Cosmeceuticals have become the fastest-growing category in cosmetics and personal care, according to a new study. With the growing fascination among people to look young and the global population's increasing median age, the cosmeceuticals product market is growing at a significant rate. Advancements in technology and emergence of new ingredients have further contributed to the progress in the commercialization of cosmeceutical products worldwide. In 2011, the market reached $30.5 billion and is likely to augment at a rapid pace in the coming years growing at a CAGR of around 7.7% during 2012-2016.
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