Global Cosmeceutical Market

Cosmeceutical Market Size, Share, Growth Analysis, By Product(Skin Care, Hair Care, and Oral Care), By Distribution Channel(Supermarkets & Specialty Stores, and Online Platform), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30L2157 | Region: Global | Published Date: April, 2024
Pages: 198 | Tables: 62 | Figures: 75

Cosmeceutical Market News

  • In April 2023, Givaudan successfully acquired numerous cosmetic ingredients from Amyris, the renowned producer of squalane derived from sugarcane. The agreement ensures that Amyris will maintain its role in producing sustainable beauty ingredients for Givaudan. Simultaneously, Caliray, a sustainable beauty brand, has secured funding through a Series A round.

  • In April 2021, L'Oreal announced that it would acquire the Japanese skincare company Takami Co., Ltd. This acquisition will expand L'Oreal's presence in the high-growth Japanese market.

  • In March 2021, The Estée Lauder Companies announced that it had completed the acquisition of Deciem, the parent company of the popular skincare brand The Ordinary.

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Cosmeceutical Market size was valued at USD 60.40 billion in 2022 and is poised to grow from USD 63.48 billion in 2023 to USD 94.51 billion by 2031, growing at a CAGR of 5.10% during the forecast period (2024-2031).

Manufacturers in the industry are progressively focusing on packaging because it is critical in preserving product quality, color, texture, therapeutic effects, and shelf life. They are concentrating on expanding their geographical reach through acquisitions and mergers with other companies, with the goal of boosting their market share and lowering their operational costs. The rivals primarily compete on the basis of product quality, technological advancements, pricing, volume, and capacity. 'Procter & Gamble', 'L'Oreal', 'Unilever', 'Estée Lauder', 'Johnson & Johnson', 'Shiseido', 'Beiersdorf AG', 'Avon Products', 'Clarins Group', 'Revlon', 'Amway', 'Mary Kay', 'Kao Corporation', 'Coty Inc.', 'Oriflame Cosmetics', 'Chanel', 'Henkel AG & Co. KGaA', 'Colgate-Palmolive Company', 'Elizabeth Arden', 'Natura & Co.'

Clean and natural beauty: Consumers are increasingly interested in clean and natural beauty products, and this trend is also extending to the cosmeceutical market. Products that are free from harmful chemicals and contain natural, plant-based ingredients are becoming more popular.

Europe dominated the highest share, accounting for 32.2% in 2022 and is further anticipated to continue so during the forecast period as well. This is due to the population's desire to appear younger in nations such as Germany, the United Kingdom, the Netherlands, and France. Furthermore, given their weather circumstances, these countries have the highest population of persons suffering from dry skin. This will very certainly increase demand for helpful and multifunction skin care cosmetic products. Furthermore, increased spending power in the region for higher-quality products is likely to boost market growth.

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Global Cosmeceutical Market

Report ID: SQMIG30L2157

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