Article Title: US Demand for Cosmeceuticals to Reach $8.5 Billion in 2015
Publication: Happi, 8/2/2011
Freedonia Study: Cosmeceuticals to 2015 (2758)
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Driven by an aging population that's bent on maintaining its youth, US demand for cosmeceutical products is expected to increase 5.8% a year to reach $8.5 billion in 2015, according to a new study by The Freedonia Group, Cleveland, OH.
The target market for cosmeceuticals continues to expand beyond the traditional 45-years-and-older demographic to include much younger individuals, as the national obsession with youth continues and focus shifts to products intended to stave off the first signs of aging.Limiting further gains will be growing pricing pressures due to the expanding market penetration of private label brands and the rapid commoditization of innovative ingredients and products.Additionally, cosmeceuticals face intense competition from alternative treatments such as cosmetic surgery.
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