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Looking for a Bigger Bite—Selling Beauty from Within
By: Carrie Lennard, Euromonitor International
Posted: March 3, 2010, from the March 2010 issue of GCI Magazine.
- Success in selling nutraceuticals requires both ingredient manufacturers and brand owners to focus on innovation.
- Many consumers remain highly skeptical about the efficacy of nutraceuticals.
- Though lagging behind other markets in total sales, the U.S. nutraceuticals market was the most dynamic in 2008, with a 42% rise in value sales.
- The image of nutraceuticals is difficult to reconcile with the boom in marketing and sales of natural and organic.
- Consumers want to understand exactly what they are ingesting and tend to mistrust that which they don’t.
Nutraceuticals are becoming a focal point for product innovation among both food/drink manufacturers and supplement players alike. The segment is currently the hot topic for the beauty industry, and, as a result, has produced a mass of new product innovations—all with the common goal of enhancing beauty from within. The question remains: Are consumers buying it? Euromonitor International takes a look at key trends, the major new developments in the category, who the key players are and how the performance of the beauty industry measures up compared to the areas of fast-moving consumer goods that nutraceuticals essentially compete against.
Companies Focus R&D on Nutraceuticals
In a bid to stay ahead in the nutraceuticals game, both ingredient manufacturers and brand owners alike are focusing their efforts on innovation. One of the most major recent new launches was the lycopene-containing supplement Innéov Fermeté, a joint collaboration from food giant Nestlé and global personal care player L’Oréal. Lycopene is currently one of the most popular ingredients in beauty supplements. The ingredient was initially marketed on the basis of its cancer-fighting properties; however, it was soon promoted as a beauty enhancer. Innéov Fermeté is designed to be taken daily, and reportedly slows down the effects of skin aging. It is currently being sold in parts of Europe and Latin America, and is shortly set to be launched in Britain.
November 2009 saw the launch of Sunpill, a supplement touted by its producers as the “sun defense breakthrough of the decade.” Designed to enable users to stay in the sun for twice as long as normal without getting sunburn, the pill represents a small but growing segment of ingestible sun protection products. It joins existing sun protection from within products such as Bronzage Sublime by Juvamine and Innéov Solaire by Nestlé and L’Oréal.
Consumers Seek Alternatives to Surgery
Cosmetic surgery procedures are growing in the double digits across many European, Asian and Latin American countries. Demand is driven by increasingly youth-obsessed consumers looking to maintain a youthful appearance and age gracefully. With an increasing aging population, especially in the developed markets of Europe and the U.S., demand for age defying procedures is expected to increase substantially.