The global cosmeceuticals market is projected to showcase a strong growth during the forecast period (2021–2030), on account of increasing consumer awareness about cosmetics, and ageing population creating high demand for anti-ageing products. Additionally, the growing adoption for cosmetics with natural ingredients and rising consumer spending in developing economies, such as China, India, and Brazil, are expected to augment the growth of the market in future.
The cosmeceuticals market is categorized into skin care, hair care, oral care, and others, on the basis of product type. Among these, the skin care category is expected to account for a significant market share in coming years. This can be ascribed to the maximum exposure of the skin to harmful ultraviolet radiation. This may lead to premature ageing, owing to which the adoption of skin care products has been witnessing a high demand. Moreover, the demand for cosmetics, such as sun blockers, moisturizers, and creams, for sun protection has been at a rise.
The cosmeceuticals market is classified, on the basis of distribution channel, into supermarkets & specialty stores, online platforms, and others. Of these, the supermarkets & specialty stores category accounts for a significant share in the market. This is primary attributed to the surge in opening up of supermarkets and increase in coverage of such outlets in new vicinities, wherein there has been low access to supermarkets. Additionally, the supermarkets offer high discounts, and also they serve as a one-stop destination for consumers.
Geographically, the Asia-Pacific (APAC) cosmeceuticals market is expected to hold the largest share in coming years. This can be ascribed to the increasing consumer spending and rising disposable income, which are creating a high-volume demand for cosmetics in countries such as China, India, Thailand, Indonesia, and South Korea. Additionally, deteriorating environmental condition is leading the concerns to improve skin conditions in polluted cities of China and India. Owing to such factors, the demand for cosmeceuticals is projected to increase in the region, which, in turn, boosting the market growth during the forecast period.
The adoption of cosmetic products has witnessed a rapid surge on account of increasing consumer spending and rising concerns for premature ageing. Moreover, the shift of cosmetic manufacturers to India, Thailand, and Vietnam is creating numerous growth opportunities, with an access to a large chunk of population. Additionally, the increasing awareness on natural and organic cosmetics is further expected to drive the cosmeceuticals market during the forecast period.
In recent years, the evolution of counterfeit products as an alternative to high cost branded products has created a huge hindrance for product manufacturers. The replicated products in the cosmeceuticals market deteriorate the image for original brands, owing to the usage of low-quality raw materials. This results in loss of market coverage by the original brands. Therefore, such factors are likely to curtail the market growth to a certain extent during the forecast period.
Some of the companies operating in the global cosmeceuticals market are Johnson & Johnson Inc., The Procter & Gamble Company, Shiseido Company Limited, L'oréal Group, Unilever, Croda International Plc., and Beiersdorf AG.
The study provides the historical as well as the forecast size of the cosmeceuticals market.
The cosmeceuticals market report offers comprehensive market segmentation analysis along with market estimation for the period 2015–2030.
Based on Product Type
Based on Distribution Channel
Based on Material
Based on Ingredient
Geographical Analysis
Get a bespoke market intelligence solution
Our dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you
Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights
With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required
We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws
