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Demand for Cosmeceutical Chemicals To Increase



Published November 22, 2005
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World demand for nutraceutical chemicals is expected to grow 6.1% a year to reach $9.6 billion by 2008, according to “World nutraceuticals” by The Freedonia Group, Cleveland, OH.
The U.S. is the largest market for nutraceutical products with sales of $173 billion, according to Freedonia. Other important markets are Western Europe and Japan. The fastest growing demand will come from developing nations of the Asia/Pacific, Latin America, Eastern Eur-ope and Africa/Middle East. Demand will be especially high for functional additives such as probiotics, omega-3 fatty acids, soy isoflavones and lycopene, according re-searchers at the Freedonia Group.
By category, The Freedonia Group anticipates world demand for nutrients and minerals to grow to $4.8 billion by 2008, and herbal and non-herbal extracts to grow 9.9% annually.
More info: www.freedoniagroup. com or Datamonitor at (212) 686-7400; Website: www.datamonitor.com.


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