USD 60.40 billion
Cosmeceutical Market Size, Share, Growth Analysis, By Product(Skin Care, Hair Care), By Distribution Channel(Supermarkets & Specialty Stores, and Online Platform) - Industry Forecast 2024-2031
Report ID:
SQMIG30L2157 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|
Tables:
62 |
Figures:
75
Cosmeceutical Market Insights
Global Cosmeceutical Market size was valued at USD 60.40 billion in 2022 and is poised to grow from USD 63.48 billion in 2023 to USD 94.51 billion by 2031, growing at a CAGR of 5.10% during the forecast period (2024-2031).
The global cosmeceutical market is expected to grow due to customers' growing concern about their physical appearance. The rise of cosmetic products changed the beauty and personal care industry. Unlike makeup, these solutions can address the source of the defects rather than simply covering them up. This quality has resulted in a significant growth in product demand and expanded its market share in the personal care and cosmetics sectors.
The rise in awareness about the harmful side effects of the synthetic ingredients in these cosmetic items has resulted in a significant increase in the demand for organic and natural commodities. Manufacturers have been observed taking advantage of this trend. Companies including Only Naturals of England and LoveLula in the United Kingdom, for example, generate the majority of their earnings from natural skincare products. Furthermore, because most Asian and American women have sensitive skin, they are looking for cosmetic items that have anti-inflammatory, antiseptic, anti-bacterial, and moisturizing effects.
Furthermore, it is discovered there is a strong demand among persons aged 30-45 over the last few decades, the declining mortality rate has resulted in an aging population all across the globe. People living longer lives and seeking to maintain their young appearance are driving global market growth. Anti-aging solutions to prevent damage to hair, premature aging, inconsistent skin tone, dry skin, and wrinkles are in high demand. As a result, chances for new launches and breakthroughs in the cosmetic business have arisen, prompting producers to focus on proactive anti-aging-based skincare treatments.
Furthermore, women are constantly juggling sedentary and stressful job schedules, leaving little time for everyday make-up application. This has driven them to purchase cosmetic items with medical properties in order to avoid wearing make-up. Furthermore, customers all over the globe are aware of the benefits of antioxidants, organic components, and peptides in skin care products. As a result of increased health and beauty awareness among wealthy and intelligent consumers, market growth has increased. However, the rise of counterfeit and low-cost cosmetics may stymie this expansion. These items endanger reputable original brands, as they lose market share to subpar and low-quality products. This is primarily found in underdeveloped countries.
US Cosmeceutical Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Skin Care
Fastest Growth
Skin Care
Growth Rate
5.10% CAGR
Global Cosmeceutical Market 2021-2030 ($ Bn)
Country Share for Europe Region- 2021 (%)
Global Cosmeceutical Market By Product 2021-2030 ($ Bn)
Global Cosmeceutical Market By Product 2021-2030 (%)
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Cosmeceutical Market Segmental Analysis
The global cosmeceutical market is segmented on the basis of product, distribution channel, and region. Based on product, the market is segmented into skin care, hair care, and oral care. Based on distribution channels the market is segmented into supermarkets & specialty stores, and online platforms. Regionwise, the global cosmeceutical market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Cosmeceutical Market Analysis by Product
The cosmeceutical market is divided into three product types namely, skincare, haircare, and oral care. The skincare category led the market, accounting for 43.3% of the total share. Exposure to damaging UV light can result in premature skin aging or even skin cancer. This understanding has enhanced the consumer's emphasis on skin protection through the use of preventive skincare products. Furthermore, throughout the forecast period, demand for multifunctional goods is expected to drive the expansion of sun-care cosmetic products. BB creams, for example, can be used as a sunblock cream in addition to a make-up serum and moisturizer. Because of their convenience, products like these are becoming increasingly popular, propelling the skincare sector in this area.
The hair care segment is predicted to develop at the fastest pace in the future due to an increase in demand for items such as hair oil, hair color, shampoo, and conditioner. Shampoos are a common daily use product due to their benefits such as the removal of dandruff, grime, and environmental toxins. Furthermore, the removal of undesirable build-up without flaking off so much sebum that the hair becomes unmanageable pushes consumers to purchase branded hair care products.
Cosmeceutical Market Analysis by Distribution Channel
The distribution channel category is inclusive of supermarkets, specialty stores, and internet platforms. The segment of supermarkets and specialty retailers has the biggest market share. This is due to strong advertising and other marketing methods used by distributors and manufacturers at specialty stores, such as bulk buy discounts. Increasing disposable wealth in Asia Pacific developing countries is causing consumers to choose bulk shopping at supermarkets.
Global Cosmeceutical Market By Product 2021 (%), 2023 (%)
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Cosmeceutical Market Regional Insights
Europe dominated the highest share, accounting for 32.2% in 2022 and is further anticipated to continue so during the forecast period as well. This is due to the population's desire to appear younger in nations such as Germany, the United Kingdom, the Netherlands, and France. Furthermore, given their weather circumstances, these countries have the highest population of persons suffering from dry skin. This will very certainly increase demand for helpful and multifunction skin care cosmetic products. Furthermore, increased spending power in the region for higher-quality products is likely to boost market growth.
Asia Pacific is expected to grow the fastest among the other areas. The market is gaining traction as a result of the rapidly increasing developing economies in this region. This effectively paved the way for manufacturers to establish operations in the densely populated countries in the region. The development in popularity of e-commerce or e-tailing in the area has given people access to higher-quality brands of these items. Furthermore, improving living standards in countries such as China, India, and Russia are expected to boost the growth of the beauty and cosmetic products sector in this region.
Global Cosmeceutical Market By Geography, 2021-2030, 2024-2031
- Largest
- Fastest
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Cosmeceutical Market Dynamics
Cosmeceutical Market Drivers
Growing Demand for Anti-aging and Skin Rejuvenation Products
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The global aging population is driving demand for cosmeceuticals that can help reduce the appearance of aging, such as wrinkles and fine lines. Additionally, there is increasing interest in cosmeceutical products that can promote skin rejuvenation and improve overall skin health.
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Advances in skincare technology and formulation, incorporating bioactive ingredients and cutting-edge delivery systems, drive innovation in the cosmeceutical sector. Additionally, the rising prevalence of skin-related concerns and a growing aging population globally contribute to the sustained demand for cosmeceutical products.
Cosmeceutical Market Restraints
High Product Development Costs
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Developing and testing new cosmeceutical products can be expensive and time-consuming, which can limit innovation in the market.
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Consumer skepticism about the efficacy of certain cosmeceutical ingredients and products, coupled with potential side effects, can impede widespread adoption. The market is also sensitive to economic fluctuations, as consumer spending on premium skincare products may decline during economic downturns.
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Cosmeceutical Market Competitive Landscape
Manufacturers in the industry are progressively focusing on packaging because it is critical in preserving product quality, color, texture, therapeutic effects, and shelf life. They are concentrating on expanding their geographical reach through acquisitions and mergers with other companies, with the goal of boosting their market share and lowering their operational costs. The rivals primarily compete on the basis of product quality, technological advancements, pricing, volume, and capacity.
Top Player’s Company Profiles in Cosmeceutical Market
- Estée Lauder
- Johnson & Johnson
- Shiseido
- Beiersdorf AG
- Avon Products
- Clarins Group
- Revlon
- Amway
- Mary Kay
- Kao Corporation
- Coty Inc.
- Oriflame Cosmetics
- Chanel
- Henkel AG & Co. KGaA
- Colgate-Palmolive Company
- Elizabeth Arden
- Natura & Co.
Cosmeceutical Market Recent Developments
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In April 2023, Givaudan successfully acquired numerous cosmetic ingredients from Amyris, the renowned producer of squalane derived from sugarcane. The agreement ensures that Amyris will maintain its role in producing sustainable beauty ingredients for Givaudan. Simultaneously, Caliray, a sustainable beauty brand, has secured funding through a Series A round.
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In April 2021, L'Oreal announced that it would acquire the Japanese skincare company Takami Co., Ltd. This acquisition will expand L'Oreal's presence in the high-growth Japanese market.
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In March 2021, The Estée Lauder Companies announced that it had completed the acquisition of Deciem, the parent company of the popular skincare brand The Ordinary.
Cosmeceutical Key Market Trends
- Clean and natural beauty: Consumers are increasingly interested in clean and natural beauty products, and this trend is also extending to the cosmeceutical market. Products that are free from harmful chemicals and contain natural, plant-based ingredients are becoming more popular.
- Personalization: There is growing interest in personalized skincare products and regimens, and this trend is also impacting the cosmeceutical market. Companies are developing products that are tailored to individual skin concerns and needs.
- Sustainability: Consumers are becoming more aware of the impact of their purchasing decisions on the environment, and this is driving demand for sustainable and eco-friendly cosmeceutical products.
- E-commerce: Online sales are becoming increasingly important for the cosmeceutical industry, as more consumers choose to shop online for convenience and ease of access.
- CBD-infused products: Cannabidiol (CBD) is being incorporated into cosmeceutical products for its potential anti-inflammatory and antioxidant properties.
- Non-invasive alternatives to cosmetic procedures: Consumers are increasingly seeking non-invasive alternatives to traditional cosmetic procedures, such as Botox and fillers. Cosmeceutical products that offer similar benefits are becoming more popular.
Cosmeceutical Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our cosmeceutical market analysis, we found that this is expected to grow due to customers' growing concern about their physical appearance. The rise of cosmetics changed the beauty and personal care industry. Unlike makeup, these solutions can address the source of the defects rather than simply covering them up. This quality has resulted in a significant growth in product demand and expanded its market share in the personal care and cosmetics sectors. Consumers are increasingly interested in clean and natural beauty products, and this trend is also extending to the cosmeceutical market. Products that are free from harmful chemicals and contain natural, plant-based ingredients are becoming more popular.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 60.40 billion |
| Market size value in 2031 | USD 94.51 billion |
| Growth Rate | 5.10% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cosmeceutical Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cosmeceutical Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cosmeceutical Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cosmeceutical Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cosmeceutical Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cosmeceutical Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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