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Market Research Forecasts U.S. Retail Sales of Cosmeceuticals at $11.9 Billion by 2016(May 09, 2012)
ROCKVILLE, MD -- (Marketwire) -- 05/09/12 -- MarketResearch.com has announced the addition of the new report "Cosmeceuticals in the U.S., 6th Edition," to their collection of Cosmetics & Personal Care market reports. For more information, visit http://www.marketresearch.com/Packaged-Facts-v768/Cosmeceuticals-Edition-6281775/
Based on the factors and trends discussed throughout this report, Packaged Facts projects that U.S. retail sales of cosmeceuticals will reach $11.9 billion by 2016, with annual growth rates edging up from 3.5% in 2012 to 5.0% in 2016. This forecast is based largely on expected ongoing economic recovery, which will allow consumers to spend more freely, and on the growing number of cosmeceutical products targeting all age groups and genders.
Younger generations have grown up immersed in marketing messages making them both appearance-oriented and aware of the importance preventive healthcare. As a result, according to Packaged Facts publisher David Sprinkle, new marketing prospects are opening up at the younger end of the age spectrum, even as aging Boomers open their wallets ever wider to stave off the cosmetic tolls of aging. According to a March 2012 survey by Packaged Facts, 28% of U.S. adults purchase anti-aging products, while 15% purchase antioxidant products. Of those purchasing anti-aging products, the greatest percentage (39%) make their purchases at drugstores.
Still, cosmeceuticals marketers may take nothing for granted. Given the new budget constraints, shoppers expect the cosmeceuticals they buy to perform, and the faster the better. Thus any product with a quantifiable "instant gratification" benefit -- which has always been a powerful appeal in the color cosmetics category -- has an edge. In addition, with the upper end of the market rebounding the fastest, opportunities are greatest for premium mass market and specialty or prestige channel products, expressing pent-up post-recession demand.
For more information, visit http://www.marketresearch.com/Packaged-Facts-v768/Cosmeceuticals-Edition-6281775/
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