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Posted: June 20, 2006
The “baby boomers,” approximately ages 42 to 60, are gaining strength in the cosmetics and skin care market. In the 2000 U.S. Census the largest population group was in the age range of 35-39 years old with a total of 22.7 million people (8.1 percent of the population). The second largest age group was 40-44 year-olds, amounting to 8 percent of the population or 22.4 million people. Between the two ranges, 16.1 percent of the entire U.S. population is a significant portion of the market.
A report by Mintel adds that the 21 percent growth of fragrances and color cosmetics from 2000 to 2004 in the UK is largely due to growing numbers of employed women with disposable incomes.
The two largest population groups are getting older, and as a commanding presence in the skin care market, they are demanding market response for their growing skin care concerns. At ages 42 to 60, the baby boomers require different skin care than they did 10 and 20 years ago, and the industry has filled their requirements.
As the baby boomer demographic has aged, antiaging products have been available to ease skin aging; however, one skin care genre remained untapped--cosmetics. Cosmetic companies, noticing the rapidly growing baby boomer population, are creating cosmetic lines specifically formulated to address the skin care concerns of aging women.
In 2002, Lauren Hutton launched “Good Stuff,” a cosmetic line designed for women age 35 to 65. Her makeup focused on simplicity and perfected application processes.