Demographics and consumer behaviour
are creating a new mega skincare project.
'New Age of Ageing' Creates a Mega Skincare Project
New anti ageing skincare project 80% bigger.
But sophisticated buyers more demanding of products and
Competition multiplies for established skincare brands.
A new anti-ageing skincare project will transform the facial care
market and have ramifications for the entire beauty industry. This project
is the result of two major changes in consumer behaviour and
Diagonal Reports predicts this new anti-ageing skincare project to
bigger than the current market.
Firstly, the age of ageing has fallen
consumers now seeking the benefits of anti-ageing products before they
actually age. Prevention
has now become an issue for
increasing numbers of young women in the developed world who
take action a decade earlier than was the case in the past. Younger
women were always a key market for beauty, but they are now creating
and shaping a new category
in anti-ageing products and
Secondly, longer life expectancy
has exponentially increased demand for
anti-ageing as skincare regimes are being extended for ever longer
periods. People are living longer so there are millions
new consumers with ageing skin.
The signs of ageing vary by geography, ethnicity and culture but
they are of such profound concern that demand has remained
despite the recession. This contrasts with how shoppers
have cut back on other - more discretionary - beauty spending.
But formulators should beware
. This larger skincare project does
not spell more of the same for the beauty industry or for individuals.
The competition is multiplying. A wide range of portfolios of solutions and methods of delivery –
including the traditional cosmetic and medicalised beauty - now
for a share of anti-ageing spending.
The most sophisticated and best informed
beauty buyers is arriving on the scene. Consumers' expectations for, and the investments made in,
anti ageing skincare products and solutions will intensify.
They will demand immediate and sustainable outcomes and rationalise their beauty spending accordingly.
The opportunities which this new mega skincare market offers
are fully explained in our Global Skincare: Consumer Behaviour/Regimes and Market
. Contact for details