Global Cosmeceuticals Market was valued at USD 55.2 billion in 2021 and is expected to reach USD 87.5 billion by the year 2028, at a CAGR of 6.8%.
Dermatologist Dr. Albert Kligman, for the first time in 1984 used the term cosmeceutical. He derived it by combining the words cosmetic and pharmaceutical. Cosmeceuticals are products that have both cosmetic and therapeutic effects and are considered to have a beneficial effect on skin, hair, and oral health. They are applied topically as creams or lotions, similar to cosmetics, but include active chemicals that enhance skin cell activity. In some situations, their activity is restricted to the skin's surface (for example, exfoliants), whilst others can penetrate deeper depths, boosting or restricting natural skin processes. Cosmeceuticals are accessible without a prescription and are often used as part of a normal skincare routine to assist enhance skin tone and texture, pigmentation, and fine wrinkles. Cosmeceuticals are the fastest-growing segment of the personal care industry and the market for personal care is increasing enormously.
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The Global Cosmeceuticals Market report provides an in-depth overview of product specifications, technologies and product types, and production analysis considering key factors such as revenue, cost, and gross margin. Competitor analysis is one of the most important aspects of a market research report that helps companies determine their strategies compared to their competitors. Cosmeceuticals market research report identifies and analyzes emerging trends along with key drivers, inhibitors, challenges and opportunities in the market. In this era of globalization, as the whole world is a market, companies are trying to adopt global market research reports.
Global Cosmeceuticals Market: Segmentation
The Global Cosmeceuticals market is segmented on the basis type, application and region. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
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Type
- Anti-Oxidants
- Botanicals
- Exfoliants
- Others
Application
- Pharmacy Drug Stores
- Supermarkets Hypermarkets
- Online
- Others
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
- Middle East Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of SA)
Key Players in Cosmeceuticals Market
- Johnson Johnson (US)
- Procter Gamble (US)
- Sabinsa Corporation (US)
- L'Oréal (France)
- Allergan (Ireland)
- AVON (UK)
- Estee Lauder (US)
- Unilever (UK)
- Beiersdorf (Germany)
- Croda International Plc. (UK)
- BASF SE (Germany)
- Bayer AG (Germany)
- Symrise AG (Germany) and other major players.
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COVID-19 Impact on Cosmeceuticals Market:
The COVID-19 pandemic has adversely affected the personal care and beauty industry. COVID-19 protocols such as work from home, and social distancing made wearing makeup less important. Nationwide lockdowns were imposed by countries to curb the spread of the virus which resulted in the shutdown of various manufacturing utilities due to the unavailability of workers. In addition, the closure of physical stores also resulted in a decline in sales. Restrictions on non-essential trading activities created a shortage of raw materials required for the production of cosmeceuticals.
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