Consumer concerns about appearance, coupled with advanced technologies, have paved the way for this segment's ascent
Los Angeles, California (PRWEB) November 28, 2011
The Cosmetics and Beauty Product Manufacturing industry in the US is worth $54 billion annually, according to IBISWorld, the nation’s largest publisher of industry research. IBISWorld’s findings indicate the focus on anti-aging treatments has boosted the visibility of the Face Moisturizer segment over the past five years as consumer concerns about appearance, coupled with advanced technologies, have paved the way for the segment’s ascent. For this reason, industry research firm IBISWorld has added a report on the Face Moisturizer Industry to its growing Cosmetics & Personal Care Manufacturing report collection.
According to IBISWorld, some niche products, like Face Moisturizers, have successfully broken from the industry’s mature product line-up. Skin care products account for about a quarter of revenue in the wider cosmetics and beauty product manufacturing industry. Included in this category are facial creams and cleansers, functional products (i.e. products that serve a specific purpose, such as reducing wrinkles) and men's skin care products. According to IBISWorld analyst, Nikoleta Panteva, the focus on anti-aging treatments has boosted the segment's visibility over the past five years. “Companies create new products aimed at preserving a youthful appearance on a regular basis,” says Panteva and adds that “consumer concerns about appearance, coupled with advanced technologies, have paved the way for this segment's ascent.”
Women aren't the only ones worried about their appearance; men's skin care products have become a significant product category within the industry. IBISWorld estimates that male-centered care items account for about one-third of this segment. While men already purchase necessities, a growing share is using female-centered products like face creams and anti-aging serums. In fact, major beauty retailer Sephora has a section on its website specifically dedicated to the male consumer. Widespread acceptance of male beauty products will likely carve out a new path for the Face Moisturizer industry, though the effect is not expected to bring about a radical change for operators. Additionally, the recent push for organic and environmentally friendly cosmetics has shed new light on a previously stagnant product line.
Overall the Face Moisturizer industry is forecast to grow broadly in-line with the economy over the coming five years. However, the number of companies participating in the industry is expected to remain flat. With a saturated playing field, new entrants will find it difficult to establish themselves among top producers like Galderma Laboratories, Johnson & Johnson (with product brands like Aveeno and Neutrogena), Procter & Gamble (Olay) and Unilever (Vaseline). Concentration will inevitably increase as the largest players grow even larger, using resources to expand into new product categories and into untapped overseas markets. Companies that remain in the industry are expected to grab a larger slice of the pie.
For more information, download the full report from IBISWorld on the Face Moisturizer Industry
IBISWorld Face Moisturizer industry Market Research Reports Contain:
About this Industry
Industry at a Glance
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalisation & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Jargon & Glossary
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Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.