Cosmeceuticals Face $5 Billion in Sales
Baby boomers are opening their wallets to an increasingly sophisticated array of anti-aging products, creating a billion-dollar market in so-called “cosmeceuticals,” industry experts say. The cosmetics and pharmaceuticals hybrids are sold over-the-counter but have active ingredients like alpha hydroxy acids and vitamins that claim therapeutic benefits.
Last year, sales totaled $5 billion in the United States alone, according to MarketResearch.com, and delegates at a conference in London said the sector was now the fastest-growing in the $70-billion-a-year worldwide personal care market.
Moderator Comment: What do retailers need from manufacturers
to take advantage of the cosmeceutical market opportunity? [George
Anderson – Moderator]