Cosmeceuticals Market - Global Outlook & Forecast 2023-2028

Cosmeceuticals Market - Global Outlook & Forecast 2023-2028

The global cosmeceuticals market is expected to grow at a CAGR of 8.73% from 2022-2028.

Some Trending Factors in the Cosmeceuticals Market

• Innovation of natural ingredients.
• Significant penetration of internet, smartphone, and social media applications that attract potential consumer population.
• Constantly changing consumer behavior.
• Penetration of specialty active ingredients.
• Premium cosmeceuticals product entries.
• Plastic-free packaging.
• In skin care application categories, anti-aging product categories will be the next profit-delivering factor.
• The U.S., China, Japan, and Germany are leading markets. Conversely, India, Brazil, the U.K., France, and South Korea are rapidly growing market destinations.

Furthermore, the market classification based on application, consumers, and sale of cosmeceuticals offers vast market growth opportunities.

SEGMENTATION INSIGHTS

INSIGHTS BY APPLICATION

The global cosmeceuticals market by application is segmented into skin care, hair care, injectables, and others. The skin care segment accounted for the highest demand in 2022. The haircare segment is a rapidly growing application segment across all regions and is expected to achieve colossal market growth. The skin care segment growth is highly driven by the women population, which spends highly on skincare solutions. Compared to men, the women population followed a daily skin routine. In developed markets, women use more than five cosmetic and personal care solutions. In addition, women are spending on skincare cosmeceuticals. Sunscreen is one of the cosmeceutical products used by almost 50% of women worldwide. Currently, the majority of potential consumers are shifting towards natural ingredient-based products; vendors have the opportunity to offer natural cosmeceutical products.

Segmentation by Application

• Skin Care
• Hair Care
• Injectables
• Others

INSIGHTS BY DISTRIBUTION CHANNELS

The drug store/ pharmacies distribution channel segment is the leading segment in the global cosmeceuticals market, accounting for over 40% in 2022. Cosmeutical products are developed with biologically active ingredients that deliver medicinal effects for hair, skin, and other cosmetic issues. Cosmeceuticals contain the same ingredients as drugstores. This major factor accelerates the demand for cosmeceuticals from pharmacies and other drug stores. The increasing aging population and a significant patient population visit dermatologists where the prescriptions generated for cosmeceuticals accelerate the segmental growth. Conversely, the e-commerce distribution channel is a rapidly growing segment during the forecast period.

Segmentation by Distribution Channels

• Drug Stores/Pharmacies
• Mass Merchandisers
• Online
• Others

INSIGHTS BY AGE GROUP

The global cosmeceuticals market by age group is segmented into middle-aged, pediatric & young adults, and older adults. The middle-aged adults segment accounted for the highest share in the global industry. The middle-aged population worldwide suffers from skin and hair issues due to the higher burden of work, physical activities, higher time spent on digital screens, and reduced collagen production. These factors negatively impact skin and hair health, personal life, and confidence. This is one of the major concerns among people, resulting in increasing demand for cosmeceutical solutions. Moreover, the middle-aged population is highly conscious about skin and hair appearance and spends more on personal care solutions. It is one of the leading factors that accelerates the segmental growth.

Segmentation by Age Group

• Middle-aged
• Pediatric & Young Adults
• Older Adults

GEOGRAPHICAL ANALYSIS

APAC is one of the leading geographies for the cosmeceuticals market, with beauty influencers, rising expenditure on personal care, social media, and fashion trends. In 2022, APAC accounted for over 41% market share in the global cosmeceuticals market and dominated the other regions during the forecast period. APAC is the most rapidly growing and opportunity-delivering market landscape for cosmeceuticals. The constantly evolving cosmetic and beauty trends and constant innovation and products launched by minor and major industry players propel the high industry growth in the region. Skincare is the most demanding factor across the region. In addition, haircare is set to be a new trend in the regional industry. Furthermore, online haircare searches witness an increment in 2022.

Segmentation by Geography

• APAC
• China
• Japan
• India
• South Korea
• Australia
• North America
• The U.S.
• Canada
• Europe
• Germany
• France
• Italy
• The U.K.
• Spain
• Poland
• Latin America
• Brazil
• Mexico
• Argentina
• Columbia
• Middle East & Africa
• Turkey
• South Africa
• Saudi Arabia
• UAE

VENDOR LANDSCAPE

The global cosmeceuticals market is highly competitive due to the presence of domestic, national, regional, and international industry players. The cosmeceuticals industry is part of the cosmetic industry. Several cosmetic, personal care, and beauty product manufacturing companies are in the global market, challenging the growth of cosmeceuticals. Cosmetic and beauty products give instant results; conversely, cosmeceutical products take time to heal and result in delivery. L'Oréal Group is one of the leading players in the global cosmeceuticals market. The company increasing competitiveness across the industry by offering higher-quality products. Also, with the increasing competition across the industry, the company shifted towards using natural ingredients that reduced the side effects and delivered higher results.

Key Company Profiles

• Estée Lauder Companies
• Kao Corporation
• L'oréal Group
• Procter & Gamble
• Unilever

Other Prominent Vendors

• Amka Products
• Avon
• Anveya
• Amorepacific Corporation
• AWAKE ORGANICS
• Beiersdorf AG
• Bajaj Consumer Care
• CREYAN SKIN SYSTEM
• Coty
• Clinically
• Croda International
• Henkel AG & Co. KGaA
• Formel Skin
• GIOVANNI COSMETICS
• Galderma
• Glossier
• Guerlain
• GROUP MARCELLE COSMETICS
• Group Clarins
• GRUPO BOTICÁRIO
• Kaya
• Johnson & Johnson
• Jstor House of Cosmetics
• LVMH
• Lass Naturals
• LG H&H
• LOTUS HERBALS
• Miracle 10 Cosmetics
• Merz Pharma
• Medytox
• Make-up Art Cosmetics
• Marico Limited
• Mamaearth
• Membox
• Natura & Co
• Olaplex
• PURA D’OR
• Pink Root
• Redken
• Revlon
• Sinclair
• Suneva Medical
• Salvia Cosmeceuticals
• Shiseido Company
• SkinCeuticals
• RAMICOS COSMETICS
• TONYMOLY
• Wella Operations US LLC

KEY QUESTIONS ANSWERED:

1. How big is the global cosmeceuticals market?

2. What is the projected growth rate of the global cosmeceuticals market?

3. What are the rising trends in the cosmeceuticals industry?

4. Which region holds the most significant global cosmeceuticals market share?

5. Who are the key players in the global cosmeceuticals market?