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Australian skincare consumers favour bulk deals and offers

Skincare remains the largest sector in the Australian Health & Beauty Industry. According to research by Canadean, the skincare segment is projected to grow in volume at CAGR (Compound Annual Growth Rate) of 2.3% to 2017. However, due to households low spending, the value growth will be significantly lower over at just 0.4%.

The Australian economy has grown strongly, led by strong raw material exports. However, high levels of household debt have led to lower consumer spending. According to Canadean, as budgets tighten, consumers tend to favour discount offers, in particular bulk deals thus impacting the market value growth.

Facial care is the largest category in the sector, with value and volume shares of 61.6% and 62.4% respectively in 2012. Growth is also expected to be positive and a value CAGR of 0.6% will set it above the sector average.

In 2012 body care was the second largest category, with a value share of 27.0%, and volume at 25.6%. According to Canadean, it is forecast to be poorest performing category to 2017, with a volume CAGR of 1.4% and a negative value CAGR of -0.7%.

Eventually, hand care will record the fastest growth in the sector for 2012 to 2017. The category’s value and volume should grow at a CAGR of 3.2% and 5.0% respectively to 2017, well above the sector average.

© 2013 - Premium Beauty News - www.premiumbeautynews.com
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