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About Euromonitor International
We’re a global market research firm with a focus on fast moving consumer goods, founded in 1972
With offices in London, Chicago, Singapore, Shanghai, Vilnius, Dubai and Cape Town
Research is conducted in 80 countries around the world In-country researchers add primary market awareness Research uses standardized definitions in all countries Sources include trade press, trade interviews, company analysis, industry
associations, official statistics, local store checks
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Today’s Agenda
Snap shot of the Global Cosmetics & Toiletries Market What trends are emerging in the current environment
Defense against the effects of aging gains prominence Going ‘green’: rising demand for natural and organic ingredients Male-specific products gain acceptance among global males Rising demand for ethnic specific products
Future outlook
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State of the Global Industry
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Emerging markets
North America57.2b US$
Latin America
41b US$ Middle East and Africa
12.6b US$
Asia Pacific70.9b US$
Eastern Europe20.9b US$
Western Europe 83.7b US$
Australasia4.3b US$
+3.8
+4.3%
+1.8% +11.3%
-0.5%
+6.2%
BRIC drives growth in the global market. Local leading brands get aspirational and are starting to expand Expansion of major stores, direct selling are boosting the sales.
+1.8%
+15.0%
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Key Trends – Anti Aging
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2007: US$17.2 billion Global Anti-Aging Market
2007 Value US$ 02-07 CAGR Forecast 07-12 CAGR
Nourishers/anti-agers $14.9 billion 10.8 7.5
Firming/anti-cellulite body care $2.3 billion 12.9 6.0
Global skin care market: US$65.7 billion in 2007
Global cosmetics & toiletries market: US$291.0 billion in 2007
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Japan: 9% of global nourishers/anti-agers value sales and 2% of global population
Western Europe: 34% of global anti-agers sales and 7% of global population US: 15% of global anti-agers value sales and 4.5% of global population Huge demand for anti-aging stimulating NPD across all products
Anti-Aging Statistics
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The Global Aging Population Increasing Demand for Anti-aging Products
% of population 50 and Older 1990 2007 2020
World 16.8% 20.4% 24.7%
Asia (Excluding Japan) 14.3% 19.4% 25.2%
Latin America 13.5% 17.5% 23.0%
Middle East & Africa 10.1% 10.8% 12.4%
North America + Western Europe + Japan 28.1% 33.5% 38.7%
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Baby Boomers Have Money to Spend
US Consumers aged 50-59 year olds have
the highest average income
Many are empty nesters
Spending on themselves
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Today’s Grandmother: Smart, Sexy, Active
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Today’s Anti-Aging Consumers: A Diverse Group
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Key Trends – Going Green
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Growing Interest in Going “Green”
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Growing Awareness of Health & Wellness Increases Demand for Natural and Organic Personal Care
Consumers are focusing on what they put in, on and around their bodies Growing health consciousness in developed countries has led to strong
growth in organic foods & beverages Personal care products which contain organic or natural ingredients are in
demand
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Use of the term “natural” remains largely unregulated Attempts to define natural personal care are underway
Largely industry-led Whole Foods launches its own standard Natural Products Association standard
Organic certification in personal care is left to national associations In Europe, Soil Association, Ecocert, BDIH and AIAB are working to
harmonize standards The USDA is the main certifying body in the US, but standards were
designed with food in mind
But What is Natural?
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A Global Trend with Different Cultural Nuances
Consumers in developed markets demand authenticity from natural/organic brands
Latin America and Eastern Europe also show strong demand yet are less concerned with the claim’s validity
In Asia-Pacific, natural products are seen as a down-market alternative to imported standard brands
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Key Trends – Men’s Grooming
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19
Men’s Grooming is Not a Fad
The meaning of “looking good” is changing Untapped opportunity Male-specific products only 8% of global personal care market Men = Loyal Customers
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Men’s Grooming Snapshot
0
5000
10000
15000
20000
25000
30000
2008 2009 2010 2011 2012
Value US$ millions
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
CAGR
Men's grooming products Men's Skin + Hair + BathMen's grooming products growth Men's Skin + Hair + Bath growth
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Men’s Grooming: Emerging Sectors
0
10000
20000
30000
40000
50000
60000
70000
2007
Value US$ millions
Bath and shower Men's bath and shower Hair care Men's hair care Skin care Men's skin care
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22
Global Men’s Grooming: Growth Drivers
Rise of well-groomed man is key to success of men’s hair, skin and bath and shower care
Men not afraid to indulge in traditionally feminine personal care routine Younger generations offer significant opportunities Older men taking greater care in appearance Men’s hair care underdeveloped with prospects in shampoos and conditioners Skin care, most ‘feminine’ men’s grooming category, will see strongest growth
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Key Trends in Men’s Grooming
Potential for continued growth Education key Men still secondary buyers High loyalty
Mass brands increasing penetration Increasing sophistication in mass products: anti-agers, self-tanning, moisturizers
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Key Trends – Ethnic Hair Care
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Ethnic Hair Care – Developing Markets
The demand for ethnic specific products has increased US is the largest market for ethnic products followed by South Africa Globally perms and relaxants sector grew by almost 11% in 2007
Annual disposable income Year on year growth 06 - 07 07-12 CAGRBrazil - R$ mn 10.6 9.2South Africa – R$ mn 14.3 11.4
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BRAZIL Significant concentrations of people of African descent Ethnic brands have a limited share of sales Rising disposable incomes among consumers will contribute to increase the
sales over the next five years
SOUTH AFRICA South Africa is a major consumer of hair care products because of demand
from black middle class Increased distribution and advertising campaigns have ensured the growth Leading ethnic hair care brands are enjoying increased shelf space and are
present in most leading retail stores Treatment products such as leave-in scalp treatment serums are likely to
become more popular
Brazil & South Africa – Hair Care
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US Ethnic Products Ethnic specific products are competing directly
against premium quality hair care Beauty trends towards more natural hair styles
among African-Americans have further depressed sales growth
Sector growth has been driven by products that contain natural ingredients or have treatment/repair properties
Consumers demand products that actually moisturize while improving manageability and style
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In Conclusion
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Conclusion
Anti-ageing Penetrate other personal care sectors, new demographics
Natural ingredients Demand is there, but need to be better defined Well-groomed male Here to stay Ethnic hair care Opportunity driven by rising disposable income
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Thank YouRoman Shuster
Research Analyst
Euromonitor International
For a copy of today’s presentation, please contact me:312-922-1115, ext. 8267