Cosmeceuticals in USA Reviewed in Updated Report by Packaged Facts28 May 2012 • by Natalie Aster
In the new (ab)normal of economic sluggishness, cosmeceuticals marketers have an opportunity to shine across multiple generations, including Boomers, Gen X-ers, and increasingly, Gen Y-ers. Like many consumer packaged goods categories, cosmeceuticals sales suffered during the recession, but the going could have been tougher were it not for cosmeceuticals’ “little luxury” appeal and bang-for-the-buck ability to deliver curative and preventative benefits on top of cosmetic ones. Now, this same appeal is contributing to a market rebound amounting to 2% growth in 2010 and 4% growth in 2011. This upswing puts U.S. retail sales of cosmeceuticals at $9.7 billion in 2011, with ongoing annual sales gains expected to boost the market to $11.7 billion by 2016.
According to the report “Cosmeceuticals in the U.S, 6th Edition” by Packaged Facts, younger generations have grown up immersed in marketing messages making them both appearance-oriented and aware of the importance preventive healthcare. As a result, new marketing prospects are opening up at the younger end of the age spectrum, even as aging Boomers open their wallets ever wider to stave off the cosmetic toll of aging.
Still, cosmeceuticals marketers should take nothing for granted. More than ever given their ongoing budget constraints, shoppers expect the cosmeceuticals they buy to perform, and the faster the better. Thus any product with a quantifiable “instant gratification” benefit—which has always been a powerful appeal in the color cosmetics category—has an edge. In addition, with the upper end of the market rebounding the fastest, particular attention should be paid to prestige channel shoppers expressing pent-up demand post recession.
Cosmeceuticals in the U.S, 6th Edition
Published: April, 2012
Price: US$ 3.750,00
This completely updated Packaged Facts report examines the market for cosmeceutical products within the context of broader HBC trends in new product development and marketing, segmenting cosmeceuticals into three categories: skincare, hair care, and color cosmetics. Fully detailing the competitive forces that frame this market, the report analyzes market size and drivers, new product introductions, and competitive strategies, as well as the social and lifestyle patterns shaping the fortunes of cosmeceutical products. Marketer and brand profiles specific to each of the three categories help define the relationship between consumer attitudes and new product development and marketing strategy.
Key data sources include Experian Simmons Market Research Bureau national consumer surveys, covering category and brand usage levels and demographic patterns, and Information Resources, Inc. InfoScan Reviews, quantifying cosmeceuticals marketer and brand shares at the mass-market level across the three product categories. The report includes many product images, and as a special feature, late-breaking data from a Packaged Facts consumer survey that was conducted online in March 2012.
More information can be found in the report “Cosmeceuticals in the U.S, 6th Edition” by Packaged Facts.
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