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Turkey skin care market: 4% CAGR growth forecast between 2012-17

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Skin Care in Turkey - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-17 08:01:03
In 2012, Eczacibasi-Beiersdorf Kozmetik Urunleri San ve Ticaret AS led the Turkey skin care market with nearly 21% value share. Its Nivea brand is one of the most established brands in the country and has very high recognition amongst Turkish consumers. In 2012, the company managed to increase its share by half a percentage point thanks to its successful new product launches, such as Nivea Visage Vital Multi-Active Soya Night Cream. The company is very active in terms of advertising its products and launching new products. Other examples of its new products in the last two years of the review period included the Nivea Pure & Natural range, which is claimed to contain 95% natural ingredients and includes an antiwrinkle day cream (anti-ageing) and a cleansing toner product, and Nivea Visage Pure Effect All-in-1 that cleanses the skin, prevents spots due to its antibacterial properties and can also be used as a face mask.

In 2012, skin care saw a remarkable growth, stimulated by a high number of new product developments and better economic conditions in the country. Although the majority of the population still could not afford to purchase premium products, they demanded high-quality masstige products. Manufacturers of masstige products responded to this demand by investing in better-quality products. High number of people could not afford to purchase premium products, yet wanted to use good-quality products at affordable prices. Some examples of these products included Diadermine Lift Intense Age-Repair Day Cream by Türk Henkel and Nivea Visage Vital Multi Active Soya Night Cream by Eczacibasi-Beiersdorf, both launched in 2012. The sector saw around 15% value growth in 2012 compared with the review period CAGR of nearly 12%.

Over the forecast period, skin care is expected to demonstrate a good constant value growth, driven by the improved economic conditions in the country, which will lead to increased consumption of skin care products, which are normally perceived to be luxuries. Furthermore, an increasing number of new product launches and promotions, such as price discounts or gifts, are also expected to be significant factors that will fuel the growth. Rising urbanisation will mean people becoming more conscious of their personal appearance, and their skin becoming increasingly prone to problems due to pollution and stress. As a result, skin care is expected to see a CAGR of 4% in constant terms over the forecast period, compared with about 3% over the review period.

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