UK ageing population will drive anti-ageing skin care research: report
‘Toiletries’, from market research company Key Note, revealed the market for skin care products increased 5 per cent to a value of £2bn (€2.4bn) in 2009, with premium-priced anti-ageing products identified as the key growth driver.
The report predicted that more scientific research will lead to increased launches of skin care products claiming to slow the visible signs of ageing, particularly research carried out on the role of genes and proteins in the skin.
Lancôme Génefique
Key Note highlighted Lancôme’s Génifique Youth Activating Concentrate as an example of such a product. Based on genomic research and containing cell boosters that the company claims help to trigger the skin’s own growth factors, Génifique was launched in 2009 after ten years in development.
Despite costing £50 for 30ml, said Key Note, it is the most successful skin care product in the 75 year history of the L’Oreal-owned brand.
The success Lancôme’s Génifique has demonstrated despite the recession, shows that consumers were not always quick to downgrade from premium to mass skin care.
The report stated that many consumers continued to purchase more expensive products as they were viewed as ‘affordable treats’ or opted for premium at-home products rather than salon visits.
Market worth
The market for products claiming to influence the biological performance of the skin as well as improving appearance is estimated by Key Note to be worth close to £150m.
Not only do these products offer consumers a chance to upgrade their skin care routine, said the market researcher, but they can be seen as a cheaper and less risky alternative to cosmetic surgery or non-surgical procedures.
However, with many new, premium-priced products making similar claims, it is probable that more consumers will seek specialist and personalized advice before making a purchase, it was noted.
