Pune, India, Nov. 01, 2021 (GLOBE NEWSWIRE) -- The global cosmeceuticals market size is expected to experience significant growth by reaching USD 58.34 billion by 2028 while exhibiting a CAGR of 9.2% between 2021 and 2028. This information is published by Fortune Business Insights in its report, titled “Cosmeceuticals Market, 2021-2028.” The report further mentions that the market stood at USD 29.84 billion in 2020. The increasing presence of geriatric population and the rising consumer awareness regarding the adoption of natural anti-aging products is anticipated to favor the product’s demand worldwide. For instance, according to the data by the United Nations, the total number of geriatric people worldwide is expected to reach 2.1 billion.
Market Witnessed a Negative Growth Rate of -26.4% in 2020; Shutdown of Stores Affected the Sales
According to various published articles, an overall decrease of 35% in sales was witnessed across the cosmetic sector in the U. S. This is due to the novel coronavirus pandemic that led to the closure of several stores as the lockdown was announced across several countries to curb the spread of the disease. This further hampered the sales prospect of the stores and several manufacturers that resulted in the market experiencing a negative growth rate of -26.4% in 2020.
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What does the Report Include?
The global market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market between 2021 and 2028. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 9.2% |
| 2028 Value Projection | USD 58.34 Billion |
| Base Year | 2020 |
| Market Size in 2021 | USD 31.51 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 120 |
| Segments covered | Product, Distribution Channel and Geography |
| Growth Drivers | Product Sales Severely Impacted by Lockdown Measures Imposed During Pandemic |
| Ageing Population and Growing Consumer Awareness to Propel Market Growth | |
| Adoption and Affordability of Products in Emerging Economies to Aid Growth |
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Increasing Adoption of Natural Products to Propel Market Growth
The increasing stress levels owing to hectic lifestyle and untimely consumption of meals is leading to adverse health issues among the youth. According to the National Institutes of Health, 1 in million people between 13 and 30 years of age suffers from Werner syndrome that leads to greying of hair, wrinkled skin, and loss of hair. Therefore, the increasing incidence of premature aging is leading to high awareness among the young population to ensure optimum health. This is further leading to the surging demand for natural beauty products such as anti-aging cosmetics and serums that are anticipated to contribute to the growth of the global cosmeceuticals market growth in the forthcoming years.
REGIONAL INSIGHTS
Asia Pacific – The market in the region stood at USD 14.69 billion in 2020 and is expected to hold the highest position in the forthcoming years. This is attributable to the increasing awareness regarding the benefits of the cosmetics products such as anti-aging, hair care products, and skincare, etc. Moreover, the presence of a large youth population in countries such as India, China, and Japan is anticipated to drive the adoption of cosmeceuticals in the region. As per a report by the United Nations, around 700 million people residing in Asia-Pacific come under the youth bracket.
Europe – The market in the region is expected to experience significant growth in the forthcoming years. This is due to the increasing focus of the established manufacturers to introduce innovative cosmeceuticals to cater to the growing demand from countries such as the U.K., Germany, France, and Spain that favor regional growth between 2021 and 2028.
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Some of the companies that are operating in the market include:
• L’Oréal
• Beiersdorf Global
• Croda International Plc
• Allergan
• Avon
• BASF SE
• Estée Lauder Companies Inc.
• Shiseido Company, Limited
• Procter & Gamble
• Elementis
• Others
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Table of Content:
- Introduction
- Others Scope
- Market Segmentation
- Others Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview: Trends in Cosmeceuticals Market
- Snapshot of Active Ingredients Used in Cosmeceuticals
- New Product Launch
- Key Industry Developments - Mergers, Acquisitions, and Partnerships
- Global Cosmeceuticals Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Skin Care
- Anti Ageing
- Skin Whitening
- Sun Protection
- Professional Skincare
- Anti-Acne
- Others
- Hair Care
- Hair Growth
- Anti Dandruff
- Others
- Injectables
- Botox
- Dermal fillers
- Other Injectables
- Others
- Lip Care
- Tooth Whitening
- Anti Cellulite/Body Slimming Preparations
- Others
- Skin Care
- Market Analysis, Insights and Forecast – By Distribution Channels
- Pharmacy/Drug Stores
- Online stores
- Others
- Market Analysis, Insights and Forecast – By Geography
- North America
- Europe
- Asia pacific
- Rest of the World
- North America Cosmeceuticals Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Skin Care
- Anti Ageing
- Skin Whitening
- Sun Protection
- Professional Skincare
- Anti-Acne
- Others
- Hair Care
- Hair Growth
- Anti Dandruff
- Others
- Injectables
- Botox
- Dermal fillers
- Other Injectables
- Others
- Lip Care
- Tooth Whitening
- Anti Cellulite/Body Slimming Preparations
- Others
- Skin Care
- Market Analysis, Insights and Forecast – By Distribution Channels
- Pharmacy/Drug Stores
- Online stores
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
TOC Continued…..!!!
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