Makeup

Estee Lauder began marketing makeup to minorities in the U.S. during the recession, launching its M.A.C. stores. Now that line is the biggest selling makeup in several countries.

Anti-aging creams are a growing share of the cosmetics market, but the FDA warns that if companies claim pharmaceutical benefits from their products, the FDA will review them as drugs.

One of the fastest growing segments of the cosmetics market is actually products geared towards men. According to the research firm Mintel, sales of men's toiletries could hit $3.2 billion by 2016.

Right now the Food and Drug Administration is all but powerless to regulate cosmetics. Bills in Congress could give the industry a facelift by banning ingredients linked to cancer and other disorders.

Longtime CEO Andrea Jung will step aside as Avon faces management and growth challenges. She will remain chairman of the cosmetics firm.