Age-defying products
This article was originally published in The Rose Sheet
Executive Summary
U.S. retail sales of anti-aging products will climb to $4.3 bil. by 2003, two-and-a-half times 1998 sales, according to a study published by Kalorama Information. Sales in the cosmeceutical market have grown more than 18% to $507 mil. from 1994 to 1998 and are expected to total $909 mil. in 2003, the study reports. Marketers of mass-oriented cosmeceutical lines include Cosmair's L'Oreal Plentitude, Johnson & Johnson's Neutrogena and Procter & Gamble's Olay, while Estee Lauder is a "significant" player in prestige skin care sales, Kalorama says. Aging baby boomers and a substantial increase of new products contributed to the industry's dramatic growth, the report says