Pro skincare market growth driven by wellness and targeted treatments
The global professional skincare market will be worth $13.4bn (£8.7bn) by 2019, growing at an average of 5.82% per year, according to new figures.
The UK market is among the most successful globally. It currently accounts for 3-4% or approximately £240m of the total market and is expected to grow significantly this year, according to analyst Technavio.
Professional brands are expected to see a substantial increase in UK sales driven by high-spending clients experiencing treatments in salons and spas.
There has also been a marked rise in expenditure on take-home professional skincare in the UK, according to Technavio, which said skin-resurfacing, brightening, and anti-ageing products are experiencing the highest growth.
There is a growing trend in the UK for “progressive skin wellness”, being adopted by both women and men. Longer working hours and hectic lifestyles are leading consumers to buy professional rather than mass market skincare, even though the price point is higher, because they believe the high-performance ingredients will give quicker and longer lasting results. They also like the fact that pro products are tailored to solve specific concerns.
However, the biggest threat facing the UK pro skincare market is its limited consumer base, said Technavio. It is heavily reliant on sales of anti-ageing products, used by a very small portion of the population.
Globally, the market is expected to grow 5.82% in 2015, increasing to a rate of 6.49% in 2019. Spas and salons accounted for 62% of sales of professional skincare products worldwide in 2014, the biggest drivers being new multi-functional formulas and an increase in demand for anti-ageing products.
The biggest professional brands globally include Clarins, Dermalogica, Guinot and Murad.
This article first appeared in the October issue of Professional Beauty magazine. To make sure you're always the first to read the news, subscribe to the digital issue for just £4.99 a year, or get 13 print issues delivered direct to your door annually for £37.