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Global Briefing

Assessing Key Drivers Behind Skin Care Market Dynamics

| Pages: 51

Price: US$1,200

About this Report

At US$100billion sales globally, skin care accounts for a quarter of the total beauty industry. Asia Pacific continues to generate half of total revenues, while Latin America has been the fastest growing region. Category dynamics have been driven by multiple factors, including the increased availability of face masks and devices to replicate salon results at home, while all-in-one offerings and more specialised solutions are gaining equal prominence to address the need for further added value.

Skin care sales reach nearly US$100 billion

2012 marked a special year for skin care, as the category reached a milestone. With nearly 50% of revenue coming from Asia Pacific, the region is the most influential factor in determining skin care’s vitality.

Beyond Asia, Latin America rises as a key region for growth

Latin America and Brazil have emerged as key growth engines in skin care, having more than doubled their skin care sales since 2006. This has most benefited body care with over half of its absolute growth coming from this region.

Anti-agers the top growth category

Anti-agers remained the fastest growing category in skin care, set to add over US$6 billion to its size by 2017. The US, China, South Korea and Japan will be the main drivers.

Accessible luxury - the rise of face masks

Face masks, devices and fashion brands have all gained importance as consumers keep searching for alternative ways to cut down on salon visits, costs and time while living the luxury experience. China alone has been the key contributor to face masks’ one billion dollar growth.

Multifunctionality blurs the lines between categories

Beyond accessible luxury, key trends such as specialisation and multifunctionality have dominated skin care innovation. While the rising desire for more targeted offerings has on the one hand pushed for specialised skin care, on the other hand, consumers’ increasing expectations from products has blurred the lines between categories, with many offerings on the market sitting between categories.

Indonesia, India and Thailand the next skin care markets

Beyond China and Brazil, Indonesia, India and Thailand are expected to continue to emerge as key skin care markets. Indonesia alone will be the third biggest contributor to skin care’s growth with US$1.2 billion by 2017.

What this report includes

  • Top-level strategic analysis of how major consumer trends will influence global markets
  • Consumer insight
  • Impact across all relevant consumer markets
  • Unique graphics and case studies
  • Key market snapshots
  • Accompanying presentation to synthesise main findings

Why buy this report

  • Identify factors driving change now and in the future
  • Understand motivation
  • Forward-looking outlook
  • Briefings and presentation should provoke lively discussion at senior level
  • Take a step back from micro trends
  • Get up to date estimates and comment

Table of Contents

Introduction

Scope

Key findings

Global Overview

Skin care sales reach US$100 billion in 2012

Asia Pacific domination unrivalled in skin care

Emerging markets shake up the rankings in skin care

Growth beyond China and Brazil

Skin care dominates across regions

Body care remains in the shadow of facial care

Mass market growth more resilient than premium

Mass skin care dominates across key markets

Premium skin care potential beyond China

Key Industry Drivers

Key industry innovation drivers

Brand loyalty still strong in skin care

Brand image and efficacy key reasons behind brand loyalty

Brand loyalty hit by novelty and price sensitivity

Accessible Luxury

Accessible luxury here to stay

Face masks enter spotlight

Devices: Skin care category of the future

S kin care - an unexplored area for fashion brands

Emerging markets lead growth for fashion brands in skin care

Cosmetics textiles - a new skin care category?

Specialisation

Individuality drives premium skin care innovation

Ageing is not an option as anti-agers continue to lead growth

Anti-agers’ potential not solely driven by ageing nations

Premium players raise the stakes

Multifunctionality

Desire for convenience boosts crossover between categories

Multifunctionality presence a cross skin care

Specialisation vital for success in multifunctional combinations

Natural Skin care

Green becomes the new black in skin care

Asia and Brazil offer major opportunity for natural brands

Intense competition in natural skin care for Western Europe

Complex competitive landscape in natural beauty

Conclusions

Opportunity remains in emerging markets

Asia’s future domination fuelled by China

Mass market to continue to outpace premium

Face masks and anti-agers continue to lead growth

Anti-ageing shifts into a broader context

Further cross-category convergence expected to drive innovation

Skin care’s leading trends to continue to shape future dynamics

Appendix

Definitions (1)

Definitions (2)

Definitions (3)

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