\/s0\/+z5saj4NnkETY48iiNbsBPZ+O6Zn59Fxz\/FjVvNJp7cIlIT1NU3EkZDZc1wamiINiWCtBHq8iGwseahep3eZteW5emsonMRagM4lZMNgMORTWj4RheNw+78eqv5NRL12PBtkVDQfthMK2qz6AJwck75vpcnzoYtZov4JnImTB0C3jx4vASWRJL\/fHHHGhye1a4YvXT3TcEE37rI0ewywox4D1p6xSGZKHhLQ\/ZR3mspWi0cEtlDO\/lPPGTqiuBmnsxpYs4r6bZXtP6EY+5STxHoOfDAozcQG5eYL4tHboQo4TRaKKsCpxx5h\/3Tec6wqJvCCd2rPayFg8RSWWth7\/JEyEv8JYzlY12lOWxfi6KhFFafaImYUsoFppNtuV4rgznU5EsPad+ObKp88ZVEY\/9ye+5ioeVgcA1ryDDn0bK4et48Yn5F1kIROu93UpDoqYqWHr07kV5GAwpY9uTUnmxBR\/2Fgz9GFO3Zkc2kBFErfVVPGCr4OTmG03auDE9rE76s1n\/1kf9nXAQG\/\/dgVXBJK0bRt+1TzAo8nVyYFOxVNWbP7IvQN9\/mOFBgb6hnxSRkuX4cdlxE+Adr0Vieaz1B38PNVdCfH7wKz3sJYGd0+xht+CycaTSaiLKCvvGGQhYvJmWtkIAJRtfjlYHOFPF0EjAHBUbp7ty16pYoucovbzRFyW4pzlT9aFElbkzzNdI5CVOUIcTybExwJDFzvuWgGWhYDFa6EfhPjwTVOhVTPu2VfASGMAiMwZ0vcoME5jIti+UYjsFABuBDxqJUDRY\/C1jCd0mnaG5vlCFQ4OPt+q4nTrN7XGb3+JtRMzcTnluMeXQ+6nA0DL2B4+EARXBHGWt6Xa4ypVILeK1VRkRSewYUh5ryf0YDfTaNn26l7exKPx0xN\/Xq8R5KmjzvrqEaJStUv4OvJh+FFaXMKZE2NAmdzwP5aEC6CX0ViRUB96eIoaE0C3TEIk70eD5ZyR+IVz5Z5gUmkvprzbIKrg1Vf4UwkL\/qX8v\/XxZ0wImL7Q1jH7lWHH5iVGoB6jtztCC\/GDdGjOvRyTcSCBdL\/AO3ih71DlkvhrA9zoqZFNM+338posglLbBjLSOyp1mKoeOIj\/fLyjC0WGq\/k54McpaEW+nsdClt46dz79EPNHGi4Dd5ook95m70o1evpZ+yl2a4Ln8ntDullxffpeA9uVAj2DVISirWj4QHKfrbtW5dvs1arWTSJ6YIQWZAzNyvebWwEta2O8+OfZ8YlDdHu+1L7SCw2zwMHkRRi\/KWV\/zTiOCvKMerCh5ZO+QOZconMIuT28RZF6RkhSq2JqkPmlR2r4Lzp8c","iv":"264adad9e90500dcd2e8f1daaccde570","s":"a15962301dbb572b"}
Share your thoughts. Click here