Euromonitor: Iranian skin care market to reach 4.6 billion by 2015
According to the market researcher, the Iranian skin care market is booming due to marketing and advertising activities which boosted the sector by 24 per cent in 2010 to reach IRR3.2 billion (US$0.3 billion).
The research carried out by market analyst Irina Barbalova, Head of Beauty and Personal Care, reveals that a growing youth population and changes in consumer patterns will ultimately place the category at a value of IRR4.6 billion by 2015.
“This rise was also helped by the fact that higher oil prices – one of the country's leading industries - have contributed significantly to an increase in average national income," she adds.
Barbalova says both international and domestic skin care brands have successfully expanded in Iran by encouraging awareness of specific skin care routines by targeting pharmacologists and dermatologists.
Anti-aging products are said to have achieved the strongest growth, expanding by 26 percent to reach a total of IRR195 million in 2010, a rate the industry analyst reckons will be sustained over the forecast period.
“This growth is being driven by women who are becoming increasingly aware of facial care thanks to greater familiarity with product offerings.”
Furthermore, Barbalova says premium products are gaining ground, particularly in the facial care category where women are more inclined to opt for better quality products if they are affordable.
“Nivea remains the single most popular brand, however other significant domestic players like ACT Cosmetics gained an 8 percent share in 2010.”
Speaking of Nivea...
In 2010, Nivea generated sales of €6.19bn in over 200 countries. Last year, Beiersdorf announced it was investing in the brand in order to strengthen its long-term position by launching the Nivea Pure & Natural face and body care line.
Then, Cora von Meysenbug, director of corporate communications told Cosmetics Design that it planned to enhance its skin care expertise to participate in the growth of the fastest developing segment of the global cosmetics market.
“The cross category launch of Nivea Pure & Natural positions Beiersdorf in the growing natural cosmetics market and meets the wishes of many consumers for natural yet highly effective skin care products,” said von Meysenbug.