SEATTLE, June 04, 2021, (MEDGADGET) — Cosmeceuticals Market – Insights
Cosmeceuticals are a combination of cosmetic and pharmaceutical products. The term ‘cosmeceuticals’ is not recognized by the U.S. Food and Drug Administration (FDA). Cosmeceuticals are used to enhance aesthetic appeal with the help of active potential ingredients in them. The efficacy of cosmeceuticals is backed by clinical indication. Although these products contain biologically active ingredients that have medicinal or drug-like properties, they are marketed as cosmetics. For instance, anti-wrinkle skin creams include ingredients such as alpha lipoic acid and dimethylaminoethanol and creams containing cellular replacement serum claim to have anti-aging properties. A cosmetic product helps to maintain skin with temporary results. These products may contain active ingredients, even in negligible quantity. However, cosmeceuticals contain high amount of various active ingredients and are considered as results-focused products. Cosmeceuticals are restricted to professional skin care vendors where a consultation can be provided.
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The cosmeceuticals market has various products such as lip care, skincare, tooth whitening, hair care, injectable, and others. The skincare segment is expected to account for the largest market share, followed by hair care segment. The growth of the skincare segment is primarily driven by increasing demand for anti-ageing products.
Cosmeceuticals Market: Drivers
Increasing focus on enhancing aesthetic appeal is a major factor boosting growth of the cosmeceuticals market. Moreover, increasing urban population and growing consumer awareness regarding the advantages of cosmeceutical products is also expected to boost growth of the market. Increasing number of people of middle age and baby boomer generation is focused on improving aesthetic appeal and grooming standards. Moreover, factors such as increasing development of novel active ingredients and integration of advanced technologies such as nanotechnology and plant stem cell technology are also expected to contribute to growth of the market.
Moreover, increasing launch of new startups focused on R&D of cosmeceuticals is also expected to boost growth of the market. For instance, in September 2019, a new startup, Yuva Biosciences, was launched with the intent of developing cosmeceuticals, pharmaceuticals, and science-based cosmetics with medicinal properties. In November 2018, Khiron, a Canada-based skin-care and body-care manufacturer, announced the commercialization of its CBD cosmeceutical brand, Kuida in Peru.
The Federal Trade Commission (FTC) works to scrutinize any advertised claims of cosmeceuticals. Key players can focus on developing products with non-irritating ingredients and that offer protection to skin from radiation.
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Cosmeceuticals Market: Restraints
However, ingredients used in cosmeceuticals may have harmful effects, which is expected to hinder growth of the market.
Cosmeceuticals Market: Regional Analysis
On the basis of region, the global cosmeceuticals market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold dominant position in the market, followed by Europe. This is owing to developed healthcare infrastructure and high per capita income in the U.S. The market in Asia Pacific is majorly driven by increasing middle-aged population and growing disposable income. Japan is expected to account for the largest market, followed by China, in Asia Pacific market.
Cosmeceuticals Market Taxonomy
On the basis of product type, the cosmeceuticals market is classified into:
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- Skin Care
- Hair Care
- Injectable
- Cosmeceuticals Products
On the basis of ingredient, the cosmeceuticals market is classified into:
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- Antioxidants
- Proteins
- Peptides
- Botanicals
- Moisturizers
On the basis of region, the cosmeceuticals market is classified into:
-
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
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Cosmeceuticals Market: Competitive Landscape
Key players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in August 2019, JM Financial Private Equity announced the purchase of significant minority stake in nutraceutical firm Innovcare Lifesciences Pvt. Ltd. Key players in the market are also focused on product development and launch in order to expand their product portfolio. For instance, in March 2019, Biopelle, Inc., developer and distributor of clinically proven, professional skincare products, announced the launch of its skin-care line, Emepelle, for Estrogen Deficient Skin (EDS).
Key players operating in the global cosmeceuticals market include, Johnson & Johnson, Shiseido, Elementis, Unilever, Croda International Plc., Bayer, Procter & Gamble, Beiersdor, L’Oréal, and Avon.
Table of Content
Global Cosmeceuticals Market Research Report
Section 1: Global Cosmeceuticals Industry Overview
Section 2: Global Economic Impact on Cosmeceuticals Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Cosmeceuticals Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Cosmeceuticals Market Forecast
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