Press Release Summary = US demand to grow 8.1% annually through 2010
Demand for cosmeceutical products is expected to increase 8.1 percent per year to $6.4 billion in 2010. Gains will be propelled by a stream of new and technologically advanced product introductions offering age-defying and other appearance- enhancing benefits for an aging population.
Press Release Body = Cosmeceuticals forecasts to 2010 & 2015
US demand to grow 8.1% annually through 2010
Demand for cosmeceutical products is expected to increase 8.1 percent per year to $6.4 billion in 2010. Gains will be propelled by a stream of new and technologically advanced product introductions offering age-defying and other appearance- enhancing benefits for an aging population. With evidence regarding product claims far from conclusive in many instances, astute marketing will remain important. The value of chemicals used in cosmeceutical products is expected to advance 8.4 percent per year to $960 million in 2010, with gains spurred by the use of new and higher value-added active ingredients in product formulations.
Cosmeceutical chemicals to outpace finished products
Demand for cosmeceutical chemicals will continue to outpace finished products as producers increasingly invest research and development efforts in discovering more effective, value-added active ingredients to add to their product formulations. Chemicals used in professional products will drive gains, with strong advances expected for botulinum toxin, the key ingredient in BOTOX; and hyaluronic acid, the substance on which three recently introduced dermal fillers, CAPTIQUE, HYLAFORM and RESTYLANE, are based. In addition to dermal fillers, hyaluronic acid is finding greater use in over-the-counter age-defying products, particularly skin care items. Other cosmeceutical chemicals expected to record rapid gains include amino acids and antioxidants (e.g., vitamins A and C and smaller-volume coenzyme Q10), 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.
Skin care products to remain dominant; professional types to grow the fastest Skin care products will account for over half of all cosmeceutical product demand in 2010. Anti-aging products will achieve above-average growth, with gains driven by a highly receptive, fast-expanding group of middle-aged and relatively af- fluent 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 wide use of value-added age-defying products. Professional products are expected to be the fastest growing cosmeceuticals, achieving double-digit annual gains through 2010. Hyaluronic acid tissue fillers, for example, are expected to achieve rapid gains due to favorable performance characteristics over other tissue fillers.
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2022
