Cosmeceuticals Market Worth USD 58.34 Billion at 9.2% CAGR from 2021 to 2028 Backed by Presence of Youth Population in Asia Pacific

Market Overview:

The global cosmeceuticals market size is expected to experience significant growth by reaching USD 58.34 billion by 2028 while exhibiting a CAGR of 9.2% between 2021 and 2028. This information is published by Fortune Business Insights in its report, titled “Cosmeceuticals Market, 2021-2028.” The report further mentions that the market stood at USD 29.84 billion in 2020. The increasing presence of geriatric population and the rising consumer awareness regarding the adoption of natural anti-aging products is anticipated to favor the product’s demand worldwide. For instance, according to the data by the United Nations, the total number of geriatric people worldwide is expected to reach 2.1 billion.

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Market Witnessed a Negative Growth Rate of -26.4% in 2020; Shutdown of Stores Affected the Sales

According to various published articles, an overall decrease of 35% in sales was witnessed across the cosmetic sector in the U. S. This is due to the novel coronavirus pandemic that led to the closure of several stores as the lockdown was announced across several countries to curb the spread of the disease. This further hampered the sales prospect of the stores and several manufacturers that resulted in the market experiencing a negative growth rate of -26.4% in 2020.

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Market Segmentation:

Based on the product, the market is divided into skincare, hair care, injectable, and others.

On the basis of product type, the skincare segment held global cosmeceuticals market share of about 48.5% in 2020 and is expected to showcase significant growth in the forthcoming years. This is owing to the increasing demand for anti-aging serums to ensure protection from uneven skin tone, wrinkles, age spots, and dry skin.
On the basis of distribution channels, the market is trifurcated into pharmacy/drug stores, online stores, and others. Lastly, based on region, the market is classified into North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa.

What does the Report Include?

The global market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market between 2021 and 2028. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.

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DRIVING FACTORS

Increasing Adoption of Natural Products to Propel Market Growth

The increasing stress levels owing to hectic lifestyle and untimely consumption of meals is leading to adverse health issues among the youth. According to the National Institutes of Health, 1 in million people between 13 and 30 years of age suffers from Werner syndrome that leads to greying of hair, wrinkled skin, and loss of hair. Therefore, the increasing incidence of premature aging is leading to high awareness among the young population to ensure optimum health. This is further leading to the surging demand for natural beauty products such as anti-aging cosmetics and serums that are anticipated to contribute to the growth of the global cosmeceuticals market growth in the forthcoming years.

REGIONAL INSIGHTS

Asia Pacific – The market in the region stood at USD 14.69 billion in 2020 and is expected to hold the highest position in the forthcoming years. This is attributable to the increasing awareness regarding the benefits of the cosmetics products such as anti-aging, hair care products, and skincare, etc. Moreover, the presence of a large youth population in countries such as India, China, and Japan is anticipated to drive the adoption of cosmeceuticals in the region. As per a report by the United Nations, around 700 million people residing in Asia-Pacific come under the youth bracket.

Europe – The market in the region is expected to experience significant growth in the forthcoming years. This is due to the increasing focus of the established manufacturers to introduce innovative cosmeceuticals to cater to the growing demand from countries such as the U.K., Germany, France, and Spain that favor regional growth between 2021 and 2028.

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COMPETITIVE LANDSCAPE

Prominent Companies Focus on Product Innovation to Strengthen Their Market Positions

The global market is experiencing healthy competition among key players that are focusing on developing innovative anti-aging products to cater to the growing consumer demand. Moreover, this is expected to aid the companies in expanding their product portfolio and further boost sales revenues. Additionally, the other major companies are striving to maintain their presence by adopting strategies such as merger and acquisition, partnership, and collaboration that will contribute to the growth of the market during the forecast period.

Industry Development:

January 2021 – Allergan announced the acquisition of Cypris Medical, a leading company in the manufacturing of minimally invasive products. The acquisition is expected to expand the company’s footprint and further strengthen its position in the global marketplace.

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List of the Companies Profiled in the Global Market:

L’Oréal (France)
Beiersdorf Global (Germany)
Croda International Plc (U.K.)
Allergan (Ireland) (Part of AbbVie)
Avon (U.K.)
BASF SE (Germany)
Estée Lauder Companies Inc. (U.S.)
Shiseido Company, Limited (Japan)
Procter & Gamble (U.S.)
Elementis (U.K.)
Table Of Content:

Introduction
Others Scope
Market Segmentation
Others Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Overview: Trends in Cosmeceuticals Market
Snapshot of Active Ingredients Used in Cosmeceuticals
New Product Launch
Impact of COVID-19 on the Global Market
Key Industry Developments - Mergers, Acquisitions, and Partnerships
Global Cosmeceuticals Market Analysis, Insights and Forecast, 2017-2028
Key Findings / Summary
Market Analysis, Insights and Forecast – By Product Type
Skin Care
Anti-Ageing
Skin Whitening
Sun Protection
Professional Skincare
Anti-Acne
Others
Hair Care
Hair Growth
Anti-Dandruff
Others
Injectable
Botox
Dermal fillers
Other Injectable
Others
Lip Care
Tooth Whitening
Anti-Cellulite/Body Slimming Preparations
Others
Market Analysis, Insights and Forecast – By Distribution Channels
Pharmacy/Drug Stores
Online stores
Others
Market Analysis, Insights and Forecast – By Geography
North America
Europe
Asia pacific
Rest of the World
North America Cosmeceuticals Market Analysis, Insights and Forecast, 2017-2028
Key Findings / Summary
Market Analysis, Insights and Forecast – By Product Type
Skin Care
Anti-Ageing
Skin Whitening
Sun Protection
Professional Skincare
Anti-Acne
Others
Hair Care
Hair Growth
Anti-Dandruff
Others
Injectable
Botox
Dermal fillers
Other Injectable
Others
Lip Care
Tooth Whitening
Anti-Cellulite/Body Slimming Preparations
Others
Market Analysis, Insights and Forecast – By Distribution Channels
Pharmacy/Drug Stores
Online stores
Others
Market Analysis, Insights and Forecast – By Country
S.
By Product Type
Canada
By Product Type
Europe Cosmeceuticals Market Analysis, Insights and Forecast, 2017-2028
Key Findings / Summary
Market Analysis, Insights and Forecast – By Product Type
Skin Care
Anti-Ageing
Skin Whitening
Sun Protection
Professional Skincare
Anti-Acne
Others
Hair Care
Hair Growth
Anti-Dandruff
Others
Injectable
Botox
Dermal fillers
Other Injectable
Others
Lip Care
Tooth Whitening
Anti-Cellulite/Body Slimming Preparations
Others
Market Analysis, Insights and Forecast – By Distribution Channels
Pharmacy/Drug Stores
Online stores
Others
Market Analysis, Insights and Forecast – By Country/Sub-region
K.
By Product Type
Germany
By Product Type
France
By Product Type
Spain
By Product Type
Italy
By Product Type
Scandinavia
By Product Type
Rest of Europe
By Product Type
Asia Pacific Cosmeceuticals Market Analysis, Insights and Forecast, 2017-2028
Key Findings / Summary
Market Analysis, Insights and Forecast – By Product Type
Skin Care
Anti-Ageing
Skin Whitening
Sun Protection
Professional Skincare
Anti-Acne
Others
Hair Care
Hair Growth
Anti-Dandruff
Others
Injectable
Botox
Dermal fillers
Other Injectable
Others
Lip Care
Tooth Whitening
Anti-Cellulite/Body Slimming Preparations
Others
Market Analysis, Insights and Forecast – By Distribution Channels
Pharmacy/Drug Stores
Online stores
Others
Market Analysis, Insights and Forecast – By Country/Sub-region
Japan
By Product Type
China
By Product Type
India
By Product Type
Australia
By Product Type
Southeast Asia
By Product Type
Rest of Asia Pacific
By Product Type
Latin America Cosmeceuticals Market Analysis, Insights and Forecast, 2017-2028
Key Findings / Summary
Market Analysis, Insights and Forecast – By Product Type
Skin Care
Anti-Ageing
Skin Whitening
Sun Protection
Professional Skincare
Anti-Acne
Others
Hair Care
Hair Growth
Anti-Dandruff
Others
Injectable
Botox
Dermal fillers
Other Injectable
Others
Lip Care
Tooth Whitening
Anti-Cellulite/Body Slimming Preparations
Others
Market Analysis, Insights and Forecast – By Distribution Channels
Pharmacy/Drug Stores
Online stores
Others
Market Analysis, Insights and Forecast – By Country/Sub-region
Brazil
By Product Type
Mexico
By Product Type
Rest of Latin America
By Product Type
Middle East & Africa Cosmeceuticals Market Analysis, Insights and Forecast, 2017-2028
Key Findings / Summary
Market Analysis, Insights and Forecast – By Product Type
Skin Care
Anti-Ageing
Skin Whitening
Sun Protection
Professional Skincare
Anti-Acne
Others
Hair Care
Hair Growth
Anti-Dandruff
Others
Injectable
Botox
Dermal fillers
Other Injectable
Others
Lip Care
Tooth Whitening
Anti-Cellulite/Body Slimming Preparations
Others
Market Analysis, Insights and Forecast – By Distribution Channels
Pharmacy/Drug Stores
Online stores
Others
Market Analysis, Insights and Forecast – By Country/Sub-region
GCC
By Product Type
South Africa
By Product Type
Rest of Middle East & Africa
By Product Type
Competitive Analysis
Key Industry Developments
Global Market Share Analysis (2020)
Competition Dashboard
Comparative Analysis – Major Players
Company Profiles (Overview, Product Types & Services, SWOT Analysis, Recent Developments, Strategies, Financials (Based on Availability))
L’Oréal
BEIERSDORF GLOBAL
Allergan
Croda International Plc
Avon
BASF SE
Estée Lauder Companies Inc.
Shiseido Company Limited
Procter and Gamble
Elementis
Other Prominent Players
Strategic Recommendations

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