The Beauty industry could see an additional boost from a variety of sources, including pharmaceutical companies focusing on skin repair and rejuvenation with new at-home treatments coming to market.
While consumer spending per capita rose approximately 3.2% in 2012, sales in the US beauty and personal care market increased 3.4%, mostly from a boost in demand for personal care products. But those traditional sectors are so last year: The industry could start seeing an additional boost from a variety of sources, including pharmaceutical companies focusing on skin repair and rejuvenation5, as well as “cosmeceuticals” – cosmetics that purport to provide health benefits beyond the traditional purpose of just looking good.
In addition, the market for anti-aging skincare products could see continued growth, as new devices and at-home treatments come to market. According to Mintel, more than one-third of American women would be open to trying an anti-aging device, while 40% of US women have used or would be interested in in-home treatments.