International Research firm TechNavio has issued a report which forecasts that the global market for cosmetics chemicals will expand from $18.42 billion to $21.91 billion by 2016. North and South America and the Asia-Pacific region are expected to be the strongest areas of growth, driven by demand for bio-ingredients and skin care cosmeceuticals. Facial care products, apparently the largest driver of expansion, will be the strongest segment from 2011-2015, with sun care products, baby care products and skin care products for men expected to show high increases. Key industry trends will include the growing popularity of natural and organic products, increasing awareness about health and wellness, increasing acceptance of skin-whitening products, and an increased focus on marketing. Industry challenges will reportedly include regulatory barriers, particularly in the biotechnology and nanotechnology fields, and high research and development costs.