Cosmetic and toiletries sales to reach $9.9bn in 2016: Study

Consumer demand in the US for cosmetic and toiletries is expected to rise by 5% annually to reach $9.9bn by 2016, according to market researcher Reportlinker’s study.

The report states that various segments in the cosmetics industry, including organic and natural products, male grooming, ethnic products and anti-aging, will witness a rapid growth, having a direct impact on the mix of the substances used in their formulation.

Trends favouring organic and natural formulations, an increasing Hispanic population prompting formulators to provide items that would meet this segment’s specific requirements and obsession in the US with youth promoting products are said to be the major growth drivers for this market.

The Reportlinker study also adds that the number of hair care, cosmetic and skin care products specifically formulated for grey hair and aging skin will increase.

The ingredients such as specialty additives, emollients and moisturising agents will have a sizeable growth in demand by 2016, as consumers expect to have higher performing products from the firms, according to the market researcher.

The study also foresees men’s products, including specialised facial cleansers and skin care items, premium shaving products and hair care preparations continuing to grow substantially.