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Dormant Product Categories Awakened by Innovation
Posted: August 30, 2006
Innovation has stirred interest in categories that were dormant for almost a decade, according to Carrie Mellage, industry manager for the consumer products division at Kline and Company. “Products with a new twist, like Jergens Natural Glow, show how innovation can turn a category around,” said Mellage in the Cosmetics & Toiletries USA 2005 report. She added that there’s a focus on mega-brands as a strategy that’s generating interest as some companies have extended their successful brands into new product categories. For example, Mellage cites the 2005 Dove launch of hair styling products and the Axe brand’s extension into shower gel.
In 2005, the US cosmetics and personal care industry reached the highest level of growth in five years. According to Kline, consumers are gravitating toward premium products, especially those with antiaging properties. The fastest-growing categories in 2005 included: lip balms, deodorants and antiperspirants, manual toothbrushes and men’s skin care. These categories reportedly benefited from product enhancements such as anti-wrinkle and firming formulations for lip balms, and product innovations such as improved toothbrush design.
Categories like hair styling products and facial treatments are expected to continue to grow as they benefit from innovations, especially for antiaging features. Gender-specific brands targeting the male consumer also have boosted growth and meanwhile, organic or “natural” products are becoming increasingly popular.
-Kline & Company