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Cosmetics & toiletries maker kline declares high five year growth
30 Aug '06
3 min read
According to Kline's study, COSMETICS & TOILETRIES USA 2005, the fastest-growing categories in 2005 included lip balms, deodorants and antiperspirants, manual toothbrushes, and men's skin care products. These categories benefited from product enhancements such as anti-wrinkle and firming formulations for lip balms and product innovations such as improved toothbrush design.
Other categories like hair styling products and facial treatments will also continue to grow over the next five years as they benefit from innovations and technological advances, especially for anti-aging features. Gender-specific brands targeting the male consumer have also boosted growth in some categories. Meanwhile organic or “natural” products are becoming increasingly popular and are seeing wider distribution as this trend escalates.
To capitalize on the effects of these trends, companies are jostling for market position using a variety of strategies. L'Oréal has stated its intentions to grow the company through further acquisitions, while Unilever is focusing on core businesses and divesting smaller brands. Kao is the fastest growing of the major companies, leading the field with growth of more than 15% in 2005, largely due to product innovations.
“A shift toward premium and gender-specific products has marketers rethinking product offerings and brand strategies,” says Susan Babinsky, senior vice president and head of Kline's Consumer Products consulting practice.It's prompted a move towards innovation and meaningful product launches that are capturing consumer interest. It's innovation that's really going to determine the industry leaders over the next five years.”
Other categories like hair styling products and facial treatments will also continue to grow over the next five years as they benefit from innovations and technological advances, especially for anti-aging features. Gender-specific brands targeting the male consumer have also boosted growth in some categories. Meanwhile organic or “natural” products are becoming increasingly popular and are seeing wider distribution as this trend escalates.
To capitalize on the effects of these trends, companies are jostling for market position using a variety of strategies. L'Oréal has stated its intentions to grow the company through further acquisitions, while Unilever is focusing on core businesses and divesting smaller brands. Kao is the fastest growing of the major companies, leading the field with growth of more than 15% in 2005, largely due to product innovations.
“A shift toward premium and gender-specific products has marketers rethinking product offerings and brand strategies,” says Susan Babinsky, senior vice president and head of Kline's Consumer Products consulting practice.It's prompted a move towards innovation and meaningful product launches that are capturing consumer interest. It's innovation that's really going to determine the industry leaders over the next five years.”
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