Still an air of caution over professional skin care despite 2nd year of market growth

The professional skin care products market experienced a second year of growth, posting a 5.3 per cent increase in 2011, however Kline has suggested the industry should remain cautious.

While the overall tendency suggests a continued recovery of the market following the onset of the recession, subtle trends behind the figures paint a more undecided picture, according to the market analyst.

Close to pre-recession levels

In Europe sales grew 4.0 per cent, closing in on pre-recession peak levels, however consumers continue to spend cautiously on post-treatment purchases and are highly value-conscious, which is taking its toll on the market.

Sales through beauty institutes and salons, the largest purchase channel in Europe representing almost 60 per cent of the market, increased by 3.7 per cent in 2011.

The European market is highly fragmented with leading brands, Guinot, followed by Clarins, enjoying strong growth.

Across the pond, the US market is relatively consolidated, with the top five brands accounting for a 38 per cent market share.

APAC going strong

It is in Asia-Pacific though, where the market has seen a boom, as China and South Korea posted stellar growth of 9.3 per cent and 9.5 per cent, respectively, within the professional sector.

As a result of a regulatory change in South Korea, which drove investment in beauty institutes and greater consumer spending, the market, penetrated by domestic brands, recovered rapidly from the recession.

Kline’s industry manager, Karen Doskow, stressed the importance of the internet and home shopping channels in sales figures, particularly in South Korea, which she says is comparable to the US.

“[Particularly] local brands actively develop e-commerce by operating their own online shopping websites, as well as entering larger platforms run by Internet home shopping channels,” she said.