Organic and anti-aging products to rev up US cosmetics market growth

The US cosmetic and toiletry market will grow on the back of demand for natural and renewably sourced ingredients and anti-aging products, according to a study.

Market researcher Freedonia forecasts demand in North America for cosmetic and toiletry chemicals to grow by 4.9% per year to $9.4bn in 2016, with consumers preferring products with active ingredients to counter signs of aging and those which are sourced naturally.

As these products tend to be costlier than inactive or synthetic materials, it will boost dollar gains, according to Freedonia.

Among cosmetic and toiletry chemicals till 2016, the most rapid gains are expected from botanical extracts, as it is a many a consumers perception that they are more healthy and beneficial compared to synthetic chemicals.

Apart from organic ingredient content, consumers are increasingly expecting dramatic, more evident results from anti-aging products, which will boost demand for active ingredients.

Other products that are also expected to pick up in the near future are emollients, moisturising agents, and specialty additives, which will see quickest growth till 2016, owing to consumers expecting improved performance from their toiletries.

The perception among consumers that they are less irritating and are gentler than commodity chemicals also will drive their growth, Fredonia believes.

Men’s grooming products, which are rapidly gaining acceptance within society, is a niche segment that is on the verge of witnessing considerable growth.

Ethnic markets are also growth areas as cosmetics and shampoos are being formulated for different racial segments, such as African Americans, Asian Americans, and Hispanics.

Freedonia sees a lot more opportunity in products pitched for younger and older people’s developmental physiology, including face soaps for adolescents and anti-wrinkle creams for those putting on years.

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Source:

http://www.cosmeticsdesign.com/Market-Trends/US-cosmetics-market-to-be-driven-by-demand-for-naturals-and-anti-aging