Cosmeceuticals Market - Global Market Share, Trends, Analysis and Forecast, 2023-2032
The global cosmeceuticals market was estimated to be US$ 57.06 Billion in 2022 and is expected to grow at a CAGR of 8.0% between 2023 to 2032.
The term "cosmeceutical" is used to describe a cosmetic product that also contains active ingredients that have therapeutic effects on the skin. The term itself is a combination of the words "cosmetic" and "pharmaceutical".
Cosmeceuticals are formulated to provide both cosmetic and therapeutic benefits, offering consumers an alternative to traditional pharmaceuticals and high-end cosmetic products. They may contain ingredients such as antioxidants, vitamins, peptides, and botanical extracts that have been scientifically proven to improve the appearance and health of the skin.
Cosmeceuticals Market Drivers
Increasing consumer demand for anti-aging and skincare products is driving the market growth
The global cosmeceutical market is being driven by a range of factors, including increasing consumer demand for anti-aging and skincare products, the growing prevalence of skin diseases and conditions, rising awareness and adoption of organic and natural cosmeceuticals, technological advancements and product innovations, and increasing disposable incomes and changing lifestyles, particularly in emerging markets.
These factors are contributing to a sustained period of growth and innovation in the industry, with companies developing new and more effective cosmeceutical products to meet consumer demand.
One of the key drivers of the global cosmeceutical market is the increasing consumer demand for anti-aging and skincare products. This trend is being fueled by a range of factors, including rising disposable incomes, the desire for improved appearance, and social media influencers promoting skincare and beauty products.
The growing prevalence of skin diseases and conditions is also driving the demand for cosmeceuticals that offer therapeutic benefits for a range of skin concerns. In addition, the rising awareness and adoption of organic and natural cosmeceuticals is contributing to the development of new products that are seen as safer and more sustainable.
Technological advancements and product innovations are also driving growth in the cosmeceutical market, with companies using new technologies such as nanotechnology and biotechnology to develop more effective and targeted skincare products.
Finally, increasing disposable incomes and changing lifestyles in emerging markets are contributing to the sustained growth and development of the cosmeceutical market, particularly in Asia-Pacific and Latin America.
Product Type segmentation of Global Cosmeceuticals Market
Increasing prevalence of skin diseases is driving the growth of the skincare segment
Based on product type the market is segmented into skin care, hair care, and others. Among these, the skin care segment is the largest owing to the fact that skin care products are the most widely used and sought after by consumers, regardless of their age or gender.
The skin care segment comprises a wide range of products, including anti-aging creams, moisturizers, sunscreens, and serums, among others. The growing focus on healthy skin and the desire for youthful and healthy-looking skin are key drivers of the demand for skin care products.
Additionally, the increasing prevalence of skin diseases and conditions such as acne, rosacea, and hyperpigmentation is also contributing to the growth of the skin care segment. These conditions are becoming more common due to factors such as pollution, changing lifestyles, and environmental factors. Consumers are turning to cosmeceutical products to treat these skin concerns, which is further driving the growth of the skin care segment.
The hair care segment is also a significant part of the cosmeceutical market, with products such as shampoos, conditioners, and hair serums being in demand. However, the skin care segment is larger due to the wider range of products available and the greater demand for skin care products in general.
Overall, the skin care segment is expected to continue to dominate the cosmeceutical market due to the sustained demand for skincare products and ongoing product innovations.
Ingredients segmentation of Global Cosmeceuticals Market
Growing demand for natural cosmeceuticals is driving the growth of the botanicals segment
Based on ingredients, the market is segmented into Anti-Oxidants, Sunscreens, Botanicals, Peptides & Proteins, Exfoliants, Moisturizers, and Retinoids.
Among these, the largest segment based on ingredients in the cosmeceutical market is the moisturizers segment. This is due to the widespread use of moisturizers in daily skin care routines and their importance in maintaining healthy and hydrated skin. Moisturizers help to retain moisture in the skin and prevent dryness, which can lead to a range of skin concerns.
Additionally, the growing demand for anti-aging and skin rejuvenation products has led to the development of new and more advanced moisturizers that contain ingredients such as hyaluronic acid, collagen, and ceramides.
While, the fastest-growing segment based on ingredients in the cosmeceutical market is the botanicals segment. This is due to the growing demand for natural and organic cosmeceuticals, which are seen as safer and more sustainable than traditional products.
Botanicals are plant-derived ingredients that have therapeutic properties and are used in a range of cosmeceuticals, such as anti-aging creams, serums, and masks.
Botanicals such as aloe vera, green tea, and chamomile are widely used in cosmeceutical products due to their soothing and anti-inflammatory properties. Additionally, botanicals such as turmeric, ginseng, and licorice root are being increasingly used for their skin brightening and anti-aging benefits.
Regional trends of the Global Cosmeceuticals Market
North America is the largest regional market for cosmeceuticals
Geographically, the global cosmeceuticals market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America.
Following are some of the major trends in these regions –
North America is the largest regional market for cosmeceuticals, owing to the high demand for anti-aging and skincare products. The region is home to a large number of aging baby boomers who are willing to invest in premium skincare products to maintain a youthful appearance.
In addition, there is a growing trend towards natural and organic products, which has led to an increase in the number of companies offering clean and green cosmeceuticals. The region is also witnessing a rise in the popularity of cosmeceuticals that offer both cosmetic and therapeutic benefits, such as those that target skin diseases and conditions.
The European market for cosmeceuticals is characterized by a strong focus on natural and organic products. Consumers in the region are increasingly concerned about the safety and efficacy of cosmeceuticals and are willing to pay a premium for products that are made from natural and organic ingredients.
In addition, the region is home to a number of innovative cosmeceutical companies that are focused on developing new and effective products. The increasing demand for anti-aging products and the growing prevalence of skin diseases and conditions are also driving the growth of the market in the region.
The Asia-Pacific region is the fastest-growing market for cosmeceuticals, owing to the large and growing middle-class population in the region. Consumers in the region are increasingly focused on health and wellness, and are willing to invest in premium cosmeceuticals that offer both cosmetic and therapeutic benefits.
The region is also witnessing a rise in the popularity of luxury cosmeceuticals, particularly in countries such as China and Japan. In addition, the increasing adoption of e-commerce platforms and social media is facilitating the growth of the market in the region.
Key players and market strategies:
Companies operating in the global cosmeceutical market are adopting a range of growth strategies to remain competitive and meet the evolving demands of consumers. One key strategy is product innovation, as companies seek to develop new and more effective products to capture market share.
This includes developing products that offer both cosmetic and therapeutic benefits, such as those that target skin diseases and conditions. Companies are also investing in research and development to identify new ingredients and formulations that can deliver improved results.
Another key growth strategy is geographic expansion, as companies seek to tap into new and emerging markets around the world. This includes expanding into regions such as Asia-Pacific, where there is a large and growing middle-class population that is increasingly focused on health and wellness.
Companies are also partnering with local distributors and retailers to better reach consumers in these markets. In addition, companies are increasingly adopting digital marketing and e-commerce strategies to reach consumers online and capitalize on the growing trend towards online shopping.
Overall, companies operating in the global cosmeceutical market are taking a multifaceted approach to growth, combining product innovation, geographic expansion, and digital marketing strategies to meet the evolving demands of consumers and remain competitive in a rapidly changing market.
Some of the biggest companies operating in the global cosmeceuticals market are Chanel, Estée Lauder, Johnson & Johnson, Kao Corporation, L'Oréal, LVMH, Natura & Co, Procter & Gamble, Revlon, Shiseido, The Body Shop, Unilever, Amorepacific, Avon Products, Coty Inc., and many more.
Global Cosmeceuticals Market Segmentation:
By Product:
- Skin Care
- Anti-aging
- Sun Protection
- Skin Whitening
- Anti-Acne
- Professional Skincare
- Others
- Hair Care
- Hair Growth
- Anti-Dandruff
- Others
- Others
- Lip Care
- Tooth Whitening
- Anti-Cellulite/Body Slimming Preparations
- Others
By Ingredients:
- Anti-Oxidants
- Sunscreens
- Botanicals
- Peptides & Proteins
- Exfoliants
- Moisturizers
- Retinoids
By Distribution Channel:
- Online Platforms
- General Trade
- Modern Trade
By Region:
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- South America
- Brazil
- Rest of South America
- Introduction
- Research Objectives
- Report Assumptions
- Research Methodology
- Abbreviations
- Preface
- Market Definition
- Report Scope and Market Segmentation
- Research Highlights
- Market Synopsis: Global Cosmeceuticals Market
- Global Cosmeceuticals Market Qualitative Analysis
- Trends
- Market trends
- Technology Trends
- PESTLE Analysis (For 3 prominent countries)
- Market Influencers
- Driving Forces
- Hindering Forces
- Opportunities
- COVID-19 impact
- Porter’s Five Forces Analysis
- Value Chain Analysis
- Trends
- Global Cosmeceuticals Market Analysis and Forecast, by Product
- Overview and definitions
- Key segment analysis
- Global Cosmeceuticals Market Estimates (US$ Mn), by Product, 2019 – 2032
- Skin Care
- Anti-aging
- Sun Protection
- Skin Whitening
- Anti-Acne
- Professional Skincare
- Others
- Hair Care
- Hair Growth
- Anti-Dandruff
- Others
- Others
- Lip Care
- Tooth Whitening
- Anti-Cellulite/Body Slimming Preparations
- Others
- Skin Care
- Global Cosmeceuticals Market Analysis and Forecast, by Ingredients
- Overview and definitions
- Key segment analysis
- Global Cosmeceuticals Market Estimates (US$ Mn), by Ingredients, 2019 – 2032
- Antioxidants
- Sunscreens
- Botanicals
- Peptides & Proteins
- Exfoliants
- Moisturizers
- Retinoids
- Global Cosmeceuticals Market Analysis and Forecast, by Distribution Channel
- Overview and definitions
- Key segment analysis
- Global Cosmeceuticals Market Estimates (US$ Mn), by Distribution Channel, 2019 – 2032
- Online Platforms
- General Trade
- Modern Trade
- Global Cosmeceuticals Market Analysis and Forecast, by Region
- Overview and definitions
- Key segment analysis
- Global Cosmeceuticals Market Estimates (US$ Mn), by Region, 2019 – 2032
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- North America Cosmeceuticals Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- North America Cosmeceuticals Market Estimates (US$ Mn), by Product, 2019 – 2032
- Skin Care
- Anti-aging
- Sun Protection
- Skin Whitening
- Anti-Acne
- Professional Skincare
- Others
- Hair Care
- Hair Growth
- Anti-Dandruff
- Others
- Others
- Lip Care
- Tooth Whitening
- Anti-Cellulite/Body Slimming Preparations
- Others
- North America Cosmeceuticals Market Estimates (US$ Mn), by Ingredients, 2019 – 2032
- Antioxidants
- Sunscreens
- Botanicals
- Peptides & Proteins
- Exfoliants
- Moisturizers
- Retinoids
- North America Cosmeceuticals Market Estimates (US$ Mn), by Distribution Channel, 2019 – 2032
- Online Platforms
- General Trade
- Modern Trade
- North America Cosmeceuticals Market Estimates (US$ Mn), by Country, 2019 – 2032
- United States
- Canada
- Rest of North America
- Skin Care
- Europe Cosmeceuticals Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Europe Cosmeceuticals Market Estimates (US$ Mn), by Product, 2019 – 2032
- Skin Care
- Anti-aging
- Sun Protection
- Skin Whitening
- Anti-Acne
- Professional Skincare
- Others
- Hair Care
- Hair Growth
- Anti-Dandruff
- Others
- Others
- Lip Care
- Tooth Whitening
- Anti-Cellulite/Body Slimming Preparations
- Others
- Europe Cosmeceuticals Market Estimates (US$ Mn), by Ingredients, 2019 – 2032
- Antioxidants
- Sunscreens
- Botanicals
- Peptides & Proteins
- Exfoliants
- Moisturizers
- Retinoids
- Europe Cosmeceuticals Market Estimates (US$ Mn), by Distribution Channel, 2019 – 2032
- Online Platforms
- General Trade
- Modern Trade
- Europe Cosmeceuticals Market Estimates (US$ Mn), by Country, 2019 – 2032
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Skin Care
- Asia Pacific Cosmeceuticals Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Asia Pacific Cosmeceuticals Market Estimates (US$ Mn), by Product, 2019 – 2032
- Skin Care
- Anti-aging
- Sun Protection
- Skin Whitening
- Anti-Acne
- Professional Skincare
- Others
- Hair Care
- Hair Growth
- Anti-Dandruff
- Others
- Others
- Lip Care
- Tooth Whitening
- Anti-Cellulite/Body Slimming Preparations
- Others
- Asia Pacific Cosmeceuticals Market Estimates (US$ Mn), by Ingredients, 2019 – 2032
- Antioxidants
- Sunscreens
- Botanicals
- Peptides & Proteins
- Exfoliants
- Moisturizers
- Retinoids
- Asia Pacific Cosmeceuticals Market Estimates (US$ Mn), by Distribution Channel, 2019 – 2032
- Online Platforms
- General Trade
- Modern Trade
- Asia Pacific Cosmeceuticals Market Estimates (US$ Mn), by Country, 2019 – 2032
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia Pacific
- Skin Care
- Middle East & Africa Cosmeceuticals Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Middle East & Africa Cosmeceuticals Market Estimates (US$ Mn), by Product, 2019 – 2032
- Skin Care
- Anti-aging
- Sun Protection
- Skin Whitening
- Anti-Acne
- Professional Skincare
- Others
- Hair Care
- Hair Growth
- Anti-Dandruff
- Others
- Others
- Lip Care
- Tooth Whitening
- Anti-Cellulite/Body Slimming Preparations
- Others
- Middle East & Africa Cosmeceuticals Market Estimates (US$ Mn), by Ingredients, 2019 – 2032
- Antioxidants
- Sunscreens
- Botanicals
- Peptides & Proteins
- Exfoliants
- Moisturizers
- Retinoids
- Middle East & Africa Cosmeceuticals Market Estimates (US$ Mn), by Distribution Channel, 2019 – 2032
- Online Platforms
- General Trade
- Modern Trade
- Middle East & Africa Cosmeceuticals Market Estimates (US$ Mn), by Country, 2019 – 2032
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- Skin Care
- South America Cosmeceuticals Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- South America Cosmeceuticals Market Estimates (US$ Mn), by Product, 2019 – 2032
- Skin Care
- Anti-aging
- Sun Protection
- Skin Whitening
- Anti-Acne
- Professional Skincare
- Others
- Hair Care
- Hair Growth
- Anti-Dandruff
- Others
- Others
- Lip Care
- Tooth Whitening
- Anti-Cellulite/Body Slimming Preparations
- Others
- South America Cosmeceuticals Market Estimates (US$ Mn), by Ingredients, 2019 – 2032
- Antioxidants
- Sunscreens
- Botanicals
- Peptides & Proteins
- Exfoliants
- Moisturizers
- Retinoids
- South America Cosmeceuticals Market Estimates (US$ Mn), by Distribution Channel, 2019 – 2032
- Online Platforms
- General Trade
- Modern Trade
- South America Cosmeceuticals Market Estimates (US$ Mn), by Country, 2019 – 2032
- Brazil
- Argentina
- Rest of South America
- Skin Care
- Competition Analysis – Global Cosmeceuticals Market
- Market Composition
- Market Share Analysis (%), by Supplier (2022)
- Company Profiles
- Chanel
- Business overview
- Geographic presence
- Product portfolio
- Financial facts
- Relevant news and strategic view
- Estée Lauder
- Johnson & Johnson
- Kao Corporation
- L'Oréal
- LVMH
- Natura & Co
- Procter & Gamble
- Revlon
- Shiseido
- The Body Shop
- Unilever
- Amorepacific
- Avon Products
- Coty Inc.
- Chanel
- Conclusion & Recommendations
Frequently asked questions about this report
How big is the cosmeceutical industry?
The cosmeceuticals market was estimated to be US$ 57.06 Billion in 2022.
What is the cosmeceutical market growth?
The cosmeceuticals market is expected grow at a CAGR of 8.0% between 2023 to 2032.
What are the major driving factors in the cosmeceutical market?
The global cosmeceutical market is being driven by a range of factors, including increasing consumer demand for anti-aging and skincare products, the growing prevalence of skin diseases and conditions, and increasing disposable incomes and changing lifestyles, particularly in emerging markets.
Which product type is the largest in the cosmeceutical market?
The skin care segment is the largest owing to the fact that skin care products are the most widely used and sought after by consumers, regardless of their age or gender.
Which is the largest market for cosmeceutical?
North America is the largest regional market for cosmeceuticals, owing to the high demand for anti-aging and skincare products.
What are the key growth strategies of cosmeceutical industry players?
Key growth strategy is geographic expansion, as companies seek to tap into new and emerging markets around the world. This includes expanding into regions such as Asia-Pacific, where there is a large and growing middle-class population that is increasingly focused on health and wellness.
Which ingredients type is the fastest-growing in the cosmeceutical market?
The fastest-growing segment based on ingredients in the cosmeceutical market is the botanicals segment. This is due to the growing demand for natural and organic cosmeceuticals, which are seen as safer and more sustainable than traditional products.
Who are the prominent market players in the cosmeceutical industry?
Chanel, Estée Lauder, Johnson & Johnson, Kao Corporation, L'Oréal, LVMH, Natura & Co, Procter & Gamble, Revlon, Shiseido, The Body Shop, Unilever, Amorepacific, Avon Products, Coty Inc., among others, are the prominent market players in this industry.