Health and wellness drive cosmetics innovationThe Euromonitor report, entitled 'The World Market for Cosmetics and Toiletries,' points out that increasing consumer concerns for health and wellness have had obvious repercussions for markets such as packaged food and over-the-counter (OTC) healthcare, but that its research has also found that it has become an increasingly influential factor in the cosmetics and toiletries market.
Vitamin enriched cosmetics lead the way
Over the course of the last decade, cosmetics and toiletries manufacturers have taken advantage of the burgeoning global health and wellness trend by launching a plethora of hair care and skin care products containing a variety of vitamins, to the extent that vitamin-enriched products are now mainstream.
Things went a step further last year when L'Oréal and Procter & Gamble forged joint ventures with Nestlé and Pharmavite respectively to expand into OTC dietary supplements, encouraged by trends indicating that consumers are increasingly keen to co-ordinate health regimens with beauty practices.
The Nestlé/L'Oréal joint venture heralded the launch of Innéov Fermeté (an anti-ageing formula), while Procter & Gamble and Pharmavite jointly launched Olay Vitamins.
More recently, this month roles were reversed somewhat as Healthspan, a Guernsey-based mail order vitamin supplier for the UK market, launched a dedicated range of make-up and skin care products which target women aged between 45 and 60.
Cross-market development set to increase
Euromonitor says that it expects these developments will become increasingly common. Karine Peyre, the research group's cosmetics and toiletries analyst, said, "At Euromonitor we see that the potential for cross-market development is set to increase. This is due in part to the deregulation of many healthcare sectors, which has made consumers increasingly familiar with a wider range of OTC products. Intense media focus on health issues is also crucial, as this is continually refining consumer health awareness and stimulating increased interest."
The likelihood of such developments will be bolstered by the increasing technological sophistication of cosmetics and toiletries products, particularly in sectors such as skin care, and by the more explicit targeting of consumer groups.
"As manufacturers introduce products aimed at specific groups, they are increasingly focusing on addressing specific matters such as the effects of ageing or sensitive skin. Consequently as more advanced products are developed the line between medical and cosmetic application becomes blurred," Peyre said.
USA cosmetics and toiletries market key
Euromonitor research shows that this trend is widespread in the US market, as US consumers are becoming increasingly convinced that beauty starts with 'wellness'.
Retailers are increasingly linking their beauty lines to non-beauty products, positioning health products, like vitamins, in close proximity to cosmetics. Manufacturers for their part are introducing cosmetic lines that tout claims often found in OTC products, like Sally Hansen's Healing Beauty Fast and Flawless make-up line, with products featuring anti-wrinkling and acne-fighting ingredients.
The market is clearly strong for cosmetics and toiletries products that associate themselves with wellness, with many lines now routinely infused with vitamins and increasingly with natural and herbal extracts.