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Personal Care Posts Growth
Posted: July 3, 2006
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The United States also is a crucial market, says the report, but it is a mature market. Global Cosmetic Industry (GCI) magazine reported that North America's personal care sales grew 3.3% in 2005. Consumers are still showing a growing interest in natural products, says the report. The Natural Marketing Initiative reported that 28% of the general population desires natural care products made with organic ingredients. Colgate reportedly sees the natural care market growing 15% a year. The company's recent acquisition of all-natural toothpaste maker Tom's of Maine reflects its willingness to embrace the field.
Overall, the industry expects to have a healthy future, according to the report. Consolidation should help the biggest players especially as they face pressure from large retailers such as Target and Wal-Mart. With emerging product segments and developing markets, cosmetic and personal care firms are reportedly in a good position to grow. However, companies must make sure that their product offerings stay fresh.