With 1.5 billion euros, up 9.3% and a 17% share of total cosmetics consumption, products dedicated to skincare in Italy represent the main consumer family. In particular, that sold in perfumery grew by 20% in 2021 and that in pharmacies by 4.6%. Anti-wrinkle creams rose by 9%, eye contour products increased by 15.4%, those for impure skin by 14.2%, skin lighteners by 11.9%, face masks and exfoliants by 11 .2%, detergents and make-up removers by 10.1%. A phenomenon that is reflected worldwide. According to the research firm Fortune Business Insights, in fact, the skincare market is expected to exceed 145.8 billion dollars in 2028, from 100 billion in 2021, with an annual growth rate of 5.5%.
Thanks to the pandemic and the repeated lockdowns, personal care habits have changed and skin care has become one of the most important beauty rituals for both men and women who use products to cleanse, nourish and hydrate on a daily basis. Preferably natural. Again, the trend of treating skin problems such as acne, for the youngest, blemishes, scars increases, which increases interest in scrubs, sunscreens and corrective creams; just as the demand for men’s grooming products is growing. Among the most recent launches by Svr are the Topialyse and Xerial lines which respond to specific needs for the body and skin, with two products created ad doc: Topialyse Creme, a soothing anti-irritation fluid cream for the face and body; and Xerial 10 Lait Corps, a daily treatment body lotion for flaky, chapped and rough skin. While the very Italian Bullfrog presents Blue Botanical, a line dedicated to men: five treatments based on natural ingredients designed to improve the level of hydration of the skin, making it more toned, relaxed and radiant thanks to the exclusive Blue Botanical Complex, an seaweed.
Beauty giants move in an extremely competitive scenario – L’Oréal, Shiseido, Unilever, Procter & Gamble, Estée Lauder, Beiersdorf just to name a few -, smaller specialized realities and celebs between partnerships, acquisitions and new launches of products and services . Without forgetting research and innovation, priority elements more than ever for this category of increasingly hi-tech products.
Skincare is one of the developing assets for Coty which ended the 2021-22 fiscal year with revenues of $5.3 billion, up 15% from the previous year and with net income of 55.5 millions. “Skincare has been part of Coty’s DNA for over a century and represents a great opportunity for growth,” said Shimei Fan, Coty’s chief scientific officer. The market is expected to increase driven by growing consumer demand and we expect it to have a major impact on the company’s business especially in China and the United States.”
And he adds: «We have brands that cover all trends, price ranges and geographies, both in the prestige and consumer divisions. The development of the skincare axis will push our strengthening in China and, more generally, in Asia, markets where facial treatments and travel retail play a fundamental role”. It will start next year with the global launch of Orveda, an ultra-premium, vegan and genderless brand linked to scientific research on the microbiome. Philosophy will also be relaunched, with the introduction, by 2024, of lines renewed and reformulated to be clean, vegan and cruelty free.