ROCKVILLE, MD--(Marketwire - Nov 21, 2012) - MarketResearch.com has announced the addition of Canadean's "New Insights into Under-Targeted Age Groups in Health & Beauty" to their collection of market research reports.
Aging populations mean older consumers are becoming increasingly important to the worldwide health & beauty market. Marketers in the Non-BRIC region are already adjusting to the power of the grey consumer; however, marketers in China will have to adjust as well as the sheer weight of numbers means that over-55s will drive Health & Beauty markets in the future. However, this age group's share of most Health & Beauty markets by value is less than their share of the overall population, and the difference is particularly large in Beauty-related markets.
As consumer awareness of the causes and effects of aging increases, there has been a shift in behavior from seeking "curative" solutions to "preventative" anti-aging, which safeguards against the aging process in the first place. This extends the anti-aging concept to include young consumers and vastly increases the number of people who might consider using these products, and creates lifelong consumers of anti-aging products.
|Table 12: Health & Beauty Markets' 2011-2016 Value CAGR (%) and Early Young Adults' Value Share (%) and Population (million)|
|2011-2016 Overall Market Value CAGR (%)||Age Group's Value Share (%)||Age Group's Population (million)|
|Source: Canadean||© Canadean|
"Value for Money" is key for early young adults as they seek to meet the strong pressure to look good, on budgets limited by the fact they are still in full time education or hold entry-level jobs, assuming they can find one. Over a quarter of the value of Health & Beauty products consumed by this age group were chosen on their ability to offer "Better Value for Money."
Furthermore, the importance of the "New Gender Behaviors" and "Individualism" consumer trends shows that products have to be clearly targeted to either men or women and meet specific, individual needs; it is impossible to be all things to all consumers.
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Canadean has long held a reputation with FMCG markets for providing specialist business information by conducting detailed industry and consumer research, supported by insightful value-added analysis. We cover the entire spectrum of the consumer value chain from suppliers, brand owners, distribution channels and consumer insight.
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