Spanish skincare market to experience slower growth in future: Report

Spanish skincare market is likely to witness a slower growth rate in the next five years compared to 2006-11 period, according to a new survey by UK-based research firm Canadean.

According to the report ‘The Future of the Skincare Market in Spain, to 2016’, the industry’s compound annual growth rate (CAGR) is forecasted at about 1.15% during 2011-2016, down by less than half from 3.04% that it posted in the review period.

All the segments including body care, depilatories, facial care, hand care, and make-up remover are estimated to follow the trend with a significant drop in the growth rate.

In value terms, facial care had outshone all the remaining segments from 2006 through 2011, retaining a notable share of around 65%, the report observed.

Canadean’s survey revealed that facial care would continue the momentum up to 2016 in Spain, when it is expected to held a similar 65% of market share, followed by body care, depilatories, hand care and make-up remover at the bottom.

Spanish consumers, however, have shown a fondness towards depilatories over facial care in the review period and the report expects the uptrend to continue through the forecast period.

Depilatories have held the higher CAGR among the segments with 3.45% during 2006-11 and 1.53% during 2011-16.

The report provides market dynamics for each segment along with value analysis by distribution channel and volume analysis by brands in Spanish skincare market.

Click here for more details of the report.