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Cosmeceutical Market Growing 4.6%

Source:Happi     Date:2013-01-23
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The cosmeceuticals markets in the US, UK, France, Germany, Italy, Spain and Japan were worth $30.9 billion in 2011, and is expected to reach $42.4 billion by 2018, following a CAGR of 4.6%, according to a new study by GBI Research. Presently, cosmeceutical companies rely on developed nations, but increasing wealth in emerging markets such as Latin America, China and India is expected to see products reach an even wider audience in the future.

GBI notes that the market is dominated by a small number of large players such as Procter & Gamble (P&G), L'Oréal, Unilever and Beiersdorf, which market big brands such as Olay, L'Oreal, Garnier and Nivea with massive marketing budgets.

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