Cosmeceutical Market, By Product Type (Skin Care (Anti-ageing, Anti-acne, Sun Protection, Moisturizers, and Other Skin Care Product Types), Hair Care (Shampoos and Conditioners, Hair Colorants and Dyes, and Other Hair Care Product Types), Lip Care, Oral Care, and Injectable), By Active Ingredient Type (Antioxidants, Botanicals, Peptides and Proteins, Exfoliants, Retinoids, and Other Active Ingredient Types), and By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030
Cosmeceuticals represent a new category of products placed between pharmaceuticals & cosmetics that are intended for the enhancement of the health and beauty of skin. Cosmeceuticals have both cosmetic and therapeutic effects, and are intended to have a beneficial effect on skin health.
Market Dynamics:
Rise in prevalence of skin and hair disorders, rise in aging (geriatric) population, rise in demand for skin care, hair care, and oral care products, increasing demand for cosmeceuticals, and increase in awareness among propel are major factors expected to propel growth of the global cosmeceutical market during the forecast period.
For instance, in January 2023, Oriflame expanded its skincare offering in the Indian market and launched first range of ‘cosmeceutical’ products named ‘NovAge Proceuticals’. The cosmetics and beauty business’ new line is designed to address customers’ specific skin challenges. This in turn is expected to propel the growth of the cosmeceutical market.
Key features of the study:
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