As stated in our extensive report; providing insights on Key Drivers, Key Restraints, and Segments (i.e.,Product Type, Distribution Channel, and Region); the Global Cosmeceuticals Market accounted for USD 49.1 Billion in the year 2021.
“Key Factors Likely to Drive Growth of Cosmeceuticals Market”
Cosmeceuticals are items that have both aesthetic and medicinal capabilities and are meant to improve the health & appearance of the skin. Cosmetic compositions combining bioactive elements for medical use are known as medical cosmetics. They encompass a wide range of personal care products. These are accessible commercially as either prescription or over-the-counter medications. These products are similar to cosmetics that are applied topically as creams or lotions, but they contain an active substance that affects the functioning of skin cells. Antioxidants, Retinoids, Exfoliants, Peptides & Proteins, and Plant Extracts are all common cosmeceutical constituents that are becoming consumer favorites.
Growing consumer awareness of appearance, the shift from synthetic personal care products to organic products, demand for natural/organic products, rising disposable income in emerging nations, and the availability of technologically advanced & user-friendly cosmetic products are all boosting the market's expansion at a steady rate. Market expansion is expected to be limited by fraudulent or deceptive marketing methods wherein false claims are made to draw consumers’ attention.
Regional Outlook of Cosmeceuticals Market: Asia Pacific is the Most Potential
Asia Pacific holds the major share in the Cosmeceuticals Market in 2021, owing to the rapid increase in population in this region which, in turn, provides a large base of consumers. This population growth is leading to a strain on the resources of these countries, causing unhealthy lifestyles resulting in skin and hair disorders. This is in fact providing an impetus for the growth of the Cosmeceuticals Market as people is now also becoming aware and conscious of various skin care and hair care products.
Some of the key players in the Global CosmeceuticalsMarketinclude-Johnson & Johnson, Procter & Gamble, Sabinsa Corporation, L’Oréal, Allergan, AVON, Estee Lauder, Unilever, Beiersdorf, Croda International PLC, and others.