Men's skincare market set for growth
Men are paying more attention to their appearance and in particular buying more skincare products, according to market analyst Mintel. In the UK, total spend on men's skincare rose 20% to £91m between 2005 and 2010 according to the new data. Bath and shower products and shaving preparation products also saw an increase of 10% and 11% respectively over the five-year period. The total growth of male grooming products in the UK increased by 16%, up from £1.02bn in 2005 to £1.18bn in 2010. It grew at an average rate of about 3% per year over the five years. However, Mintel said that growth is expected to accelerate this year with a rise of 4.7% to £1.2bn predicted by the end of 2011. The report also revealed that out of 11,353 UK men quizzed, 35% used face creams and lotions in 2010, with 13% of the users applying cream more than once a day. Nica Lewis, global skincare analyst at Mintel, said: 'Men show a huge interest in keeping young looking which has fuelled demand for skincare products that combat signs of fatigue, stress and ageing.' She added: 'Botanical and herbal are the leading product claims among new launches in the men's grooming market. While the success of moisturising products shows an interest among male consumers in facial skincare products that combat dryness.' The whole men's grooming market for the big five European countries - the UK, France, Germany, Spain and Italy - is set to grow a further 8% to be worth ?7.2bn (£6.2bn), up from ?6.6bn (£5.7bn) between 2010 and 2014.
Please enter valid email!
Please enter password!
Keep me signed in
Select for which company you want to login