Cosmeceuticals Market Forecasts to 2028 - Global Analysis By Product Type (Injectable, Skin Care, Hair Care and Other Product Types), Distribution Channel (Online Stores, Pharmacy/Drug Stores and Other Distribution Channels), Ingredient (Retinoids, Sunscreens and Other Ingredients), Packaging Material and By Geography
Estimated Year Value (2022)
US $56.02 BN
Projected Year Value (2028)
US $101.44 BN
CAGR (2022 - 2028)
North America, Europe, Asia Pacific, South America, and Middle East & Africa
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa
Highest Growing Market
According to Stratistics MRC, the Global Cosmeceuticals Market is accounted for $56.02 billion in 2022 and is expected to reach $101.44 billion by 2028 growing at a CAGR of 10.4% during the forecast period. Cosmeceuticals are cosmetic formulations with bioactive chemicals that have been studied for their potential in medicine. The prevalence of skin problems is rising globally, and dermatologists are more likely to recommend these items than alternative forms of treatment, which is driving up demand for these goods. This is expected to promote the expansion of the cosmeceuticals industry, along with the introduction of e-commerce platforms by major market participants to meet the escalating demand for these goods.
According to World Bank data, in Japan, the population of 65 years old accounted for 26.59% in 2016, which increased to 28.7% in 2021. According to the survey conducted by American Society of Plastic Surgeons in 2021, Botox injections became the most popular non-invasive cosmetic procedure, with 4.4 million procedures performed in 2020.
High prevalence of skin and hair disorders
The rise in the incidence of skin and hair issues around the world is one of the major reasons anticipated to fuel the growth of the global cosmeceutical market over the forecast period. It is projected that the increased prevalence of skin and hair diseases will raise demand for cosmeceutical products and accelerates market expansion. The World Health Organisation (WHO) estimates that over 900 million people worldwide are affected by skin disorders, which are among the most prevalent illnesses affecting human health. Eczema, skin infections, and pruritus are the most prevalent skin illnesses in older individuals, which is fueling market expansion.
Presence of counterfeit products
The existence of counterfeit goods is one of the major factors anticipated to restrain the growth of the global cosmeceutical industry. For instance, despite the fact that few nations recognise cosmeceuticals as distinct legal entities, there is a lack of uniform regulation worldwide. This is especially true for developing nations like India and China, where there are numerous regulatory agencies and distinct laws regarding cosmetics. However, as people become more aware, there is a corresponding rise in the demand for cosmeceuticals.
High demand for multifunctional products
The industry is expanding quickly globally as a result of a wide variety of products that offer dual benefits including SPF content and anti-aging qualities in a single product. One of the most important factors consumers look for when choosing a product is products that offer multiple benefits. There is a surge in demand for multifunctional products globally as a result of premium cosmetic brands offering products (such as skin and hair care products) with active ingredients designed for sensitive skin or scalp.
Lack of awareness among people
Lack of public knowledge of cosmeceuticals and their benefits is another problem impeding the growth of the cosmeceutical market. Between cosmetics and pharmaceuticals, a new class of goods known as "cosmeceuticals" is designed to improve the health and appearance of skin. New products are being released, and this is raising people's awareness as well. However, a lack of knowledge about the dangers that cosmeceuticals may pose could have serious, even fatal, negative consequences.
The global market for cosmeceuticals was considerably hampered by the advent of COVID-19. Leading dermatologists have reported a sharp drop in patient visits, and the closure of retailers involved in the distribution of these medications during the shutdown are two of the main factors harming the market. Additionally, the COVID-19 outbreak caused the cancellation of elective procedures, including medical aesthetic procedures, which decreased the number of patients visiting specialty clinics offering aesthetic therapy. Lower patient prescriptions for these items as a result of the drop in these procedures had a negative impact on the market.
The hair care segment is expected to be the largest during the forecast period
The hair care segment is estimated to have a lucrative growth, due to the demand for a variety of products that aid in strengthening and maintaining hair. The most popular goods in the upcoming years will be shampoo, conditioner, hair colour, and hair oil. In the upcoming years, it is anticipated that the rising popularity of dry shampoos and air masks will propel market expansion.
The online stores segment is expected to have the highest CAGR during the forecast period
The online stores segment is anticipated to witness the highest CAGR growth during the forecast period, due to the fact that these products are available on online platforms, and that these online platforms offer promotions that help to fuel the expansion of the industry. The adoption of new technologies by customers and ongoing technological breakthroughs will fuel market expansion. These products' sales through online retailers like Amazon have had a significant impact on the market.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period as a result of the fast growing rising economies in the area. Fortunately, this has allowed companies to open offices in the very populous nations in this region. People have been able to switch to better quality brands of these goods owing to the rise of e-commerce and e-tailing in the countries in this region.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to the rising use of cutting-edge cosmeceutical products and the incidence of skin problems like acne. Additionally, it is anticipated that growing initiatives by key market participants, who are expanding distribution channels in the area to meet the rising demand, will boost the market in the European region.
Key players in the market
Some of the key players profiled in the Cosmeceuticals Market include Procter and Gamble, Coty Inc., Clarins, Johnson & Johnson Services, Inc., L’Oréal, LVMH, Estée Lauder Companies Inc., BASF SE, Shiseido Company Limited, Beiersdorf, Unilever, Elementis Plc, Croda International Plc, Avon and Allergan.
In September 2021, Croda International Plc. launched Nutrinvent Balance, a novel cosmeceutical ingredient to reduce sebum from hair and scalp. The new ingredient is intended to be used in hair care formulations for consumers. The development is aimed at strengthening the company’s product portfolio along with improving its market position.
In July 2021, L’Oreal announced the filing of a patent for a novel digital biomarker detection system that detects clinical signs of aging. This improves awareness of skin aging among the general population along with recommending customized formulations and product recommendations. This may increase the consumer base, thereby improving the company's product portfolio adoption.
In February 2021, Beiersdorf announced the launch of O.W.N., a face care brand. The brand uses Artificial Intelligence (AI) with a proprietary algorithm to further customize product offerings to the consumer. The launch is focused on European consumers with a view to strengthening market presence in the region.
Product Types Covered:
• Skin Care
• Hair Care
• Other Product Types
Distribution Channels Covered:
• Online Stores
• Pharmacy/Drug Stores
• Convenience Stores
• Specialist Stores
• Other Distribution Channels
• Peptides and Proteins
• Skin lightening agents
• Hydroxy acids
• Other Ingredients
Packaging Materials Covered:
• Other Packaging Materials
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.6 Product Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Cosmeceuticals Market, By Product Type
5.2.1 Dermal Fillers
5.2.2 Botulinum Toxin
5.3 Skin Care
5.3.1 Professional Skincare
5.3.3 Sun Protection
5.3.4 Skin Whitening
5.4 Hair Care
5.4.2 Hair Growth
5.4.3 Hair Colorants and Dyes
5.4.4 Shampoos and Conditioners
5.5 Other Product Types
5.5.1 Tooth Whitening
5.5.2 Oral Care
5.5.3 Lip Care
5.5.4 Anti-Cellulite/Body Slimming Preparations
6 Global Cosmeceuticals Market, By Distribution Channel
6.2 Online Stores
6.3 Pharmacy/Drug Stores
6.5 Convenience Stores
6.6 Specialist Stores
6.7 Other Distribution Channels
7 Global Cosmeceuticals Market, By Ingredient
7.4 Peptides and Proteins
7.6 Skin lightening agents
7.7 Hydroxy acids
7.14 Other Ingredients
8 Global Cosmeceuticals Market, By Packaging Material
8.5 Other Packaging Materials
9 Global Cosmeceuticals Market, By Geography
9.2 North America
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.5 Other Key Strategies
11 Company Profiling
11.1 Procter and Gamble
11.2 Coty Inc.
11.4 Johnson & Johnson Services, Inc.
11.7 Estée Lauder Companies Inc.
11.8 BASF SE
11.9 Shiseido Company Limited
11.12 Elementis Plc
11.13 Croda International Plc
List of Tables
1 Global Cosmeceuticals Market Outlook, By Region (2020-2028) ($MN)
2 Global Cosmeceuticals Market Outlook, By Product Type (2020-2028) ($MN)
3 Global Cosmeceuticals Market Outlook, By Injectable (2020-2028) ($MN)
4 Global Cosmeceuticals Market Outlook, By Dermal Fillers (2020-2028) ($MN)
5 Global Cosmeceuticals Market Outlook, By Botulinum Toxin (2020-2028) ($MN)
6 Global Cosmeceuticals Market Outlook, By Skin Care (2020-2028) ($MN)
7 Global Cosmeceuticals Market Outlook, By Professional Skincare (2020-2028) ($MN)
8 Global Cosmeceuticals Market Outlook, By Anti-Ageing (2020-2028) ($MN)
9 Global Cosmeceuticals Market Outlook, By Sun Protection (2020-2028) ($MN)
10 Global Cosmeceuticals Market Outlook, By Skin Whitening (2020-2028) ($MN)
11 Global Cosmeceuticals Market Outlook, By Anti-Acne (2020-2028) ($MN)
12 Global Cosmeceuticals Market Outlook, By Hair Care (2020-2028) ($MN)
13 Global Cosmeceuticals Market Outlook, By Anti-Dandruff (2020-2028) ($MN)
14 Global Cosmeceuticals Market Outlook, By Hair Growth (2020-2028) ($MN)
15 Global Cosmeceuticals Market Outlook, By Hair Colorants and Dyes (2020-2028) ($MN)
16 Global Cosmeceuticals Market Outlook, By Shampoos and Conditioners (2020-2028) ($MN)
17 Global Cosmeceuticals Market Outlook, By Other Product Types (2020-2028) ($MN)
18 Global Cosmeceuticals Market Outlook, By Tooth Whitening (2020-2028) ($MN)
19 Global Cosmeceuticals Market Outlook, By Oral Care (2020-2028) ($MN)
20 Global Cosmeceuticals Market Outlook, By Lip Care (2020-2028) ($MN)
21 Global Cosmeceuticals Market Outlook, By Anti-Cellulite/Body Slimming Preparations (2020-2028) ($MN)
22 Global Cosmeceuticals Market Outlook, By Distribution Channel (2020-2028) ($MN)
23 Global Cosmeceuticals Market Outlook, By Online Stores (2020-2028) ($MN)
24 Global Cosmeceuticals Market Outlook, By Pharmacy/Drug Stores (2020-2028) ($MN)
25 Global Cosmeceuticals Market Outlook, By Supermarket/Hypermarkets (2020-2028) ($MN)
26 Global Cosmeceuticals Market Outlook, By Convenience Stores (2020-2028) ($MN)
27 Global Cosmeceuticals Market Outlook, By Specialist Stores (2020-2028) ($MN)
28 Global Cosmeceuticals Market Outlook, By Other Distribution Channels (2020-2028) ($MN)
29 Global Cosmeceuticals Market Outlook, By Ingredient (2020-2028) ($MN)
30 Global Cosmeceuticals Market Outlook, By Retinoids (2020-2028) ($MN)
31 Global Cosmeceuticals Market Outlook, By Sunscreens (2020-2028) ($MN)
32 Global Cosmeceuticals Market Outlook, By Peptides and Proteins (2020-2028) ($MN)
33 Global Cosmeceuticals Market Outlook, By Antioxidants (2020-2028) ($MN)
34 Global Cosmeceuticals Market Outlook, By Skin lightening agents (2020-2028) ($MN)
35 Global Cosmeceuticals Market Outlook, By Hydroxy acids (2020-2028) ($MN)
36 Global Cosmeceuticals Market Outlook, By Botanicals (2020-2028) ($MN)
37 Global Cosmeceuticals Market Outlook, By Amines (2020-2028) ($MN)
38 Global Cosmeceuticals Market Outlook, By Vitamins (2020-2028) ($MN)
39 Global Cosmeceuticals Market Outlook, By Ceramides (2020-2028) ($MN)
40 Global Cosmeceuticals Market Outlook, By Acids (2020-2028) ($MN)
41 Global Cosmeceuticals Market Outlook, By Exfoliants (2020-2028) ($MN)
42 Global Cosmeceuticals Market Outlook, By Other Ingredients (2020-2028) ($MN)
43 Global Cosmeceuticals Market Outlook, By Packaging Material (2020-2028) ($MN)
44 Global Cosmeceuticals Market Outlook, By Plastic (2020-2028) ($MN)
45 Global Cosmeceuticals Market Outlook, By Glass (2020-2028) ($MN)
46 Global Cosmeceuticals Market Outlook, By Metal (2020-2028) ($MN)
47 Global Cosmeceuticals Market Outlook, By Other Packaging Materials (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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