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Cosmeceuticals Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends | BASF SE, Johnson & Johnson, LVMH (Moët Hennessy Louis Vuitton), Givenchy, The Procter & Gamble Company
Cosmeceuticals Global Market Report 2024
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 transparency and traceability, rise of nutricosmetics, hybrid skincare-beauty products, microbiome-friendly products.
Market Overview -
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.
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Rising Prevalence Of Skin Disorders Drives Growth In The Cosmeceuticals Market
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.
Competitive Landscape -
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
Technological Advancements Drive Innovation In The Cosmeceuticals Market
Technological advancements are a key trend gaining popularity in the cosmeceuticals market. Companies operating in the cosmeceuticals market are adopting new technologies to sustain their position in the market. In September 2021, Croda International Plc., a specialty chemicals company located in the United Kingdom, launched Nutrinvent Balance, a unique encapsulation technology designed to provide rapid sebum reduction advantages on the scalp, as the latest innovation in their hair care ingredient line. The new component is suited for use in a wide range of hair care formulations, providing immediate sebum reduction on the scalp from the first application, and is aimed at customers who experience scalp oiliness.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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Major Companies Covered in this report are:-
SIRCUIT Cosmeceuticals Inc
Janssen Cosmetics
Dermelect
Osmotics
AWE Cosmeceuticals
Christina
Advanced Cosmeceuticals
Hale Cosmeceuticals
Newport Cosmeceuticals
Sabinsa Corporation
United Cosmeceuticals GmbH
Cosmeceuticals International
PCCA…
