DUBLIN, February 17, 2016 /PRNewswire/ --
The global professional skin care market is expected to grow with a CAGR of 6.15% by 2019, according to an industry report available from Research and Markets. The report states that a high demand for multi-functionality cosmetic formulae is driving this growth, and today skincare maker Beiersdorf AG forecast higher sales on the strength of the company's Nivea brand. Beiersdorf are forecasting a revenue increase of 3-4% on 2015's sales.
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CEO Stefan Heidenreich associated the revenue growth with an increased demand for established Beiersdorf brands including the aforementioned Nivea, Eucerin and La Prairie. Beiersdorf recorded a 3.6% growth in consumer sales for 2015, and expect consumer business to continue to grow by 3-4% in 2016. Heidenreich also revealed that Nivea will be raising prices in an effort to compete with rival products from L'Oreal SA and Procter & Gamble Co. Higher prices are not expected to affect the brand due to the estimated growth of a number of related markets.
The global anti-aging products market is set to grow at a CAGR of 7.71% by 2019 as noted in a recent report, while another report forecasts the global organic personal care products market to grow by 9.64% by 2019. Nivea has multiple products in both markets, and will continue to capitalize on the increased demand for trusted skincare brands.
For further information on this topic, and a full list of all related documentation, please visit the Skin Care section at http://www.researchandmarkets.com/rm/LOQL.
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