Skin care is thriving with growth generated through diversification and innovation. Popular formats and claims include serums, creams, anti-agers, brighteners and soothing products, while glycan technology, 'gene' technology, antioxidants, stem cell extracts and EGF are among the ingredients and technologies generating a buzz. Moreover, consumers in mature regions are investing in luxury products and opportunities in skin care are presenting themselves in emerging markets like China.
Skin care is thriving once more with growth generated through diversification and innovation, reports Julia Wray
Women are uncompromising when it comes to their skin and the facial skin care market continued its upward trajectory in 2011 with growth nearly reaching pre-recessionary levels. Figures from Euromonitor International show that the market was worth in excess of $78bn. This marked an increase of 4.8% on 2010, the sector’s strongest year on year growth since 2008/09.
Its success can be attributed to increased scientific innovation and fragmentation with products segmented by age, effect and format. Creams and serums remain at the top of women’s shopping lists, according to Karen Grant, vp & senior global analyst at NPD Group.
“The cream format is driven by . . .
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