Cosmeceuticals Market is expected to register a CAGR of 9.38% to reach a value of USD 80.36 billion by 2023| Top Vendors - PROCTER & GAMBLE, JOHNSON & JOHNSON, L'OREAL, AVON, ALLERGAN, amongst others

Market Analysis:

By 2050, the world population expects to reach 10.5 billion. The life expectancy for women is predicted to rise from 82.8 years in 2005 to 86.3 years by 2050. Notably, the share of people from this age group using cosmetic products is on the rise. People are living longer, and a strong desire among men and women to retain youthful appearances has groomed and nurtured the cosmetic industry worldwide.

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Rapidly aging demographics has led to robust demand for anti-aging products to prevent wrinkles, age spots, dry skin, uneven skin tone and even hair damages. This increase in demand has created room for innovations in cosmetics, thus boosting the industry growth. Product manufacturers are focusing on active aging based skin cosmetic products, for appealing to a larger section of the population looking to increase their lifespan. Moreover, women are increasingly coping with hectic working lifestyles and have less time to spend on putting on makeup. This has prompted cosmetic vendors to change their product design to facilitate easy access and disposal. Consumers are increasingly getting aware of the use of organic ingredients, antioxidants, peptides in skin, and hair care products, and increased product developments in these segments are driving the market growth. Natural and Organic is the driving market ingredient for the forecast period.

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Market Segments:
Cosmeceuticals Market is segmented by:
1. Product Type: Skin Care, Hair Care, Injectable, Oral Care
2. Active Ingredients Type: Antioxidants, Botanicals, Peptides and Proteins, Exfoliants, Retinoids
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
February 2017 - The Procter & Gamble Company, incorporated in Ohio in 1905, is segmented into five divisions, which include Beauty, Hair and Personal Care, Grooming, Health Care, Fabric Care and Home Care, and Baby, Feminine and Family Care.
October 2016 - Avon and Cerberus announced a USD 605 million strategic partnership to drive Avon shareholder value and also the Avon Products, Inc. announced that it had divested Liz Earle, its wholly-owned, UK-based natural skincare brand.

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