LAS VEGAS—Cosmetics and personal care sales are expected to decline in the United States this year by 1.2 percent, but cosmeceutical products are expected to grow by 7.7 percent, said Lakshimi Prakash, Ph.D., vice president of innovation and business development at Sabinsa Corp. in a presentation at SupplySide West. She added for the first time, sales of anti-aging products surpassed facial cleaners in the United States.
Part of the reason for the drive in sales for cosmeceutical products includes direct sales to consumers and premium brands being offered at more affordable prices. Other drivers include the aging Baby Boomer population, greater purchasing power in developing markets, technical developments and increased competition.
With the growth in sales, now is an important time for those in the industry to be aware of what makes a product and cosmetic, cosmecutical or a drug. Claim language is important, she said. For instance, a cosmetic claim is “reduces wrinkles,” a cosmeceutical claim could be, “reduces wrinkles by 40 percent,” and a drug claim is “better than Botox.”
Up-and-coming trends in the cosmeceutical market include organic and sustainable products made with botanical extracts, she said. Hot ingredients include vitamins A, E, C and K; trace minerals like selenium and zinc; antioxidants; marine-derived ingredients; amino acid, superfruits and probiotics.