US and European professional skin care market bounces back in 2010
According to global market research firm Kline, a rise in visits to professional outlets for skin care treatments in 2010 has given way to sales growth for the global professional skin care products market.
Sales in the US increased by 2.7 percent, while Europe recovered from a bad previous year, posting a 3 percent increase. Japan remained relatively on par with 0.1 percent growth.
According to the recently released study, most of the leading professional skin care companies enjoyed respectable sales gains in 2010.
Customer trust aids medical care brands
The report, Professional Skin Care 2010 Global Series: Market Analysis and Opportunities, states that brands from the medical care providers channel reaped the strongest growth, with SkinMedica and SkinCeuticals posting double-digit gains
Medical care brand Obagi also maintained its leading position in the US market, experiencing a 13 percent sales gain for the year.
The largest purchase channel, stated in the report, is still spas and salons. However, Kline did comment that market share for the channel continues to decline due to stiff competition from other channels and the general market for facial treatment products.
In Europe and Japan, Guinot was the leading brand in 2010, although it appears more and more brands appear to be adopting multi-channel strategies in these regions, according to Kline.
Beauty institutes are the leading purchase channels in both Europe and Japan with nearly 59 and 68 percent of market share respectively. The research company says customers' trust in a doctor's ability to manage various types of skin problems has allowed the medical care providers channel to grow the most in 2010, across all regions.
Invasive procedure alternatives
There has also been an increase in the number of professional outlets offering non-invasive alternatives to invasive cosmetic procedures.
Kline claims marketers want to appeal to a wider group of consumers, such as teenagers, mature clients, pregnant women, and men, by expanding their portfolio with specifically targeted product lines.
"Looking ahead, there are several areas that marketers should take into consideration for future planning," said Karen Doskow, industry manager at Kline's Consumer Products Practice.
"They should be working closely with accounts to help them adapt to the new consumer demand and stock the products that will cover the most prevalent of skin care concerns."
Doskow pointed out that introducing smaller sizes of products for retail to appeal to a more frugal consumer, would be another strategy to consider.
Kline predicts that over the next five years the market is expected to increase at a compound annual growth rate of 6.7 percent in the United States, 4.2 percent in Europe, and 2.6 percent in Japan.
