In 2021, the skincare market size is reported to be in excess of £115bn with an expected increase of £25bn by 2025. As leading FMCG consultants, HRA Global recognizes that this growth is largely due to the evolving and expanding target audience of the skincare category. Initially a niche market dominated by premium brands and service-based sales, chemical peels and skin treatments for example, skincare has become synonymous with an everyday healthy lifestyle. This is demonstrated in more practical products such as exfoliators, serums, face oils, face masks and moisturisers as well as supplements and foods.
HRA Global, have been involved with the development of the category over the last decade, and as such have category specific insight into what brands need to establish in order to compete within this sector. Our skincare market research can inform you of where your product should sit within the category against competitor products. Our skincare marketing and commercial services can also advise for and against formulations that are in-keeping with latest industry trends or out-dated.
We can also offer skincare business consulting to guide brands through a variety of processes, including supply chain consulting to feasibility and cost modelling. In addition, for skincare brands that are based outside of the UK, HRA Global can help devise a route to the UK market and assist in the exporting of skincare products to the UK.
Contact us today to speak to a member of the HRA Global team about enhancing your position within the skincare industry and see how we can help to improve the visibility of your products.