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Underwhelming Outlook for the Spanish Skincare Sector to 2017

27 August 2013

Value growth will be hard to achieve for Spain’s Skincare sector, thanks to unfavourable economic conditions, according to market research firm Canadean. Most categories across the sector will see little volume growth with no or negative value growth.  

The Spanish Skincare sector is forecast to witness an unimpressive Compound Annual Growth Rate (CAGR) of 0.6% in terms of volume. In terms of value, a minimal decline of -0.1% is projected up to 2017. A deep recession, unemployment levels above 25% and the impact of the Eurozone crisis mean that achieving value growth remains extremely difficult. As a result, all categories in the sector are expected to witness decline in value share, or at best, stagnation. Skincare will remain the largest sector in the Health & Beauty industry in Spain, but ranks only sixth place out of the nine Health & Beauty sectors for growth during 2012–2017.

Body Care, with a forecast value CAGR of 0.0%, and volume growth at just 0.7%, is expected to be the strongest performing category sector. These low figures highlight the problems faced by the Spanish Skincare sector in the current climate. Hand Care and Make-Up Remover are also projected to perform above the line, with identical value and volume CAGRs of 0.0% and 0.6% respectively. In slight contrast, the largest and smallest categories in the sector, Facial Care and Depilatories, each recorded a volume CAGR of 0.5% and a negative value CAGR of -0.2%.

Underwhelming Outlook for the Spanish Skincare Sector to 2017

All top three channels have gained share over the past few years

The top two distribution channels, Hypermarkets & Supermarkets and Health & Beauty Stores, together accounted for just below 75% of the Spanish Skincare sector. These channels, as well as Drug stores & Pharmacies, all recorded a slight growth in share in recent years. In contrast, Department Stores witnessed stagnation, whilst Convenience Stores and “Dollar Stores”, Variety Stores & General Merchandise Retailers saw their share fall.

These findings are based on information from Canadean’s report: “The Future of the Skincare Market in Spain to 2017”, published in August 2013.

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