Cosmeceuticals Market (By Product: Skin Care, Hair Care, Injectable, Others; By Packaging Material: Glass, Plastic, Metal, Others; By Ingredient: Anti-Oxidants, Sunscreens, Botanicals, Peptides & Proteins, Exfoliants, Moisturizers, Retinoids; By Distribution Channel: Online Platforms, Supermarkets and Specialty Stores)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

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.

Key Takeaways:

• Asia Pacific cosmeceuticals market size was valued at USD 19.5 billion in 2021.
• By product, the skin care segment has accounted for 62.4% of revenue share in 2021.
• The hair care segment held a revenue share of over 19.6% in 2021.
• By distribution channel, the supermarkets and specialty stores segment has contributed 58% revenue share in 2021.
• Europe held the highest revenue share of over 34.4% in 2021.

The market is anticipated to expand owing to the rising consciousness of the consumers about their physical appearance. The onset of cosmeceuticals has reformed the cosmetic and personal care industry. These products, unlike the makeup products, can resolve the origin of the imperfections rather than just covering them. This quality has resulted in a tremendous rise in product demand and has increased its share in the cosmetic and personal care industry.

The onset of cosmeceuticals has reformed the cosmetic and personal care industry. These products, unlike the makeup products have the ability to resolve the origin of the imperfections rather than just covering them.

This quality has resulted into a tremendous rise in the demand for the product and increased its share in the cosmetic and personal care industry. Additionally, there has been a remarkable rise in the demand for organic and natural commodities due to awareness regarding harmful side effects of the synthetic elements in these cosmetic products. Manufacturers are seen taking advantage of this trend.

Furthermore, it has been observed that the demand is high among the people of age group 30-45. Over the past decades, decreasing mortality rate has given rise to the aging population all over the globe. People living longer and wanting to retain their youthful appearance is positively impacting the market growth globally. Demand for anti-aging products in order to prevent hair damage, age spots, uneven skin tone, dry skin, and wrinkles is on the rise.

The skin care category dominated the cosmeceutical market with a share of 43.3% in 2018. Exposure to harmful ultraviolet radiations can cause premature skin-aging or can even result in skin cancer. This awareness has increased consumer’s focus on protecting their skin by using preventive skincare products. Moreover, demand for multifunctional product is expected to fuel the growth of sun-care cosmetic products in the forecast period. Hair Care is also expected to witness a considerable growth owing to an increase in the demand for products such as hair oil, hair color, shampoo, and conditioner.

Europe held the largest share of 34.4% in 2021. Moreover, the major countries in this region have the largest population of people suffering from dry skin, considering their weather conditions. This is likely to spur the demand for beneficial and multifunctional skin care cosmetic products. Asia Pacific is expected to witness the highest growth among other regions. The market in this region is gaining traction due to widely expanding developing economies.

Report Scope of the Cosmeceuticals Market

Product Type Insights

The product type segment of the cosmeceutical market is classified as skincare, haircare, and oral care. The skincare category dominated the market with a share of 43.3% in 2018. Exposure to harmful ultraviolet radiation can cause premature skin aging or can even result in skin cancer. This awareness has increased the consumer’s focus on protecting their skin by using preventive skincare products. Moreover, the demand for multifunctional products is expected to fuel the growth of sun-care cosmetic products in the forecast period. For instance, BB creams can also function as sunblock creams, apart from a make-up serum and moisturizer. Products like these are becoming widely popular due to their convenience, driving the skincare category in this segment.

Haircare is expected to witness considerable growth in the future owing to an increase in the demand for products such as hair oil, hair color, shampoo, and conditioner. Benefits provided by shampoos such as the removal of dandruff, dirt, and environmental pollutants are making it a popular daily use product. Also, eradication of the unwanted build-up without flaking out much sebum to make the hair unmanageable drives the consumers to buy branded hair care products.

 Distribution Channel Insights

This segment comprises supermarkets and specialty stores, and an online platforms. The supermarkets and specialty stores segment held the largest market share in 2021. This is attributed to the aggressive promotions and various marketing strategies of the distributors and manufacturers in the specialty stores, such as offers on bulk purchases. Increasing disposable income in the developing countries of Asia Pacific is resulting in the consumer’s preference for bulk purchases at the supermarkets.

The online distribution channel is anticipated to witness significant growth over the forecast period owing to technology advancements and rising adoption of the technology among consumers. Apart from the key players of the market, the popular e-commerce platforms such as Amazon are encouraged to gain traction by selling these cosmetic products in certain areas having comparatively fewer specialty stores. This indirectly is increasing the sales of the products through the online platform. Moreover, discounts that are available online are comparatively more than that in the stores, thereby attracting the consumers and increasing product sales.

Regional Insights

Europe held the largest share of 34.4% in 2021. The region continues to be the leading market owing to the obligation towards looking younger among the population of countries such as Germany, the U.K., Netherlands, and France. Moreover, these countries have the largest population of people suffering from dry skin, considering their weather conditions. This is likely to spur the demand for beneficial and multifunctional skincare cosmetic products. Moreover, higher spending capacity in the region for better quality products is expected to positively impact market growth.

The Asia Pacific is expected to witness the highest growth among other regions. The market in this region is gaining traction due to widely expanding developing economies. This has successfully paved the way for the manufacturers to open their branches in the highly populated countries in this region. The popularity of e-commerce or e-tailing in the region has helped the people reach out to better quality brands of these products. Besides, improving living standards in countries such as India, China, and Russia are predicted to drive the market in this region.

Some of the prominent players in the Cosmeceuticals Market include:

• Johnson and Johnson
• L'Oreal
• Procter and gamble
• Unilever
• Estee Lauder
• Avon

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Cosmeceuticals market

By Product

• Skin Care
• Anti-aging
• Sun Protection
• Skin Whitening
• Anti-Acne
• Professional Skincare
• Others
• Hair Care
• Hair Growth
• Anti-Dandruff
• Others
• Injectable
• Botox
• Dermal Fillers
• Other
• Others
• Lip Care
• Tooth Whitening
• Anti-Cellulite/Body Slimming Preparations
• Others

By Packaging Material

• Glass
• Plastic
• Metal
• Others

By Ingredient

• Anti-Oxidants
• Sunscreens
• Botanicals
• Peptides & Proteins
• Exfoliants
• Moisturizers
• Retinoids

By Distribution Channel

• Online Platforms
• Supermarkets and Specialty Stores

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Points Covered in Cosmeceuticals Market Study:

• Growth of Cosmeceuticals in 2022
• Market Estimates and Forecasts (2017-2030)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Cosmeceuticals and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Cosmeceuticals Consumption Analysis
•  Cosmeceuticals Production Analysis
•  Cosmeceuticals and Management