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Beauty From Within Lacking Global Acceptance
By: Carrie Lennard, Euromonitor International
Posted: March 7, 2011, from the March 2011 issue of GCI Magazine.
page 3 of 4On the other hand, there were numerous high-profile cases of nutraceutical and nutricosmetic products being withdrawn or running into regulatory difficulties. Avon withdrew from the skin nutraceutical segment in 2010 following ailing and stagnant sales in a number of markets. Even in Japan, where skin care from within is accepted by many consumers, Avon’s product did not perform as well as expected.
The lycopene-containing supplement Innéov Fermeté, a joint collaboration between food giant Nestlé and global personal care player L’Oréal was one of the major launches of 2010. Lycopene was initially marketed on the basis of its cancer-fighting properties.
However, it was soon promoted as a beauty/skin health enhancer. Innéov Fermeté is designed to be taken daily, and reportedly slows the effects of skin aging. It is currently being sold in parts of Europe and Latin America. Even with the might of Nestlé’s research and development budget, however, Fermeté suffered a setback when it fell foul of the European Food Safety Authority (EFSA) in May 2010, and the company was forced to withdraw the product claim relating to the improvement of dry skin.
Baby Boomers Key to Future Growth
The industry has attempted to broaden the appeal of nutraceuticals to different consumer groups such as men, with launches such as Viviscal and Viviscal for Men (supplements designed to prevent hair thinning). However, arguably, baby boomers still hold the key to the future of nutraceuticals. Baby boomers do not just expect to live longer, they also expect to look as good as they feel.
This incredibly influential group (78 million-strong in the U.S. and spending more than $2 trillion each year) has set in motion some of the key shifts being experienced today—including the health and wellness revolution, the social responsibility movement and the growth of segments and industries such as anti-aging skin care and cosmetic procedures. It is for this reason that the nutraceutical industry needs to focus on convincing this growing segment in the West if it is to grow beyond its current niche status globally.