The global cosmeceuticals market size was estimated at USD 52.8 billion in 2021 and is expected to surpass around USD 103.9 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 7.81% during the forecast period 2022 to 2030.
Cosmeceutical's products are cosmetics that contain few ingredients that are bio active and they are known to have medical benefits. The demand for these products is expected to grow in the forecast. Due to the increase in different types of skin disorders. Across the globe the demand for the dermatologists is expected to grow in the forecast. Due to the effective products that are prescribed by these dermatologists. The treatments suggested by them are extremely beneficial and provide solutions to the problems. Although there are a lot of other products that are available in the market but the ones prescribed by the dermatologists are in great demand due to the effectiveness of these products. Most of the sales of these products are through the dermatological prescriptions. They account for 40% of the market share. The presence of the various manufacturing companies that make these products will also be instrumental in driving the growth of the market in the coming years.
During the outbreak of COVID-19 pandemic the demand for cosmetic ALS had got down as the visits of the patients seeking treatments had reduced. Lockdowns imposed across the nations and restricted movement reduced the flow of patients into the dermatological clinics. Most of these clinics were shut down during the lockdown which affected the growth of the market. All the procedures that were elective were also postponed during the pandemic. In order to stop the spread of the virus there was a reduced demand for any cosmetic procedures. The flow of the patients to the specialty clinics had also reduced to a great extent. The number of prescriptions coming out of the dermatological clinics had also dropped down. The revenues of the manufacturing units had also seen or decline. The production units were also affected to a great extent as there was a shortage of raw materials due to restricted movement. Post pandemic the sales have increased and it is expected to grow during the forecast period.
Report Scope of the Cosmeceuticals Market
|Market Size in 2022||
USD 56.92 Billion
|Market Size by 2030||
USD 103.9 Billion
|Growth Rate from 2022 to 2030||CAGR of 7.81%|
|Forecast Period||2022 to 2030|
|Segments Covered||Product, Packaging Material, Ingredient, Distribution Channel, and Geography|
|Companies Mentioned||Johnson and Johnson, L'Oreal, Procter and gamble, Unilever, Estee Lauder, and Avon.|
These natural ingredients have less side effects as compared to the traditional products which are generally used by the consumers. The side effects of these products are creating a greater demand for natural ingredients. Major manufacturing companies are constantly engaging in research and developmental activities for coming up with better products and organic products.
As the manufacturing units are offering these products on the online platforms the sales of these products are expected to grow and a large amount of revenue will be generated through these online platforms. The government of various nations are taking any shear tips in order to promote different market players as their products are good for skin and hair. As many active ingredients are used in the products which are used for the treatment for skin and hair is growing the market is expected to grow well. Active ingredients will play an important role in developing the market. There is a growing demand for these products even in the emerging economies. Various campaigns are carried out by organizations that are dedicated for the hair and skin health. Skin cancer awareness month will be beneficial in driving the market growth as it helps in creating the awareness regarding the damage caused by the UV rays. It shall be helpful in promoting the sunscreens that help in preventing the skin from the harmful effects of the ultraviolet rays. As the number of skin disorders in children as well as the adults continue to grow the demand for all of these skin care products will also continue to grow.
Growing demand for organic products across the globe will encourage the manufacturers to develop more products by incorporating active ingredients which will be best for the skin and hair. Many new products are launched in the market which will be responsible for the growth in the market. All of these products are extremely beneficial in various skin as well as her conditions. They help in reversing the worst of the disorders through the use of these medicines which are prescribed by the dermatologists. Constant research and development activities have been fruitful in coming up with innovative products that worked like miracles. All of these factors are expected to drive the market growth in the coming years.
Depending upon the type of the product there are different types of hair care products skin care products and oral care products. Out of all of these the skin care segment is expected to grow well in the forecast period. This segment has dominated the market in the past with the share of about 44% and it is expected to grow well in the coming years. Various campaigns undertaken by the organizations that help in creating an awareness regarding the harmful effects of the ultraviolet rays and the use of sunscreens and other lotions that prevent the skin damage as these products are extremely beneficial in preventing the skin from being damaged due to the ultraviolet rays will be beneficial in driving the market growth. he's awareness campaigns play a very important role in the growth of the market as they create an awareness regarding the ill effects of various factors. Prolonged exposure of skin to the ultraviolet radiation leads to skin cancer which happens to be a chronic disorder and can also be fatal. There are other effects of the exposure of the skin like aging and dark spots. undo males have started taking steps to protect their skin through the use of different skin care products and they shall drive the market growth in the coming years. There are a wide range of products that are available for the skin that help in preventing the damage caused by the ultraviolet radiation and all of these products will be in great demand during the forecast period. The demand for the sunblock creams and the BB creams will also grow and drive the market growth in the coming years. There is a growing demand for moisturizers as well as the makeup serums which plays similar roles.
Apart from the skin care segment the hair care segment is also expected to grow at a considerable rate during the forecast period as there is a demand for various products that help in maintaining and strengthening the hair. Shampoo, conditioner, hair color and hair oil will be the most sold products in the coming years. there's a growing popularity of dry shampoos and air mask with expected to drive the market growth in the coming years. Shampoos are prescribed by dermatologists in order to treat various skin conditions. Due to an increase in the pollutants in the environment the damage caused to the hair can be treated with the use of these products. Patients seek prescriptions from the dermatologists in order to reduce the flaking and sebum from their scalp as these are some of the factors that are driving the market growth and in the recent years the cases of such problems have grown to a great extent. Environmental pollution as a negative effect on the skin and hair.
Distribution Channel Insights
In the past the specialty stores and supermarkets accounted for the largest market share and it is expected to grow well during the forecast period. Due to the various types of marketing strategies that are adopted by the manufacturers and distributors the demand for these products through the supermarkets and the specialty stores is expected to grow. Aggressive promotions will also be responsible for the growth of the market in the coming years. Dual income households and increased disposable income is also responsible for the growth of the market especially in the countries belonging to the Asia Pacific region. Bulk purchases have also increased due to the availability of such products at the supermarkets.
The online distribution channel or the online segment is also expected to witness a good growth in the coming years due to the availability of these products on the online platforms and these online platforms provide offers which are beneficial in driving the market growth. Constant advancements in terms of technology and the adoption of these technologies by the consumers will drive the market growth. The sales of these products through the online stores like Amazon have created a great impact on the market. The amount of discounts provided by these online platforms will also be responsible for attracting more consumers and increase the sales of the products.
Cosmeceuticals Market Share, By Region, 2021 (%)
|Regions||Revenue Share in 2021 (%)|
European region dominates the market and it shall continue to lead the market growth in the coming years due to the extreme climate conditions in this region. This region has had the largest market share in the past which accounted for about 32% and it is expected to grow well in the coming years. The demand for these products are maximum from the countries like Germany, France, Netherlands and the United Kingdom. These regions have a large number of population that suffers from extreme weather conditions and causes dry skin in the people staying in these areas. All the products that provide benefits for dry skin and other skin conditions will be in great demand in this region. The products offered in this region are good in terms of quality which will be one of the reasons that shall have a positive impact on the growth of the market.
Key market players
Segments covered in the report
By Packaging Material
By Distribution Channel
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