May 29, 2024

Cosmeceuticals Market High Growth Opportunities, Emerging Trends, Industry Review, Forecast Till 2031

The cosmeceuticals industry has experienced significant growth in the past decade owing to the increasing demand for anti-aging skincare products. Cosmeceuticals are cosmetic formulations that deliver biologically active skincare ingredients aimed at treating or preventing specific skin conditions. Anti-aging products have been the prime focus of cosmeceutical manufacturers as they constitute the largest segment within the market. Growing awareness about the benefits of ingredients such as peptides, retinol, hyaluronic acid, and vitamins A, C, and E in slowing down the signs of aging has led to higher adoption of anti-wrinkle creams, serums, and gels. Additionally, the busy lifestyles and high levels of stress have accelerated skin aging, prompting consumers to invest more in effective anti-aging solutions.

The global Cosmeceuticals Market is estimated to be valued at US$ 83.9 in 2024 and is expected to exhibit a CAGR of 9.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Get more insights on this topic: https://www.coherentmarketinsights.com/market-insight/cosmeceuticals-market-221

Market key trends:

One of the key trends observed in the cosmeceuticals market is the growing popularity of organic and natural skin care products. Organic ingredients are safer, gentle, and more effective on sensitive skin as compared to chemical derivatives. Moreover, consumer awareness about health hazards of certain synthetic compounds is triggering widespread preference for organic cosmeceuticals made from plant extracts, vitamins, minerals, and other naturally-derived ingredients. Leading companies have launched product lines with all natural formulations to capitalize on this demand. Another notable trend is the utilization of advanced technologies in new product development. For instance, manufacturers are focusing on anti-aging formulations enriched with stem cell extract and microencapsulated retinol to enhance efficacy and minimize side effects. Nanotechnology is also being leveraged to design advanced delivery systems for active ingredients and boost penetration.

Porter’s Analysis

Threat of new entrants: Low capital requirement for starting a cosmeceuticals brand poses a moderate threat. However, established brands dominate supply chains and distribution channels.

Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and transparency of product information online. They can easily switch to other brands.

Bargaining power of suppliers: Key suppliers like ingredients producers and contract manufacturers enjoy moderate power due to specialized expertise and investments required.

Threat of new substitutes: Alternative product categories like nutraceuticals, botanical dietary supplements pose threats. However, unique therapeutic benefits maintain cosmeceuticals relevance.

Competitive rivalry: Intense competition exists among major global players like L’Oréal, Beiersdorf, Shiseido and Estée Lauder due to their R&D investments and brand positioning strategies.

Key Takeaways

The global cosmeceuticals market is expected to witness high growth. The global Cosmeceuticals Market is estimated to be valued at US$ 83.9 in 2024 and is expected to exhibit a CAGR of 9.2% over the forecast period 2024 to 2031.
North America dominates currently due to early product adoption. However, Asia Pacific is expected to grow at the fastest pace owing to rising expenditure on personal care products in China and India. Europe is a major region, led by developed markets of Germany, UK and France. Rising health & wellness trends drive cosmeceuticals popularity. Changing demographics with aging population also supports market in the region.

Key players related content comprising: Key players operating in the cosmeceuticals market are L’Oréal, Beiersdorf, Shiseido, Estée Lauder, and Procter & Gamble. L’Oréal holds a leading position with its Skincare Division constituting 19.7% of company’s total revenue in 2023. Estée Lauder focuses on premium positioning supported by extensive research facilities.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it