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The Future of Skincare: Capitalizing On Emerging Trends and Changing Preferences |
| Published Date : 24 March 2010 |
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Pages : 178 |
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"Introduction
Skincare consumers deem value-for-money to be the main consideration when purchasing category products, but many factors impact choice. Brand is generally not as important to oral hygiene consumers as either moisturizing benefits or overall product efficacy. Yet consumers are clearly quality conscious.
Scope
*Detailed insights and analysis documenting consumers' attitudes towards skincare and the drivers and inhibitors of consumption habits
*Data highlighting the importance consumers place on different skincare product features and the frequency of using these products
*Strategic conclusions combined with actionable recommendations for all industry players looking to fully capitalize on this category
*Covers: France, Germany, Italy, Neths, Spain, Sweden, UK, US, Australia, Japan, S. Korea, China, India, Brazil, Russia, UAE and Saudi Arabia
Highlights
Skincare forms the largest part of the overall personal care market in volume terms. In 2009, around 15% of all spend on personal care came in the skincare category. This figure rises further in Asia Pacific, where one in five US dollars spent is on a skincare product
Consumers clearly believe that taking care of their skin is one of the most important parts of their overall health and beauty regimes. Research shows that more consumers rated taking care of their skin as 'important' than they did for looking their best in day-to-day life, highlighting how pivotal skincare is to the majority
It is apparent that majorities of consumers globally are concerned by differing skincare issues covered in research. In particular, minimizing body odor and sweat was an issue of concern; more than half of respondents claimed to be both concerned about this issue AND actively using skincare products to address the issue
Reasons to Purchase
*Consumer understanding: obtain a detailed understanding of consumer attitudes and behaviors towards skincare products by accessing unique data
*Market understanding: identify the key markets and product innovation trends in 17 countries across five geographic territories
*Ideation: find inspiration for innovative skincare formulations and product positioning which cater to the overwhelming consumer emphasis on value |
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Table of Contents : |
"Overview 1 Catalyst 1 Summary 1 2 Table of figures 3 Table of tables 4 THE FUTURE DECODED 5 INTRODUCTION: Skincare is a major component of the overall personal care market 5 This report is one in a series of five category focused reports outlining personal care trends 6 Skincare is the biggest individual component of overall personal care spend in many regions 6 Today's skincare market is subject to a number of drivers and inhibitors 8 TREND: 'Visual Culture' and an associated pre-occupation with appearance is the defining trend in the personal care space across product categories 10 Image is important to consumers even if they do not significantly feel societal pressure to look good - at least consciously 11 There is scope for consumers to feel happier about their appearance, given the pressure to conform to demanding beauty ideals associated with contemporary society 18 Key takeouts and implications: Visual Culture is the core macro-trend influencing personal care habits. Consumers generally feel it is important to look their best, which is fueling skincare product usage 22 TREND: Countries with long traditions of 'skincare management' have the largest, most established skincare markets 23 France has a reputation as a skincare knowledge center and consumers here have regular skincare routines 24 The US is the second largest skincare market in the world, with growth in hand care forecast to be strong 26 The Japanese purchase high amounts of skincare products as caring for skin forms a key element of their beauty routines 27 Skin whitening creams form an important basis of Middle Eastern women's skincare regimes 30 Most consumers are spending longer on their skincare regimes which is reflected by user occasion growth 32 Key takeouts and implications: emerging markets offer significant growth potential as more affluent consumers purchase skincare products 35 INSIGHT: Value-for-money is the main skincare product attribute desired by consumers 36 While private labels still struggle behind branded skincare products, the recession and a propensity to seek value-for-money are fuelling demand 43 Key takeouts and implications: consumers are constantly seeking out value-for-money, even in skincare, so the threat from private label products cannot be ignored, despite current low penetration rates 50 INSIGHT: Consumers are becoming more demanding of skincare products that address particular skin problems which is leading to more innovative forms of skincare solutions 51 Body odor and skin dryness are two of the main skin related problems consumers are concerned about 53 Body shape and tone issues are mainly of concern to women, but have a lack of consumer trust 54 Numerous creams have emerged on the market that claim to reduce cellulite and tone skin 55 While body tone concerns some consumers, skepticism is a problem for manufacturers of tonal and cellulite creams 56 Adult acne and rosacea are problems for a minority of consumers but form a significant niche market 64 Teen skin brands address teen insecurities and the desire to look good in front of their peers 65 Eczema and sensitive skin conditions are being more frequently reported 67 Key takeouts and implications: consumers will purchase more customized skincare but only if its efficacy is proven 72 INSIGHT: Consumers in different lifestages desire products relevant to their own needs 72 Pregnant women have unique demands for stretch mark creams 73 Baby skincare generally centers on natural formulations that are suitable for sensitive skin 74 Key takeouts and implications: consumers want products that are suited to their particular skin needs and which are well regarded by their peers 75 INSIGHT: Skincare remains underdeveloped in the male marketplace 75 Minimizing body odor and sweat is the biggest skincare concern among men 77 The scale and rate of growth in the female skincare market is continuing to outstrip that in the male market 78 Key takeouts and implications: a wide variety of skincare issues are of concern to many men, but encouragement is still needed to increase product usage 79 INSIGHT: Ethnic populations have their own unique customization demands 80 Multi-ethnic societies are growing, yet skincare is failing to address ethnic requirements 80 Whitening products are an important skincare requirement for many consumers with darker skins 82 Key take-outs and implications: growing multi ethnic societies create a high demand for products suitable for their skin types 85 INSIGHT: Efficacy is a top-of-mind consideration for a majority of consumers when purchasing skincare products, more so than brand consciousness 85 Consumer loyalty to skincare brands can easily switch if other brands are perceived as being more effective 85 Consumers' heavy focus on efficacy translates into quality consciousness, but not always brand consciousness 88 Key takeouts and implications: proven product efficacy can boost the sales of both high and low end brands 111 INSIGHT: Consumers are becoming more aware of the importance of protecting their skin from the effects of the sun, from both an aesthetic and health perspective 112 International bodies have warned against excessive sun exposure due to the risk of getting skin cancer 112 The suncare market is generally largest in hot countries, but growth is occurring in cooler regions 113 Consumers often do not heed advice to limit their exposure to the sun 115 Suncare treatments form a key niche area of anti-aging products 118 Sunbed usage is popular among some consumers but has been criticized by health bodies 118 Sunless tanning offers growth potential as consumers heed warnings to avoid the sun and sun beds 119 Key takeouts and implications: suncare products offer consumers the chance to enjoy the sun in a safe way 119 INSIGHT: Anti-aging skincare is core to the growing cosmeceuticals market 119 Anti-aging treatments are designed to address one or more of the seven signs of aging 120 The anti-aging skincare market is driven by aging populations and a desire by the Baby Boomer generation to stay younger for longer 121 There are five key ingredients in anti-aging skincare 124 Anti-aging treatments are focusing on new directions 125 Face lift alternatives 125 Gene based skincare 126 Oxygenating skincare 126 Non-face targeted anti-aging creams 128 Marketers are targeting both young and old women with anti-aging preventers and treatments 130 Key takeouts and implications: anti-aging skincare will remain the strongest driver of market growth which marketers are willing to invest in 130 INSIGHT: Natural and ethical skincare is of growing appeal to consumers 131 Consumer interest in natural/organic and ethical/environmental skincare is relatively high 134 While middle-aged women form a key target market, opportunities have emerged to target more niche demographics 140 Natural and organic skincare is developing into a range of off-shoots 140 Ethical and environment friendly claims gaining appeal include Fairtrade and low carbon footprint 143 Consumers demand efficacy and product transparency to prove that natural and green skincare is as claimed 144 Key takeouts and implications: targeting a larger sector of society with natural and ethical products is achievable, but efficacy concerns need to be well addressed 147 INSIGHT: The internet has been a powerful medium for skincare promotion, working well alongside traditional marketing platforms 149 The importance placed on friends/family endorsement varies globally but is favored everywhere over other recommendations 149 Celebrity collaborations remain a popular means of promotion for skincare brands 152 The internet is a growing channel for skincare marketing and |
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Published By : Datamonitor |
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