The Cosmeceuticals Market to Worth $120.31 Billion by 2028, Nano

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10 Oct, 2023, 14:55 ET

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CHICAGO, Oct. 10, 2023 /PRNewswire/ -- According to Arizton's latest research report, the cosmeceuticals market to grow at a CAGR of 8.73% during 2022-2028.

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Browse in-depth TOC on Cosmeceuticals Market

143 – Tables127 – Figures299 – Pages

Cosmeceuticals Market Report Scope

Report Attributes

Details

Market Size (2028)

$120.31 Billion

Market Size (2022)

$72.81 Billion

CAGR (2022-2028)

8.73 %

Base Year

2022

Forecast Year

2023-2028

Market Segmentation

Application, Distribution Channels, Age Group, and Geography

Geographic Analysis

North America, Europe, APAC, Latin America, and Middle East & Africa

Market Dynamics

· Brand & Consumer Engagement with Social Media Applications

· Increasing Concern About Skin & Hair Issues

· Increasing Awareness & Expenditure for Personal Care

The beauty industry is experiencing significant growth due to emerging trends and a growing emphasis on personal care worldwide. A substantial portion of the global population invests heavily in beauty, personal care items, cosmeceuticals, fragrances, and cosmetics. Increased spending and a heightened awareness of skincare and haircare products drive market growth. The US has one of the highest per capita expenditures on cosmetic products and generates substantial revenue from cosmeceuticals. On the other hand, there is a rising awareness among people in low- and middle-income countries (LMICs) about the importance of personal care, leading to market growth opportunities in these regions.

Vendors Insights

L'Oréal Group is one of the leading market players in the global market. The company is increasing its competitiveness across the market by offering high-quality products. Moreover, with the increasing competition across the market, the company shifted toward using natural ingredients that reduced the side effects and delivered high results. The company decided to increase the use of natural ingredients by 95% and become the global market leader by 2030.

Proctor & Gamble maintains a global presence, operating in approximately 180 countries. The company boasts a portfolio of popular skin care and hair care brands, and it leads a substantial market share, nearly 20%, through brands like Head & Shoulders and Pantene in the retail hair care segment. Olay, one of its flagship brands, is a significant revenue driver in the facial skin care market and ranks among the top brands, contributing to over 6% of the facial skin care market share. On the other hand, Unilever enjoys a broad geographical footprint, with a presence in over 190 countries. In 2023, the company reported that its products are used by more than 3 billion people daily.

Nano-cosmeceuticals Emerging as the Latest Trend in Market

Cosmeceuticals have become a significant factor in modern lifestyle. Consumers' increasing use of cosmeceuticals in daily skin & hair care routines drives the demand for innovations in cosmeceuticals. The cosmeceuticals industry is booming rapidly with types of innovation and trends, of which nano-cosmeceuticals are one of the emerging trends that have the potential to deliver high market growth in the future.

Nanoparticles are most commonly sub-micron-sized, ranging from 1–100 nm4, increasing their cellular internalization and dermal penetration and enhancing the skin appearance comparatively better to other products. Therefore, the increasing implementation of nanotechnology to improve the effectiveness of cosmeceuticals. In addition, the application range of nanoparticles in cosmeceuticals widens hair damage care, aging treatments, wrinkles, and skin dryness. It indicates that there is high potential and growth opportunities for nano-cosmeceutical products, such as the rapid growth in the aging population and aging skin issues.

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Key Company Profiles

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Market Segmentation

Application

Distribution Channels

Age Group

Geography

Key Questions Answered in the Report:

How big is the global cosmeceuticals market?

What is the projected growth rate of the global cosmeceuticals market?

What are the rising trends in the cosmeceuticals industry?

Which region holds the most significant global cosmeceuticals market share?

Who are the key players in the global cosmeceuticals market?

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