China's Cosmeceuticals Market Soars with an 11.8% CAGR: Rising Affluence and Beauty Consciousness Propel Growth

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Sep 25, 2023, 14:30 ET

DUBLIN, Sept. 25, 2023 /PRNewswire/ -- The "Physician Dispensed Cosmeceuticals - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Physician Dispensed Cosmeceuticals estimated at US$18 Billion in the year 2022 is projected to reach a revised size of US$37.3 Billion by 2030, growing at a CAGR of 9.5% over the analysis period 2022-2030.

Market Highlights:

Skin Care, one of the segments analyzed in the report, is projected to record 10.7% CAGR and reach US$17.4 Billion by the end of the analysis period. Growth in the Hair Care segment is estimated at 9.2% CAGR for the next 8-year period.

The U.S. Market is Estimated at $6.7 Billion, While China is Forecast to Grow at 11.8% CAGR:

The Physician Dispensed Cosmeceuticals market in the U.S. is estimated at US$6.7 Billion in the year 2022.
China, the world's second largest economy, is forecast to reach a projected market size of US$3.1 Billion by the year 2030, trailing a CAGR of 11.8% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.1% and 8.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.7% CAGR.

The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States, although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in the Euro area is helping boost real incomes and is contributing to a pick-up in economic activity. China is expected to see strong increases in GDP in the coming year as the pandemic threat recedes, and the government sheds its zero-COVID policy. With optimistic GDP projections, India remains on-course to emerge into a US$6 trillion economy by 2030, surpassing Japan and Germany.

The upturn, however, remains fragile, and a number of interlocking challenges continue to run in parallel, such as continued uncertainty around the war in Ukraine; slower than expected decline in global headline inflation; continuation of food and fuel inflation as a persistent economic problem for most developing countries; and still high retail inflation and its impact on consumer confidence and spending. Countries and their governments are showing signs of weathering these challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically conformable levels by raising interest rates, new job creation will slowdown and impact economic activity. Stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Although corporate investments can likely be held back by inflation worries and weaker demand, the rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

Companies Mentioned:

Allergan Aesthetics
Cardinal Health, Inc.
Bayer AG
Amway Corporation
Beiersdorf AG
Clinique Laboratories LLC
Allergan PLC
Cosmeceuticals International Inc.
Cellex-C International, Inc.
ALASTIN Skincare, Inc.
A. Menarini Asia-Pacific Holdings Pte., Ltd.
Athena Cosmetics, Inc.
Cosmedical Technologies LLC
Bausch Health Companies Inc.
Cosmetic Skin Solutions LLC

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Myriad Benefits of Physician Dispensing of Cosmeceuticals Drives Market Growth
Growth in the Global Cosmeceuticals Market Bodes Well for Physician-Dispensed Products
Aging Population Emerges as a Key Demographic Driver of Growth in the Physician-Dispensed Cosmeceuticals Market
Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
Elderly Population (65+ Years) as a % of Total Population by Developed, Less Developed and Least Developed Regions: 2019 & 2030
Societal Pressure to Look Young Peps Demand for Facial Aesthetics
Undesirable Side Effects: A Challenge to Reckon With
Anti-Aging Products: The Prime Category in the Physician-Dispensed Cosmeceuticals Market
Global Anti-Aging Cosmetics Market for the Years 2018, 2020, 2022 and 2024
Major Anti-Aging Ingredients of Cosmeceuticals
Cosmeceuticals with Biologically Active Ingredients to Improve Skin Functioning Begin to Find Favor
Increased Focus on Skin Microbiome Paves Way for New Generation Skincare Products
Cosmeceuticals Receive Boost from Introduction of Lipid Nanoparticles
Skin Brightening and Lightening Products: Significant Opportunities for Growth
Stem Cell Products Transform Market
Select Popular Stem Cell Beauty Products
Botulinum Toxin: The Preferred Solution in Facial Injectables Market
Cosmetic Botulinum Toxin Procedures Performed Worldwide: Percentage Breakdown of Procedure Volume by Gender for 2020E
Factors Propelling the Cosmetic Botox Market: In a Nut Shell
Millennials: A Popular Demographic Group for Botulinum Toxin
Cosmetic Botulinum Toxin Procedures Performed Worldwide: Percentage Breakdown of Procedure Volume by Age Group for 2019
Cosmeceutical Consumers: A Highly Informed, Aesthetically-Conscious Group
Rise in Young Population and Skin Conditions Such as Acne Drive Demand
Women Account for Highest Spends on Skin Care
Women as % of Total Labor Force in Select Countries: 2019
Growing Trend towards Cosmeceuticals with Natural Ingredients
Focus on Finding Alternatives to Hydroquinone for Pigment Control Purposes
Manufacturers Widen Customer Base
Physician Dispensing of Cosmeceuticals Remains a Contentious Topic
Distribution Scenario
E-Commerce Channels Reinforce Sales of Physician Dispensed Products
Percentage Share of Online Channel in Health and Beauty Sector: 2020 and 2025
Social Networking Emerges as an Effective Marketing Tool in the Beauty Space
An Insight into Notable Barriers to Market Growth

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/9w8xp9

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