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What’s Next for Cosmeceuticals and Nutricosmetics?
By: Eleni Grammenou, Euromonitor International
Posted: April 6, 2009, from the April 2009 issue of GCI Magazine.
page 4 of 4The economic downturn and concerns about costs, however, could significantly hinder demand for both cosmeceutical and nutricosmetic products. In addition, the industry must work to overcome consumers’ overriding skepticism as to the effectiveness of these products. Manufacturers will need to educate consumers on how and why cosmeceutical products differ from conventional cosmetics.
Some companies have strong faith in the continuing success of the cosmeceuticals market, and some, such as ingredient supplier Sabinsa, intend to launch a raft of new active ingredients aimed at fast-growing cosmeceutical markets. Nestle’s Laboratoires’ Innéov brand is currently experiencing success with its cosmeceutical range, and expects that to continue. All in all, this market could still hold room for growth despite a difficult economic climate.
Eleni Grammenou is an Euromonitor International industry analyst specializing in key trends and issues driving the global over-the-counter health care industry. She obtained a degree in business studies and marketing from Sheffield Hallam University in the U.K.