For those who think that the women's facial care market is already saturated by a deluge of creams, lotions, tonics, waters, sorbets, scrubs, exfoliators, toners, brighteners, serums, masks, primers and foams; think again.
The NPD Group, a global industry authority for market size and trends, has recently reported that the UK facial oil market increased in size by 30.8% between 2014 and 2015, amassing an estimated value of £4.9 million in 2015.
According to the NPD Group, some of the best-selling facial oil products of 2015, which boast a range of benefits including hydrating properties and anti-acne or anti-aging formulae, are produced by well-known brands including Clarins, Bobbi Brown, Clinique and Sisley Rose.
Concededly, the facial oil market is still relatively small when compared with other facial skincare markets; making up only 1% of the total prestige women's skincare market. Nevertheless, Teresa Fisher, Senior Account Manager of NPD UK Beauty, has opined that consumers demonstrating a thirst for new products is evidence "…that innovation is key to the development and growth of new categories within skincare, it also reveals that there is real opportunity for further growth".
Undoubtedly; this is the opportune moment for manufacturers and retailers to capitalise on the increasing consumer interest in facial oils.
The supply and manufacture of cosmetic products within the EU (including skin, hair and oral care items, perfumes, sun protection, and make-up products) is governed by the EU Cosmetics Regulation ((EC) No. 1223/2009). The European Commission has additionally issued various guidance documents which are available on its website. Within the UK, the Cosmetic Products Enforcement Regulations 2013 will also apply.