| U.S. Cosmetic & Toiletry Chemical Demand |
to Reach $7.6 Billion in 2010
Monday July 10, 3:51 pm ET
CLEVELAND, OH--(MARKET WIRE)--Jul 10, 2006 -- Demand for cosmetic and toiletry chemicals in the U.S. is forecast to rise 5.4 percent per year to $7.6 billion in 2010. Favorable trends in demographics (e.g., an aging and increasingly ethnically diverse population), consumer desires to offset the effects of aging, and preferences for "natural" products will drive demand. As a result of these factors, active and plant-derived ingredients will benefit the most. These and other trends including market share, market leaders, market size and company profiles are presented in "Cosmetic & Toiletry Chemicals ," a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.
Growth in demand for active ingredients, such as enzymes, amino acids and peptides, will be propelled by continued gains in cosmeceutical skin care products and high value additives such as nanoscale ingredients. Natural products, such as botanical extracts, soy protein, and natural fats and oils, are expected to achieve healthy growth rates, as their incorporation in various formulated products continues to increase. Traditional cosmetic and toiletry chemicals, such as refined petroleum products and commodity surfactants, will experience limited gains, primarily due to the popularity of water-based formulations in skin and hair care products, the growing propensity on the part of consumers for products containing natural ingredients, and a trend away from harsh chemicals.
A handful of segments in the cosmetic and toiletry industry are poised to achieve rapid growth through 2010, including male grooming, ethnic products, anti-aging and 50+ individuals. For men, products such as specialized facial cleansers and skin care items, higher value shaving products and hair care preparations will continue to emerge, providing opportunities for many ingredients, including moisturizing additives. The growing non-white component of the U.S. population is prompting growth in ethnic products, particularly in cosmetics, skin care and hair care. Furthermore, the country's obsession with youth will continue to drive introductions of new anti-aging products containing active ingredients designed to enhance a person's appearance by reducing wrinkles, firming skin or lightening age spots. As more baby boomers enter their 50s, demand for hair care, cosmetics and skin care specifically formulated for gray hair and aging skin will be bolstered. Growth in this segment will bode well for active ingredients, delivery systems, and conditioning and moisturizing agents.
Source: The Freedonia Group, Inc.
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