Abstract
US demand to increase 7.2% annually through 2012
Demand for cosmeceutical products is expected to increase 7.2 percent per year
to $9.4 billion in 2012, propelled by a stream of new and technologically
advanced product introductions offering age-defying and other
appearanceenhancing benefits for an aging population. The rapid growth of the
cosmeceutical market will continue to be based on a combination of science and
astute marketing, with evidence regarding product claims far from conclusive
in many instances.
Limiting opportunities will be competition from alternative treatments, such
as laser resurfacing and cosmetic surgery, which often offer more dramatic
results, though at a greater cost in terms of time, money and safety.
Cosmeceutical products also face intense pricing competition due to the
growing market penetration of private label cosmeceutical brands and the rapid
commoditization of innovative ingredients and products.
Skin care products to remain dominant segment
Skin care products will account for over 60 percent of all cosmeceutical
product demand in 2012. Anti-aging products will achieve above-average growth,
with gains driven by a highly receptive, fastexpanding group of middle-aged
and relatively affluent consumers who want to prevent or redress visible
damage to the skin caused by aging, ultraviolet radiation and other
environmental stressors. Improved formulations will further promote the use of
age-defying products. Injectable products to see fastest growth
Injectable products are expected to experience the fastest growth among
cosmeceutical products, achieving double-digit annual gains through 2012.
Strong prospects for these products are the result of growing demand and
acceptance on the consumer side and the increasing availability and
proficiency of practitioners. The aging of the US population, an increasingly
competitive work force and continued exposure to beauty "ideals" in
entertainment and advertising are expected to spur continued interest in
professional products.
Botulinum toxin, hyaluronic acid among best prospects
Demand for cosmeceutical chemicals will grow as producers increasingly develop
more effective, value-added active ingredients to add to their product
formulations. Chemicals used in injectable products will drive gains, with
strong advances expected for botulinum toxin, the key ingredient in BOTOX; and
hyaluronic acid, the substance on which recently introduced dermal fillers
RESTYLANE, JUVEDERM and ELEVESS are based. Hyaluronic acid is finding greater
use in over-the-counter age-defying products, particularly skin care items.
Other chemicals expected to record rapid gains include amino acids and
antioxidants (e.g., vitamins A and C), which are the active ingredients in
many anti-aging creams and lotions; botanical extracts, which serve a variety
of cosmeceutical functions; and beta hydroxy acids, which have become an
important ingredient in various skin care products due to their ability to
offer exfoliant and cell renewal properties with less risk of adverse
reactions than other chemicals.
Study coverage
This new Freedonia industry study, Cosmeceuticals presents historical demand
data (1997, 2002, 2007) and forecasts for 2012 and 2017 by product and
chemical. The study also considers market environment factors, evaluates
company market share and profiles leading competitors.
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