Saturday, May 11, 2019

Big and Bigger?

What's Big and Getting Bigger?

Port Washington, NY, January 29, 2019 – The U.S. prestige beauty industry reached $18.8 billion in 2018, a 6 percent sales increase over 2017, according to The NPD Group. The skincare category grew by 13 percent and contributed 60 percent of the industry’s total gains.
If I had to use one word to characterize the state of the U.S. beauty industry today, it would be disruption. Whether we look at categories, brands, or retailers, there are sweeping changes taking place to the market landscape,” said Larissa Jensen, executive director and beauty industry analyst at The NPD Group. “New retail concepts and technologies are changing the way we create, market, purchase, and use beauty products. Brands and retailers must not only be cognizant of these transformations and act upon them, but identify new white space opportunities to captivate consumers and further differentiate themselves from the crowd.”
Skincare sales were $5.6 billion for the year, and natural brands remain a top contributor to growth. Natural skincare accounted for $1.6 billion or more than one-quarter of annual sales, up 23 percent versus last year. The fastest-growing segments within facial skincare were lip treatments, toners/clarifyers, and all other face treatments.

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And then, this:

Global Cosmetic Products Market Will Reach USD 863 Billion by 2024: Zion Market Research

According to the report, global cosmetic products market was valued at around USD 532 billion in 2017 and is expected to reach approximately USD 863 billion in 2024, growing at a CAGR of slightly above 7% between 2018 and 2024.


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So, what's up next for Bocannaco?

Stay tuned....!!

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