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Toiletries Market Report Plus 2011
Key Note Publications Ltd, July 2011
This Key Note Market Report Plus examines the toiletries market in the UK. Characterised by a wide range of product types, the toiletries market is dominated by a small number of large multinational corporations including Procter & Gamble, PZ Cussons, L’Oreal SA and Unilever.
The market itself is divided into five sectors: personal wash and bathroom products, skincare products, hair care products, oral care products and shaving products (for men and women). Key Note estimates that the total UK toiletries market was worth £4.5bn in 2010, with personal wash and bathroom toiletries comprising the largest sector by value (27.3%), followed by skincare products (27.1%) and hair care products (24.8%).
Compared with other industries — such as the construction and property markets — the overall toiletries market weathered the recent economic downturn relatively well. Many items, such as shampoos, soaps and deodorants, etc., are regarded as daily essentials. Nevertheless, the economic downturn did leave its mark on the industry.
One manifestation of this has been a change in consumer spending habits, with increasing numbers trading down to value products. On the positive side, some consumers are purchasing more premium products as they cut down on more expensive salon treatments, effectively transferring new business to the toiletries market. Another noticeable impact of the strained economy has been the clear scaling down of some promotional activities, a result of suppliers’ profit margins being squeezed as commodity prices have risen for almost everything from oil to specialist beauty ingredients.
While television and print media remain popular, brands are increasingly experimenting with new digital channels as they seek more effective ways of connecting with their existing and potential clientele. The Internet and social media sites such as Facebook, Twitter, and YouTube, are perceived to be effective avenues for brands to communicate through, especially to both male and younger buyers.
Although some sectors are reaching saturation point — and discounting continues to restrict value growth — outlook for the industry is positive. The ‘necessary’ nature of its products and a strong sense of brand loyalty among its customers are its strongest assets. The industry also features high levels of investment in new product development (NPD), which continues to drive sales. Significant opportunities exist in the areas of cosmeceuticals and green/ethical products.
Key Note forecasts retail sales of toiletries will grow by close to 10% between 2011 and 2015, to reach £5.03m in the latter year. The sectors which are expected to exhibit the strongest growth are skincare products, followed by personal wash and bathroom toiletries.
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