Graceful
aging makes a big mark on consumer launches
With 2005 proving to be a record year for consumer launches
of all sorts, industry experts say that
products claiming to counteract signs of
aging in a gentle and believable manner will
continue to lead the way in 2006 as the
drive for youthful looks marches
relentlessly on.
With more than 156,000 new products hitting
store shelves in 2006 equating to one launch
every three minutes across the world, the
latest report from the Mintel Global New
Products Database (GNPD) indicates that
innovation is likely to continue as a key
driving force in 2006 throughout all
categories, age-defying treatments look
likely to lead the way.
With the food and beverage industry proving
to be the most active category, cosmetics
and fragrance came a close second, as
consumers continued to look for increasingly
diverse products addressing very specific
requirements.
"Globally we have seen a significant rise in
a variety of products," said Lynn Dornblaser,
director of Mintel Custom Solutions.
"Consumers are looking for more products
that address their individual needs, and
this is resulting in more product offerings.
There is a particular focus on catering to
the aging consumer, specifically in the
non-foods product categories."
On the non-food product front, Mintel said that more than 68,000
new products were launched internationally
with cosmetics, skincare and hair care
leading the way, although overall the
category launches remained relatively level
to the previous year.
The figures also revealed that in the US
alone more than 13,000 non-food products
were launched, with cosmetics and skincare
innovations driving the numbers.
Key to the growing number of anti-aging
cosmetic products on the marketing is the
aging global population, which is creating a
huge market for age-related products that
continues to be tapped into.
Companies worldwide are racing to develop
new anti-aging skincare technologies, in the
rush to meet consumers needs. One
significant step is proving to be the
expansion of formulations that include
nanotechnology, which is being used to
increase the efficacy of of a range of
anti-aging products.
Skin care launches featuring this technology
have tended to be most prevalent in Asia,
where attitudes to the latest science tend
to be more open. Recent launches to include
the technology in Japan, the leading Asian
market, have included, Germatika Ageless
Cream and a moisturizing liquid from
Ishizawa.
Microdermabrasion has also proved to be a
big new sub-category, with Neutrogena and
Oil of Olay both recently launching home
microdermabrasion systems in the US,
positioned as skin renewing products.
As well as wrinkles, tiredness is also
beginning to surface as a new skin ‘issue',
as Dornblaser points out, "Some new products
are focusing on battling tiredness, a key
trait that can actually accelerate the skin
aging process. Products such as L'Oreal
Europe's Infallible foundation are claiming
to resist against the signs of tiredness,
which can be felt at any age. It presents
more preventive versus reactive options for
consumers."
The emergence of this category falls in line
with consumers' desires to buy customized
skin care products, reflecting a far more
discerning and sophisticated consumer.
Mintel points to the Mademoiselle Bigoudi
skincare products in France as being a prime
example of this.
It targets consumers who want personalized
treatments, with face creams that can be
customized by skin type or even specific
protection, such as a Cigarette Smoke
Protection formula.
With the trend towards more targeted skin
care and cosmetic products still driving
growth, it seems that 2006 is likely to be
another year of strong activity on the
launch front, with any number of new and
ever-ingenious sub-categories likely to
evolve.