Functional Cosmetics Market size worth $ 4.9 Billion, Globally, by 2028 at 4.3% CAGR: Verified Market Research®

JERSEY CITY, N.J., Jan. 24, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Functional Cosmetics Market" By Functionality (UV Filters, Skin Lightening Agents, Conditioning Agents, Anti-Aging Agents), By Application (Skin Care, Hair Care), and By Geography. According to Verified Market Research, the Global Functional Cosmetics Market size was valued at USD 2.9 Billion in 2020 and is projected to reach USD 4.9 Billion by 2028, growing at a CAGR of 4.3% from 2021 to 2028.

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Browse in-depth TOC on "Functional Cosmetics Market"

202 - Pages

126 – Tables

37 – Figures

Global Functional Cosmetics Market Overview

The rise in disposable income acts as a primary growth driver in the Functional Cosmetics Market. A rise in disposable incomes, especially in developing economies like India and China elevates the standards of living, which makes these beauty products affordable among youth and millennials. Increasing awareness, having the desire for ageless beauty, male grooming, and digitalization, use of natural and organic products are the major driving factor of the cosmetics market.

The demand for cosmetic products became essential for people of all age groups and gender. This gave endless opportunities to the cosmetics industry to launch a lot of new products. Different products for different age groups resulted in an increase in revenue for the market. Earlier the source of advertisement was limited to newspapers and television. With the introduction of the digital world, endless opportunities also opened for the cosmetic market. From advertisement to selling the actual product over the internet has played a vital role in the overall revenue of the market.

Also, chain marketing also became quite popular in the 90s and early 2000 due to which the cosmetics market has shown a positive trend. But due to the overuse of chemicals in the manufacturing of these products, there were a lot of side effects. For example, burning of the skin, acme, or rash. To overcome this problem manufacturers focused on the use of organic products which resulted in huge revenue generation for the market. As there are no side effects of the organic products, they became quite popular in a minimal span of time and it opened a window of multiple opportunities for the market.

Key Developments

• In October 2018, AkzoNobel launched its business called AkzoNobel Specialty Chemicals as Nouryon.
• In April 2020, a natural polymer introduced by Nouryon for sunscreen formulation. SolAmaze Natural is appropriate with synthetic and organic sunscreen formulations.
• In August 2021, Clariant AG captured the remaining 60-70% of Brazilian personal care specialty company Beraca and took over full control.

Key Players

The major players in the market are Unilever, Givaudan SA, BASF SE, Clariant AG, Croda International Plc, Evonik Industries AG, Gattefossé SAS, L'Oréal, The Estee Lauder Companies, Shiseido Company, Oriflame, Nouryon, Seppic SA, Procter & Gamble Co, Beiersdorf AG, among others.

Verified Market Research has segmented the Global Functional Cosmetics Market On the basis of Functionality, Application, and Geography.

• Functional Cosmetics Market, By Functionality
• UV Filters
• Skin Lightening Agents
• Conditioning Agents
• Anti-Aging Agents
  
• Functional Cosmetics Market, By Application
• Skin Care
• Hair Care
  
• Functional Cosmetics Market by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

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Top 10 Cosmetics Companies polishing the appearance to give a royal look

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