The cosmetic industry  - AGIJ Even during toug

The cosmetic industry  - AGIJ

Even during tough economic times, the cosmetic industry has proved resilient as customers continue to spend on skin care products, particularly anti-aging facial skin products. Collagenna’s natural product focus poises the company to benefit from the largest growth in the sector.

In 2007, the global skin care market grew by 4.1% and reached a value of $49.5 billion. Despite a minimal decline in 2009, the market research company NPD predicts a return to growth. Forecasts calculate a market value of $58.2 billion by 2012. Anti-aging products represented 62% of the prestige facial skincare market in 2009, with NPD’s point of sale data estimating its worth at $1.2 billion. NPD’s Women’s Skincare In-Depth Consumer Report, which surveyed over 6,000 consumers, revealed that anti-aging is the key motivator when it comes to buying facial skincare products. Most respondents (53%) revealed that the benefits of anti-aging were very or extremely important to them.

The natural and organic sector is the fastest growing in the North American cosmetics & toiletries industry, with sales increasing by 20% a year. Today’s consumers are increasingly demanding green products, and in response, large cosmetic companies, retailers, drugstores and pharmacies across North America and Western Europe are incorporating natural and organic cosmetics into their product offerings.