The luxury goods market in Poland, particularly the cosmetics and perfume sector, is showing a strong growth trend. According to the KPMG report “Luxury Goods Market in Poland,” its value reached 1.6 billion PLN in 2023. Comparing 2022 and 2023, the market saw a 17.5% increase. Moreover, over the past five years, the market has grown at an average annual rate of 8.7%, and the forecasts for the future are very promising. By 2028, the value of the luxury cosmetics and perfume market is expected to reach 2.7 billion PLN, with an average annual growth rate of 10.9%.
Perfumes as the Leading Segment
Perfumes are a key segment of luxury cosmetics, having decisively dominated the market in terms of both sales value and growth dynamics. In 2023, their market share reached 55.2%, marking an increase of nearly two percentage points compared to the previous year. Perfume sales grew by an impressive 20.9% year over year, making them the fastest-growing segment in the cosmetics sector.
Changes in the Color Cosmetics Segment
In contrast to perfumes, the color cosmetics market experienced slower growth. In 2023, its market share was 12.8%, with sales value increasing by 9.6% year over year. The decline in color cosmetics’ market share among luxury products may be attributed to the growing popularity of more natural and minimalist makeup trends, as well as shifting consumer preferences.
Innovation Drives Competitiveness
In the world of luxury cosmetics, technological innovations play a decisive role in gaining a competitive edge. Companies that invest in research and development are better equipped to meet the growing expectations of discerning consumers seeking the highest quality products. Modern formulas, advanced skincare technologies, and personalized solutions allow luxury brands to stand out in a competitive environment. Personalization of the offer and building lasting, emotional relationships with customers are becoming the cornerstone of effective strategies in this segment.
Future Outlook
Expectations for the continued growth of the luxury cosmetics and perfume market are optimistic. Increasing consumer awareness in skincare, combined with a desire to invest in high-quality products, positions this segment for dynamic growth in line with the presented forecasts. The personalization of services and product innovation are likely to be key factors in determining the success of brands in the coming years.
