Cosmeceuticals Market Size Share Trends Forecast 2026


Posted August 21, 2020 by SANJAYCMI

Cosmeceuticals Market Report- 2020 Analyses competitive environment such as key players, future trends, growths, challenges and acquisitions in the market.
 
The Cosmeceuticals Market includes a large category of cosmetic products that have drug-like benefits. Varity of cosmeceuticals products available in the market include lip care, skincare, tooth whitening, hair care, injectable and others. The skincare segment holds a prominent share and is followed by hair care segment. In the skincare segment, anti-ageing products are most popular and hence, gross maximum revenue.

Cosmetics and pharmaceuticals together make cosmeceuticals. A cosmeceutical has the active potential ingredient to bring about visible changes to the skin, and these changes are backed by clinical indication. Cosmeceutical products are marketed as cosmetics, though they comprise biologically active ingredients that provide medicinal or drug-like properties. For example, anti-wrinkle skin creams includes ingredients such as alpha lipoic acid and dimethylaminoethanol and creams containing cellular replacement serum that claim to have anti-aging properties. The cosmetic industry coined the term, though the US FDA does not recognize the term cosmeceuticals. A cosmetic product will effectively maintain skin quality by providing somewhat temporary results. It may contain active ingredients, though concentration of these actives is usually negligible. A cosmeceutical product differs from such cosmetic products, as it has a high concentration of active ingredients and usually comprises various active ingredients. This formulation can bring about visible changes to the skin making it a results-focused product. Cosmeceutical products are restricted to professional skin care vendors where a consultation can be provided.

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Cosmeceuticals Market Outlook: Developed Regions Still Offer Lucrative Growth Opportunities

The global cosmeceuticals market is expected to witness strong growth over the forecast period, owing to rising consumer awareness regarding the benefits of cosmeceuticals. Among all regions, North America is projected to contribute the highest market share, followed by Europe throughout the forecast period. The well-developed healthcare infrastructure and high per capita income in the U.S., drives growth of the cosmeceuticals market size. The Asia Pacific market in cosmeceuticals is projected witness highest growth during the forecast period, due to large middle-aged population (the largest demographic group in the market) and increasing disposable income in this region. In Asia Pacific region, Japan is expected to contribute largest market share and to exhibit with highest growth, followed by China.

Increasing inclination towards maintaining personal aesthetics and increasing number of urban population together with rising consumer awareness related to benefits of cosmeceuticals

Integration of advanced technologies such as nanotechnology, plant stem cell technology, and the development of new active ingredients are spurring growth of the global cosmeceuticals market. Large middle age population and baby boomer generation are inclined towards maintaining their personal aesthetic appeal, in turn fueling growth of the global cosmeceuticals industry. Furthermore, development of new active ingredients will create opportunities for global market. A major factor that restraints growth of the cosmeceuticals market is growing consumer awareness related to harmful effects of ingredients used in cosmeceuticals.

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In cosmeceuticals, only Federal Trade Commission (FTC) works to scrutinize any advertised claims of pharmaceutical products or scientific validity. Opportunities in cosmeceutical market development are those that provide protection of skin from radiation and also oxidant damage by non-irritating ingredients which improve skin appearance.

Key players operating in the global cosmeceutical market include Croda International Plc, Bayer, Procter & Gamble, Beiersdor, Johnson & Johnson, Shiseido, Elementis, Unilever, L'Oréal, and Avon.

Key Developments

Strategic acquisitions and investments by key players aimed at expanding their product portfolio and market position are expected to drive growth of the market globally. For instance, in August 2019, JM Financial Private Equity announced the purchase of significant minority stake in nutraceutical firm Innovcare Lifesciences Pvt. Ltd. The investment is aimed at augmenting Innovcare’s current product portfolio and expansion into new therapeutic areas.

Technological innovations and entry of new market players is also creating growth opportunities in the cosmeceutical 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.

Moreover, in November 2018, Khiron, a Canada-based skin-care and body-care manufacturer, announced the commercialization of its CBD cosmeceutical brand, Kuida in Peru.

Key players in the market are also focused on product developments and launches in order to expand their market presence and 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).

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Categories Health , Marketing , Research
Tags cosmeceuticals market , cosmeceuticals market share , cosmeceuticals market size
Last Updated August 21, 2020