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European Market for Vitamins in Personal CarePublished by: Frost & Sullivan Published: May. 23, 2008 - 43 Pages Table of Contents
AbstractThis Frost & Sullivan research service titled European Market for Vitamins in Personal Care analyses the market in terms of revenues and unit shipments by product type. A comprehensive market overview includes revenue forecasts, competitive structure and market share analysis. This study also reviews the principal drivers and restraints for the industry. In this research, Frost & Sullivan's expert analysts thoroughly examine the vitamin A, E, C and B3 markets.Anti-Ageing Properties Support Enhanced Use of Vitamins in Personal Care Applications Heightened consumer awareness coupled with the rising inclination towards natural ingredients is spurring the growth and application of vitamins in personal care products across Europe. "The mounting preference for anti-ageing and anti-wrinkle products is the key factor driving the application of vitamins in personal care products," states the analyst of this research. "The ability of vitamins to combat symptoms of ageing has led to their inclusion in several personal care products." Nearly one-third of Europe’s population comprise of people in the age group of 50 years and above. People who fall under this demographic profile have higher disposable incomes and are willing to spend more money on cosmetics that retard signs of ageing. These trends have promoted the uptake of anti-ageing and skin-firming products in Europe. In this context, vitamin E is an effective anti-oxidant that fights aging signs and symptoms, while vitamin A also possesses the ability to even out wrinkle formations on the skin. Europe accounts for the largest share - approximately 37.0 per cent - of the global market for cosmetics and toiletries. Sustained end-user demand for cosmetics will support the continued uptake of vitamins in this application area. Strict EU legislations governing cosmetics and their claims have spurred vitamin manufacturers to constantly upgrade and improve their formulations. Clinical studies have successfully sought to demonstrate that vitamins such as A, C, E and B3 possess excellent anti-oxidant properties that are suitable for topical applications. These proven results have increased the inclusion of vitamins in skin-care and other cosmetic applications. Competitive, High-Quality Imports from Asia Pose Significant Challenge The European market for vitamins in personal care is mature and will remain stable as long as there is sustained demand for personal care products. However, the presence of competitive, high-quality imports from Asia Pacific threatens the prospects of vitamin manufacturers in Europe. Vitamin manufacturers, especially those of vitamin E and C are significantly affected due to the imports from Asian countries. Although these manufacturers are yet to monopolise the European market, pricing pressures in the vitamin E and C markets are considerable and are dampening revenue growth rates. "Import of better quality vitamins from Asian countries has made it vital for European manufacturers to focus on product differentiation and quality, rather than on price," advises the analyst. "Such product differentiation together with a sustained focus on R&D will result in the increased application of vitamins in cosmetics and boost the prospects of European manufacturers." Collaborative initiatives with Asian manufacturers and the establishment of production facilities in Asian countries will also help European manufacturers tackle pricing issues. Get Full Details About This Report >> |
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