Published on : Jan 18, 2018
Albany, New York, January 18, 2018: The U.S. market for skincare is highly saturated, with brands facing challenges to cater growing consumer demand for simplicity and their routine shopping behavior, which in turn is keeping product trials in check. Focusing on unique provisions for capturing the consumer attention, such as on-the-go formats and Korean skincare trends, are likely to nurture category growth. Eco-ethical claims are also anticipated to mount, with familiar, food-derived ingredients including Manuka honey and apple cider vinegar supporting the trend toward natural and organic skincare products. A new report has been added to the vast reservoir of Market Research Hub (MRH), titled “Skincare Ingredient and Format Trends – US – December 2017”.
Brands Focusing on Differentiating their Product Offerings on account of Highly Saturated Nature of the Market
The U.S. adults are continuously seek functional, easy-to-use formats while shopping for skincare products, which explains the popularity of sheet masks and wipes in the region. Consumers here spend heavily on facial skincare, owing to widespread availability of the premium priced options coupled with regimented approach toward facial skincare routines that lead to purchasing of multiple products. On account of the highly saturated nature of skincare ingredient and format market in the U.S., brands often shift to exotic and unique ingredients for differentiating their product offerings.
Several industry sources have suggested that cannabis will be the next huge anti-aging ingredient, with dermatologists reporting cannabis to comprise anti-inflammatory characteristics that neutralize sun damage. However, they suggest that these benefits can be realized only by using the ingredient topically in skincare products. Manufacturers of skincare ingredient and formats in the U.S. are eyeing Asian skincare trends as an inspiration for product innovation. Although BB creams and products implied for nighttime use remained popular in the recent past, new product developments are taking the Asian skincare influence one step further by incorporating unique ingredients such as bee venom & formats for sheet masks as a stand out product offering.
Natural Skincare Ingredients being focused on Inspiration from Food
Natural skincare ingredients are heavily being focused on the inspiration from food, utilizing options familiar to consumers such as almond oil, argan oil, and coconut oil familiar, at the same time supporting the gentle/natural theme. For instance – Tony Moly Magic Food Cucumber Water Gel is soothing, refreshing, and watery gel enriched with aloe and cucumber water. Similarly, Perricone MD utilizes eggshell membrane, and claims that the ingredient restores and rejuvenates the health of skin.
The report offers insights and forecast on the U.S. skincare ingredient and format trends on the basis of a segmentation analysis. Imperative market numbers associated with the segments that are most significant have been offered in the report. Key factors responsible for growth of these segments, as well as factors restraining their proliferation have been engulfed in the report. Concluding sections in the report offer analysis on the market’s competitive landscape, and provide insights on the market players with the help of SWOT analysis. Profiling the market players exhaustively, the report provides information about recent developments made by them, and key strategies being adopted for retaining their competitiveness in the market.
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