Cosmeceuticals Market Hits Mainstream Retail, Leaps Past $13 Billion in 2005: Study
NEW YORK -- America's addiction to youthful-looking skin has moved into the mainstream, from Botox and facelifts in the growing world of cosmeceutical treatments. This market, which includes products from anti-wrinkle creams and home facial peel kits to lip-plumping lipstick and vitamin-infused shampoo, last year jumped 7 percent to more than $13.3 billion, according to "Cosmeceuticals in the U.S.," a new report from market research firm Packaged Facts.
According to the study, the cosmeceuticals market, made up of skin care, makeup, and hair care products, will surpass $17 billion in 2010, with expected growth for the entire period between 2005 and 2010 showing a total gain of 29.4 percent, or $3.9 billion. At $7 billion in 2005, skin care is the leading category, and anti-aging creams, micro-dermabrasion home kits, and wrinkle remedies -- often "doctor endorsed" -- have exploded onto the retail scene, thanks to heavy in-store promotion and advertising.
"The stereotype of this being a 'women only' market is passé, as increasingly men, twentysomethings, and, surprisingly, teens, are fearing age and turning towards cosmeceuticals to retain their youth," notes Don Montuori, publisher of Packaged Facts. "While aging baby boomers are still the best target, marketers would be wise to not overlook the broader-reaching consumer base."
Indeed, the cosmeceuticals retail marketplace is becoming increasingly fragmented, as products are sold through an expanding range of upscale department stores and specialty stores: spas with retail counters, traditional department stores, mass channels (mainstream supermarkets, chain drug stores, mass merchandisers), and online.
"Cosmeceuticals in the U.S." reviews new cosmeceutical products and trends; offers competitive profiles of leading marketers, along with key advertising strategies; provides an in-depth analysis of the retail milieu; and looks at consumer trends and behaviors surrounding a wide range of cosmeceutical treatments.
According to the study, the cosmeceuticals market, made up of skin care, makeup, and hair care products, will surpass $17 billion in 2010, with expected growth for the entire period between 2005 and 2010 showing a total gain of 29.4 percent, or $3.9 billion. At $7 billion in 2005, skin care is the leading category, and anti-aging creams, micro-dermabrasion home kits, and wrinkle remedies -- often "doctor endorsed" -- have exploded onto the retail scene, thanks to heavy in-store promotion and advertising.
"The stereotype of this being a 'women only' market is passé, as increasingly men, twentysomethings, and, surprisingly, teens, are fearing age and turning towards cosmeceuticals to retain their youth," notes Don Montuori, publisher of Packaged Facts. "While aging baby boomers are still the best target, marketers would be wise to not overlook the broader-reaching consumer base."
Indeed, the cosmeceuticals retail marketplace is becoming increasingly fragmented, as products are sold through an expanding range of upscale department stores and specialty stores: spas with retail counters, traditional department stores, mass channels (mainstream supermarkets, chain drug stores, mass merchandisers), and online.
"Cosmeceuticals in the U.S." reviews new cosmeceutical products and trends; offers competitive profiles of leading marketers, along with key advertising strategies; provides an in-depth analysis of the retail milieu; and looks at consumer trends and behaviors surrounding a wide range of cosmeceutical treatments.