London: 23rd March 2016: The growing popularity of face oils is driving growth in the prestige skincare market, according to the NPD Group Inc., a global information company. The face oil market was worth £4.9m in 2015, and whilst this category accounts for just 1% of the total prestige women’s skincare market, it reported double digit growth in 2015 where it increased by 30.8% compared to 2014.
The prestige beauty market which was valued at £2.4b in 2015. Skincare is an important contributor to growth where the total value of women’s skincare in 2015 was £496m, which grew by 2.3% on the previous year from £485m.
Teresa Fisher, Senior Account Manager, NPD UK Beauty says, “Growth in the women’s skincare sector remains strong and was boosted by the double digital growth of face oils in 2015. This demonstrates that innovation is key to the development and growth of new categories within skincare, it also reveals that there is real opportunity for further growth.”
The growth of beauty oils
The face oils category, which includes: facial moisturisers, facial cleansing oils, anti-ageing beauty oils and treatment shave oils has grown from £2.3m in 2011 to £4.9m in 2015, doubling in size in just four years.
Treatment shave products for men, an emerging category reported sales of £4.7m in 2015 growing 20% on 2014, demonstrating that men have adopted oils for shaving preparation as part of their daily shaving ritual.
Growth from existing lines and new launches
The market for prestige face oil products has been fuelled in part by the increased awareness of the product category. New launches of note in the facial oil sector in the past year include Elemis Nourishing Cleansing Oil, Bare Minerals Mineralixirs, Clinique Smart Treatment Oil and Kiehl’s Daily Reviving Concentrate.
The number of new product launches for face oils was just 15 in 2015, compared to the number of launches in the serum sector which was 45. The serum market is more mature with sales of £49m in 2015 compared to face oils with sales of just £4.9m. However, it presents a huge opportunity for brands to capitalise on the popularity of oils for anti-ageing, hydrating and cleansing.
The total number of units sold in 2015 increased by 37.7%, while the average price per unit of face oils declined slightly.
The trend for facial oils has extended beyond skincare to include new product launches in the make-up sector as Fisher explains, “We have also started to see an increasing number of oil products launching in the make-up category, including Clarins Instant Light Lip Comfort Oil, Lancôme Juicy Shaker, Smashbox Photo Finish Primer Oil & YSL Rouge Volupte Tint in oil. This demonstrates the growing popularity of skincare benefits in make-up products and is likely to continue.”
Best-selling face oil products 2015 (alphabetical order)
- BOBBI BROWN SOOTHING CLEANSING OIL 200ML
- CLARINS HUILE ORCHIDEE BLEUE 30ML
- CLARINS HUILE SANTAL 30ML
- CLINIQUE TAKE THE DAY OFF CLNS OIL 200ML
- SISLEY ROSE NOIRE HUILE PRECIEUSE 25ML
Teresa Fisher concludes, “The recent growth in the face oil market is important in a number of ways. Firstly, it’s boosting the prestige skincare market by increasing sales, and it also demonstrates the enthusiasm with which consumers adopt new rituals into their skincare regime. We are witnessing a new consumer who is increasingly turning to their peers for advice on products and take the lead from social media and bloggers. As a result they are willing to try new products and innovations, incorporating them into their beauty ritual.”If you have any questions about this press release, please contact us.