|Study Period:||2016 -2027|
|Fastest Growing Market:||Asia-Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The global cosmeceuticals market is projected to register a CAGR of 8.81% during the forecast period (2022 - 2027).
The outbreak of Covid-19 has had a significant impact on the market of global cosmeceutical products, and it has shown declining results in the growth rate. Due to the lockdown situation going on across the globe, cosmetic manufacturers had to shut down their production units as a result of the labor shortage. However, as the problem is improving globally, the market is set to revive, and sales are expected to recover in the coming years. Furthermore, raising awareness regarding cosmeceutical and cosmetics products, such as anti-aging, sun care, and hair care products, is expected to drive growth potential in the near future. Introducing new products with bio-active ingredients plays a crucial role in driving the demand for cosmeceutical products worldwide.
Countries such as the United States, Canada, United Kingdom, Germany, and other European countries held a prominent share in the global cosmeceuticals market. China, India, and Vietnam present considerable growth opportunities for the market players, primarily due to the growing millennial population. Moreover, the leading companies are eyeing e-commerce as an opportunistic market segment as retail stores are predicted to have fewer consumer visits until the pandemic ends. Thus, skincare brands such as Olay have partnered with Shopee for a new digital campaign targeted at the millennial consumer demographic as part of its strategic e-commerce growth plans for South East Asia.
Scope of the Report
The cosmeceuticals market offers a wide range of products categorized under skincare, haircare, lip care, and oral care. Also, the market covers the products available across distribution channels supermarket/hypermarkets, convenience stores, online stores, specialty stores, and others. Moreover, the study analyzes the cosmeceuticals market in the emerging and established markets worldwide, including North America, Europe, Asia-Pacific, South America, Middle East & Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
|By Product Type|
|By Distribution Channel|
|Online Retail Stores|
|Other Distribution Channels|
Key Market Trends
Growing Ageing Population
Consumers, especially the aging population, are increasingly looking for methods and products to maintain and improve their appearance to look youthful and beautiful, especially with the rising awareness about anti-aging products. Middle-aged people are increasingly witnessing aging anxiety due to the high prevalence of signs of aging. Anti-aging skin products are cosmeceuticals, as they overlap the distinction between cosmetics and pharmaceuticals. Over the past two decades, the declining fertility and mortality rate has resulted in a sustained rise in the aging population across the region, especially in China and Japan. The strong desire among men and women to retain youthful appearances has groomed and nurtured the cosmetic industry across the region.
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Asia-Pacific Fastest Growing Region in the Market
Though the term ‘cosmeceuticals’ started gaining momentum in China recently, it has become one of the most preferred product categories in the country. Busier and stressful lifestyles of consumers in the country and worsening environmental conditions created more concern around skin conditions among consumers seeking products for skin rejuvenation. This has led to an increase in sales of cosmeceuticals. Moreover, the population of Japan is among the most prolific consumers of cosmetics, placing it among the top five national markets for personal care products. From both size, trends, and market demand, Japan can be regarded as a gateway to other Asian markets. Success in the Japanese market can raise product/brand profile and visibility, particularly in other Asian markets.
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The most active companies in the market include key players, such as Procter & Gamble, Unilever, L'Oréal SA, Shiseido Co. Ltd, and The Estée Lauder Companies Inc. L'Oréal SA is one of the most active companies, with numerous brands offering a broad range of cosmeceuticals, across the world. The company has improved quality and product innovation regarding ingredients, functionality, and packaging. These companies have been taking significant measures to increase their market penetration worldwide by establishing regional hubs and innovation centers. Moreover, these players are increasing their investments in R&D and marketing. They are expanding their distribution channels to maintain their market positions and offer innovative and multi-functional cosmeceuticals.
Procter & Gamble
Shiseido Company, Limited
- In 2022, Shiseido is introducing a new skincare brand to its clean beauty portfolio as part of plans to grow its skin beauty portfolio to account for 75% of total sales in 2022.
- In 2021, Heliocare announced the launch of new sun protection products, including the Heliocare 360 Pigment Solution Fluid, which helps prevent and correct hyperpigmentation caused by sun damage. The product contains niacinamide to inhibit the transfer of melanin, while ellagic acid reduces melanin synthesis.
- In 2021, Australian clean cosmeceutical brand Biologi was taking a pro-aging approach with its latest serum which harnesses the power of phytonutrients to enhance the appearance of youthful skin rather than erase away wrinkles and lines.
- In 2020, European manufacturer and distributor of specialty chemicals and ingredients Cornelius announced the launch of the latest anti-aging skincare solution from its principal partner Silab.
Table of Contents
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
3.1 Market Overview
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Skin Care
18.104.22.168 Sun Protection
22.214.171.124 Other Skin Care Product Types
5.1.2 Hair Care
126.96.36.199 Shampoos and Conditioners
188.8.131.52 Hair Colorants and Dyes
184.108.40.206 Other Hair Care Product Types
5.1.3 Lip Care
5.1.4 Oral Care
5.2 By Distribution Channel
5.2.2 Online Retail Stores
5.2.3 Convenience Stores
5.2.4 Specialist Stores
5.2.5 Other Distribution Channels
5.3 By Geography
5.3.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.3.4 South America
184.108.40.206 Rest of South America
5.3.5 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Saudi Arabia
22.214.171.124 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 L'Oreal SA
6.4.2 Procter & Gamble
6.4.3 Unilever PLC
6.4.4 Shiseido Co. Ltd
6.4.5 Revlon Inc.
6.4.6 Groupe Clarins SA
6.4.7 Beiersdorf AG
6.4.8 Johnson & Johnson Inc.
6.4.9 Kao Corporation
6.4.10 Avon Products Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
Frequently Asked Questions
What is the study period of this market?
The Cosmeceuticals Market market is studied from 2016 - 2027.
What is the growth rate of Cosmeceuticals Market?
The Cosmeceuticals Market is growing at a CAGR of 8.81% over the next 5 years.
Which region has highest growth rate in Cosmeceuticals Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Cosmeceuticals Market?
North America holds highest share in 2021.
Who are the key players in Cosmeceuticals Market?
L’Oréal S.A., Procter & Gamble, Unilever plc, Shiseido Company, Limited, Revlon Inc. are the major companies operating in Cosmeceuticals Market.