The pursuit of beautiful and flawless skin has been part of society since the beginning of time. The Egyptians often used natural products, such as olive oil, ostrich eggs, and essential oils, on their skin. They were also responsible for creating the first anti-wrinkle creams with frankincense essential oils. Today, skincare has become one of the largest global industries, with products now offering protection against ageing, free radicals and even environmental pollution.
Insight Survey’s latest SA Premium Skincare Industry Landscape Report 2018 carefully unfolds the global and local Premium Skincare markets based on the latest information and research. It examines the market drivers and restraints as well as global and local market growth to present an objective insight into the South African Premium Skincare industry environment, market dynamics and its future.
The global Skincare market was valued at US$128 billion in 2017, and it continues to increase. It is forecasted to grow at a compound annual growth rate (CAGR) of 2.9% between 2017 and 2021, to reach US$156 billion by 2021. The future of the Skincare market is promising with many opportunities in the areas of anti-ageing, sun protection, body care lotion and multi-functional skin creams. The importance of the Premium Skincare market continues to increase with the segment expected to make up 53% of the total Skincare market in 2019.
Consumers’ skincare needs are constantly changing, and these needs are often influenced by recent trends, as well as industry developments. Many consumers today are leaning towards more natural products, and they specifically prefer mild, organic, and chemical-free skincare products. Amy Regan of Skinfix says that 73% of millennials claim they want natural skin care products.
Natural formulations have become central to the Skincare market, and many major brands and niche brands are featuring natural claims on their product packaging. Research indicates that the Organic Skincare segment is forecasted to increase at a CAGR of 10% between 2016 and 2025.
The use of anti-ageing skincare products is still a highly relevant trend in the industry, and it has a significant influence on the development of new skin care products and techniques. Hyaluronic Acid and Retinoids, two ingredients with strong anti-ageing properties, are highly prevalent in the Skincare industry. These ingredients address specific skin issues, such as wrinkles, scars, acne, and sun damage.
Although anti-ageing skincare products are still very popular amongst consumers, there has been a shift away from the use of the term ‘anti-ageing’. Consumers are showing a preference for products which embraces the ageing process, rather than products that highlight the ageing process as something of a battle. Key players, such as Dove and L’Oréal, are repositioning their anti-ageing product ranges with terms such as ‘Pro-Age’ and ‘Age Perfect’.
In South Africa, growth in the Premium Beauty and Personal Care category is being driven by aspirational consumers who want to be associated with well-known international brands. These brands are well-known for their quality, and often represents a valued status symbol for the consumer.
The SA Premium Skincare Industry Landscape Report (136 pages) provides a dynamic synthesis of industry research, examining the local and global Premium Skincare industry from a uniquely holistic perspective, with detailed insights into the entire value chain – from manufacturing to retailing, as well as industry trends, drivers, and challenges.
Some key questions the report will help you to answer:
- What are the Global Premium Skincare industry trends, drivers, and challenges?
- What are the current market dynamics (market environment, size, value, volumes) of the SA Premium Skincare industry?
- Who are the key manufacturing players (and product ranges) in the SA Premium Skincare industry?
- What are the South African industry trends, drivers and challenges?
- Who are the key retail players (pharmacies, retail stores, online stores, beauty salons and spa chains) in the SA Premium Skincare industry?
Please note that the 136-page report is available for purchase for R25,000 (excluding VAT). Alternatively, individual sections can be purchased for R9,000 (excluding VAT). For additional information simply contact us at firstname.lastname@example.org or directly on (0)21 045-0202.
For a full brochure please go to: South African Premium Skincare Industry Landscape Report 2018
About Insight Survey:
Insight Survey is a South African B2B market research company with almost 10 years of heritage, focusing on business-to business (B2B) market research to ensure smarter, more-profitable business decisions are made with reduced investment risk.
We offer B2B market research solutions to help you to successfully improve or expand your business, enter new markets, launch new products or better understand your internal or external environment.
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