Global Anti Acne Cosmetics Market 2023-2030

Global Anti Acne Cosmetics Market 2023-2030

Global anti-acne cosmetics market is estimated to grow at a CAGR of 8.0% during the forecast period. The major factors contributing to the growth of the market include the growth in the cosmetics industry and increasing preference towards organic and natural skincare products. There is an increasing demand for cosmetic products owing to the rising disposable income and increasing consumer awareness regarding major cosmetic brands. As per the International Trade Administration (ITA), South Korea is the 8th largest cosmetics market across the globe, which represents approximately 3.0% of the global market. In 2017, the South Korean cosmetics market stood at nearly $8.8 billion, and the total exports and total local production increased by nearly 18.3% and 3.6%, respectively from 2016.

Online distribution channels are becoming popular among South Korean consumers to buy cosmetic products. The country has a considerable smartphone ownership rate/ broadband penetration rate and the fastest average internet speed. Sales through mobile shopping have increased considerably in the recent period. As per the Korean National Statistical Office, online shopping market transactions increased 19.2% year-on-year to $68 million in 2017. Among these, mobile shopping transactions valued at $42 billion, increased 35% from 2016, accounting for 61% of total online shopping.

Anti-acne creams and cleansers have been gaining significance in the cosmetics segment which aims to prevent and treat acne scarring. As per the University Of California, Berkeley, acne primarily affects teens; over 85% experience at least a mild form of such condition. It normally occurs on the face, shoulders, neck, chest, and back. This encourages the demand for anti-acne treatment and thereby leads to the adoption of anti-acne creams, lotions, and toners.

Segmental Outlook

The global anti-acne cosmetics market is segmented based on the product, end-use, and distribution channel. Based on product, the market is segmented into creams and lotions, cleansers and toners, masks, and others. Based on end-use, the market is classified into women and men. Based on the distribution channel, the market is classified into online and offline.

The online distribution channel is expected to witness significant growth during the forecast period

The increasing trend towards e-commerce and smartphone penetration is primarily contributing to the rising demand for online shopping for cosmetics and skincare products. Online sales have a range of benefits, including significant information on the product and customer reviews, which is primarily essential for skincare, makeup, and hair color products. Freed from space limitations, e-commerce websites can also sell multiple products. As a result, the providers of cosmetic products are partnering with e-commerce sites to leverage their sales through online platforms. For instance, L’Oréal partnered with Boutiquaat, an e-commerce site in the Middle East that hosts over 200 beauty influencers. The shift of major cosmetic companies towards online platforms offers an opportunity for customers to easily buy branded cosmetic products using their devices. This, in turn, will likely drive the sales of anti-acne cosmetics products through online distribution channels.

Regional Outlooks

The global anti-acne cosmetics market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa and Latin America). The market can be analyzed for a particular region or country level as per the requirement. North America has witnessed potential growth owing to the large number of people with acne in the region. In addition, an increasingly aging population is further strengthening the demand for anti-acne cosmetic products in the region. This, in turn, contributes to the increasing share of the personal care segment in the region.

Asia-Pacific is estimated to witness optimal growth during the forecast period

Asia-Pacific accounted for the largest share of the market in 2018 owing to a significant rise in the personal care industry in the region. For instance, according to International Brand Equity Foundation (IBEF), in Fast-moving consumer goods (FMCG), India’s household and personal care is the leading segment, accounting for 50% of the overall market, healthcare (31%), and food and beverages (19%) in terms of market share. The market size of personal care was $3 billion in 2000 and reached $ 12.6 billion in 2018. In India, the share of Hindustan Unilever Ltd. (HUL) in the FMCG market (personal care) was 37.4% in 2018. Significant availability of younger and aging populations and rising disposable income are some major factors encouraging market growth in the region.

Market Players Outlook

The major players in the market include Johnson & Johnson Services, Inc., L’Oréal SA, Unilever PLC, Beiersdorf AG, and KOSÉ Corp. Product launches and geographical expansion are considered as some key strategies adopted by the market players to increase market share and gain a competitive advantage. For instance, in August 2019, Beiersdorf AG acquired Coppertone, a provider of sun protection products. With the acquisition of the Coppertone brand, the company will further expand its major position in the global sun care business. Both companies will continue the development of a strong, iconic brand and accelerate the growth potential of its global sun care business.