The combined market for ethnic haircare, color cosmetic, and skincare products is valued at $1.6 billion, and will grow to $1.9 billion by 2006. Major marketers and small ethnic specialists alike are targeting the prime ethnic population, African Americans, as well as Hispanics and Asians. It is clear that these sectors are growing fast, presenting huge potential; at the same time, the ethnic HBC market can be difficult to navigate. This new Packaged Facts study examines the market’s great promise, as well as its limits. Historical sales data, five-year projections, marketplace influences, new product trends, and demographics (based on Simmons data) are analyzed. The report also portrays the competitive strategies of L’Oreal, Alberto-Culver, Revlon, and others.
Scope And Methodology
Scope of Report
Three main ethnic health and beauty care (HBC) product categories are covered here. They are, in descending order of their retail dollar sales: Hair care, encompassing all manner of hair cleaning, styling, and treatment products that are formulated for home use. Color cosmetics, including all types of facial and nail care products that are used essentially to alter appearance. (Nail care accessories—files, clippers, etc.—are excluded.)
Skin care, including basic fade creams, moisturizers, and cleansers, as well as shaving-related preparations for men. The latter are mainly products that work to minimize the effects of razor bumps. Most of the products mentioned are designed for and used by women. Men also use some. Those that are positioned specifically men are found within the hair care and skin care categories.
Products and services for use by professionals are generally excluded here. However, as in the HBC market in general, there is some crossover of professional products to the consumer market. These products fall within the market parameters defined by this report.
This Packaged Facts report delivers extensive information, in form of both hard numbers and carefully reasoned analysis. The raw data were gathered from primary, secondary, and syndicated sources. Primary research included on-site examination of ethnic HBC products as displayed and sold through retail stores, as well as consultations with industry executives. Secondary research involved the culling of data from articles appearing in financial, marketing, and trade publications. Companies’ own literature, as well as independent financial reports, were used.
Statistics on market value, growth trends, and marketer/brand shares are based on careful scrutiny of all the available data on sales and marketplace conditions. In particular, market size and share estimates are based in some degree on proprietary data supplied by Information Resources, Inc. (IRI); yet, once again, data from a broad range of sources are factored in.
Individual marketers’ national consumer advertising expenditures are derived from Competitive Media Reporting (CMR) data, as published in the trade press. Analysis of demographic factors in the purchase of ethnic HBC products is based on syndicated survey data from Simmons Market Research Bureau, Inc.
Retail Sales of Ethnic Health and Beauty Care Products to Near $1.9 Billion in 2006
New York, May 6/PRNewswire - Health and beauty care products specifically formulated for the growing American ethnic populations present immense potential for major marketers in the HBC arena. According to The U.S. Market for Ethnic HBC: Hair Care, Skin Care, Color Cosmetics, a newly published Packaged Facts report available at MarketResearch.com, the size of both the Hispanic and Asian American population segments will increase over 30% between 2001 and 2010, and the African American population will increase 12% in the same time period. This tremendous growth of minority populations within the United States will inevitably create greater demand for hair care, skin care and cosmetics products that address the needs and desires of a diverse population.
Major marketers within the HBC industry are looking to the ethnic product arena as a new source of potential income within what has traditionally been a very stable and mature HBC market. As large corporations have entered the ethnic niche, the resources devoted to research and development for products specifically designed for minority populations has exploded, bringing a flood of new products into the marketplace.
“The market for ethnic health and beauty care products is projected to grow by almost four percent in the next 5 years,” said Meg Hargreaves, VP of Research Publishing for MarketResearch.com. “Compared to the very flat growth rates we historically see in the health and beauty care sector, this sort of expansion is extraordinary.”
The U.S. Market for Ethnic HBC provides detailed information about consumer demographics, as well as distribution and marketing trends, product development, and emerging promotional campaigns. The report also includes historical sales data, as well as market projections through the year 2006.
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