In a news piece from Professional Beauty, the market for professional skincare products in Europe and the US showed signs of fatigue in 2009 but growth is forecast, according to a recent report from Kline & Company.
“The Professional Skincare 2009 Global Series: Market Analysis and Opportunities report… showed that after several years of strong growth, the global market for professional skincare products showed signs of fatigue in 2009. While Europe and the US posted substantial declines, the exception to the trend came from markets in Brazil, Russia, India and China (otherwise known as the BRIC markets). Brazil posted growth of 11.1%.”
Kline industry manager Karen Doskow said: “The recession’s impact in Europe and the US resulted in a change in spending patterns, a decline in the frequency of visits to spas and physician’s offices, and a shift to lower-priced brands.
However, it’s noted that even in the face of the current economy, industry leaders have fought back with “a healthy flow of new product launches, many of which targeted the anti-aging segment.”
The report concludes the professional skincare market for the US is predicted to grow between 5.6% and 11.3% through 2014.
You can find more information on the full report here.
Source: Professional Beauty