World Cosmeceuticals Market to hit $42.4 billion by 2018 Says Latest Report

(PRWEB UK) 28 February 2013

Report Buyer has added a new report "Cosmeceuticals Market to 2018; Technological Advances and Consumer Awareness Boost Commercial Potential for Innovative and Premium-Priced Products". The report provides insights into the global cosmeceuticals market, which comprises the top seven developed markets: the US, the top five European countries (the UK, Germany, France, Italy and Spain) and Japan, with market forecasts until 2018.

According to the report the global cosmeceuticals market was estimated to be worth $ 30.9 billion in 2011. The market is forecast to hit $ 42.4 billion by 2018 at a CAGR of 4.6%. The industry has three major categories: skin care, hair care, and others. The skin care segment accounts for the largest share of the market with 43%. As it is dominated by anti-aging products it is expected to contribute significantly to future market growth owing to the aging populations in the top seven developed markets.

Cosmeceutical brand growth is further driven by expanded markets in Asia-Pacific, digital marketing and the offer of personalised customer experiences and e-commerce. Demand is driven by the emergence of the urban middle class with increased incomes, affordability and urbanisation who demand efficient products and luxury brands. Anti-oxidants remain one of the most popular ingredients for skin care and are now being included in other healthcare regimens for their perceived benefits to overall health.