The Cosmeceutical Market size was valued USD 56.80 billion in 2022 and is expected to reach USD 114.34 billion by 2030 and grow at a CAGR of 8.9% over the forecast period of 2023-2030.
Cosmetic formulas with bioactive components that are well-known for their therapeutic uses are called cosmeceuticals. The rise in the prevalence of skin disorders globally and dermatologists' preference for prescribing these products over alternative treatments are expected to fuel the demand for these products and sustain the growth of the cosmeceuticals market.
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In 2022, a report released by MDPI stated that 40% of all dermatological prescriptions worldwide were for cosmeceuticals. The market is anticipated to grow as a result of the notable increase in prescriptions for cosmeceuticals and the rising number of companies offering essential products for these conditions.
DRIVERS
Raising the consciousness of consumers
Customers are looking for skincare products that provide targeted solutions for particular skin concerns as they are growing more informed about the benefits of skincare ingredients. Cosmetic buyers give careful thought to a number of marketing mix factors, such as product quality, brand, price, advertising, availability, prior purchase history, and packaging.
Inventiveness and Advanced Research
The cosmeceuticals market is always changing as a result of businesses making significant investments in R&D to produce novel and inventive goods that provide more precise and efficient treatments for particular skin conditions.
RESTRAIN
High Cost of Products
The rising price of goods from many well-known brands has resulted in the original products being counterfeited. There exist lower-quality alternatives bearing the same brand name in the market. As a result, consumers may become less interested in reliable brands, and the reputation of the company may suffer.
OPPORTUNITY
Growth in Income in Developing Nations
The proliferation of cosmetic products has been made possible by rising incomes in emerging economies. Leading businesses in nations like India, China, Japan, Thailand, etc. have opened doors for the market's expansion by introducing new products.
CHALLENGES
Obstacles relating to regulations & Lack of standardization
The cosmeceuticals sector is governed by a complicated network of laws that differ by nation and area. These rules can be costly and time-consuming to follow, and they may make it harder for new businesses to get established.
The term "cosmeceutical" has no accepted definition, which can be confusing to customers and make it challenging to compare products.
High cost of research and development
In order to demonstrate the safety and effectiveness of cosmetics, a great deal of research and development is needed. This can be costly and time-consuming, which makes it harder for small businesses to compete with more well-known, bigger brands.
Impact of ongoing Recession
The cosmetics industry has experienced significant growth and international market expansion during the economic downturn. Compared to other products consumed during the economic downturn, it produces a different outcome. Despite the challenging economic conditions and declining per capita income, the demand for cosmetics is still rising. The manufacturers of cosmetics have faced numerous challenges as they have expanded into foreign markets, which are predicted to be lucrative in the future.
Due to additional disruptions to the supply chains for beauty products caused by Russia's invasion of Ukraine, manufacturers of cosmetics are facing shortages of paper, glass, and some essential oils and alcohols, which is driving up prices despite strong demand. Similar to the food industry, the $500 billion global cosmetics market is suffering from the war's aftermath since manufacturers use sunflower-seed oils and alcohol made from organic beets and grains to make cosmetics and perfumes, all important crops grown in Ukraine.
Based on Product Type
Skin Care
Anti-aging
Anti-acne
Sun Protection
Moisturizers
Other Skin Care Product Types
Hair Care
Shampoos and Conditioners
Hair Colorants and Dyes
Other Hair Care Product Types
Lip Care
Oral Care
Based on Distribution channel
Supermarkets and Specialty Stores
Online Platform
Based on ingredients
Sunscreens
Antioxidants
Hydroxy acids
Retinoids
Skin lightening agents
Botanicals
Peptides and Proteins
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North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The global market was dominated by Asia Pacific. The market's expansion can be attributed to the players' growing emphasis on strategic alliances, their attention being drawn to new product launches, and their increasing investments in digital infrastructure to enhance product distribution and appeal. Additionally, one of the main reasons propelling the growth of the Asia-Pacific market is the growing population and increased public awareness of these products.
North America held the second-largest market share worldwide. The region's growing use of cutting-edge dermatology products and the prevalence of a sizable patient population with dermatological conditions like eczema and melanoma are both credited with this growth. Furthermore, it is projected that a rise in dermatological procedures, including non-surgical cosmetic procedures, will increase demand for cosmeceutical products. This element will support the expansion of the local markets.
The growing popularity of innovative cosmeceutical products and the escalating incidence of skin disorders like acne have resulted in Europe holding a substantial portion of the market. Also, it is anticipated that the expansion of the distribution networks of the major market players in the region will support the growth of the regional market by meeting the growing demand for their products.
Some of the major key players of cosmeceuticals market are Johnson & Johnson, Avon Products Inc, Croda International plc , Procter & Gamble, Estée Lauder Inc, Beiersdorf , L’Oréal Group, Shiseido, Allergan and other players.
A.S Watson Group and Shiseido announced a partnership to launch a new skincare brand that offers recommendations based on the unique needs of each customer.
Seed Phytonutrients is a new skincare product line that L’Oreal announced. The products are aimed at consumers who care about the environment and are made with organic ingredients and sustainable packaging.
| Report Attributes | Details |
| Market Size in 2022 | US$ 56.80 Billion |
| Market Size by 2030 | US$ 114.34 Billion |
| CAGR | CAGR of 8.9 % From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product type (Skin Care, Hair Care, Lip Care, Oral Care) • By Distribution channel(Supermarkets and Specialty Stores, Online Platform) • By ingredients(Sunscreens, Antioxidants, Hydroxy acids, Retinoids, Skin lightening agents, Botanicals, Peptides and Proteins) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Johnson & Johnson, Avon Products Inc, Croda International plc , Procter & Gamble, Estée Lauder Inc, Beiersdorf , L’Oréal Group, Shiseido, Allergan |
| Key Drivers | • Raising the consciousness of consumers • Inventiveness and Advanced Research |
| Market Opportunities | • Growth in Income in Developing Nations |
Ans: The cosmeceutical market size was valued USD 56.80 billion in 2022 and is expected to reach USD 114.34 billion by 2030.
Ans: The cosmeceuticals market will register growth rate of and grow at a CAGR of 8.9% over the forecast period of 2023-2030.
Ans: Cosmeceutical products contain both cosmetic and medicinal properties, are intended to have a beneficial effect on skin health and beauty, and are similar to cosmetics.
Ans: Cosmetics temporarily treat the skin, while cosmeceuticals treat the root cause of the skin concern, giving you permanent results.
Ans: Yes, cosmeceuticals have pharmaceutical benefits.
TABLE OF CONTENT
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Cosmeceuticals Market Segmentation by Product Type
8.1Skin Care
8.1.1Anti-aging
8.1.2Anti-acne
8.1.3Sun Protection
8.1.4Moisturizers
8.1.5Other Skin Care Product Types
8.2Hair Care
8.2.1Shampoos and Conditioners
8.2.2Hair Colorants and Dyes
8.2.3Other Hair Care Product Types
8.3 Lip Care
8.4 Oral Care
9. Cosmeceuticals Market Segmentation by Distribution channel
9.1 Supermarkets and Specialty Stores
9.2 Online Platform
10.Cosmeceuticals Market Segmentation by ingredients
10.1Sunscreens
10.2Antioxidants
10.3Hydroxy acids
10.4Retinoids
10.5Skin lightening agents
10.6Botanicals
10.7Peptides and Proteins
11.Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Cosmeceuticals Market by Country
11.2.2 North America Cosmeceuticals Market by Product Type
11.2.3 North America Cosmeceuticals Market by distribution channel
11.2.4 North America Cosmeceuticals Market by ingredients
11.2.4 USA
11.2.4.1 USA Cosmeceuticals Market by Product type
11.2.4.2 USA Cosmeceuticals Market by distribution channel
11.2.5.3 USA Cosmeceuticals Market by ingredients
11.2.5 Canada
11.2.5.1 Canada Cosmeceuticals Market by product type
11.2.5.2 Canada Cosmeceuticals Market by distribution channel
11.2.6.3 Canada Cosmeceuticals Market by ingredients
11.2.6 Mexico
11.2.6.1 Mexico cosmeceuticals Market by product type
11.2.6.2 Mexico Cosmeceuticals Market by distribution channel
11.2.7.3 Mexico Cosmeceuticals Market by ingredients
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Cosmeceuticals Market by Country
11.3.1.2 Eastern Europe Cosmeceuticals Market by product type
11.3.1.3 Eastern Europe Cosmeceuticals Market by distribution channel
11.3.1.4 Eastern Europe Cosmeceuticals Market by ingredients
11.3.1.4 Poland
11.3.1.4.1 Poland Cosmeceuticals Market by Product Type
11.3.1.4.2 Poland Cosmeceuticals Market by distribution channel
11.3.1.5.3 Poland Cosmeceuticals Market by ingredients
11.3.1.5 Romania
11.3.1.5.1 Romania Cosmeceuticals Market by Product Type
11.3.1.5.2 Romania Cosmeceuticals Market by distribution channel
11.3.1.6.4 Romania Cosmeceuticals Market by ingredients
11.3.1.6 Hungary
11.3.1.6.1 Hungary Cosmeceuticals Market by Product Type
11.3.1.6.2 Hungary Cosmeceuticals Market by distribution channel
11.3.1.6.3 Hungary Cosmeceuticals Market by ingredients
11.3.1.7 Turkey
11.3.1.7.1 Turkey Cosmeceuticals by product type
11.3.1.7.2 Turkey Cosmeceuticals Market by distribution channel
11.3.1.7.3 Turkey Cosmeceuticals Market by ingredients
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Cosmeceuticals Market by product type
11.3.1.8.2 Rest of Eastern Europe Cosmeceuticals Market by distribution channel
11.3.1.8.3 Rest of Eastern Europe Cosmeceuticals Market by ingredients
11.3.2 Western Europe
11.3.2.1 Western Europe Cosmeceuticals Market by Country
11.3.2.2 Western Europe Cosmeceuticals Market by product type
11.3.2.3 Western Europe Cosmeceuticals Market by distribution channel
11.3.2.3 Western Europe Cosmeceuticals Market by ingredients
11.3.2.4 Germany
11.3.2.4.1 Germany Cosmeceuticals Market by product type
11.3.2.4.2 Germany Cosmeceuticals Market by distribution channel
11.3.2.4.3 Germany Cosmeceuticals Market by ingredients
11.3.2.5 France
11.3.2.5.1 France Cosmeceuticals Market by product type
11.3.2.5.2 France Cosmeceuticals Market by distribution channel
11.3.2.5.3 France Cosmeceuticals Market by ingredients
11.3.2.6 UK
11.3.2.6.1 UK Cosmeceuticals Market by Product Type
11.3.2.6.2 UK Cosmeceuticals Market by distribution channel
11.3.2.6.3 UK Cosmeceuticals Market by ingredients
11.3.2.7 Italy
11.3.2.7.1 Italy Cosmeceuticals Market by Product Type
11.3.2.7.2 Italy Cosmeceuticals Market by distribution channel
11.3.2.7.3 Italy Cosmeceuticals Market by ingredients
11.3.2.8 Spain
11.3.2.8.1 Spain Cosmeceuticals Market by Product Type
11.3.2.8.2 Spain Cosmeceuticals Market by distribution channel
11.3.2.8.3 Spain Cosmeceuticals Market by ingredients
11.3.2.9 Netherlands
11.3.2.9.1 Netherlands Cosmeceuticals Market by Product Type
11.3.2.9.2 Netherlands Cosmeceuticals Market by distribution channel
11.3.2.9.3 Netherlands Cosmeceuticals Market by ingredients
11.3.2.10 Switzerland
11.3.2.10.1 Switzerland Cosmeceuticals Market by Product Type
11.3.2.10.2 Switzerland Cosmeceuticals Market by distribution channel
11.3.2.10.3 Switzerland Cosmeceuticals Market by ingredients
11.3.2.11 Austria
11.3.2.11.1 Austria Cosmeceuticals Market by Product Type
11.3.2.11.2 Austria Cosmeceuticals Market by distribution channel
11.3.2.11.4 Austria Cosmeceuticals Market by ingredients
11.3.2.12 Rest of Western Europe
11.3.2.12.1 Rest of Western Europe Cosmeceuticals Market by Product Type
11.3.2.12.2 Rest of Western Europe Cosmeceuticals Market by distribution channel
11.3.2.12.3 Rest of Western Europe Cosmeceuticals Market by ingredients
11.4 Asia-Pacific
11.4.1 Asia Pacific Cosmeceuticals Market by Country
11.4.2 Asia Pacific Cosmeceuticals Market by Product Type
11.4.3 Asia Pacific Cosmeceuticals Market by distribution channel
11.4.4 Asia-Pacific Blood Transfusion Diagnostics Market by Test Type
11.4.4 China
11.4.4.1 China Cosmeceuticals Market by product type
11.4.4.2 China Cosmeceuticals Market by distribution channel
11.4.5.3 China Cosmeceuticals Market by ingredients
11.4.5 India
11.4.5.1 India Cosmeceuticals Market by Product Type
11.4.5.2 India Cosmeceuticals Market by distribution channel
11.4.6.3 India Cosmeceuticals Market by ingredients
11.4.6 Japan
11.4.6.1 Japan Cosmeceuticals Market by product type
11.4.6.2 Japan Cosmeceuticals Market by distribution channel
11.4.7.3 Japan Cosmeceuticals Market by ingredients
11.4.7 South Korea
11.4.7.1 South Korea Cosmeceuticals Market by product type
11.4.7.2 South Korea Cosmeceuticals Market by distribution channel
11.4.8.3 South Korea Cosmeceuticals Market by ingredients
11.4.8 Vietnam
11.4.8.1 Vietnam Cosmeceuticals Market by product type
11.4.8.2 Vietnam Cosmeceuticals Market by distribution channel
11.4.9.3 Vietnam Cosmeceuticals Market by ingredients
11.4.9 Singapore
11.4.9.1 Singapore Cosmeceuticals Market by product type
11.4.9.2 Singapore Cosmeceuticals Market by distribution channel
11.4.10.3 Singapore Cosmeceuticals Market by ingredients
11.4.10 Australia
11.4.10.1 Australia Cosmeceuticals Market by Product type
11.4.10.2 Australia Cosmeceuticals Market by distribution channel
11.4.11.3 Australia Cosmeceuticals Market by ingredients
11.4.11 Rest of Asia-Pacific
11.4.11.1 Rest of Asia-Pacific Cosmeceuticals Market by product type
11.4.11.2 Rest of Asia-Pacific Cosmeceuticals Market by distribution channel
11.4.12.3 Rest of Asia-Pacific Cosmeceuticals Market by ingredients
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Cosmeceuticals Market by Country
11.5.1.2 Middle East Cosmeceuticals Market by product type
11.5.1.3 Middle East Cosmeceuticals Market by distribution channel
11.5.1.4 Middle East Cosmeceuticals Market by ingredients
11.5.1.4 UAE
11.5.1.4.1 UAE Cosmeceuticals Market by product type
11.5.1.4.2 UAE Cosmeceuticals Market by distribution channel
11.5.1.5.3 UAE Cosmeceuticals Market by ingredients
11.5.1.5 Egypt
11.5.1.5.1 Egypt Cosmeceuticals Market by product type
11.5.1.5.2 Egypt Cosmeceuticals Market by distribution channel
11.5.1.6.3 Egypt Cosmeceuticals Market by ingredients
11.5.1.6 Saudi Arabia
11.5.1.6.1 Saudi Arabia Cosmeceuticals Market by product type
11.5.1.6.2 Saudi Arabia Cosmeceuticals Market by distribution channel
11.5.1.7.3 Saudi Arabia Cosmeceuticals Market by ingredients
11.5.1.7 Qatar
11.5.1.7.1 Qatar Cosmeceuticals Market by product type
11.5.1.7.2 Qatar Cosmeceuticals Market by distribution channel
11.5.1.8.3 Qatar Cosmeceuticals Market by ingredients
11.5.1.8 Rest of Middle East
11.5.1.8.1 Rest of Middle East Cosmeceuticals Market by product type
11.5.1.8.2 Rest of Middle East Cosmeceuticals Market by distribution channel
11.5.1.9.3 Rest of Middle East Cosmeceutical Market by ingredients
11.5.2 Africa
11.5.2.1 Africa Cosmeceuticals Market by Country
11.5.2.2 Africa Cosmeceuticals Market by product type
11.5.2.3 Africa Cosmeceuticals Market by distribution channel
11.5.2.3 Africa Cosmeceuticals Market by ingredients
11.5.2.4 Nigeria
11.5.2.4.1 Nigeria Cosmeceuticals Market by Product Type
11.5.2.4.2 Nigeria Cosmeceuticals Market by distribution channel
11.5.2.4.3 Nigeria Cosmeceuticals Market by ingredients
11.5.2.5 South Africa
11.5.2.5.1 South Africa Cosmeceuticals Market by Product Type
11.5.2.5.2 South Africa Cosmeceuticals Market by distribution channel
11.5.2.5.3 South Africa Cosmeceuticals Market by ingredients
11.5.2.6 Rest of Africa
11.5.2.6.1 Rest of Africa Cosmeceuticals Market by Product Type
11.5.2.6.2 Rest of Africa Cosmeceuticals Market by distribution channel
11.5.2.6.3 Rest of Africa Cosmeceuticals Market by ingredients
11.6 Latin America
11.6.1 Latin America Cosmeceuticals Market by Country
11.6.2 Latin America Cosmeceuticals Market by Product Type
11.6.3 Latin America Cosmeceuticals Market by distribution channel
11.6.4 Latin America Cosmeceuticals Market by ingredients
11.6.4 Brazil
11.6.4.1 Brazil Cosmeceuticals Market by Product Type
11.6.4.2 Brazil Cosmeceuticals Market by distribution channel
11.6.4.3 Brazil Cosmeceuticals Market by ingredients
11.6.5 Argentina
11.6.5.1 Argentina Cosmeceuticals Market by Product Type
11.6.5.2 Argentina Cosmeceuticals Market by distribution channel
11.6.6.3 Argentina Cosmeceuticals by ingredients
11.6.6 Colombia
11.6.6.1 Colombia Cosmeceuticals Market by Product Type
11.6.6.2 Colombia Cosmeceuticals Market by distribution channel
11.6.7.3 Colombia Cosmeceuticals Market by ingredients
11.6.7 Rest of Latin America
11.6.7.1 Rest of Latin America Cosmeceuticals Market by Product Type
11.6.7.2 Rest of Latin America Cosmeceuticals Market by distribution channel
11.6.8.3 Rest of Latin America Cosmeceuticals by ingredients
12. Company Profile
12.1 Johnson and Johnson
12.1.1 Company Overview
12.1.2 Financials
12.1.3 Product/Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 L'Oreal
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Product/Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Procter and gamble
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Product/Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Unilever
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Product/Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 Estee Lauder
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Product/Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Avon
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Product/Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Croda International plc
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Product/Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Estée Lauder Inc
12.8.1 Company Overview
12.8.2 Financials
12.8.3 Product/Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Beiersdorf
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Product/ Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 ELEMENTIS PLC.
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Product/Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Bench marking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. USE Cases and Best Practices
15. Conclusion
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