Cosmeceuticals Market Analysis by SWOT, Investment, Future Growth and Major Key Players 2023 to 2032
Cosmeceuticals Market Global Sales are Expected to Reach US$ 123.20 Billion by 2032
SANTA ROSA, CALIFORNIA, USA, April 18, 2023/EINPresswire.com/ — The Global Cosmeceuticals Market Share, Trends, Analysis and Forecasts, 2019-2032 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The global cosmeceuticals market was estimated to be US$ 57.06 Billion in 2022 and is expected to reach US$ 123.20 Billion by 2032 at a CAGR of 8.0%. Cosmeceuticals are cosmetic products that contain bioactive ingredients with pharmaceutical-like benefits. They are products that are designed to provide both cosmetic and therapeutic benefits to the skin, hair or nails.
Unlike traditional cosmetics, which are primarily intended to improve the appearance of the skin or hair, cosmeceuticals contain active ingredients that have been clinically proven to provide therapeutic benefits. These ingredients can include vitamins, minerals, botanical extracts, peptides, and other bioactive compounds that have been scientifically shown to improve the health and appearance of the skin.
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Cosmeceuticals can be used to treat a variety of skin concerns, including aging, hyperpigmentation, acne, and inflammation. They are often available only through dermatologists, plastic surgeons, or other medical professionals, as they are typically more potent than over-the-counter cosmetic products.
Growth driving factors of Global Cosmeceuticals Market
Following are some of the major factors driving the market –
Increasing consumer demand for anti-aging and skincare products: The demand for cosmeceuticals is being driven by the increasing global focus on healthy aging and the desire for youthful and healthy skin. This trend is being fueled by various factors such as increased disposable income, the desire for improved appearance, and social media influencers promoting skincare and beauty products. Additionally, an aging population and rising life expectancy are contributing to the growing demand for cosmeceuticals.
Growing prevalence of skin diseases and conditions such as acne and rosacea: Skin diseases and conditions are becoming more common due to environmental factors, pollution, and changing lifestyles. As a result, there is a growing demand for cosmeceuticals that offer therapeutic benefits for a range of skin concerns, such as acne, rosacea, and hyperpigmentation.
Rising awareness and adoption of organic and natural cosmeceuticals: Consumers are becoming increasingly conscious of the potential health risks associated with certain chemicals and ingredients found in traditional cosmetic products. As a result, there is a growing demand for cosmeceuticals made from natural and organic ingredients, which are seen as safer and more sustainable.
Technological advancements and product innovations in the industry: Advances in technology are driving product innovation and creating new opportunities for the development of novel cosmeceuticals. For example, the use of nanotechnology and biotechnology is enabling the development of more effective and targeted skincare products.
Increasing disposable incomes and changing lifestyles, especially in emerging markets: With increasing disposable incomes and changing lifestyles, consumers in emerging markets are spending more on personal care and beauty products. This trend is being driven by factors such as urbanization, the rise of the middle class, and changing cultural attitudes towards personal grooming and appearance. As a result, there is a growing demand for cosmeceuticals in emerging markets, particularly in Asia-Pacific and Latin America.
The leading market segments of Global Cosmeceuticals Market
Based on ingredients, the largest segment is the moisturizers segment. This is because moisturizers are an essential component of most skincare routines and are used by a wide range of consumers. Moisturizers help to hydrate the skin and lock in moisture, providing a range of benefits such as preventing dryness, reducing the appearance of fine lines and wrinkles, and improving overall skin health. As a result, moisturizers are in high demand and are a staple of the skin care industry.
One key trend specific to the moisturizers segment is the increasing use of natural and organic ingredients. Many consumers are becoming more conscious of the potential health risks associated with certain chemicals and are seeking out natural and organic alternatives. As a result, companies are developing moisturizers made from ingredients such as coconut oil, jojoba oil, shea butter, and aloe vera, among others. In addition, moisturizers with added sun protection are also becoming more popular, as consumers seek out multi-functional products that provide both hydration and protection from the sun’s harmful rays.
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Another trend specific to the ingredients segment is the growing use of peptides and proteins. Peptides and proteins are amino acid compounds that can provide a range of benefits for the skin, such as reducing the appearance of fine lines and wrinkles, improving skin texture and tone, and promoting overall skin health. As a result, products containing peptides and proteins are becoming more popular, particularly among older consumers who are looking for anti-aging products. Overall, the ingredients segment is expected to continue to see growth and innovation as companies develop new and more effective ingredients to meet consumer demand.
Geographically, The North American region is currently the largest market for cosmeceuticals, accounting for a significant share of the global market. The high demand for cosmeceuticals in North America is due to several factors, such as the increasing aging population, high disposable income, and the presence of several leading cosmeceutical companies in the region. Additionally, the growing trend towards natural and organic cosmetics is also driving the demand for cosmeceuticals in this region.
While, the Asia-Pacific region is the fastest-growing market for cosmeceuticals, with countries such as China, Japan, South Korea, and India witnessing a significant increase in demand for cosmeceuticals. The growth of the Asia-Pacific market is due to factors such as increasing disposable incomes, changing lifestyles, and growing awareness about skin health and beauty. In addition, the region is home to several leading cosmeceutical manufacturers and suppliers, which is contributing to the growth of the market.
The key players of the Global Cosmeceuticals Market are:
Chanel (France), Estée Lauder (USA), Johnson & Johnson (USA), Kao Corporation (Japan), L’Oréal (France), LVMH (France), Natura & Co (Brazil), Procter & Gamble (USA), Revlon (USA), Shiseido (Japan), The Body Shop (UK), Unilever (UK/Netherlands), Amorepacific (South Korea), Avon Products (USA), Coty Inc. (USA), and Others.
• Skin Care
o Sun Protection
o Skin Whitening
o Professional Skincare
• Hair Care
o Hair Growth
o Lip Care
o Tooth Whitening
o Anti-Cellulite/Body Slimming Preparations
• Peptides & Proteins
By Distribution Channel:
• Online Platforms
• Supermarkets and Specialty Stores
• North America
* United States
* Rest of North America
* United Kingdom
* Rest of Europe
• Asia Pacific
* South Korea
* Rest of Asia Pacific
• Middle East & Africa
* Saudi Arabia
* South Africa
* Rest of the Middle East & Africa
• South America
* Rest of South America
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