Probiotic Cosmetic Products Market to be moderately Impacted in Short Term Owing to COVID-19, Fact,MR Report

The global probiotic cosmetic products market is expected to rise exponentially at 12% CAGR during the projection period between 2020 and 2030. As per the Fact.MR report, the coronavirus outbreak has resulted in the temporary closure of brick and mortar cosmetics stores. In addition, consumers are more likely to direct their income towards essential commodities such as food and medicines, which will hurt short term prospects of the market.

"The rise in demand for natural ingredients in cosmetic products, particularly among the millennial demographic is a key factor bolstering sales of probiotic offerings. The market is also supported by the higher awareness on clinical trials on product efficacy, which will aid market recovery after the pandemic ends," says the FACT.MR report.

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Probiotic Cosmetic Products Market- Key Takeaways

Probiotic hair care products are projected to account for major market share driven by higher incidences of scalp and hair issues.

Online retail is rapidly gaining ground as a major distribution channel for probiotic cosmetic products, supported by widespread penetration, and wider product options.

North America is a prominent market for probiotic cosmetic products, aided by consumer awareness about the adverse effects of synthetic cosmetics.

Probiotic Cosmetic Products Market- Driving Factors

Growth of the health and wellness industry is generating lucrative opportunities, among millennial consumers.

Development of multifunctional probiotic product offerings is aiding market growth.

Probiotic Cosmetic Products Market- Major Restraints

Higher cost of probiotic products is a key factor hindering sales and revenue.

Potential side effects for immune-compromised consumers hinders adoption rates.

COVID-19 Impact on Probiotic Cosmetic Products Market

The demand for probiotic cosmetic products is expected to drop moderately through 2020 owing to the coronavirus pandemic. Lockdown restrictions are likely to disrupt supply chains of essential ingredients, hurting production operations. In addition, these restraints will also stop consumers from visiting cosmetic stores, as non-essential businesses are temporarily suspended, and consumers are more likely to spend their income on essentials. Recovery of the probiotic cosmetic products market is expected to remain steady in 2021, as business restrictions are gradually relaxed.

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Competitive Landscape

Probiotic cosmetic products market players are primarily pushing to expand their product portfolios, in strategic marketing practicing. For instance, Kovo Essentials Skincare has unveiled a new CBD infused probiotic cosmetics range. ESSE Skincare, TULA Life Inc., LaFlore Probiotic Skincare, Eminence Organic Skincare, and Aurelia Probiotic Skincare, are leading probiotic cosmetic product manufacturers.

About the Report

This study offers readers a comprehensive market forecast of the probiotic cosmetic products market. Global, regional and country-level analysis of the top industry trends impacting the probiotic cosmetic products market is covered in this FACT.MR study. The report offers insights on the probiotic cosmetic products market on the basis of product type (facial care, hair care, make-up products, and body care products), form (fermentation products, cell lysates, tyndallization, and living probiotic bacteria), category (leave-on products, and rinse-off products), demographic (male, female, and pediatrics) use case (individual and professional services) and distribution channels (direct sales, departmental stores, internet retailers, specialty stores, drugs & pharmaceutical stores, and others), across five regions (North America, Latin America, Europe, East Asia, and South Asia & Oceania).

Press Release: https://www.factmr.com/media-release/1522/probiotic-cosmetic-products-market-trends

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