Global Cosmeceutical Market Size, Share, Opportunities, And Trends By Product Type (Skin Care (Anti-ageing, Anti-acne, Sun Protection, Moisturizers, Other Skin Care Product Types), Hair Care (Shampoos And Conditioners, Hair Colorants And Dyes, Other Hair Care Product Types), Lip Care, Oral Care), By Distribution Channel (Supermarket/Hypermarkets, Online Retail Stores, Convenience Stores, Specialist Stores, Other Distribution Channels), And By Geography - Forecasts From 2023 To 2028

The word "cosmeceutical" is used by the cosmetics industry to describe cosmetic products that have therapeutic or drug-like benefits even though it is not recognised by the Federal Food, Drug, and Cosmetic Act. Products might include both cosmetics and drugs. Cosmetics are not intended to alter how the body appears or functions, and the FDA has not authorised them for sale. Rather, they are supposed to improve the beauty, stimulate attractiveness, modify the appearance, or cleanse.

The beauty and personal care sectors were completely altered by the arrival of cosmeceuticals. Unlike cosmetics, these items go beyond mere concealment and can address the underlying issue. The cosmetic and personal care sectors saw a large growth in market share and product demand as a result of this quality. The market for cosmeceutical goods is growing on a global scale as a result of the rising incidence of skin and hair problems, the ageing population, and the greater knowledge of dermatological therapy. In addition, the rising demand for natural goods among the general public globally is anticipated to continue to be advantageous for cosmetics. The top businesses are also looking at e-commerce as a lucrative market niche because consumers prefer to buy these items through online channels owing to convenience and simplicity of purchase.

Manufacturers are placing more emphasis on packaging since it is essential for maintaining the product's quality, colour, texture, therapeutic advantages, and shelf life. In order to increase their market share and lower their operating costs, they are concentrating on extending their geographic reach by partnering with other businesses in mergers and acquisitions. The primary areas in which rivals compete are product quality, technical advancements, cost, volume, and capacity.

Increasing demand for organic goods worldwide to surge the market

Producing more products with active substances that are good for the skin and hair will be encouraged by the rising worldwide demand for organic goods. These products are all amazingly helpful for various skin and hair issues. Through the use of drugs that a dermatologist has recommended, they assist in the withdrawal of the most severe illnesses. Research and development that never stops have helped to create groundbreaking items that function miraculously. These elements will impact the growth of the cosmeceutical market.

A rapid upsurge in ageing population to impact growth

Customers, particularly the ageing population, are seeking ways and goods to preserve and enhance their looks so that they remain young and attractive, especially with the growing knowledge of anti-ageing solutions. The increased incidence of ageing indicators is also contributing to an increase in ageing concerns among middle-aged persons. Cosmeceuticals, which blur the line between cosmetics and medicines, include anti-ageing skin care products. Especially in China and Japan, the ageing population has been steadily increasing over the past 20 years as a result of the region's dropping birth and death rates. Men and women in the region have a great desire to maintain their young appearances, which has cultivated and maintained the cosmetic sector.

Asia Pacific is projected to be the prominent market shareholder in the global cosmeceutical market and is anticipated to continue throughout the forecast period.

Accelerated urbanisation, growth in the number of urban residents, and shifting lifestyle preferences are all considered to be contributing factors to Asia Pacific's rising demand for cosmetic skin care, mouth care, and hair care products. The demand for cosmeceuticals is also being fueled by the rising disposable income in emerging nations like China, India, Vietnam, etc. In China, the phrase "cosmeceuticals" started to gain popularity recently and is now one of the most popular product categories there. Customers looking for skin rejuvenation goods were increasingly concerned about skin issues due to the busier and more stressful lifestyles of consumers in the area and the worsening environmental conditions.

Additionally, Japan is one of the top five national markets for personal care goods due to its population's prodigious use of cosmetics. Japan may be seen as a doorway to other Asian markets based on its size, trends, and market demand. The prominence and exposure of a product or brand can increase with success in the Japanese market, particularly in other Asian regions. In addition, the region's growing millennial population is spending more on cosmetics to keep up their beauty.

Market Key Developments

• In July 2022, the "Curl Expression" line was introduced in Nigeria by L'Oréal Professionnel Paris, the company's professional product division. It features 10 items made especially for hair textures that are natural and kinky.
• In May 2022, the debut of Ulé, a new mindful luxury skincare line developed by Shiseido in France, was announced by the company. The brand's e-commerce website offers eight of the goods in its maiden launch, and a boutique will soon be established in Paris.

Segmentation:

• By Product Type
  • Skin Care
    • Anti-ageing
    • Anti-acne
    • Sun Protection
    • Moisturizers
    • Other Skin Care Product Types
  • Hair Care
    • Shampoos and Conditioners
    • Hair Colorants and Dyes
    • Other Hair Care Product Types
  • Lip Care
  • Oral Care

• By Distribution Channel

• • Supermarket/Hypermarkets
  • Online Retail Stores
  • Convenience Stores
  • Specialist Stores
  • Other Distribution Channels

• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others