Japan market leads the way for anti-aging products
Although the US market for anti-aging beauty products has continued to expand at an breakneck pace, Mintel’s New Product Data Pace shows that Japan continues to put the innovation and product roll-out seen Stateside in the shadows.
The fact that Japan has had the world’s longest life expectancy for women for the past 25 years is a major factor influencing the roll out of new anti-aging products in the country, and one that Mintel believes will continue to help Japanese women look good as they age.
In Asia the emphasis for anti-aging products tends to focus more on skin whitening and brightening products, as Asian women generally show less signs of wrinkling than their western counterparts.
Japan leads the way in growth for anti-aging products
This phenomenon is particularly emphasized in Japan, where an increasing number of new product launches join this category niche every year.
“The steady increase in Japan’s longevity, traditional eating habits and long history of whitening beauty are just a few of the reasons this region continues to excel in the personal care industry,” said Hinako Sugioka, Mintel Beauty Innovation consultant.
Underlining this, Mintel’s Global New Product Database (GNPD) shows that new product roll-outs in Japan within the anti-aging category have continued to outpace many of the leading global markets, including the US.
Industrly-leading growth rates
Indeed, the GNPD shows that skin care products launched in Japan with an anti-aging claim grew by an industry-leading 85 percent in the period 2007 to 2009, compared to a 27 percent increase the same category for the US market.
It is also interesting to note that during this time this phenomenal growth rate has been recorded despite a global economic crisis that has seriously impacted overall consumer spend in both markets.
According to Hinako, the growth in both markets underlines consumers ‘unwillingness’ to stop buying anti-aging products, even during times when they are cutting back on their spending in other areas of the household budget.
Examples of the latest launches from the Japan anti-aging category can be seen at Mintel's GNPD section within the Innovation Zone of the HBA show, which opens its doors at the Jacob Javits Center in New York on September 29.