Kline Marks 10th Anniversary of Professional Skin Care Research with an Exclusive Look at Seven New Untapped Markets
PARSIPPANY, NJ, SEPTEMBER 17, 2013 –With a decade of experience in presenting indispensable market insights and analysis that have propelled the global professional skin market forward, worldwide consulting and research firm, Kline & Company, is celebrating the 10th anniversary of its Professional Skin Care Global Series report with its newly expanded coverage of seven of the world’s up-and-coming markets.
The 2013 edition of the industry’s longest-running report of its kind will examine emerging market opportunities in Thailand, Indonesia, Benelux, Poland, Russia, South Africa, and Canada, along with continuing coverage of Brazil, the United States, and India.
“Over the past decade, our Professional Skin Care Global Series study has provided a comprehensive and accurate coverage of market shifts, challenges, and opportunities in the industry, enabling our clients to access the critical data they need to stay ahead of competition,” says Karen Doskow, Kline’s industry manager. She adds, “As the mature markets have stabilized, we’re harnessing that knowledge and expertise to shift our focus toward those markets where we expect to see the greatest potential.”
Among the most notable trends of the past 10 years, according to Doskow, market consolidation and technology evolution have been hallmarks of the industry. In the United States, for example, the top five brands now account for nearly 40% of market share, and beauty leaders, like Procter & Gamble and L’Oréal, have acquired professional brands to add these products to their portfolios. As a result, the technologies and active ingredients once found exclusively in professional skin care lines have infiltrated the mass market, giving consumers broader access to professional-quality products across a wider range of price points, while also expanding the reach of mass-market manufacturers. This has kept professional product manufacturers on their toes, driving continuous innovation to develop new products that promise greater efficacy, novel delivery systems, and other breakthrough developments.
From a regional perspective, Kline has documented the global wave of market growth in detail as it peaked in North America and built momentum in Western Europe and the BRIC countries. Industry growth in the United States peaked in 2008 at 7.5%, before levelling off at 3% in 2012. In Europe, 2007 saw growth surge to a 9.5% CAGR, followed by a steady decline to a CAGR of just under 2% in 2012 in the wake of the global recession. China and South Korea have both continued to post stellar increases of over 9% CAGR respectively, to buoy global markets with an overall 5.3% growth rate.
On the new untapped markets, Kline Vice President Carrie Mellage, says, “Kline is uniquely positioned to continue providing competitive insights into the market channels, and brands that the industry has come to depend on.” Mellage continues, “These new markets display similar characteristics to those we saw in China, South Korea, and Brazil that tipped us off to growth opportunities—a rich tourism industry, a growing middle class, and increasing Internet and mobile connectivity that exposes consumers to new products and creates organic demand. As we take our first deep dive into these new regions, we expect to uncover data that will be invaluable for skin care product marketers across the spectrum.”
Kline’s Professional Skin Care Global Series report is a comprehensive analysis focusing on market size and growth, key changes in sales channels, the distribution and competitive landscape, and new product trends. The report includes country-level demand data, as well as regional and world overviews by country, channel, product category, product segment, company, and brand. Subscribers also gain access to Kline’s interactive online database, which aids in competitive intelligence, strategic planning, new business development, and screening potential acquisition and alliance partners.
About Kline & Company:
Kline is a worldwide consulting and research firm dedicated to providing the kind of insight and knowledge that helps companies find a clear path to success. The firm has served the management consulting and market research needs of organizations in the chemicals, materials, energy, life sciences, and consumer products industries for over 50 years. For more information, visit www.KlineGroup.com.