BusinessTrends-2013....Targeting
the beauty seekers
When it comes to anti-aging solutions, beauty seekers are
starting to thumb their noses at injections in favor of
"cosmeceuticals," personal-care products with hypothetical
skin-enhancing ingredients.
Market research group IBISWorld estimates that
cosmeceuticals accounted for 13.4 percent of the $54.9 billion extensive cosmetics
and beauty-products market in 2012--a monstrous $7.4 billion. Another exploration
firm, Freedonia Group, predicts that stipulate for cosmetic chemicals will jump
4.9 percent per year to reach $9.4 billion by 2016.
This growth will be determined by products publicity
"active and natural" ingredients like rice-enzyme powders and tropical
forest plant extracts, such as those from Lily Herbceuticals--which uses unusual
ingredients like the Tibetan Snow Lotus, a flower that survives in the
Himalayas at 21,000 feet above sea level and 70 degrees underneath zero--and
Personal Cell Sciences' U Autologous, a skincare line that incorporates
customers' own stem cells in the overhaul of anti-aging.
Lindsey Guest, founder and CEO of San Francisco-based BeautyArmy,
a year-old tech company that uses algorithms to match individuals with
personalized beauty samples, says the number of skincare lines on the market
has quadrupled over the last five years. It's an especially lucrative category
because of an urban and affluent customer base willing to pay a premium for the
latest innovations. "They don't want to use what their mothers and
grandmothers used, and a new algae or deep-sea ingredient really
resonates," she says.
Dan Obegi, CEO of Los Angeles-based DermStore, the leading
e-tailer of physician-strength skincare products, agrees. "There's new
demand as beauty influencers and tastemakers get older and become more concerned
in these types of products," he says. Derm-Store has observed annual
growth of 50 percent for the last three years. Its parent company, Intelligent
Beauty, which expects 2012 proceeds of $450 million, has introduced a
cosmeceutical incline into other verticals, such as shampoos that treat split
ends.
Katia Beauchamp, co-founder and co-CEO of Birchbox, a New
York City-based discovery shopping service for beauty, grooming and lifestyle
products, says that no subject the age of the consumer, spending is trending
toward higher-performance products. A recent company survey discovered that BB
creams--all-in-one products that work as a, primer ,moisturizer, serum,
foundation and sunblock and were initially developed to protect skin after
cosmetic surgery--are now finding conventional use as a daily skincare option
and are most popular among the under-21 set. And let's not forget the ever-growing
opportunities in the racial and male-grooming markets, worth $3 billion and
$2.6 billion, correspondingly, by some counts.
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