Market Focus: Trends and Developments in the Skincare Sector in the UK

Date: 2015-09

“Why was the report written?
This overview of the consumer and market dynamics of the UK Skincare sector allows new entrants and established companies to gain rapid and comprehensive insight into the current state of the market and identify the key trends that will drive growth in the coming years.

What is the current market landscape and what is changing?
The volume of Skincare products used in the UK will steadily increase during 2012-2017 at a CAGR slightly higher than that registered during 2007-2012. However, the market has experienced volatile growth in US$ terms due to fluctuating exchange rates, which has added complexity to the market for international companies operating in the UK Skincare market.

What are the key drivers behind recent market changes?
With more than 35% of the population 50 years of age or older as of 2012, the population mix in the UK has been skewed towards the aging population, aided by the growing life expectancy rate. Therefore, with 38% of the country’s population expected to age further by 2017, the future target for retailers should be the better off older consumer rather than the cash-strapped young consumers. A desire for tailored products along with age-based necessities drives demand in the UK Skincare market. Demand for Skincare products is also influenced by new gender behaviors along with consumers’ desire to look more beautiful.

What makes this report unique and essential to read?
This report brings together consumer insight and market data to provide a comprehensive brief of the UK Skincare sector. This allows for the rapid identification of key growth opportunities across five Skincare categories and their packaging.”

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