What is Global Cosmeceuticals Product Market?
The Global Cosmeceuticals Product Market is a fascinating and rapidly evolving sector of the beauty industry. Cosmeceuticals are cosmetic products with bioactive ingredients purported to have medical benefits. These products bridge the gap between cosmetics and pharmaceuticals, offering consumers the best of both worlds - the beautifying effects of cosmetics and the healing properties of pharmaceuticals. The global market for these products was valued at a staggering US$ 13840 million in 2023 and is projected to reach US$ 16190 million by 2030. This growth is driven by increasing consumer awareness about the benefits of cosmeceuticals and a growing preference for products that combine beauty and health.
Damaged, Dehydrated, Pigmented, Ageing, Acne in the Global Cosmeceuticals Product Market:
The Global Cosmeceuticals Product Market caters to a wide range of skin concerns including damaged, dehydrated, pigmented, ageing, and acne-prone skin. Each of these concerns requires a unique approach and specific ingredients to effectively address the issue. For instance, damaged skin may benefit from products containing antioxidants and anti-inflammatory agents, while dehydrated skin needs products with hydrating ingredients like hyaluronic acid. Pigmented skin, on the other hand, requires products with skin-lightening agents like vitamin C or niacinamide. Ageing skin can benefit from products containing retinol or peptides, which can stimulate collagen production and reduce the appearance of wrinkles. Lastly, acne-prone skin needs products with anti-bacterial and anti-inflammatory ingredients like salicylic acid or tea tree oil. The versatility and effectiveness of cosmeceuticals in addressing these diverse skin concerns have contributed to their growing popularity.
Female, Male in the Global Cosmeceuticals Product Market:
The usage of cosmeceuticals is not limited to females. The Global Cosmeceuticals Product Market also caters to the skincare needs of males. Men's skin is typically thicker and oilier than women's, and it also ages differently. As such, men require products that are specifically formulated to address their unique skin concerns. For instance, men may benefit from products that control oil production, reduce the appearance of large pores, and combat the signs of ageing. The growing awareness among men about the importance of skincare and the increasing acceptance of men's grooming products have fueled the growth of the male cosmeceuticals market.
Global Cosmeceuticals Product Market Outlook:
Looking at the market outlook, the Global Cosmeceuticals Product Market is set for steady growth. In 2023, the market was valued at US$ 13840 million and it is expected to reach US$ 16190 million by 2030, growing at a CAGR of 2.3%. This growth is slower compared to the global pharmaceutical market, which is projected to grow at a CAGR of 5% over the next six years, reaching 1475 billion USD in 2022. The chemical drug market, on the other hand, is estimated to grow from 1005 billion in 2018 to 1094 billion U.S. dollars in 2022. Despite the slower growth rate, the cosmeceuticals market holds immense potential due to the increasing consumer preference for products that offer both cosmetic and therapeutic benefits.
| Report Metric | Details |
| Report Name | Cosmeceuticals Product Market |
| Accounted market size in 2023 | US$ 13840 million |
| Forecasted market size in 2030 | US$ 16190 million |
| CAGR | 2.3% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | P&G, Shiseido, Unilever, Beiersdorf, L’Oreal, Johnson & Johnson, Estee Lauder, Allergan, AmorePacific |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
