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Medicated Bath Additive Market Report 2024 - Medicated Bath Additive Market Growth And Share
Medicated Bath Additive Market
According to The Business Research Company's, The medicated bath additive market size has grown strongly in recent years. It will grow from 29.21 billion in 2023 to $31.45 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to need for improving skin tone, increasing demand for affordable bathing additive products, consumption of premium bath bombs and bubbles, increasing demand for powder type bath additives, growing demand for adult type bath additives.
The medicated bath additive market size is expected to see strong growth in the next few years. It will grow to $42.20 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to rising preference for natural products, rise of biotechnology-inspired formulations, demand of aromatherapy, rise in maintaining personal health, growing awareness about hygiene issues. Major trends in the forecast period include growing trend of refillable packaging, changing consumer preferences, introduction of innovative product offerings, growing emphasis on health and wellness, introduction of wide range of product offerings.
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Market Drivers and Trends:
The rising prevalence of skin conditions is expected to propel the growth of the medicated bath additive market going forward. Skin conditions refer to any abnormality, disorder, or disease that affects the skin, which is the largest organ of the body. The prevalence of skin conditions prompts the utilization of medicated bath additives, as they offer targeted therapeutic benefits by delivering active ingredients directly to the skin, addressing symptoms, and promoting overall skin health. For instance, in August 2021, according to the Centers for Disease Control (CDC), a US-based federal government agency for the prevention and control of diseases, more than 7.5 million people in the USA and over 125 million people globally suffered from psoriasis, one of the most prevalent chronic cutaneous dermatitis. Therefore, the rising prevalence of skin conditions is driving the growth of the medicated bath additive market.
Major companies operating in the medicated bath additive market are focusing on innovations, such as medicated body care products, to cater to the needs of individuals engaged in workouts and recovery. Medicated body care products are personal care products that contain active ingredients that are intended to treat or prevent specific skin conditions or diseases. For instance, in March 2022, Degree by Unilever Plc, a UK-based consumer goods company, launched new deodorant and body care products, including Maximum Recovery skin cleansing products. The Degree Maximum Recovery Body Wash & Soaks, featuring Epsom salts, electrolytes, and mood-boosting fragrance technology, work with hot water in showers for recovery. Massage bars relieve tension, cleanse and refresh skin, and double as bubble baths.
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Major Key Players of the Market:
Johnson & Johnson, LVMH Moët Hennessy Louis Vuitton S.E., Unilever plc, L'Oreal S.A., Reckitt Benckiser Group plc, Estée Lauder Companies Inc., Galderma S.A., Revlon Inc., Croda International plc, Lupin Limited, L'Occitane International S.A., Piramal Pharma Limited, Kneipp GmbH, Shanghai Jahwa United Co. Ltd., Lush Cosmetics Ltd., Almirall S.A., Himalaya Wellness Company, Weleda AG, Fine Organic Industries Limited, Tom's of Maine Inc., Herbivore Botanicals LLC, Westlab ltd., Acure Organics, Borghese Inc., Nardo's Naturals, Soothing Touch, The Mother Soap Co., Buff City Soap, Bath & Body Works, The Body Shop
Medicated Bath Additive Market 2024 Key Insights:
• The Major Key Players of the Market:
Johnson & Johnson, LVMH Moët Hennessy Louis Vuitton S.E., Unilever plc, L'Oreal S.A., Reckitt Benckiser Group plc, Estée Lauder Companies Inc., Galderma S.A., Revlon Inc., Croda International plc, Lupin Limited, L'Occitane International S.A., Piramal Pharma Limited, Kneipp GmbH, Shanghai Jahwa United Co. Ltd., Lush Cosmetics Ltd., Almirall S.A., Himalaya Wellness Company, Weleda AG, Fine Organic Industries Limited, Tom's of Maine Inc., Herbivore Botanicals LLC, Westlab ltd., Acure Organics, Borghese Inc., Nardo's Naturals, Soothing Touch, The Mother Soap Co., Buff City Soap, Bath & Body Works, The Body Shop is expected to grow toMedicated Bath Additive Market 2024 Key Insights:
• Surging Prevalence Of Skin Conditions Fuels Growth In Medicated Bath Additive Market
• Major Players In Medicated Bath Additive Market Prioritize Product Development To Address Consumer Preferences And Concerns
• North America was the largest region in the medicated bath additive market in 2023.
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