Market Snapshot:
Cosmeceutical products are a category of skincare and cosmetic products that combine pharmaceutical and cosmetic properties. Consumer awareness of skincare ingredients and their benefits has driven the demand for cosmeceutical products. These products contain active ingredients with purported medicinal or therapeutic benefits, intended to improve the appearance and health of the skin. Cosmeceuticals are typically formulated with higher concentrations of active ingredients than standard cosmetics, and they may undergo clinical testing to validate their safety and efficacy claims. These products are often recommended or prescribed by dermatologists and skincare professionals as part of a comprehensive skincare regimen tailored to individual skin types and concerns. The growing demand for advanced skincare solutions and the increasing consumer preference for products backed by scientific research have fueled the popularity and market growth of cosmeceutical products
Highlights from Cosmeceutical Products- Market Study
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 10.5% |
The key Vendors profiled in the report are Johnson & Johnson (United States), L'Oreal SA (France), Beiersdorf AG (Germany), Unilever (United Kingdom), Shiseido Company Limited (Japan), Procter & Gamble Company (United States), The Estée Lauder Companies Inc. (United States), Supergoop (United States), LVMH (France) and Lotus Herbals Pvt. Ltd (India). Additionally, other players that are part of this comprehensive study are VLCC Health Care Ltd (India), Coty (United States), Bioderma (France), Coppertone (New Jersey), BASF SE (Germany) and Unilever (United Kingdom).
Geographic Breakdown and Segment Analysis
The Global Cosmeceutical Products- market presents a comprehensive analysis of the Cosmeceutical Products- market by product type (Skin Care (Anti-Ageing, Skin Whitening, Sun Protection, Professional Skincare, Anti-Acne, Others), Hair Care (Shampoos and Conditioners, Hair Colorants and Dyes), Injectable (Botulinum Toxins, Dermal Fillers, Others), Lip Care, Oral Care and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Cosmeceutical Products- industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Cosmeceutical Products- market
Analyst at AMA have segmented the market study of Global Cosmeceutical Products- market by Type, Application and Region.
Influencing Trend:
Social media platforms and beauty influencers driving the popularity of cosmeceutical products
Market Growth Drivers:
Growing Awareness for Advanced Skincare Solutions and Increasing Demand for Natural and Organic Products
Challenges:
Establishing the effectiveness of cosmeceuticals poses challenges for smaller manufacturers
Restraints:
The high price tag attached to skincare products.
Opportunities:
Advancements are elevating the effectiveness of cosmeceutical products when compared to traditional skincare formulations
Market Developments Activities:
In April 2023, Givaudan, a prominent player in the fragrance & beauty industry, disclosed the successful acquisition of a significant cosmetic ingredient portfolio from Amyris, Inc. Through this acquisition, the company is enriching its distinctive biotech portfolio and positioning itself as a frontrunner in guiding the market towards a more sustainable future.
In January 2023, Oriflame broadened its skincare range for the Indian market with the introduction of its inaugural line of 'cosmeceutical' products, NovAge Proceuticals. This new addition to the cosmetics and beauty company has customized its offerings to efficiently address particular skin needs and challenges faced by its customers.
Regulatory Insights:
In the European Union (EU), cosmeceutical products fall under the purview of the EU Cosmetics Regulation (Regulation (EC) No. 1223/2009), which establishes the regulatory framework governing the safety, labelling, marketing, and distribution of cosmetic products, including cosmeceuticals. Before being authorized for sale, cosmeceutical products must undergo a safety assessment conducted by a qualified individual responsible for product safety. This assessment thoroughly evaluates all ingredients utilized in the product, considering potential risks to human health. and As per the Drugs and Cosmetics Act of 1940 and the New Cosmetics Rules of 2020, along with the associated regulations, the State Drug Control Department oversees the inspection and approval of cosmetic licenses for importers and manufacturers in India. Importation of cosmetics is managed through a registration system overseen by the Central Drugs Standard Control Organization (CDSCO).
Manufacturers are increasingly entering the cosmeceutical industry due to there is a growing consumer preference for skin care products that offer both cosmetic benefits and pharmaceutical-like efficacy in addressing specific skin concerns such as ageing, acne, hyperpigmentation, and sensitive skin. Cosmeceuticals bridge the gap between traditional cosmetics and pharmaceuticals, offering consumers advanced formulations with active ingredients backed by scientific research and clinical evidence. This trend is fueled by rising awareness of skincare science and a desire for more effective solutions to achieve desired skin outcomes. Companies are also strategizing by engaging in partnerships, mergers, and acquisitions, which are instrumental in ensuring their sustainability in the market and retaining their competitive advantage
Key Target Audience
Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries