A report by Mintel Beauty Innovation’s Global New Product Database (GNPD) shows a higher growth rate of antiaging skin care products in Japan than in the United States. Skin care products launched in Japan with an antiaging claim increased by 85% from 2007 to 2009, compared to a 27% increase in the United States during the same time period.
“East Asia and Japan, specifically, have always been at the forefront of beauty innovation,” stated Hinako Sugioka, senior consultant for Mintel Beauty Innovation, in a company press release. “The steady increase in Japan’s longevity, traditional eating habits and long history of whitening beauty are just a few of the reasons this region continues to excel in the personal care industry.”
While not as robust as Asia, the US antiaging skin care market is also experiencing a boom in sales, despite a poor economic atmosphere. Posting substantial growth since 2004, with gains of nearly 15% in both 2007 and 2008, the United States reached estimated sales of US $1.8 billion in 2009. This growth was mostly driven by the increasing number of women in the United States specifically of the baby boomer generation who are interested in health and well-being.
According to Sugioka, the most remarkable factor in the growth of this sector is that many consumers continue to buy antiaging skin care products even though they have had to tighten their budgets.