Overview and Scope
Cosmeceuticals refers to cosmetic products that contain active ingredients with potential therapeutic properties, beyond basic cosmetic benefits. Cosmeceuticals are designed to improve the appearance and health of the skin, hair, and overall aesthetics.
Sizing and Forecast
The cosmeceuticals market size has grown strongly in recent years. It will grow from $56.91 billion in 2023 to $61.36 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to aging population, scientific research, increasing disposable income, health and wellness trends, regulatory changes.
The cosmeceuticals market size is expected to see strong growth in the next few years. It will grow to $84.2 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to rise of non-invasive beauty treatments, men’s grooming and skincare, digitalization in skincare, rise in personalized skincare, clean beauty movement. Major trends in the forecast period include cannabis-derived ingredients, transparency and traceability, rise of nutricosmetics, hybrid skincare-beauty products, microbiome-friendly products.
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Segmentation & Regional Insights
The cosmeceuticals market covered in this report is segmented –
1) By Product Type: Skincare, Haircare, Injectable, Oral Care, Other Product Types
2) By Ingredients: Proteins, Antioxidants, Vitamins, Metals, Ceramides, Peptides, Amines, Acids, Exfoliants, Other Ingredients
3) By Distribution Channel: Supermarket, Pharmacy, Drug Stores, Beauty Salon, Online Retailing Store, Other Distribution Channels
Asia-Pacific was the largest region in the cosmeceuticals market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cosmeceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in the prevalence of skin disorders is expected to propel the growth of the cosmeceuticals market going forward. Skin disorders refer to the conditions that affect the skin’s appearance, structure, texture, or overall health. Cosmeceuticals are skincare products with bioactive ingredients that offer therapeutic benefits and can be used to complement the treatment of various skin disorders such as photo-melanosis, photo-tanning, and pigmentation disorders such as melasma or freckles. For instance, in January 2023, according to a report published by the American Cancer Society, a US-based voluntary health organization for cancer, melanoma constitutes only about 1% of skin cancers but causes most skin cancer deaths. In 2023, approximately 97,610 new melanomas will be diagnosed (58,120 in men and 39,490 in women), and approximately 7,990 people are expected to die of melanoma. Furthermore, in December 2022, according to the National Psoriasis Foundation, a US-based non-profit organization serving people with psoriasis and psoriatic arthritis, Psoriasis affects 125 million people globally, accounting for 2 to 3 percent of the overall population. Therefore, the increase in the prevalence of skin disorders is expected to propel the growth of the cosmeceuticals market.
Key Industry Players
Major companies operating in the cosmeceuticals market report are BASF SE, Johnson & Johnson, LVMH (Moët Hennessy Louis Vuitton), Givenchy, The Procter & Gamble Company, Unilever Plc, L’Oréal S.A., Henkel AG & Co. KGaA, The Estée Lauder Companies Inc., Chanel LTD, Allergan plc, Beiersdorf AG, Shiseido Company Limited, Natura &Co S.A, Coty Inc., Amorepacific Corporation, Avon Products Inc., Clarins, Revlon Inc., Croda International plc, Elementis plc, Lady Burd, Sabinsa Corporation, Nardo’s Naturals, SBLC Cosmetics GmbH, Mineral Mine
The cosmeceuticals market report table of contents includes:
1. Executive Summary
2. Cosmeceuticals Market Characteristics
3. Cosmeceuticals Market Trends And Strategies
4. Cosmeceuticals Market – Macro Economic Scenario
5. Global Cosmeceuticals Market Size and Growth
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32. Global Cosmeceuticals Market Competitive Benchmarking
33. Global Cosmeceuticals Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cosmeceuticals Market
35. Cosmeceuticals Market Future Outlook and Potential Analysis
36. Appendix
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