Regional Analysis
Europe is holding the maximum share of the cosmeceuticals market owing to rising adoption of beauty products supported by increasing health concern among consumers. Cosmeceutical consumers in this region are more aware of the importance of healthy lifestyles. They take more responsibility for their personal health, integrating mental and physical well-being.
The US cosmeceuticals market has witnessed remarkable growth in recent years, fueled by factors such as growing awareness of skincare, rising disposable incomes, and advancements in skincare technology. Market reports indicate that the US cosmeceuticals market is valued at billions of dollars and is expected to continue expanding at a steady rate in the foreseeable future.
The cosmetics market size was estimated at USD 14.5 billion in 2022. It is anticipated that the market for cosmetics will increase from USD 15.64 billion in 2023 to USD 24.67 billion in 2030, with a compound annual growth rate (CAGR) of 7.89% over the five-year projection period (2023–2030). The primary market drivers boosting market growth are expanding consumer awareness, rising disposable incomes, technological advancements, rising demand for natural and organic products, expansion of e-commerce, and celebrity endorsements.
North America is also showing a decent growth of cosmeceuticals owing to strong economy leading to maintenance of lifestyle standards. Asia-Pacific is expected to be a growing market for cosmeceuticals owing to high populated countries supported by rising per capita disposable income and an inclination towards globalization of lifestyle trends.
Market Highlights
Cosmeceuticals are cosmetics induced with pharmaceutical ingredients to enhance the health and beauty of various body parts. They include products for skin care, hair care, oral hygiene, and other health issues. Some cosmeceuticals are naturally-derived while others are synthetic, but all contain functional ingredients with either therapeutic, disease-fighting, enhancing, or healing properties. The use of cosmeceuticals has been first recorded in 4000 BC by the Egyptians. Since then the primary application of cosmeceuticals has been therapeutic. Pharmaceutical elements are often incorporated into cosmeceuticals as esters or mixtures of isomers that are neither absorbed nor metabolized by the skin.
The cosmeceuticals market is segmented in terms of product type that include skin care, hair care, oral hygiene, and others. Among these products types, the skin care products segment is expected to grow at the fastest rate. Skin care cosmeceuticals treat dermatologic diseases and includes products such as sunscreens, skin lightening agents, exfoliants, and anti-aging.
The cosmeceuticals market is also segmented by packaging materials into glass, plastic, metal, and others. Among these, the metal segment dominates the market because it protects cosmeceuticals from germs, moisture, and heat. Moreover, metal casing can be recycled after disposing, is unbreakable, and can be easily carried.
The distribution channel of cosmeceuticals has been segmented into store based and non-store based, for which store-based holds the maximum share as consumers favor consultations and testing of cosmeceutical products before purchasing.
Key Players
Some of the key players in the global cosmeceuticals market are L'Oréal S.A. (France), Allergan, Plc. (Ireland), Avon Products, Inc. (UK), Johnson & Johnson (US), Procter & Gamble Co. (US), The Estée Lauder Companies Inc. (US), Merck & Company, Inc. (US), Royal DSM NV (Netherlands), Unilever NV (Netherlands), and Evonik Industries AG (Germany).
Segmentation
The global cosmeceuticals market has been segmented into product type, packaging material, distribution channel, and region.
The market on the basis of product type has been segmented into skin care, hair care, oral hygiene, and others.
The market, by packaging material, has been segmented into glass, plastic, metal, and others.
The market, by distribution channel, has been segmented into store based and non-store based.
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Function
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Supply Chain Analysis
4.1.1 Raw Material Suppliers
4.1.2 Manufacturers/Producers
4.1.3 Distributors/Retailers/Wholesalers/E-Commerce
4.1.4 End-Users
4.2 Porter’s Five Forces Analysis
4.2.1 Threat Of New Entrants
4.2.2 Bargaining Power Of Buyers
4.2.3 Bargaining Power Of Suppliers
4.2.4 Threat Of Substitutes
4.2.5 Internal Rivalry
Continue….
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