2014-01-29 22:57:01 - Beauty and Personal Care in the US - a new market research report on companiesandmarkets.com
The US beauty and personal care market in 2012 grew at the second highest observed rate for the review period of 2007-2012. US economic recovery progressed at an uneven and lethargic pace, allowing a small but influential segment of the population to continue to drive fairly positive growth within the premium segment. The mass market experienced more mixed fortunes, with some consumers seeing their incomes increased enough to purchase mass products that contained some premium elements, while others continued to feel budgetary pressures and relied on the least expensive value brands.
America´s "barbell" economy and the lingering effects of the recession have prompted many consumers to seek value wherever possible, spurring innovation among beauty and personal care goods manufacturers. Goods that
offered multiple benefits, pleasing scents, and the ability to consolidate one´s staple of personal care products were often chosen over those that served only the most basic functions. These products were frequently seen as straddling the line between mass and premium, giving average consumers the ability to purchase advanced formulations at costs that rivalled lesser ones.
The Procter & Gamble Co and L´OrÃ©al USA were the leading two players in beauty and personal care in the US in 2012. Procter& Gamble was the leading manufacturer of products in depilatories, men´s grooming and oral care. New products developed for the male and female markets in 2012 helped its Gillette line of razors and shaving creams maintain Procter & Gamble´s grip on the men´s and women´s shaving segments. L´OrÃ©al was the leading player in colour cosmetics, fragrances, hair care and set/kits. The French company continued its expansion in 2012 with new media apps aimed at building brand appeal with younger audiences, investing in a new global research facility, and with the acquisition of another salon-based distributor.
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