09.18.13
Kline & Company is celebrating the 10th anniversary of its Professional Skin Care Global Series report with its newly expanded coverage of seven of the world's up-and-coming markets.
The 2013 edition of the industry's longest-running report of its kind will examine emerging market opportunities in: Thailand, Indonesia, Benelux, Poland, Russia, South Africa, and Canada -- along with continuing coverage of Brazil, the United States, and India.
Carrie Mellage, vice president, Kline, says, "These new markets display similar characteristics to those we saw in China, South Korea, and Brazil that tipped us off to growth opportunities—a rich tourism industry, a growing middle class, and increasing Internet and mobile connectivity that exposes consumers to new products and creates organic demand. As we take our first deep dive into these new regions, we expect to uncover data that will be invaluable for skin care product marketers across the spectrum."
Kline's Professional Skin Care Global Series report is a comprehensive analysis focusing on market size and growth, key changes in sales channels, the distribution and competitive landscape, and new product trends.
Karen Doskow, Kline's industry manager explains, "Over the past decade, our Professional Skin Care Global Series study has provided a comprehensive and accurate coverage of market shifts, challenges, and opportunities in the industry, enabling our clients to access the critical data they need to stay ahead of competition."
So what have been the most notable trends of the past 10 years? Market consolidation and technology evolution, says Doskow.
In the United States, the top five brands now account for nearly 40% of market share.
Beauty leaders, like Procter & Gamble and L'Oreal have acquired professional brands. As a result, the technologies and active ingredients once found exclusively in professional skin care lines have infiltrated the mass market, giving consumers broader access to professional-quality products across a wider range of price points, while also expanding the reach of mass-market manufacturers.
This has kept professional product manufacturers on their toes, driving continuous innovation to develop new products that promise greater efficacy, novel delivery systems, and other breakthrough developments.
From a regional perspective, Kline has documented the global wave of market growth in detail as it peaked in North America and built momentum in Western Europe and the BRIC countries.
Industry growth in the United States peaked in 2008 at 7.5%, before levelling off at 3% in 2012.
In Europe, 2007 saw growth surge to a 9.5% CAGR, followed by a steady decline to a CAGR of just under 2% in 2012 in the wake of the global recession.
China and South Korea have both continued to post stellar increases of over 9% CAGR respectively, to buoy global markets with an overall 5.3% growth rate.
The 2013 edition of the industry's longest-running report of its kind will examine emerging market opportunities in: Thailand, Indonesia, Benelux, Poland, Russia, South Africa, and Canada -- along with continuing coverage of Brazil, the United States, and India.
Carrie Mellage, vice president, Kline, says, "These new markets display similar characteristics to those we saw in China, South Korea, and Brazil that tipped us off to growth opportunities—a rich tourism industry, a growing middle class, and increasing Internet and mobile connectivity that exposes consumers to new products and creates organic demand. As we take our first deep dive into these new regions, we expect to uncover data that will be invaluable for skin care product marketers across the spectrum."
Kline's Professional Skin Care Global Series report is a comprehensive analysis focusing on market size and growth, key changes in sales channels, the distribution and competitive landscape, and new product trends.
Karen Doskow, Kline's industry manager explains, "Over the past decade, our Professional Skin Care Global Series study has provided a comprehensive and accurate coverage of market shifts, challenges, and opportunities in the industry, enabling our clients to access the critical data they need to stay ahead of competition."
So what have been the most notable trends of the past 10 years? Market consolidation and technology evolution, says Doskow.
In the United States, the top five brands now account for nearly 40% of market share.
Beauty leaders, like Procter & Gamble and L'Oreal have acquired professional brands. As a result, the technologies and active ingredients once found exclusively in professional skin care lines have infiltrated the mass market, giving consumers broader access to professional-quality products across a wider range of price points, while also expanding the reach of mass-market manufacturers.
This has kept professional product manufacturers on their toes, driving continuous innovation to develop new products that promise greater efficacy, novel delivery systems, and other breakthrough developments.
From a regional perspective, Kline has documented the global wave of market growth in detail as it peaked in North America and built momentum in Western Europe and the BRIC countries.
Industry growth in the United States peaked in 2008 at 7.5%, before levelling off at 3% in 2012.
In Europe, 2007 saw growth surge to a 9.5% CAGR, followed by a steady decline to a CAGR of just under 2% in 2012 in the wake of the global recession.
China and South Korea have both continued to post stellar increases of over 9% CAGR respectively, to buoy global markets with an overall 5.3% growth rate.
