Cosmeceuticals Market Growth Report & Regional Outlook 2028
[Research Report] The cosmeceuticals market size is expected to grow from US$ 45,916.66 million in 2021 to US$ 81,753.36 million by 2028; it is estimated to record a CAGR of 8.6% from 2021 to 2028.
Analyst Perspective
The Cosmeceuticals market implies to a segment within the cosmetics industry that combines products with pharmaceuticals properties. These products bridge the gap between traditional cosmetics and pharmaceuticals by offering more targeted and scientifically advanced formulations. The cosmeceuticals market is driven by factors such as increasing consumer awareness about personal appearance, rising disposable incomes, and growing demand for anti-aging and skin care products. Advances in technology and research have also contributed to the development of innovative cosmeceutical products. The product category within the cosmeceutical market includes skin care, hair care, oral care, sunscreens are among the most popular in this segments. Hair care products focus on improving hair health, addressing issues like hair loss, dandruff. Oral care cosmeceuticals include toothpaste, mouthwash, and other products that promote oral health. Cosmeceuticals products are primarily distributed through various channels such as retail stores, speciality outlets, e-commerce platforms have played a significant role in expanding the market growth and accessibility of cosmeceuticals.
Market Overview
Cosmeceuticals are cosmetic products that contain bioactive ingredients with potential pharmaceuticals properties. Cosmeceuticals are designed to provide cosmetic benefits while also targeting specific skin or hair concerns, offering more than just aesthetic improvements. The distinction between cosmeceuticals and regular cosmetic lies in the ingredients that have been scientifically researched and proven to provide specific benefits to the skin and hair. These ingredients may include antioxidants, peptides, vitamins, retinoids, hyaluronic acid, botanical extracts, and other bioactive substances. The cosmeceuticals market has seen significant growth as consumers increasingly seek products that provide both cosmetic and skin or hair health benefits. The cosmeceuticals market is highly competitive, with several major players and numerous smaller companies operating globally. The companies invest heavily in research and development to introduce innovative cosmeceuticals products and maintain a competitive edge. The cosmeceuticals market is driven by innovation, scientific advancements, and evolving consumer preferences, creating opportunities for both established players and new entrants.
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Cosmeceuticals Market: Strategic Insights
Cosmeceuticals Market
-
CAGR (2021 - 2028)
8.6%
-
Market Size 2021
US$ 45.92 Billion
-
Market Size 2028
US$ 81.75 Billion
Market Dynamics
GROWTH DRIVERS
- Increasing consumer awareness of skincare benefits
- Rising disposable incomes
- Growing demand for natural and organic products
- Advancements in formulation and delivery systems
- Rising prevalence of skin-related issues
- Increasing penetration of e-commerce
FUTURE TRENDS
- AI-powered personalized skincare
- Increased use of biotech ingredients
- Focus on preventive skincare
- Integration of wearable technology
- Rise of clean and ethical beauty
- Emphasis on mental health and wellness through skincare
OPPORTUNITIES
- Development of innovative products
- Expansion into emerging markets
- Customization and personalization of products
- Strategic partnerships and collaborations
- Focus on clean beauty and sustainability
- Investment in research and development
Key Players
- L
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Active Ingredient
- Antioxidants
- Peptides and Proteins
- Exfoliants
- Retinoids
- Botanicals
Distribution Channel
- Supermarkets/Hypermarkets
- Online Retail Stores
- Convenience Stores
- Specialist Stores
- Other Distribution Channels
Product
- Skin Care
- Hair Care
- Oral Care
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Cosmeceuticals Market: Strategic Insights
-
CAGR (2021 - 2028)8.6% -
Market Size 2021
US$ 45.92 Billion -
Market Size 2028
US$ 81.75 Billion
Market Dynamics
- Increasing consumer awareness of skincare benefits
- Rising disposable incomes
- Growing demand for natural and organic products
- Advancements in formulation and delivery systems
- Rising prevalence of skin-related issues
- Increasing penetration of e-commerce
- AI-powered personalized skincare
- Increased use of biotech ingredients
- Focus on preventive skincare
- Integration of wearable technology
- Rise of clean and ethical beauty
- Emphasis on mental health and wellness through skincare
- Development of innovative products
- Expansion into emerging markets
- Customization and personalization of products
- Strategic partnerships and collaborations
- Focus on clean beauty and sustainability
- Investment in research and development
Key Players
- L
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Antioxidants
- Peptides and Proteins
- Exfoliants
- Retinoids
- Botanicals
- Supermarkets/Hypermarkets
- Online Retail Stores
- Convenience Stores
- Specialist Stores
- Other Distribution Channels
- Skin Care
- Hair Care
- Oral Care
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Driver
Development Opportunities in Emerging Countries to Drive market Growth
The emerging markets in regions such as the Middle East, Africa, and Asia Pacific are creating significant opportunities for the key market players to expand their businesses. The majority of players concentrate on developing markets, such as India and China, owing to the large population suffering from chronic diseases in these countries. With rising production costs against their practices, the healthcare companies are striving to produce sufficient revenue to entertain their investors. The markets in a few growing economies are expected to be an essential part of offering more reliable and profitable growth opportunities for the major players to expand their industry and geographic scope.
Advancements in biotechnology have increased the demand for cosmeceuticals, encouraging the introduction of more customized products and facilitating the shift toward personalized cosmeceuticals. Various players in the industry have been investing a significant amount of their revenue in R&D activities to develop better and advanced products and technologies to be used in the Cosmeceuticals market. The Asia Pacific market is anticipated to have the fastest growth during the forecast period due to the presence of significant biopharmaceutical companies in countries such as Japan and the growing number of local companies in countries such as China and India. These activities in the region are increasing the demand for cosmeceuticals in the region and is anticipated to provide significant growth opportunities to the players operating in the cosmeceuticals market during the forecast period. Thus, the factors mentioned above are driving the cosmeceuticals market during the forecast period.
Segmental Analysis
Based on products, the cosmeceuticals market is categorized into skin care, hair care, oral care, and others. In 2021, the skin care segment is likely to hold the largest share of the cosmeceuticals market. Moreover, the same segment is also expected to witness growth in its demand at a fastest CAGR in cosmeceuticals market during 2021 to 2028, owing to the increasing demand of sunscreens in tropical countries and anti-ageing products across the globe. The growing prevalence of skin-related problems has propelled the growth of skin care segment in the cosmeceuticals market. Use of skincare products has increased due to climate change and its impact on the skin. The growing number of industries has resulted in higher levels of pollution in cities, which may have negative effects on the skin, prompting individuals to seek more skincare products for protection. UV protection is extensively advocated and emphasized by dermatologists, cosmetologists and other experts as one of the most critical skincare requirements. Consumers are increasingly aware that they must protect themselves not just from UV rays, but also from blue light, smoking, smog, pollution, germs, bacteria and viruses. As a result, manufacturers must focus on more specialized sunscreens, blue light protection therapies, antioxidant serums and antimicrobial product innovations. For instance, In Jan 2023, Oriflame launched a cosmeceutical range to expand skincare offerings. Oriflame expanded its skincare offering to the Indian market and launched its first range of ‘cosmeceutical’ products named ‘NovAge Proceuticals’. The cosmetics and beauty business’ new line is designed to address its customers’ specific skin challenges. Thus, the factors mentioned above are driving the skin care segment in cosmeceuticals market during the forecast period.
Regional Analysis
The North America cosmeceuticals market was valued at US$ 12,918.33 million in 2021 and is projected to reach US$ 23,275.18 million by 2028; it is expected to grow at a CAGR of 8.8% during the forecast period. The North America cosmeceuticals market is segmented into the US, Canada and Mexico. The United States held the largest market in North America for cosmeceuticals, and the cosmeceuticals market is expected to grow due to increasing demand of anti-ageing products and increased adoption of online and e-commerce buying structure for cosmeceuticals. The trend of awareness related to skin, hair, and oral hygiene for health purpose, represents an unprecedented opportunity for improving public health in the country. These increasingly powerful services are proving to be a lifeline for people who need improved access to health services, which will fuel the growth of cosmeceuticals market.
Moreover, consumers are trying new products and are interacting with brands in new ways, which has been made possible due to the emergence of beauty vloggers, who share YouTube tutorials and Instagram stories about their favorite face creams, lipsticks, mascara, compact powder, etc. Many cosmeceutical companies have begun to abandon conventional ads and prefer hiring big faces and influencers for promoting their brands to target customers. Therefore, the US cosmeceuticals market has experienced a boom in the demand for cosmetic products in the historical period. Thus, above mentioned factors are expected to propel the cosmeceuticals market growth in the region.
Key Player Analysis
The cosmeceuticals market analysis consists of players, such as as L'Oreal S.A., Beiersdorf Global, Croda International, Amway Corp., Allergan, Unilever PLC, Johnson & Johnson, Procter & Gamble, Avon Products Inc., and BASF SE, among others are the top two players owing to the diversified product portfolio offered.
Cosmeceuticals Market Report Scope
Report Attribute
Details
Market size in 2021
US$ 45.92 Billion
Market Size by 2028
US$ 81.75 Billion
Global CAGR (2021 - 2028)
8.6%
Historical Data
2019-2020
Forecast period
2022-2028
Segments Covered
By Active Ingredient - Antioxidants
- Peptides and Proteins
- Exfoliants
- Retinoids
- Botanicals
By Distribution Channel - Supermarkets/Hypermarkets
- Online Retail Stores
- Convenience Stores
- Specialist Stores
- Other Distribution Channels
By Product - Skin Care
- Hair Care
- Oral Care
Regions and Countries Covered
North America - US
- Canada
- Mexico
Europe - UK
- Germany
- France
- Russia
- Italy
- Rest of Europe
Asia-Pacific - China
- India
- Japan
- Australia
- Rest of Asia-Pacific
South and Central America - Brazil
- Argentina
- Rest of South and Central America
Middle East and Africa - South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
Market leaders and key company profiles
- L
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Attribute | Details |
---|---|
Market size in 2021 | US$ 45.92 Billion |
Market Size by 2028 | US$ 81.75 Billion |
Global CAGR (2021 - 2028) | 8.6% |
Historical Data | 2019-2020 |
Forecast period | 2022-2028 |
Segments Covered |
By Active Ingredient
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Recent Developments
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the cosmeceuticals market. A few recent key market developments in the cosmeceuticals market are listed below:
- In Aug 2021, Shiseido Company, Limited announced a framework agreement between its China subsidiary, Shiseido China Co., Ltd., and Boyu Capital to launch the Shiseido Beauty Innovations Fund. The operation of the Fund will be conducted by Boyu and Shiseido and is scheduled to start this year after completion of relevant regulatory filings in China. The Fund will explore investment opportunities among China’s emerging brands in cosmetics and wellness, as well as in related technology companies such as e-commerce services and consumer experience technology.
- In Jul 2021, L'Oreal Groupe launched its first ever TikTok beauty channel driven by a progressive vision of the beauty industry's future, the channel uncovers the group's science, innovations and technologies beyond the world's favorite beauty products. Working in collaboration with experts from L'Oreal, this new channel delivers content that combines science, innovation, tech behind beauty products.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Active Ingredient, Distribution Channel, and Product
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, RoAPAC, RoE, RoMEA, RoSCAM, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The cosmeceuticals s market majorly consists of the players such L’Oréal S.A.; Beiersdorf Global; Croda International; Amway Corp.; Allergan; Unilever PLC; Johnson & Johnson; Procter & Gamble; Avon Products Inc.; Estée Lauder Inc.; Shiseido Company Limited; and BASF SE.
The global cosmeceuticals market based on application is divided into skin care, hair care, oral care, and others. In 2022, the skin care segment is likely to hold the largest share of the market. Moreover, the skin care segment is also expected to witness growth in its demand at a fastest CAGR of 9.0% during 2022 to 2028, owing to the increasing demand of sunscreens in tropical countries and anti-ageing products across the globe.
Cosmeceuticals are products that have both cosmetic and therapeutic (medical or drug-like) effects and are intended to have a beneficial effect on skin health and beauty. Like cosmetics, they are applied topically as creams or lotions but contain applications that have an effect on skin cell function. In some cases, their action is limited to the skin surface (such as exfoliants), while others can penetrate to deeper levels, either enhancing or limiting normal skin functions. Cosmeceuticals are available “over-the-counter†(without prescription) and are generally used as part of a regular skin care regime to help improve skin tone and texture, pigmentation and fine line.
Key factors that are driving growth of the market are increasing adoption of grooming and hygiene amongst aging population, and high demand during COVID-19 pandemic. However, security and privacy issues are expected to restrict the market growth during the forecast period.
The List of Companies - Cosmeceuticals Market
- L’Oréal S.A.
- Beiersdorf Global
- Croda International
- Amway Corp.
- Unilever PLC
- Johnson & Johnson
- Procter & Gamble
- Avon Products Inc.
- Estée Lauder Inc.
- Shiseido Company Limited
- BASF SE