The European skincare market has been forecast to increase at a compound annual growth rate (CAGR) of 2.8 percent over the next five years, increasing from total revenues of $26 billion in 2012, to a value of $29.8 billion by the end of 2017.
An estimated 928 million units of skincare products were sold on the European market in 2010. Growth in volume sales has come from a widening of the consumer base, particularly with the reunification of Germany to include the East German Lander, and an increase in multiple purchases.
The increasingly sophisticated formulations used in the manufacture of skincare products have met with positive consumer reaction overall and suggest that, with continued technological innovation, growth can be sustained into the next century.
Skin care makes up about 27% of the total cosmetic industry and includes skin moisturizers, cleansers, facial products, anti-acne, and anti-aging products.
Of all the cosmetics, skin care products can be some of the most expensive with 2 ounces of product routinely selling for >£200. Women do not mind spending big bucks to keep their skin looking young.
The rise in share of the population accounted for by the over 50s will ensure increased demand for anti-ageing ranges in particular.
Unsurprisingly, the largest European market for skincare is France, with a 31 percent share of the total expenditure in 2010.Germany ranks as the second largest spending nation with a 27 percent share in 2010, followed by Italy, accounting for 15 percent of the market.
The market in Europe is now largely dominated by a handful of large international suppliers, mostly European and American.
Japanese suppliers have a limited presence in Europe, although it is believed that this will change over the next decade. But there is a number of smaller indigenous suppliers with key shares on home markets, such as Manetti & Roberts in Italy, Antonio Puig in Spain, and Boots in the UK.
For more information on the European skincare market, see the latest research: European Skincare Market
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