Cosmeceuticals Market Size Worth $81.75Bn, Globally, by 2028 at 8.6% CAGR - Exclusive Report by The Insight Partners

NEW YORK , April 19, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Cosmeceuticals Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Active Ingredient (Antioxidants, Peptides and Proteins, Exfoliants, Retinoids, Botanicals, and Others), Distribution Channel (Supermarkets/Hypermarkets, Online Retail Stores, Convenience Stores, Specialist Stores, and Other Distribution Channels), and Product (Skin Care, Hair Care, Oral Care, and Others)", the global cosmeceuticals market is expected to grow from $45.91 billion in 2021 to $81.75 billion by 2028; it is estimated to grow at a CAGR of 8.6% during 2021-2028.

The cosmeceuticals market growth is driven by the elevating demand for antiaging cosmeceuticals and increased adoption of online retail. However, the adverse effects of the COVID-19 pandemic restrict the market growth.

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Cosmeceuticals Market: Competitive Landscape and Key Developments

Companies operating in the cosmeceuticals market have implemented various inorganic development strategies, which have led to dynamic improvements in the market. Inorganic growth strategies, such as acquisitions and partnerships, help strengthen their customer base, expand product portfolio, and enhance geographic presence. Similarly, several companies are implementing organic strategies, such as products launch and expansions.

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In July 2021, L'Oreal Groupe launched its first-ever TikTok beauty channel that uncovers the group's science, innovations, and technologies beyond the world's favorite beauty products, in collaboration with experts from L'Oreal.

In February 2021, Revlon Inc entered into a partnership with MDR Brand Management to produce a global expansion strategy to be able to expand into Europe, the Middle East, and Africa (EMEA); Asia; and the Americas, along with driving a deeper consumer engagement. France, Germany, the UK, and the UAE are the key markets targeted by the company in the EMEA region using this collaboration.

In September 2020, Cosmetics Europe updated the Charter and Guiding principles on responsible advertising and marketing communications to lay down the common ground for all media (print, tv, radio, and internet) across Europe, mainly focused on respect for human beings, body image, and human dignity; the principles complement the existing comprehensive legislative framework.

Cosmeceuticals Market: Key Insights – Future Trend

New features in the regulations from different countries is expected to change the scope of operations in the cosmeceuticals industry. The consideration of the regulations pertaining environmental hazards could lead to the inclusion of other actions and measures in the regulation, such as a potential ban on persistent, bioaccumulative, and toxic (PBT) chemicals, and the extension of the scope of generic risk management to include consumer product ingredients. Moreover, due8 to the growing influence of social media, rapid urbanization, and increasing per capita income, individuals are willing to spend on new, unique, and premium products. In addition to this, the burgeoning e-commerce sector is providing lucrative opportunities to manufacturers for expanding their product portfolio and consumer base.

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Furthermore, the increasing adoption of the vegan lifestyle and the growing health concerns about the negative impact of petroleum-based ingredients are driving the demand for vegan cosmeceuticals. Vegan cosmeceuticals are organic products made using plant-based extracts and environmentally friendly derivatives. Therefore, several brands are collaborating with dermatologists for the production of optimal cosmeceuticals, which is anticipated to fuel the growth of the market in the coming years.

The cosmeceuticals market is expected to witness an increase in the number of antibacterial products for haircare. Many cosmeceuticals companies are already working on creating antibacterial haircare products that are safe for customers, such as cleaning sprays, antibacterial shampoos, and antibacterial moisturizers. These items are expected to fight against any bacteria or virus and offer antimicrobial disinfecting agents that will offer maximum protection for your hair throughout the day. Consumers are gradually becoming aware towards scalp treatments to reduce hair loss and improve hair health. Platelet-rich Plasma (PRP) injections are becoming more and more common among people.

Cosmeceuticals Market: Segmental Overview

Based on active ingredient, the cosmeceuticals market is segmented into antioxidants, peptides and proteins, exfoliants, retinoids, botanicals, and others. In 2021, the antioxidants segment held the largest share of the market. Moreover, it is estimated to register the highest CAGR in the market during the forecast period. Traditional distribution channels for the sales of cosmeceuticals include brick-and-mortar stores, such as supermarkets, specialty stores, pharmacies, and salons. Direct sales and e-commerce, however, have become increasingly prominent.

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Moreover, companies are now creating new shopping experiences for consumers by providing them an additional choice beyond malls, pharmacy stores, or supermarkets. They stock products in categories based on different price ranges, from elite brands to store-owned labels. In the UK, Space.NK, was founded in 1993 as a local equivalent of Sephora, the stores started expanding their retail footprint in the early 2000s, with 69 stores in the UK and Ireland, and 31 in the US.

Browse Adjoining Reports:

Physician Dispensed Cosmeceuticals Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Global Analysis and Forecasts by Product Type (Skin Care Products, Hair Care Products, Eye Care Products, Others), and Geography

Physician Dispensed Cosmeceuticals and Skin Lightening Products Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Skincare, Eyelashes, Skin Lightening, Others); Application (Hospitals, Specialty Clinics), and Geography

Anti-Aging Cosmetic Products Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Skin Care, Hair Care); End User (Women, Men); Category (Organic, Conventional); Distribution Channel (Supermarkets and hypermarkets, Specialty store, Online retail, Others) and Geography

Anti-aging Drugs Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Drug Class (Serums and supplements, Antioxidants and enzymes, Stem cells, Other drugs); Applications (Skincare, Haircare, Age related disorders, Others); Distribution Channels (Retail Pharmacies, Online Pharmacies, Others) and Geography

Anti-Aging Cosmetics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Skin Care, Hair Care, Makeup, Eye Care, Others); Form (Cream, Lotion, Serum, Others); End User (Men, Women); Distribution Channel (Supermarket/ Hypermarket, Cosmetic Stores, Online Stores, Others)

Anti-Aging Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Product (UV Absorbers, Anti-Wrinkle Products, Dermal Fillers, Botox, Anti-Stretch Mark Products); Devices (Anti-Cellulite Treatment, Laser Aesthetic Devices, Microdermabrasion Devices, Radio Frequency Devices, Others); End User (Hospitals, Clinics, Home Healthcare)

Skin Tightening Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Product Type (Radio Frequency Skin Tightening, Laser Skin Tightening, Ultrasound Skin Tightening); Portability (Portable, Standalone); Treatment Type (Non-Invasive, Minimally Invasive); Application (Wrinkle Reduction, Face Lifting, Body Lifting, Anti-Aging, Others); End User (Dermatology Clinics, Hospitals, Beauty Salons and Cosmetic Centers, Home Care), and Geography

Skincare Treatment Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Light/ LED Therapy & Photo Rejuvenation Devices, Liposuction Devices, Electrosurgical Devices, Microdermabrasion Devices, Laser Based Devices, and Cryotherapy Devices), Application (Cellulite Reduction, Hair Removal, Skin Rejuvenation, Skin Tightening & Body Contouring, and Others), Distribution Channel (Online Retails, Specialty Stores, Supermarkets/ Hypermarkets, and Other Sales Channels), End User (Dermatology Clinics, Hospitals, Spas & Salons, and Others), and Geography

Skin Aesthetic Devices Market to 2027 - Global Analysis and Forecast by Product (Laser Skin Resurfacing Devices, Nonsurgical Skin Tightening Devices, Micro-Needling Products, Light Therapy Devices); Treatment (Skin Tightening, Instant Rejuvenation, Body Contouring, Laser Lipo, Other Treatments); End User (Hospitals and Aesthetic Clinics, Medical Spas and Beauty Salons and Home Settings), and Geography

Ultrasound Skin Tightening Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Modality (non-portable, portable); Indication (massive weight loss, aging); End User (dermatology clinics, home care, hospitals, cosmetic centers)

Body Contouring Devices Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Type (Non-Invasive and Minimally Invasive Devices and Invasive Devices); Procedure (Nonsurgical Skin Resurfacing, Nonsurgical Skin Tightening, Cellulite Treatment, Liposuction and Others); End User (Hospitals and Spa centers)

Organic Personal Care Ingredients Market Forecast to 2028 - Covid-19 Impact and Global Analysis - by Type (Organic, Natural); Product (Natural surfactants, Emollients, Active ingredients, Sugar polymers); Application (Skin care, Oral care, Hair care, Cosmetics) and Geography

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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