Facial Skincare and Anti-aging: Incl Impact of COVID-19 - US - May 2020

OVERVIEW
What you need to know
Key issues covered in this Report
Definition
EXECUTIVE SUMMARY 
Market overview
Impact of COVID-19 on facial skincare and anti-aging
Figure 1: Short, medium and longer term impact of COVID-19 on facial skincare and anti-aging, May 2020
Key trends
Skincare continues to grow
Figure 2: Product usage, March 2020 vs January 2019
Women aged 18-34 drive category growth
Figure 3: Repertoire analysis of product usage, by women 18-34, March 2020
Minimalist trends appeal to Asian and Hispanic adults
Figure 4: Select changes in routine, by race and Hispanic origin, March 2020
Consumers are adapting a holistic approach to skincare
Figure 5: Attitudes toward skincare routine, March 2020
Eco/ethical issues are top-of-mind for young adults
Figure 6: Select attitudes toward facial skincare products, by age, March 2020
Non-invasive cosmetic treatments challenge the anti-aging category
Figure 7: Anti-aging product usage vs professional skin treatments, by age, March 2020
What it means
THE IMPACT OF COVID-19 ON FACIAL SKINCARE AND ANTI-AGING
What you need to know
Figure 8: Short, medium and longer term impact of COVID-19 on facial skincare and anti-aging, May 2020
Opportunities and Threats
Minimal long-term changes to skincare routines
Figure 9: Coronavirus spending habits – Beauty products, May-June 2020
Premium skincare expected to take a hit
Figure 10: Consumer spending on beauty and personal care products, monthly, 2006-10
Figure 11: Brand usage – NET any treatment, by age, March 2020
Consumers turn to skincare to cope with anxiety and bolster immunity
Safety concerns usher in a new era of clean beauty
Build trust by offering transparency and traceability
Appeal to “skintellectuals” with smart technology and expert approval
Sustainability drives NPD
Brand activism during the pandemic is imperative to long-term survival
Beauty brands build communities amid lockdown
Impact on the facial skincare and anti-aging market
Skincare expected to continue growth
Figure 12: Total US retail sales and forecast of facial skincare and anti-aging products, at current prices, 2014-24
How the crisis will affect facial skincare and anti-aging’s key consumer segments
Young adults invest in their routines during lockdown
Will anti-aging products turn back the hands of time after a decade of slowed growth?
Figure 13: Face/neck care claims associated with anti-aging, January 2015 – December 2019
Hybrid products will stand out to adults working from home
Online retailers and DTC brands see increased demand
How a COVID-19 recession will reshape the facial skincare and anti-aging industry
What the lipstick index means for a pandemic-induced recession
Conscious consumerism elevates post-pandemic
COVID-19: facial skincare and anti-aging context
THE MARKET – WHAT YOU NEED TO KNOW
Skincare expected to continue growth
Facial cleansers continue to dominate the market
Embrace skin positivity as the next wave of inclusivity
MARKET SIZE AND FORECAST
Skincare expected to continue growth
Figure 14: Total US retail sales and forecast of facial skincare and anti-aging products, at current prices, 2014-24
MARKET BREAKDOWN
Facial cleansers continue to dominate the market
Figure 15: Total US retail shares of facial skincare and anti-aging products, by segment, at current prices, 2019
Anti-aging segment grows
Figure 16: Percent change of sales growth, by segment, 2019 (est)
MARKET FACTORS 
Will the hand sanitizer crack down impact future cosmetic legislation?
Expect supply chain issues to impact NPD
Rising threat of professional treatments halted due to COVID-19, but not for long
Figure 17: Anti-aging product usage vs professional skin treatments, by age, March 2020
Embrace skin positivity as the next wave of inclusivity
KEY PLAYERS – WHAT YOU NEED TO KNOW 
Leading companies see gains
Influencer launches disrupt market
“Skip care” and minimalistic trends challenge multistep routines
Facial skincare becomes intrinsically tied to overall health
COMPANY AND BRAND SALES OF FACIAL SKINCARE AND ANTI-AGING
Top three leading companies see gains
Figure 18: Multi-outlet sales of facial skincare and anti-aging products, by leading companies, rolling 52 weeks 2019 and 2020
WHAT’S WORKING
Science-backed ingredient stories see success
Makeup brands blend into skincare
Figure 19: Multi-outlet sales of select skincare brands, by companies and brands, rolling 52 weeks 2019 and 2020
Influencer launches disrupt market
WHAT’S STRUGGLING
“Skip care” and minimalistic trends challenge multistep routines
Affordable luxury puts pressure on premium
Figure 20: Multi-outlet sales of select men’s facial cleansers, by companies and brands, rolling 52 weeks 2019 and 2020
WHAT TO WATCH
Meet consumer demand with safe and sustainable skincare
Facial skincare becomes intrinsically tied to overall health
THE CONSUMER – WHAT YOU NEED TO KNOW 
Most skincare products experience growth in usage
Young adults seek holistic approach to skincare
Women want wide range of skincare benefits
Eco/ethical issues are top-of-mind for young adults
Men take a functional approach to skincare
Time-saving innovations have strong appeal
PRODUCT AND BRAND USAGE
Most skincare products experience growth in usage
Figure 21: Product usage, March 2020 vs January 2019
Women drive category growth
Figure 22: Select product usage, by gender, March 2020
Older adults stick to the staples, young adults open to alternatives
Figure 23: Select product usage, by age, March 2020
Asian and Hispanic adults overindex for specialty skincare
Figure 24: Select product usage, by race and Hispanic origin, March 2020
Minimalist movements impact key demographic
Figure 25: Repertoire analysis of product usage, by women aged 18-34, March 2020
Consumers seek premium brands for specialty products
Figure 26: Brand usage, by product type, March 2020
CHANGES IN FACIAL SKINCARE ROUTINE
Consumers take proactive approach to their skincare regimens
Figure 27: Changes in routine, March 2020
Women take action to improve their skin, men treat as needed
Figure 28: Changes in routine, by gender, March 2020
Young adults’ behaviors reflect holistic trends
Figure 29: Changes in routine, by age, March 2020
Hispanic adults are simplifying routines
Figure 30: Select changes in routine, by race and Hispanic origin, March 2020
BENEFITS SOUGHT
Smooth skin and sun protection appeal to most consumers
Figure 31: Benefits sought, March 2020
Women seek a wider range of skincare benefits
Figure 32: Select benefits sought, by gender, March 2020
Social media trends influence benefits sought among young adults
Figure 33: Benefits sought, by age, March 2020
Hispanic consumers’ engagement in color cosmetics is reflected in skincare
Figure 34: Benefits sought, by race and Hispanic origin, March 2020
ATTITUDES TOWARD FACIAL SKINCARE PRODUCTS
Irritation is a top concern
Figure 35: Attitudes toward facial skincare products, March 2020
Eco/ethical issues are top of mind for young adults
Figure 36: Attitudes toward environmental impact of facial skincare products, by age, March 2020
Asian adults seek clarity on skincare products
Figure 37: Attitudes toward facial skincare products, by race and Hispanic origin, March 2020
ATTITUDES TOWARD SKINCARE ROUTINES
Consumers take a holistic approach to skincare
Figure 38: Attitudes toward skincare routine, March 2020
Men take a functional approach to skincare
Figure 39: Attitudes toward skincare routine, by gender, March 2020
High engagement can lead to category fatigue among young adults
Figure 40: Attitudes toward skincare routine, by age, March 2020
INTEREST IN INNOVATIONS
Safety and sustainability drive NPD
Protection benefits garner appeal
Figure 41: Interest in innovations, March 2020
Custom products help cut down noise for women
Figure 42: Interest in innovations – Net any interest, by gender, March 2020
Time-saving innovations have strong appeal
Figure 43: Interest in innovations – Net any interest, by age, March 2020
APPENDIX – DATA SOURCES AND ABBREVIATIONS
Data sources
Sales data
Consumer survey data
Abbreviations and terms
Abbreviations
Terms
APPENDIX – THE MARKET 
Figure 44: Total US retail sales and forecast of facial skincare and anti-aging products, at inflation-adjusted prices, 2014-24
Figure 45: Total US retail sales and forecast of facial skincare and anti-aging products, by segment, at current prices, 2014-19
Figure 46: Total US retail sales of facial skincare and anti-aging products, by segment, at current prices, 2017 and 2019
Figure 47: Total US retail sales and forecast of facial anti-aging products, at current prices, 2014-19
Figure 48: Total US retail sales and forecast of facial cleansers, at current prices, 2014-19
Figure 49: Total US retail sales and forecast of facial moisturizers, at current prices, 2014-19
Figure 50: Total US retail sales and forecast of acne treatments, at current prices, 2014-19
Figure 51: Total US retail sales and forecast of lip balm, at current prices, 2014-19
APPENDIX – RETAIL CHANNELS  
Figure 52: Total US retail sales of facial skincare and anti-aging products, by channel, at current prices, 2014-19
Figure 53: Total US retail sales of facial skincare and anti-aging products, by channel, at current prices, 2017 and 2019
APPENDIX – KEY PLAYERS 
Figure 54: Multi-outlet sales of facial anti-aging products, by leading companies and brands, rolling 52 weeks 2019 and 2020
Figure 55: Multi-outlet sales of facial cleansers, by leading companies and brands, rolling 52 weeks 2019 and 2020
Figure 56: Multi-outlet sales of facial moisturizers, by leading companies and brands, rolling 52 weeks 2019 and 2020
Figure 57: Multi-outlet sales of acne treatments, by leading companies and brands, rolling 52 weeks 2019 and 2020
Figure 58: Multi-outlet sales of lip balm, by leading companies and brands, rolling 52 weeks 2019 and 2020
APPENDIX – THE CONSUMER 
Figure 59: TURF analysis – Benefits sought from skincare, March 2020
Figure 60: Table - TURF analysis – Benefits sought from skincare, March 2020