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Scientific skin care holds vast opportunity

By Andrew McDougall+

25-Jul-2014
Last updated on 25-Jul-2014 at 12:47 GMT

Scientific skin care holds a great opportunity for beauty manufacturers as it merges the cosmetics industry with the medical industry, and the segment is tipped for growth.

According to market researchers Diagonal Reports, the natural and alternative medical traditions inspire scientific skin care products and treatments, and the market has seen growth over the last few years.

“Our recent research shows that the scientific skincare category continues to grow,” says Diagonal. “The reality is that scientific skin care draws on ‘alternative’ (also known as ‘natural’) medical traditions – both products and practices - from around the world.”

Outside the box

The report explains that in alternative medicine the natural and the scientific are not mutually exclusive concepts, such as with Traditional Chinese Medicine in Asia.

“This fundamental misunderstanding about market reality and consumer attitudes probably explains why legacy beauty brands have largely ignored - or missed - the category,” explains Diagonal.

“They failed to appreciate the sea change in the skin care market. They are still working ‘within’ categories. But it is the innovations from outside the cosmetic box – mainly new and small brands – which are meeting consumers' requirements for effective skin care.”

History

Diagonal Reports has been documenting how consumers’ expectations of what a skin care product might, or should, deliver for the past six years, and note that it has ‘dramatically changed’.

Evidence of this can be seen in formulations influenced by the pharma sector, which in some cases has revolutionised skin care.

“Scientific skin care democratised the beauty market making types of products and treatments, which had been for the elite, more affordable and widely available. These innovations blurred sales channels and product formats,” comments Diagonal.

The research firm believes that significant sales have been missed and the true size of the market underestimated because of an insistence in seeing as separate what is not; stating there is a big opportunity here for manufacturers.

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