Russian skincare market on course to grow significantly: Report

The overall skincare market in Russia has experienced a significant growth in the last six years and is on the course to continue momentum, according a new survey by UK-based research firm Canadean – Health & Beauty.

During 2006-11, Russian skin market has grown by more than 30% and is poised to grow furthermore to about 43% by 2016, according to the report, ‘The Future of the Skincare Market in Russia, to 2016’.

Russians are likely to demonstrate increased passion for facial care, compared to other skincare segments in the next five years, which is set to record a compound annual growth rate (CAGR) of 8.04%, nearly double the CAGR of 4.16% registered in 2006-2011 review period.

Body care, however, emerged the lead segment of the skincare market through 2006 to 2011 in value terms, which accounted for up to 42% of share in 2011, observed the report.

Canadean expects body care market to grow remarkably in 2011-2016 forecast period, with a projected market value share of 45% by 2016.

Facial care, which is estimated to hold about 27% share by then, stands next to body care followed by depilatories, make-up remover, and hand care in terms of value.

The survey also provides Russian skincare market volume analysis by brands and market value by distribution channel for each of the segment between 2008 and 2011.

Click here for more details of the report.