Slow Growth in Italian Skincare Market as Economy Recovers from Recession
08 August 2013
According to a new report from Canadean, the Skincare sector in Italy is expected to face a decline in value growth up to 2017, following the global economic downturn. The decline, however, is likely to be minimal at a Compounded Annual Growth Rate (CAGR) of -0.1% by value up to 2017. Growth by volume is expected to be slightly positive and forecasted at a CAGR of 0.6% for the same time period.
Declining value shares for all major categories in the Skincare sector
Skincare will continue to remain the largest sector in the Health and Beauty Industry in Italy up to 2017, according to Canadean. However, it is forecasted to rank only eighth for growth among the nine other categories in the sector studied during that period. Slow economic recovery and reduced consumer spending is expected to put pressure on value growth for all major categories in the sector.
Facial care to maintain dominance as depilatories becomes the fastest growing category in the sector
Facial Care, the largest category both by value and volume share in 2012, is expected to witness a volume CAGR of 0.6%, but a slight negative value growth at a CAGR -0.1% up to 2017. The category is expected to maintain its stronghold over the market despite a decline in value. Depilatories, with only a modest contribution of 6.2% both by value and volume in 2012, is expected to be the fastest growing category by volume with a projected CAGR of 0.8% up to 2017.
The rest of the Skincare market is split between Body Care, Make-Up Remover and Hand Care, with the latter forecast to witness stagnant value growth and a small volume CAGR of 0.7% up to 2017.
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