Cosmeceuticals Market Size to Reach Around USD 103.9 Bn by 2030

Ottawa, Sept. 09, 2022 (GLOBE NEWSWIRE) -- Precedence Research, Recently Published Report on “Cosmeceuticals Market (By Product, By Packaging Material, By Ingredient, By Distribution Channel) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2030”.

Report Insights:

• Asia Pacific cosmeceuticals market size was estimated at USD 19.5 billion in 2021.
• By product, the skin care segment has reached 62.4% market share in 2021.
• The hair care segment has made up revenue share of around 19.6% in 2021.
• By distribution channel, the supermarkets and specialty stores segment accounted 58% market share in 2021.
• Europe region has garnered market share of around 34.4% in 2021.
  
  

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What is the regional impact in the cosmeceuticals market?

• The European region is expected to dominate the market as the number of products demanded from this region are high. As this region has extreme climatic conditions the demand for skin care and hair care products is expected to grow in this region. The market growth in this region is driven by quality products. The population in this region faces dry skin conditions and the demand for moisturizers and lotions is expected to grow in the coming years.
• The market in the North American region is also expected to grow well in the coming years patients that suffer from different types of dermatological disorders. Growth in the cases of eczema and Melanoma will drive the market growth. The demand for dermatological procedures is also expected to grow in the North American region and it shall drive the market growth in the coming years.
• Major manufacturing companies have formulated strategic partnerships in order to enter the developing regions of the Asia Pacific market. There has been an increased investments in the digital infrastructure which shall be beneficial in providing better customer support and distribution of the products. Increasing population of this region and the awareness about the products available in the market shall drive the market growth in the Asia Pacific region. Growing demand for aesthetic procedures and improving the health the skin and hair will drive the market growth in the coming years period.
  
  

Report Highlights

• On the basis of the product, the skin care segment is expected to dominate the market in the coming years as a number of skin care products used by them consumers in the developing as well as the developed nations is expected to grow in the coming years period increase in the disorders of the skin across the globe will drive the market growth in the coming years. Growing concerns regarding the flaky scalp and sebum of the scalp will drive the market growth for the hair care products.
• Maximum sales will be generated through the supermarkets and specialty stores. A large amount of revenue will be generated through these stores as compared to the online platforms. The wide variety of products available at the supermarkets and awareness campaigns will drive the market growth in the coming years.
• The availability of these products on online platforms will also be instrumental in increasing the market growth during the forecast period. After the COVID-19 pandemic the demand for the online platforms is growing. The availability of the pharmacies or drugstores and the availability of advanced products at these stores will drive the market growth in the coming years.
  
  

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Scope of the Report

Market Dynamics

Drivers

Government of various regions are taking initiatives for creating awareness regarding the products available for the skin and hair care period these initiatives are taken in order to create an awareness regarding the effects of various factors present in the environment. Campaigns undertaken by various organizations that help in creating an awareness regarding the causes of skin cancer and the preventive measures will drive the market growth in the coming years. Constant exposure to ultraviolet rays may lead to skin cancer which may be fatal and sunblock creams or sunscreen are extremely beneficial in preventing it. Many such campaigns will drive the market growth for the skin and hair products. There has been an increase in the number of skin disorders of the children as well as the adults.

The presence of organic products in the market will also drive the market growth period there's a growing demand for active ingredients and natural ingredients in these products that shall be beneficial in the growth of the market in the coming years. The presence of these active ingredients on actual products is responsible for reducing the side effects caused on the use of these products. Major manufacturing units are concentrating on providing these products that have no side effects. Increase in their visits to the specialty clinics or dermatological clinics will drive the market growth due to the amount of prescriptions that create a demand for these products.

Restraints

Increase in the number of hidden skin disorders is creating a demand for these products especially in the geriatric population. The awareness about the availability of various treatments for skin and hair are driving the market growth but most of these products are available at a high cost. Expensive products will be a major restraint in the growth of the market. Many manufacturing companies are projecting themselves as luxury products which are extremely expensive. The amount of investment that goes in his manufacturing units makes the product expensive and unaffordable for the population of the developing regions. Also the availability of other products with lower quality substitutes will affect the market.

Opportunities

Growing demand for organic products and the focus of various manufacturing companies on research and developmental activities that help in coming up with active ingredients are organic products will drive the market growth in the coming years. as the side effects of the use of these products is less as compared to the traditional products the market is expected to grow. Introduction of such products will provide better opportunities for the growth of the market

Challenges

The presence of various replicated products in the market that seemed to be the same brand product will deteriorate the market of the original products or the original brand. As the ingredients used in these products are low quality ingredients the market for the original brands will be hampered. The counterfeit products provided by various manufacturers will be the most challenging factor in the growth of the market in the coming years.

Related Reports

• Cosmetic Surgery Market Research Report 2022 to 2030
• Cosmetic Chemicals Market Research Report 2022 to 2030
• Cosmetic Packaging Market Research Report 2022 to 2030
  
  

Recent Developments

• In the year 2021 Takami Co., was Acquired by L'Oreal and the dermatologic clinics of the organization were also acquired according to the contract. This acquisition will be beneficial in improving the market presence of the organizations.
• A new product was launched through the use of artificial intelligence which helps in customizing the products according to the needs of the customers. Beiersdorf announced the product named O.W.N Which was launched in the European market.

Market Segmentation

By Product

• Skin Care
  • Anti-aging
  • Sun Protection
  • Skin Whitening
  • Anti-Acne
  • Professional Skincare
  • Others
• Hair Care
  • Hair Growth
  • Anti-Dandruff
  • Others
• Injectable
  • Botox
  • Dermal Fillers
  • Other
• Others
  • Lip Care
  • Tooth Whitening
  • Anti-Cellulite/Body Slimming Preparations
  • Others

By Packaging Material

• Glass
• Plastic
• Metal
• Others

By Ingredient

• Anti-Oxidants
• Sunscreens
• Botanicals
• Peptides & Proteins
• Exfoliants
• Moisturizers
• Retinoids
  
  

By Distribution Channel

• Online Platforms
• Supermarkets and Specialty Stores

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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