Research and Markets, a source for international market research and market data, announced the release of “Cosmetics & Fragrances Market Report Plus 2008,” by Key Note Publications Ltd., covering the U.K. fragrance sector (perfume, eau de parfum, eau de toilette and eau de cologne) and cosmetics (facial makeup, eye makeup, lip products and nail products). According to the study, in 2007, the market rose by 6.3% in total value. However, such spending was and still remains dependent on the availability and amount of a person’s disposable income.
From 2005–2006, the U.K.’s fragrances and cosmetics trade deficit decreased as the value of exported goods increased at a faster rate than that of imported goods. According to the European Cosmetic, Toiletry and Perfumery Association (Colipa), the European Union and Western European retail market for cosmetics and toiletries achieved growth of 4.2% in 2006 to reach more than £67 billion.
In addition, according to Fragrances of the World 2007, by FiFi award winner Michael Edwards, since 2000 there have been more than 3,300 fragrance launches in response to growing consumer demand. As for cosmetics, the report states that U.K. consumers are focusing on antiaging facial makeup, in part driven by the baby boomer generation. A secondary demand stems from the naturals and organics market. “Although The Body Shop and Neal’s Yard have been well established for many years, there has been a recent influx of new businesses,” Research and Markets explains, “and even the supermarket chain Tesco introduced its own organic cosmetic collection in February 2007.”
For more information on the report, log onto the Research and Markets’ Web site.