The latest market research shows that US demand for cosmeceutical products is set to increase by 5.8 percent per annum to $8.5bn in 2015. The research, compiled by US market research company The Freedonia Group, found the target market for cosmeceuticals is expanding beyond the traditional 45-years-and-older demographic to include younger consumers.The study also found that the chemicals used in cosmeceuticalproducts provide brands with the competitive advantage of product differentiation. In terms of ingredients, antioxidants are expected to remain the largest category, while botanicals are tipped to see the fastest growth in demand as the trend continues toward consumers favouring natural products.
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