With the skincare market a sure way to ensure growth, the men's grooming category is similarly full of promise. These two categories are what's on everyone's lips here at In-Cosmetics, but whereas the formula for skincare is relatively formulaic, the men's category has proved more difficult for the industry to crack.
On the first day of the show two seminars addressed the problems associated with the category, both identifying the fact that, as the category is still relatively undeveloped, companies venturing into it are still feeling around in the dark.
Euromonitor's Claire Briney kicked the proceedings off with a presentation looking at the increasing diversity of product launches in the category. She pointed out how the growth of the market has been inextricably linked with the evolution of the metrosexual man.
Coined by writer Mark Simpson, the term 'metrosexual' refers to "an urban male with a strong aesthetic sense who spends a great deal of time and money on his appearance and lifestyle."
In the past five years the men's personal care category is reported to have grown six fold to reach an estimated market value of $1 billion in the UK alone - a market that many experts view as one of the most progressive in Europe due to consumers' openness to new products.
Briney said that in line with this growth there has been an increasingly wide range of cosmetics and personal care products designed for mens' needs. She also pointed out in relation to this how product formulations have become increasingly complex as they cater more to specific needs.
However, whereas the market for men's grooming is definitely showing signs of becoming more and more complex, it is at the same time becoming polarised. Jonathon Ford, consultant with marketing advisor Pearlfisher, pointed out just how contrary the male grooming market is at another presentation given at In-Cosmetics yesterday.
Acknowledging the fact that the male market is becoming increasingly diverse, he also pointed to the fact that many males are not really interested in multi functionality in their cosmetics, opting instead for the no-fuss and minimalist approach to their personal care routine.
Ford stressed that, whereas formulations and product marketing are getting increasingly sophisticated, at the other end of the scale there is also plenty of opportunity, with ranges such the newly launched Easy For Men - the company behind Easy Jet and Easy car rentals, representing a significant opportunity for product lines offering basic formulations alongside very simple packaging concepts.
Ford said that, compared to some of the recent product launches on the market, the Easy For Men line was relatively unsophisticated, but that at the same time he was certain it would be a success as the market for these kind of products is still very strong.
Given the diversity of this category, the experts view is that, despite the phenomenal development of the male category in recent years and the growing functionality of products available on the market, there is still significant potential at the lower end of the product category spectrum.