Americans are in love with beauty. They want things to be flawless, porcelain, pulled tight and sealed with a never-ending glow of youth. America’s borderline narcissism may be pernicious to the mental well-being of those unable to meet, or forever striving to meet, its unforgiving standard; but, as long as they don’t turn into a flower like Narcissus, it’s actually a good thing, that is, for cosmeceutical formulators and manufacturers. In fact, cosmeceuticals are booming, creating competition for its pharmaceutical counterpart.
“Nutraceuticals and other natural products are always competing with pharmaceutical and over-the-counter products,” said Steve Holtby, president and CEO, Soft Gel Technologies Inc. “Although the often immediate results of pharmaceuticals might be favorable to many, there are always those that would prefer an effect they consider more natural. So where there’s Botox, there’s also omega fatty acids and hyaluronic acid.”
Consumers really are starting to question what’s in their personal care items and they’re thinking twice before slapping on an unknown face cream. “Lanolin-based topicals containing a few exotic ingredients thrown into a high-tech package with a celebrity endorsement are beginning to seem a bit ‘last century’,” said John Hunter, general manager of FutureCeuticals. “Consumers are looking for more science. They want to understand why a skin-health program makes sense and the products they are taking were designed by real scientists who have actually done the research.”
Cosmeceutical is a newer term, and its definition is a little debated, but in a general sense, cosmeceuticals are a blending between cosmetics and pharmaceuticals/nutraceuticals. “Cosmetics are used for beauty or style purposes and merely cover the skin, hair and nails. Examples of cosmetics include makeup and hair dye,” said Robyn Milewski, CEO, Pure SKN. “Cosmeceuticals, on the other hand, are used to actually improve or enhance the skin’s appearance with biologically active ingredients such as alpha-lipoic acid (ALA) and dimethylaminoethano (DMAE). These include many non-prescription anti-aging products.”
"Math is the only place where truth and beauty mean the same thing." – Danica McKellar
Do the Math
From sun care to skin whitening, the stubborn beauty and cosmetic markets have tenaciously refused to be affected by the global economic turndown and are still reporting growing pains, without the pain. By 2014, the beauty and cosmetics industry is expected to increase globally by 8.5 percent, according to EuroMonitor International. Kline Group’s Natural Personal Care 2009 report noted more than a 15-percent compound annual growth rate (CAGR) over the last five years in natural personal care products. It also reported booming international markets, including: Brazil, the second-largest single country market for naturals in the world, posted a 15-percent increase from 2008 to 2009; and Asia boasts a 40-percent share of the global market for natural personal care products.
Many market drivers are pushing the cosmeceutical beauty sector, and consumers’ “hands on” approach to their health is only the beginning. “The desire for a healthy lifestyle is driving consumers to make more informed and intelligent decisions about the foods they eat, or products they put on their skin,” said John P. O'Keefe, director at AAK Lipids for Care, North America.
Mineral makeup is becoming more pervasive and swelling marketplace shelves and cosmetic counters with its “natural appeal.” Thanks to Bare Escentuals and its TV debut, mineral makeup sales have skyrocketed, and its 15 minutes of fame has lasted a lot longer than 15 minutes.
Like “cosmeceutical,” the definition of “mineral makeup” is not exact, but according to Mintel, mineral makeup, “Is usually made from naturally occurring pigments from the earth, and is formulated with mica, titanium dioxide, zinc and iron oxides.” Mintel’s GNPD analysis said, “Mineral makeup is so well established that it is present in all distribution channels and at all price points in most markets.” Global and niche brands alike have been adding mineral lines to their existing product portfolios since 2007; however, even though launch activity has increased steadily since 2006, it started to plateau in 2009.
Kline stated: “In Asia, as in most other parts of the world, makeup is a fast-growing category. In January 2010, Tokyo-based cosmetics giant Shiseido acquired mineral makeup pioneer Bare Escentuals in a move that will no doubt continue the proliferation of natural makeup products across Shiseido’s already strong presence in the regional marketplace.”