Prestige Beauty Market Strong In U.S. And UK; Weak In France, Italy, And Spain, 1H 2013 NPD Study Shows

The world market for prestige beauty products posted varying results in the first half of 2013, according to market research group The NPD Group, Inc. In the United States, the market grew 8 percent during the period, with revenue reaching $5 billion. In Europe, the UK market grew 6 percent to £803 million in sales of prestige beauty products; however, the markets in France, Italy, and Spain continued facing challenges. Skincare and makeup drove growth in the U.S. market, posting sales of $1.8 billion and $2 billion, respectively; the fragrance segment saw slower growth at 4 percent to reach $1.1 billion in sales. In Europe, fragrance accounted for the largest share of sales, with 43 percent in the UK; France, 62 percent; Italy, 40 percent; and Spain, 51 percent.