Sunscreen and Other Skincare Product Manufacturing in Australia Industry Market Research Report Now Available from IBISWorld
Sales in Australian sunscreen and other skincare products are expected to grow as domestic manufacturers focus on premium and niche markets. For this reason, industry research firm IBISWorld has added a report on the Sunscreen and Other Skincare Product Manufacturing in Australia to its growing industry report collection.
Melbourne, Australia (PRWEB) October 01, 2013
The Sunscreen and Other Skincare Product Manufacturing industry has struggled over the past five years. Industry revenue growth has been weighed down by excessive import competition, especially as the strength of the Australian dollar has limited export attractiveness and made imports cheaper. According to IBISWorld industry analyst Ryan Lin, “over much of the past five years, import competition has been fierce in low-cost industry product segments such as bulk-purchase moisturisers and hand creams”. Smaller industry operators have found it hard to compete with the incoming scale and price of these imported goods, with a number of them leaving the industry. Over the five years through 2013-14, industry revenue is estimated to decline at an annualised 0.3% to total $189.7 million. In 2013-14, the industry is expected to continue to face troubled retail conditions and continual competition, resulting in a decline of 1.2% for the year.
“The increasing sophistication of manufacturing techniques from low-cost importers have meant that imports are slowly encroaching into mid-tier and high-tier product segments,” says Lin. This has posed a significant worry for industry manufacturers over recent years. IBISWorld expects that industry operators are likely to move into niche category specialisations and premium product segments to combat this rising import competition. Because of this, the Sunscreen and Other Skincare Product Manufacturing industry is expected to increasingly employ skilled employees and increase production investments. Manufacturers are anticipated to increase investments into capital, while also boosting wages to employ specialists.
The Sunscreen and Other Skincare Product Manufacturing industry has a medium level of market share concentration. The industry’s largest players are Ego Pharmaceuticals Proprietary Limited, Aesop Pty Ltd and Natio Pty Ltd.
Over the next five years, a shift towards niche and premium segments is expected to be the silver lining for the industry. The return the parity of the Australian dollar in 2013 is expected to provide further momentum for the industry as exports become more attractive to global markets in line with the rising sophistication of industry products.
For more information, visit IBISWorld’s Sunscreen and Other Skincare Product Manufacturing report in Australia industry page.
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IBISWorld Industry Report Key Topics
Companies in this industry manufacture skincare products, such as balms, creams and ointments for various usages.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.
For the original version on PRWeb visit: http://www.prweb.com/releases/2013/10/prweb11176960.htm