Skin Care Segment Leads the Global Cosmeceuticals Market: TechNavio Research Report

LONDON - Oct. 7, 2013 - PRLog -- TechNavio, the independent London-based research firm today published its research report on Global Cosmeceuticals Market for the period 2012-2016. The report identifies ‘Skin Care Segment’ as the top contributor followed by the ‘Hair Care’, ‘Injectables’, ‘Lip Care’, ‘Tooth Whitening’, and others segments.

The report talks about the various growth drivers that are helping this market have a wider appeal among the mass public. Some of the drivers include growing beauty consciousness among people, especially the aging population, as well as increasing number of product offerings that can improve the appearance of the skin and protect the skin from ultraviolet rays.

In addition, increasing partnerships between vendors and physicians, increasing consumer awareness due to marketing and promotional initiatives by vendors, and a growing population of professionals in all countries are helping the Cosmeceuticals Market to evolve with times.

Thanks to the lucrativeness of this market, major players like Procter & Gamble, L’Oréal, Unilever and Beiersdorf are now facing competition from more than 400 smaller vendors offering similar products in the cosmeceuticals space. As a result, vendors are spending a large amount on R&D activities to stay afloat in the highly competitive market. For this reason, we expect to witness an increase in the number of niche cosmeceutical products catering to distinct consumer needs in the coming years.

Speaking on this occasion, one of the senior analyst and co-author of this report said, “The Global Cosmeceuticals market was dominated by Europe, followed by North America and the rest of the world in 2012. The overall market is expected to grow at a CAGR of 7.28 percent during the forecast period.”

To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of drivers, challenges, and trends of this market featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in order of importance.

If you are interested in more information on this topic and our upcoming research on http://www.technavio.com/report/global-cosmeceuticals-market-2012-2016 please send an e-mail to media@TechNavio.com.

About TechNavio

TechNavio is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.

TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.

TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of the Global Cosmeceuticals Market. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

Decision makers and influencers in sales & marketing, strategy, product and R&D teams rely on research from TechNavio. We have a large and growing base of happy customers worldwide. Our customers include technology suppliers, end users, consulting companies, investment firms and research institutes.

Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.