International research firm Research and Markets has issued a report which observes that the “global personal care products industry” has experienced “good growth” during the past five years and “is expected to reach approximately $630 billion in 2017.” Titled the “Top Five Global Personal Care Products Manufacturers: Performance, Strategies and Competitive Analysis,” the report provides “detailed insight into the performance of the top five personal care products companies across the world, and cites rising population, [an] increase in household disposable income and changing spending habits in recent years among the reasons for the increased demand in the industry.”
Meanwhile, market research firm Global Information, Inc. (GII) reports that cosmeceuticals have become the “fastest growing” segment of the cosmetics and personal care industry and are estimated to reach “$31.84 billion by 2016.” In a report titled “Global Cosmeceuticals Market Outlook 2016,” GII observes that several factors are contributing to the growth, including “advancements in technology and the emergence of new ingredients . . . .”
Among other things, the report finds that (i) skin and hair care represent key segments in the cosmeceuticals market; (ii) tooth whitening and lip protection products are “emerging as key segments with significant growth”; and (iii) “research into new ingredients, such as stem cell and peptides for skincarebased cosmetics” is expected to play a dominant role in the market. See The Wall Street Journal, May 3, 2103; Global Information, Inc. News Release, April 10, 2013.