USD 3.37 billion
Report ID:
SQMIG30L2141 |
Region:
Global |
Published Date: February, 2024
Pages:
278
|Tables:
106
|Figures:
76
Global Functional Cosmetic Market size was valued at USD 3.37 billion in 2023 and is poised to grow from USD 3.55 billion in 2024 to USD 5.32 billion by 2032, growing at a CAGR of 5.2% during the forecast period (2025-2032).
Functional cosmetics are becoming popular since they Primarily focus on the prevention of skin problem. This market has deep roots in Asia, the market for ingestible beauty products as proliferated around the world with dietary supplements, fortified foods and nutritional beverages that target. Demand for multifunctional ingredients, accelerating demand for anti aging, skin whitening and sun protection are the factors which have positive impact on market. Protection from harmful sun rays, wrinkles, blemishes, acnes, aging, front lines and others are provided by functional cosmetics used in skin care applications.
US Functional Cosmetic Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
USD 3.37 billion
Largest Segment
Skin care
Fastest Growth
Skin care
Growth Rate
5.2% CAGR
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Global Functional Cosmetic Market is segmented by Function, Product Type, Target Consumer's, Ingredient Type, Price Range, Application and region. Based on Function, the market is segmented into UV Filters, Anti-aging, Skin brightening, Moisturizing, Exfoliation and Sun protection. Based on Product Type, the market is segmented into Creams and lotions, Serums, Masks, Cleansers and Toners. Based on Target Consumer's, the market is segmented into Women, Men, Teenagers, People with sensitive skin and People with specific skin concerns. Based on Ingredient Type, the market is segmented into Natural ingredients, Synthetic ingredients, Organic ingredients, Vegan ingredients and Cruelty-free ingredients. Based on Price Range, the market is segmented into Mass market, Premium and Luxury. Based on Application, the market is segmented into Skin Care, Body care, Face care, Sun Care, Hair Care, Shampoos and Dyes. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
By application, the global market is divided into many segments such as Skin care and hair care. Functional ingredients provide the primary benefit to consumers who use the product. These are the ingredients that clean the skin, condition hair, and provide moisturization or even color. Hey Cortana pension sector, skin whitening, improvement of skin wrinkles and anti aging that shows the high efficacy of functional cosmetics.
By end user, the market is segmented into male, female and unisex. Among all the segments, meal is anticipated to witness the highest growth in the global functional cosmetic market over the forecasted.In recent past years, the skin of male has been totally ignored. Therefore, companies and manufacturers see the greater market in future years.Awareness about the looks and overall Wellness has anticipated the growth of male segment in functional cosmetics.
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Globally, Europe is estimated to hold the highest global Functional cosmetics market share in 2021. Raising awareness about the skin and the major use of functional cosmetics led to the growth of the market. Along with this inclination towards natural and organic personal care and easily biodegradable products is another factor that led to the increase of functional cosmetic products in Europe.
Above all, Asia Pacific is expected to grow fastest during the forecast period.Adoption of traditional skin care method has led to the growth of functional cosmetics in Asia Pacific region. An advanced products are produced and manufactured by Korean and Japanese skin care routines, which are adopted by cosmetic companies along with its presence of various leading cosmetic manufacturing companies.In the region is estimated the boost the market.
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Increasing Popularity Multifunctional Ingredients to Bring Lucrative Growth Opportunities
Expensive Organic Products to Hinder Market Expansion
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Competition in the global Functional cosmetics market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of products compatible with Functional cosmetics will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years.
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 3.37 billion |
Market size value in 2032 | USD 5.32 billion |
Growth Rate | 5.2% |
Base year | 2024 |
Forecast period | 2025-2032 |
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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Functional Cosmetic 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 Functional Cosmetic 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 Functional Cosmetic Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Functional Cosmetic 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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