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Anti-aging is often the name of the game when it comes to the spa, and anti-aging treatments and retail hinge on quality products. According to this new study by Mintel, anti-aging skin care products are beginning to become the most purchased skin care items.
Americans are pouring more money into the fountain of youth known as anti-aging skin care. According to a new report from market research firm Mintel, sales of anti-aging skin care products rose to more than $1.6 billion in 2008. For the first time, anti-aging sales surpassed sales of facial cleansers, which garnered nearly $570 million in 2008.
The market for anti-aging skin care has grown rapidly during the past couple of years, per Mintel. U.S. sales rose 13% from 2006 to 2008, outpacing general facial skin care sales, which grew less than 11%. Mintel expects the market to remain robust throughout the next five years, growing approximately 20% through 2013.
“Anti-aging won’t fall to the recession,” comments Kat Fay, senior beauty and personal care product analyst at Mintel. “Looking young is extremely important to many women, especially baby boomers, and it’s not an issue they’re willing to compromise on because of tightened budgets. Many women see anti-aging skin care as a reasonably priced investment in their appearance and well-being.”
According to Mintel’s Global New Products Database, 32% of U.S. facial skin care product launches tracked in 2008 boasted anti-aging claims. Globally, one in four (26%) included such claims. “Manufacturers see the growing demand for anti-aging benefits and they’re responding accordingly with a constant flow of new products. The latest launches are more detailed and scientific in their claims, ingredients and projected benefits,” states Fay.