Canada's skin-care market will grow at CAGR value of 2.9% between now and 2017, volumes will grow at CAGR of 2%, as consumers spend more on luxury, value-added products, Canadean says
July 11, 2013
– While Facial Care will retain the top share of the sector, Hand Care is set to show the most growth to 2017.
One of the top three Health & Beauty sectors in Canada, Skincare will grow at a value Compound Annual Growth Rate (CAGR) of 2.9% between 2012 and 2017. Volumes will grow at a CAGR of 2.0% for the same period, as consumers spend more on luxury and value-added products.
The introduction and rapid popularity of new products such as BB Creams into the mainstream has helped the mature Facial Care category to continue growing, despite already accounting for almost half of the market in both value and volume terms. The category will also fare well to 2017 thanks to further product innovations, as value and volume grow at a CAGR of 2.9% and 2.3% respectively.
Hand Care will display the fastest growth of the sector, growing to 2017 at a value CAGR of 4.4% and volume CAGR of 2.4% respectively; however this is from a relatively small value and volume share of 12.4% and 13.4% in 2012. As with Facial Care, anti-ageing will play a key role in this growth, as Canadian consumers seek products that help fight the signs of ageing not just on their faces, but on their hands as well.
The Canadean report: ‘The Future of the Skincare Market in Canada to 2017’ was published in June 2013
Canadean provides in-depth market research across the fast-moving consumer goods (FMCG) sector, including packaging, ingredients, soft drinks, beer, retail, foodservice, wines & spirits, health & beauty and food. Canadean specialises in conducting online survey panels, producing in-depth market insight country reports through qualitative and quantitative research.
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