Skin Care Market to Reach $7 Billion by 2010: Study
NEW YORK -- Consumers' quest to stay young will drive the skin care market's growth to more than $7 billion by 2010, according to a new study by market research firm Packaged Facts.
The study, "Skincare Products in the U.S," said anti-aging products are expected to retain double-digit growth rates in the next several years, while sales of moisturizers, cleansers, and hand and body lotions are expected to also see healthy growth. Facial cleansers, however, will remain relatively flat.
Total category sales reached $5.8 billion in 2006, according to the research.
"Marketers and retailers have done an excellent job of repositioning products based on need and catering to a wider audience including teens, 20-somethings, and men," said Don Montuori, publisher of Packaged Facts. "Rebranding has paid off in several instances and positioning products in a more 'cosmeceutical' fashion has fueled market growth and will continue to do so in the next several years as consumers buy into the promise of better looking skin."
Additionally, higher-priced, higher-quality mass-market products and increased mass-market distribution of prestige products will continue to stimulate market growth, according to the report. Highly functional product promises, such as protection, prevention, deep cleansing, or regeneration, combined with natural and organic ingredients will also fuel dollar growth.
Skincare Products in the U.S examines the skin care market for both mass and prestige skin care products available through retail and online channels. The full report is available at www.packagedfacts.com.
The study, "Skincare Products in the U.S," said anti-aging products are expected to retain double-digit growth rates in the next several years, while sales of moisturizers, cleansers, and hand and body lotions are expected to also see healthy growth. Facial cleansers, however, will remain relatively flat.
Total category sales reached $5.8 billion in 2006, according to the research.
"Marketers and retailers have done an excellent job of repositioning products based on need and catering to a wider audience including teens, 20-somethings, and men," said Don Montuori, publisher of Packaged Facts. "Rebranding has paid off in several instances and positioning products in a more 'cosmeceutical' fashion has fueled market growth and will continue to do so in the next several years as consumers buy into the promise of better looking skin."
Additionally, higher-priced, higher-quality mass-market products and increased mass-market distribution of prestige products will continue to stimulate market growth, according to the report. Highly functional product promises, such as protection, prevention, deep cleansing, or regeneration, combined with natural and organic ingredients will also fuel dollar growth.
Skincare Products in the U.S examines the skin care market for both mass and prestige skin care products available through retail and online channels. The full report is available at www.packagedfacts.com.