The UK skin care market grew at a compound annual growth rate (CAGR) of 5% throughout 2011, to reach a retail sales value of £2.2 billion. This growth was slightly less than the predicted CAGR of 6%.
It appears that while previously, very high growth rates had been anticipated for the UK skin care, the category seems to now be a casualty of the economic downturn, with lower consumer confidence levels resulting in a slight slowdown in growth in 2011.
Segment wise, the UK skin care market saw mass facial moisturisers witness the fastest value growth in 2011, recording a CAGR of 9%. This growth was supported by consumers trading down from premium to masstige or upper mass facial moisturisers, and then not subsequently trading back up to the more expensive brands. Anti-agers were not far behind, with a CAGR of 7% in 2011.
In 2011, Procter & Gamble UK Ltd continued to be the leading player in the UK skin care market, with a 10% value share. The company has been able to maintain its leading position in skin care in the UK due to its Olay skin care range. Olay has a global brand value of almost £206 million.
Through the period to 2016, the UK skin care market is expected to see a 2% CAGR in constant value terms, to reach a market value worth £2.4 billion at constant 2011 prices.
The highest growth over the period to 2016 will come from anti-agers, with a 3% CAGR in constant value terms. The social demand for looking good, with well-toned, wrinkle-free skin at an older age will drive this trend. Young consumers are also increasingly using such anti-ageing products as a preventative measure, due to large-scale marketing by manufacturers.
For more information on the UK skin care market, see the latest research: UK Skin Care Market Report
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