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IBD Reports Beauty Industry Growth and Trends

BY DSN Staff | July 25, 2013 | read / Daily News

Sales in the beauty and personal care industry totaled $68.7 billion in the U.S. and $433.4 billion globally in 2012. According to a Euromonitor International forecast, the U.S. industry will reach $81.7 billion by 2017, with 3 to 4 percent annual growth over the next five years.

Much of the industry’s growth is occurring in emerging markets. According to Procter & Gamble’s 2012 annual report, the industry leader has seen its emerging markets average 14 percent annual growth over the past decade. That number will likely grow, as P&G estimates a 10 percent, or 700 million, increase in world population from 2010 to 2020—with 95 percent of that growth occurring in developing countries.

Investor’s Business Daily, which tracks 197 industries, reports 32 percent collective growth among its beauty and personal care group, ranking the industry among the 30 best gains so far this year.  Major drivers of that growth include two of the world’s largest direct sellers— cosmetics giant Avon and anti-aging and nutrition company Nu Skin.

Research by Connecticut-based Global Information identified Avon as one of the biggest players in the “cosmeceuticals” sector. Avon launched 15 new beauty products last year and has experienced a 56 percent stock gain thus far in 2013. Cosmeceuticals, which combine cosmetics and pharmaceuticals to formulate multi-tasking products, generated approximately $30.5 billion worldwide in 2011. It currently represents the industry’s fastest-growing niche, on track to grow nearly 8 percent annually between 2012 and 2016.

Nu Skin saw Q1 sales rise 88 percent year-over-year in China, where the company plans to triple its stores and sales support centers by 2017. By contrast, Nu Skin’s Q1 product sales dropped 3 percent in Europe and rose just 7 percent in the U.S.

Nu Skin generated $840 million in sales last year with its ageLOC line of anti-aging products, and the company hopes to build upon its growth in Asia with this year’s weight-control system launch. According to Deutsche Bank research analysts, the weight management category in the region has experienced almost 11 percent growth over the last five years, and they estimate that in the next five years that number will increase at a 7 percent CAGR (compounded annual growth rate).

“Globally, weight management across channels is a $13.3 billion industry while consumer health care direct selling is a $22 billion market, further highlighting the opportunity if Nu Skin can get its fair share of either pie,” the report said.

Read IBD’s full industry snapshot for wider beauty trends and outlooks.

Posted in Daily News
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