Global Cosmetics Manufacturing.pdf
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1、CONTENTS Error! No text of specified style in document. August 2011 | .au | www.ibisworld.co.uk | IBISWorld Industry Report C1934-GL Global Cosmetics Manufacturing August 2011 About This Industry . 2 Industry Definition . 2 Main Activities . 2 Similar Industries 2 Additional Resources 2 Industry P
2、erformance 4 Executive Summary 4 Key External Drivers . 4 Current Performance 5 Industry Outlook 9 Industry Life Cycle 12 Products for example, a teen boom saw a number of manufacturers target the teenage market in an attempt to capture their highly discretionary but ever-increasing spending power.
3、Others targeted the baby boomer segment, the largest buying group with considerable influence and buying power. Male cosmetics were another market segment targeted with a flood of new product launches in nearly all mens grooming areas. Another age cohort now being courted is children, reflecting the
4、 existence of older mothers (i.e. woman over the age of 30) with higher disposable incomes. Mass market versus luxury Prior to the onset of the global financial crisis, there was a marked move in favor of prestige products both within the traditional mature markets as well as in the newly emerging m
5、arkets. Even lower income classes demanded a greater degree of aspirational products as expectations in all income groups throughout the world continued to rise concerning product quality, presentation and functionality. Thus, there was also a growing trend toward new masstige products - high qualit
6、y mass-market products possessing the appearance of prestige or premium products. A number of the prestige brands were then hit hard during the global economic downturn as consumers moved away from the higher end price points. However, it appears that some are gradually returning in the aftermath of
7、 the global recession, with 2011 seeing the re-emergence of the premium and luxury market segments. In some instances it is to luxury segments with a slightly different spin. In the case of D indeed the introduction of new products readily and rapidly achieves worldwide market acceptance. It is also
8、 interesting to note that most products have a life span of five years or less (with the exception of certain prestige fragrances). At the same time however, the industry remains highly innovative, producing an ever-increasing array of value added and novel products designed to retain and/or stimula
9、te customer interest. This has seen the rise of new product segments (such as natural, organic and hypoallergenic products), ultra niche products and even fusion products (such as cosmeceuticals and nutricosmetics). Technological innovations have helped aid this process as manufacturers adopt techno
10、logies from other fields including from pharmaceutical applications and even electronics. This has seen an increasing reliance on novel delivery systems (such as those relying on nanoparticles, substantiated botanicals and peptides) which allow for specific or targeted applications, including “profe
11、ssional“ type products geared at the mass market. In the foreseeable future new technologies will be harnessed to develop a new generation of green products in line with increasing calls for eco-friendly products and a growing emphasis on sustainability and lower carbon footprints. The expansion of
12、the customer base has also helped sustain the industry despite its maturing status. Within the traditional industrialized markets, manufacturers have sought to extend their product reach by relying on segmentation strategies with products designed by gender, age and even ethnicity. The rise of the i
13、ncreasingly affluent middle classes within newly emerging economies including Brazil, Russia, India and China has also helped expand the industrys customer base and in a number of instances help offset the effects of sluggish/stagnant growth within other geographic markets. It is also important to n
14、ote that rapid economic growth within certain regions has also encouraged the entry of new local and/or regional players, which again has helped offset consolidation/rationalization trends within the more traditional C Givenchy, Bulgari and Guerlain have recently developed baby fragrances while othe
15、r manufacturers have developed aromatherapy style products for children which mimic their adult counterparts. Industry marketing Industry players are spending ever-increasing sums on developing and marketing new products in an attempt to increase demand and product scope in an otherwise mature and s
16、aturated marketplace. The development of the new “fusion“ product segment of nutricosmetics, which link the cosmetics and nutritional supplement markets and which target consumer concerns about aging, is a good case in point. It is also interesting to note that in most developed markets, consumers a
17、re not necessarily increasing the volume of personal-care purchases made. Thus, marketing plays an even more important role in convincing consumers to trade up by promising better quality, multi-functionality and convenience. Fashion trends Of note is the fact that recent years have witnessed segmen
18、ts of the male population become increasingly image conscious, aided in part by increased media exposure including male specific lifestyle magazines as well as reality TV makeover shows. The development of celebrity cults has also affected demand, particularly within the fragrance industry where the
19、re are a growing number of products developed in conjunction with pop stars, models, actors and fashion labels. Food trends are also currently having an effect on beauty trends as they stress the link between beauty and a healthy diet. Consumer attitudes Consumer attitudes towards animal testing or
20、the use of synthetic chemicals (“chemophobia“) may also influence demand as may environmental concerns. Recent years have seen growing demand levels for products containing natural/certified organic ingredients, vitamins and minerals as well as products that are “chemically clean“ and/or “free from“
21、 various chemicals including parabens, sulfates, GMOs, phthalates, fragrances, artificial preservatives etc. They have also seen the rise of “ethical consumerism“ as a growing number of socially conscious consumers take into account the ethical, social and environmental WWW.IBISWORLD.COM Global Cosm
22、etics Manufacturing August 2011 17 consequences of their actions, including their purchasing patterns which have been altered in favor of organic, local, ethical, eco-friendly, fair-trade, Ecocert or carbon neutral products. In 2007, the emphasis appeared not only to be on natural ingredients but al
23、so on organic ingredients. In the first half of 2007, over 1,000 new organic products were launched into the US, French and UK markets, including face-care, body-care and hair-care products. In the case of the UK, the organic personal-care product sector is set to grow by over one-third between 2007
24、 and 2011 as the natural sector becomes increasingly main stream. With fair-trade becoming inextricably linked to organic/natural products, France is thought to be one of the leading players within the fair-trade personal care/cosmetics market, followed by the United Kingdom and the United States. A
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