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Cosmeceuticals Market size is estimated to reach $51.6 billion by 2027 - IndustryARC

Cosmeceuticals Market

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Cosmeceuticals Market size is estimated to reach $51.6 billion by 2027, growing at a CAGR of 8.6% during the forecast period 2022-2027.

HYDERABAD, TELANAGANA, INDIA, September 22, 2022 / -- Cosmeceuticals Market size is estimated to reach $51.6 billion by 2027, growing at a CAGR of 8.6% during the forecast period 2022-2027. Cosmeceutical is a term coined by the cosmetic industry to demarcate products that are a blend of cosmetics and pharmaceuticals and are proficient in extending beauty and skincare benefits as they are laden with bioactive ingredients such as glycosaminoglycans. Cosmeceuticals have several applications such as protection against harmful UV-rays, reducing dark complexion, helping pigmentation hitches, anti-aging, and many more. They generally come in lotion and cream forms. Moreover, the heavy presence of antioxidants in these products makes them of utmost significance in foiling the oxidative mutilation perpetrated by the free radical attack. Cosmeceuticals help in treating impaired skin cells by promoting healthy cellular proliferation and extending synergistic effects. Hyaluronic acid is one of the most widely recognized anti-aging cosmeceuticals. In order to meet certain criteria or industry standards, quality control is practiced staggeringly during the production of cosmeceuticals.

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Key takeaways:

This IndustryARC report on the Cosmeceuticals market highlights the following areas -

1. Geographically, the North America Cosmeceuticals Market accounted for the highest revenue share in 2021. The growth is owing to look sensitiveness, the higher influence of widespread Hollywood industry, and higher living standards. Furthermore, Asia-Pacific is poised to dominate the market over the period 2022-2027.

2. The emergence of technologies like nanotechnology and stem cell technology, rising urban population, spectacular marketing strategies are undertaken by players in the market are said to be preeminent drivers driving the growth of the Cosmeceuticals Market. Side-effects associated with artificial cosmeceuticals and crippled demand because of the pandemic are said to reduce the market growth.

3. Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Cosmeceuticals Market report.

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Segmental Analysis:

1. Cosmeceuticals Market based on the distribution channel type can be further segmented into offline (salons, supermarkets, retail pharmacies, and others) and online. The offline segment held the largest share in 2021. The growth is owing to enough presence of salons, pharmacies, and other facilities that facilitates easy buying.

2. Cosmeceuticals Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 39% of the overall market in 2021. The growth in this segment is owing to the factors such as the high influence of the Hollywood industry, high disposable incomes, better lifestyles, and high awareness among citizens toward cosmeceuticals.

3. Cosmeceuticals Market based on the application can be further segmented into hair care, oral hygiene, skincare (whitening, anti-wrinkles, sun care, and others), and others. The skincare segment held the largest share in 2021. The growth is owing to proliferating skin problems such as acne, pus-filled bumps, dry skin, pores, dark spots, abnormal pigmentation, peeling skin, and many others.

Competitive landscape:

The top 5 players in the Cosmeceuticals industry are:

1. Avon
2. Croda International
4. Loreal
5. Allergan

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Related Reports:

A. Anti-Ageing Ingredients Market

B. Hyaluronic Acid Products Market

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