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Cosmetics & Fragrances Market Report Plus 2011
Key Note Publications Ltd, March 2011
This Report Plus examines the cosmetics and fragrances market in the UK, including face and eye make-up, lip and nail products and both men’s and women’s fragrances. Excluded from its coverage are more functional items, such as soap, shower gels and facial cleansers. The report covers both premium and mass-market products.
Although highly fragmented and characterised by a wide range of product types, the cosmetics and fragrances market is dominated by a small number of large multinational corporations, the result of considerable merger and acquisition activity in recent years. The largest cosmetics and fragrances manufacturers include Estée Lauder Inc, L’Oréal SA, Avon Products Inc, Coty Inc and Inter Parfums Inc. Driving sales are new product developments (NPDs), effective beauty treatments formulas, the redesign and reformulation of existing products, as well as the growing population and the increasing social acceptance of cosmetics products for men.
Retail sales of cosmetics and fragrances covered in this Report Plus amounted to £2.32bn in 2010, an increase of 6.7% on the previous year. Consumer penetration of fragrances and some cosmetics products was exceptionally high. For example, in 2010, 87.5% of women in the UK used perfume or eau de toilette, while as many as 76% used colour lip products.
Competition in this industry is fierce between brands, with hundreds of new fragrances and cosmetic formulas being launched each and every year. The impact of this is being exacerbated by the continuing economic malaise which is still ongoing in many parts of the world, including the UK. While some consumers will continue to buy premium products, many others will be tempted to trade down in price in order to maintain their cosmetic routine. Although the middle-market struggled in 2010, sales of mass-market and premium products remained strong and several companies, including L’Oréal, Estée Lauder and Inter Parfums, posted gains.
Over the next 5 years, the authors expect total sales of cosmetics to increase by a modest 5.7%, while growth in the value of fragrances over this period is forecast to be lower at 4.6%.
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