05.03.16
Market analyst Technavio has announced the top five leading vendors in their recent global facial care products market report, which looks at the period from 2016 to 2020.
This research report also lists 15 other prominent vendors that are expected to impact the market during the forecast period.
According to Technavio, the global facial care products market is highly competitive, with a number of vendors competing on the basis of product differentiation, product portfolio, quality, and pricing. Many vendors are also expanding their businesses to emerging markets such as Latin America and APAC. The growth of the market is primarily driven by the increasing demand from the emerging middle-class population, especially for premium products.
To ensure growth, companies are relying on a number of strategies from brand acquisitions to social media blitzes.
Vendors are currently focusing on expanding their businesses inorganically, says Tecnavio. For instance, L’Oréal is focusing more on M&A. In line with this, the company acquired Decléor and Carita in May 2014. The company also acquired Magic Holdings in April 2014.
“Many vendors are using innovative approaches to increase their customer bases. Estée Lauder is one such company, and it uses social media networks such as Facebook, Twitter, and YouTube extensively for promotional activities,” says Brijesh Kumar Choubey, a lead analyst at Technavio for cosmetics and toiletry research.
The 5 leaders named in the facial skin care category are: Estée Lauder, L’Oréal, Procter & Gamble, Shiseido and Unilever.
This research report also lists 15 other prominent vendors that are expected to impact the market during the forecast period.
According to Technavio, the global facial care products market is highly competitive, with a number of vendors competing on the basis of product differentiation, product portfolio, quality, and pricing. Many vendors are also expanding their businesses to emerging markets such as Latin America and APAC. The growth of the market is primarily driven by the increasing demand from the emerging middle-class population, especially for premium products.
To ensure growth, companies are relying on a number of strategies from brand acquisitions to social media blitzes.
Vendors are currently focusing on expanding their businesses inorganically, says Tecnavio. For instance, L’Oréal is focusing more on M&A. In line with this, the company acquired Decléor and Carita in May 2014. The company also acquired Magic Holdings in April 2014.
“Many vendors are using innovative approaches to increase their customer bases. Estée Lauder is one such company, and it uses social media networks such as Facebook, Twitter, and YouTube extensively for promotional activities,” says Brijesh Kumar Choubey, a lead analyst at Technavio for cosmetics and toiletry research.
The 5 leaders named in the facial skin care category are: Estée Lauder, L’Oréal, Procter & Gamble, Shiseido and Unilever.
