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Defying market maturity

SpecialChem / Doris De Guzman – Apr 26, 2007

The foundation of the anti-aging segment's double-digit growth is in the development of new and formulation-improved cosmeceutical products. US demand for cosmeceuticals - loosely defined as cosmetic products that have medicinal or drug-like benefits - is projected to increase 8.5%/year to over $8bn in 2010, according to Freedonia Group. Demand is propelled by new and technologically advanced product introductions offering age-defying and other appearance-enhancing benefits, says Freedonia analyst Pam Prokop.Cosmeceutical products, however, face intense pricing competition due to the growing market penetration of private label cosmeceutical brands and the rapid commercialization of innovative ingredients and products. Other chemicals expected to record rapid gains include amino acids and antioxidants, which are the active ingredients in many anti-aging creams and lotions botanical extracts, which serve a variety of cosmeceutical functions and beta hydroxy acids, which are said to offer exfoliant and cell renewal properties with less risk of adverse reactions than other chemicals.

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