Cosmeceuticals Market
Cosmeceuticals are cosmetic products laced with ingredients which have medicinal properties. Cosmeceuticals is not a FDA approved term so the products sold under Cosmeceutical industry are termed as cosmetic products according to FDA. These products are applied on the outer skin/scalp similar to cosmetics but contain added ingredients with penetrate into skin to deliver essential nutrients to promote healthy skin or hair growth. Cosmeceuticals for skin care dominate the sales in the market primarily due to high demand for anti-aging products. Increasing median age population in highly developed economies such as U.S., U.K., Japan and Canada is fuelling the sales of anti-aging cosmeceutical products. Global cosmeceuticals market is estimated to grow at a CAGR of 9.2% through 2020.
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