Africa Cosmeceutical Market Size, Share, Report, Forecast 2024-2032

Africa Cosmeceutical Market Outlook

According to a new report by Expert Market Research titled, "Africa Cosmeceutical Market Share, Size, Analysis, Report and Forecast 2024-2032″, Africa cosmeceutical market reached a value of USD 1.92 billion in 2023. Aided by the mounting consumer interest in skincare products and the broadening spectrum of cosmeceutical applications, the market is projected to further grow at a CAGR of 7.60% between 2024 and 2032 to reach a value of USD 2.95 billion by 2032.

Cosmeceuticals, a blend of cosmetics and pharmaceuticals, are topically applied products that deliver benefits to the skin's health and appearance. Encompassing products such as anti-ageing creams, sunscreens, skin-lightening creams, hair care products, and others, cosmeceuticals serve a dual role of beautifying and treating. They combine the aesthetics of cosmetics with the therapeutic benefits of pharmaceuticals, driving a revolution in the skincare industry.

The burgeoning consumer inclination towards skincare products is one of the significant Africa cosmeceutical market trends driving the market. An elevated understanding of skincare regimes, along with the knowledge of the therapeutic benefits of cosmeceuticals, has prompted consumers to incorporate these products into their daily routines. Further, with the rising health consciousness and emphasis on personal grooming, cosmeceuticals have gained significant traction among consumers in Africa.

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The diverse applications of cosmeceuticals are also propelling the Africa cosmeceutical market growth. In the skincare industry, cosmeceuticals are used to combat various skin issues, including wrinkles, hyperpigmentation, and acne. Hair care cosmeceuticals help to treat issues like hair fall, dandruff, and damage repair. In addition, with the rise in technological advancements, novel ingredients such as peptides, antioxidants, and botanical extracts are being used in cosmeceutical products, enhancing their efficiency and thus, their appeal to consumers.

Moreover, the increase in urbanisation and the subsequent rise in disposable income have played a significant role in the growing Africa cosmeceutical market demand. An expanding middle-class population is seeking products that not only enhance their aesthetic appeal but also offer health benefits, thus fuelling the demand for cosmeceuticals. Furthermore, a shift towards natural and organic products has led to the development of botanical-based cosmeceuticals, which are gaining popularity for their mildness and efficacy.

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The Africa cosmeceutical market size is also spurred by the growing influence of social media and digital marketing. Beauty influencers and lifestyle bloggers have a substantial impact on consumer preferences, promoting cosmeceuticals as an integral part of skincare and beauty routines.

Africa Cosmeceutical Market Segmentation

The market can be divided based on product type, distribution channel, and region.

Market Breakup by Product Type

Skin Care
Anti-Ageing
Anti-Acne
Sun Protection
Moisturisers
Other

Skin Care Product Types

Hair Care

Shampoos and Conditioners
Hair Colourants and Dyes
Other Hair Care Product Types

Lip Care
Oral Care

Market Breakup by Distribution Channel

Supermarkets and Hypermarkets
Convenience Stores
Speciality Stores
Online
Others

Market Breakup by Region

North Africa
East and Central Africa
West Africa
South Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Africa cosmeceuticals companies. Some of the major key players explored in the report by Expert Market Research are as follows:

L'Oreal SA
Procter & Gamble Company
Unilever Plc
Johnson & Johnson Services, Inc.
Shiseido Co. Ltd
NAOS Group
Beiersdorf AG
Groupe Clarins SA
Black Opal LLC
The Body Shop International Limited
Sorbet Group
Others

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This release was published on openPR.