What is the Historical Analysis of the Cosmeceuticals Market Size?
The cosmeceuticals market has seen considerable growth due to a variety of factors.
•The size of the cosmeceuticals market has seen a significant upsurge in the past few years. The market will escalate from a value of $60.65 billion in 2024, reaching a figure of $65.29 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.7%.
Factors such as an aging population, progress in scientific research, a rise in disposable income, emergent health and wellness trends, and changes in regulations have contributed to this growth in the historical period.
What is the Forecasted Growth of the Cosmeceuticals Market Size?
The cosmeceuticals market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations are high for the cosmeceuticals market as it's projected to experience significant expansion in the coming years, surging to a value of $92.2 billion by 2029. This reflects a compound annual growth rate (CAGR) of 9.0%.
This projected growth in the forecast period could be a result of the growing popularity of non-invasive beauty procedures, men's skincare and grooming, the integration of digital technology in skincare, a trend towards personalizing skincare, and the clean beauty movement. The forecast period also suggests a growing interest in cannabis-based ingredients, the desire for transparency and traceability in products, an increased appeal of nutricosmetics, the merging of skincare and beauty in hybrid products, and the rise of products that are friendly to the skin's microbiome.
What Are The Primary Growth Drivers In The Cosmeceuticals Market?
The rising occurrence of skin conditions is anticipated to drive the cosmeceuticals sector's advancement. These conditions could impact the skin's appearance, structure, texture, or overall well-being. Cosmeceuticals are bioactive skincare products offering therapeutic advantages, and they can be employed to supplement the treatment of various skin conditions like pigmentation disorders such as melasma or freckles, photo-melanosis, and photo-tanning. For instance, a report released by the American Cancer Society, a voluntary health organization based in the US focusing on cancer, stated in January 2023 that though melanoma constitutes merely about 1% of skin cancers, it leads to the majority of skin cancer-related deaths. In the same year, it's expected that 97,610 new melanomas will be discovered (58,120 in males and 39,490 in females), and approximately 7,990 individuals are predicted to succumb to melanoma. Moreover, the National Psoriasis Foundation, a US-based non-profit focused on individuals with psoriasis and psoriatic arthritis, reported in December 2022 that psoriasis affects 125 million people worldwide, accounting for 2 to 3 percent of the total population. Thus, the escalating prevalence of skin ailments is projected to boost the cosmeceuticals market's development.
What Is The Segmentation Of The Global Cosmeceuticals Market?
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: Super market, Pharmacy, Drug Stores, Beauty Salon, Online Retailing Store, Other Distribution Channels
Subsegments:
1) By Skincare: Anti-Aging Products, Moisturizers, Sunscreens, Acne Treatments, Exfoliants
2) By Haircare: Hair Growth Products, Anti-Dandruff Treatments, Conditioners And Masks, Hair Styling Products
3) By Injectable: Botulinum Toxin, Dermal Fillers, Other Injectables
4) By Oral Care: Whitening Products, Anti-Cavity Treatments, Gum Health Products
5) By Other Product Types: Body Care Products, Foot Care Products, Nail Care Products, Men’s Grooming Products
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What Emerging Trends Are Shaping The Cosmeceuticals Market Landscape?
The assimilation of cutting-edge technology is a rising trend in the cosmeceuticals market. To maintain their competitive edge, corporations in this sector are increasingly adopting novel technologies. A prime example of this is Merck KGaA, a pharmaceutical firm from Germany, which in February 2022, introduced the RonaCare Baobab and RonaCare Hibiscus. Unveiled as innovative cosmetic components, these extracts are derived from nutrient-loaded superfoods, specifically, baobab fruit and hibiscus flower. Ethically sourced, these botanical extracts are ideally suited for an assortment of topical applications, including regular skincare and dermocosmetics. RonaCare Baobab is effective in safeguarding critical skin matrix components like elastin and collagen, and it also alleviates irritation. On the other hand, RonaCare Hibiscus soothes sensitive skin, provides protection against oxidative stress, boosts the vitality of skin cells, and inhibits collagen degradation, all contributing to healthier, more resilient skin.
Who Are the Key Players in the Cosmeceuticals Market?
Major companies operating in the cosmeceuticals market include:
• 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
What are the Regional Insights into the Cosmeceuticals Market?
Asia-Pacific was the largest region in the cosmeceuticals market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cosmeceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
