Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Cosmeceutical market.
Trusted Business Insights presents an updated and comprehensive analysis of Cosmeceutical Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Cosmeceutical market during the forecast period (2021-2026).Our research analyst have analysed at the short-term stress in the industries subsectors as well as long-term impacts. Analyst have also examined the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Global Cosmeceutical Market
The global Cosmeceutical market size is projected to reach US$ 97.91 billion by 2026, from US$ 58.7 billion in 2020, at a CAGR of 8.9% during 2021-2026. The market is anticipated to expand owing to rising consciousness of the consumers about their physical appearance. The onset of cosmeceuticals has reformed the cosmetic and personal care industry. These products, unlike the makeup products have the ability to resolve the origin of the imperfections rather than just covering them. This quality has resulted into a tremendous rise in the product demand and has increased its share in the cosmetic and personal care industry.
There has been a remarkable rise in the demand for organic and natural commodities due to awareness regarding harmful side effects of the synthetic elements in these cosmetic products. Manufacturers are seen taking advantage of this trend. For instance, companies such as Onlynaturals in England and LoveLula in U.K. earn most of their revenue from the natural skin care cosmetic products. In addition, with increasing consciousness of skin-care beauty products owing to sensitive skin of most of the Asian and American women, they are looking for cosmetic products that provide anti-inflammatory, anti-septic, anti-bacterial, and moisturizing properties.
Furthermore, it has been observed that the demand is high among the people of age group 30-45. Over the past decades, decreasing mortality rate has given rise to the aging population all over the globe. People living longer and wanting to retain their youthful appearance is positively affecting the market growth globally. Demand for anti-aging products in order to prevent hair damage, age spots, uneven skin tone, dry skin, and wrinkles is on the rise. This, in turn, has created opportunities for new introductions and innovations in the cosmetic industry, thus making the manufacturers focus on active anti-aging based skin products.
Moreover, women are continuously coping with sedentary and hectic working lifestyles, hence get very less time to put on make-up daily. This has compelled them to buy cosmetic products with medicinal benefits in order to avoid using make-up. Moreover, consumers all over the world are aware of the perks of anti-oxidants, organic ingredients, and peptides in skin. Hence, increasing beauty and health consciousness among wealthy and knowledgeable consumers had led to an increase in the market growth. However, emergence of counterfeit and cheap cosmetics may hinder this growth. These products are hazardous to the reputed original brands since they lose their share in the market to the substandard and low quality products. This trend is mostly seen in the developing countries.
Market Segmentation, Outlook & Viewpoint: Global Cosmeceutical Market
Product Type Market Segmentation & Outlook (Revenue, USD Billion, 2014 – 2025)
- Skin Care
- Hair Care
- Oral Care
Distribution Channel Market Segmentation & Outlook (Revenue, USD Billion, 2014 – 2025)
- Supermarkets & Specialty Stores
- Online Platform
Key Players, Recent Developments & Regional Insights: Global Cosmeceutical Market
The product type segment of the cosmeceutical market is classified as skin care, hair care, and oral care. The skin care category dominated the market with a share of 43.3% in 2018. Exposure to harmful ultraviolet radiations can cause premature skin-aging or can even result in skin cancer. This awareness has increased consumers focus on protecting their skin by using preventive skincare products. Moreover, demand for multifunctional product is expected to fuel the growth of sun-care cosmetic products in the forecast period. For instance, BB creams can also function as sunblock cream, apart from a make-up serum and moisturizer. Products like these are becoming widely popular owing to their convenience, thereby driving the skincare category in this segment.
Hair care is expected to witness considerable growth in future owing to an increase in the demand for products such as hair oil, hair color, shampoo, and conditioner. Benefits provided by shampoos such as removal of dandruff, dirt, and environmental pollutants are making it a popular daily use product. In addition, eradication of the unwanted build-up without flaking out much sebum in order to make the hair unmanageable drives the consumers to buy branded hair care products.
Distribution Channel Insights
This segment comprises of supermarkets and specialty stores, and online platform. The supermarkets and specialty stores segment held the largest market share in 2018. This is attributed to the aggressive promotions and various marketing strategies of the distributors and manufacturers in the specialty stores, such as offers on bulk purchase. Increasing disposable income in the developing countries of Asia Pacific is resulting in the consumers preference for bulk purchases at the supermarkets.
The online distribution channel is anticipated to witness significant growth over the forecast period owing to technology advancements and rising adoption of the technology among consumers. Apart from the key players of the market, the popular e-commerce platforms such as Amazon.in are encouraged to gain traction by selling these cosmetic products in certain areas having comparatively less specialty stores. This indirectly is increasing the sales of the products through online platform. Moreover, discounts that are available online are comparatively more than that in the stores, thereby attracting the consumers and increasing the product sales.
Europe held the largest share of 32.2% in 2018. The region continues to be the leading market owing to the obligation towards looking younger among the population of countries such as Germany, U.K., Netherlands, and France. Moreover, these countries have the largest population of people suffering from dry skin, considering their weather conditions. This is likely to spur the demand for beneficial and multifunctional skin care cosmetic products. Moreover, higher spending capacity in the region for better quality products is expected positively impact the market growth.
Asia Pacific is expected to witness the highest growth among other regions. The market in this region is gaining traction due to widely expanding developing economies. This has successfully paved the way for the manufacturers to open their branches in the highly populated countries in this region. Popularity of e-commerce or e-tailing in the region has helped the people reach out to better quality brands of these products. In addition, improving living standards in the countries such as India, China, and Russia are predicted to drive the market in this region.
Cosmeceutical Market Share Insights
Manufactures in the market are increasingly focusing on the packaging as it plays a vital role in retaining the product quality, color, texture, medicinal benefits, and shelf life. They are focusing on expansion of their geographical reach by engaging in mergers and acquisitions with other companies, carrying the objective of increasing their market share and cutting down their operational cost. The competitors mainly compete based on product quality, technological innovations, price, volume, and capacity.
Many manufacturers are engaging in collaboration with the medical community to increase the awareness among their targeted customers, thereby making it a step towards eradicating the counterfeit products worldwide. For instance, in February 2017, the Procter & Gamble Company divested the Hipoglos Brand to Johnson & Johnson Consumer Inc.
Key Insights Covered: Global Cosmeceutical Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Cosmeceutical industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Cosmeceutical industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Cosmeceutical industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Cosmeceutical industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Cosmeceutical industry.
Research Methodology: Global Cosmeceutical Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
Quick Read Table of Contents of this Report @ Cosmeceutical Market Size & Share, Global Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)
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