USD 3.2 billion
Functional Cosmetic Market Size, Share, Growth Analysis, By Application(Skin care and hair care and others), By Type(Alpha Hydroxy Acids [AHAs], Polyhydroxy Acids, Beta Hydroxy Acid [Salicylic Acid], Hydroquinone), By Function(Cleansing Agent, Moisturizing Agent, Lightening Agent, Anti-aging Agent), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30L2141 |
Region:
Global |
Published Date: February, 2024
Pages:
278
|Tables:
106
|Figures:
76
Functional Cosmetic Market Insights
Functional Cosmetic Market size was valued at USD 3.2 billion in 2022 and is poised to grow from USD 3.37 billion in 2023 to USD 5.05 billion by 2031, growing at a CAGR of 5.2% in the forecast period (2024-2031).
Functional cosmetics are becoming popular since they Primarily focus on the prevention of skin problem. This market has deep roots in Asia, the market for ingestible beauty products as proliferated around the world with dietary supplements, fortified foods and nutritional beverages that target. Demand for multifunctional ingredients, accelerating demand for anti aging, skin whitening and sun protection are the factors which have positive impact on market. Protection from harmful sun rays, wrinkles, blemishes, acnes, aging, front lines and others are provided by functional cosmetics used in skin care applications.
US Functional Cosmetic Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Skin care
Fastest Growth
Skin care
Growth Rate
5.2% CAGR
Global Functional Cosmetic Market ($ Bn)
Country Share for Europe Region (%)
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Functional Cosmetic Market Segmental Analysis
Global Functional cosmetics market is segmented on the basis of application, type, functions, and region. By application, the market is segmented into Skin care and hair care and others. By type, the market is segmented into Alpha Hydroxy Acids [AHAs], Polyhydroxy Acids, Beta Hydroxy Acid [Salicylic Acid], Hydroquinone, Kojic Acid, Retinoid, L-Ascorbic Acid, Hyaluronic Acid, Copper Peptide, Alpha Lipoic Acid, DMAE [Dimethylaminoethanol], Vitamin C & E, Benzoyl Peroxide, Elastin, Niacinamide, Glycerin, Sulfate And others. By function, the market is segmented into Cleansing Agent, Moisturizing Agent, Lightening Agent, Anti-aging Agent, Thickening Agent, Water-binding Agent, Antibacterial Agent, and Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Functional Cosmetic Market Analysis by Application
By application, the global market is divided into many segments such as Skin care and hair care. Functional ingredients provide the primary benefit to consumers who use the product. These are the ingredients that clean the skin, condition hair, and provide moisturization or even color. Hey Cortana pension sector, skin whitening, improvement of skin wrinkles and anti aging that shows the high efficacy of functional cosmetics.
Functional Cosmetic Market Analysis By End user
By end user, the market is segmented into male, female and unisex. Among all the segments, meal is anticipated to witness the highest growth in the global functional cosmetic market over the forecasted.In recent past years, the skin of male has been totally ignored. Therefore, companies and manufacturers see the greater market in future years.Awareness about the looks and overall Wellness has anticipated the growth of male segment in functional cosmetics.
Global Functional Cosmetic Market By Application
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Functional Cosmetic Market Regional Insights
Globally, Europe is estimated to hold the highest global Functional cosmetics market share in 2021. Raising awareness about the skin and the major use of functional cosmetics led to the growth of the market. Along with this inclination towards natural and organic personal care and easily biodegradable products is another factor that led to the increase of functional cosmetic products in Europe.
Above all, Asia Pacific is expected to grow fastest during the forecast period.Adoption of traditional skin care method has led to the growth of functional cosmetics in Asia Pacific region. An advanced products are produced and manufactured by Korean and Japanese skin care routines, which are adopted by cosmetic companies along with its presence of various leading cosmetic manufacturing companies.In the region is estimated the boost the market.
Global Functional Cosmetic Market By Region
- Largest
- Fastest
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Functional Cosmetic Market Dynamics
Functional Cosmetic Market Drivers
Increasing Popularity Multifunctional Ingredients to Bring Lucrative Growth Opportunities
- To improve the functional properties of cosmetic skin care, functional cosmetics are specialty chemicals that are used.These functional cosmetics include ingredients such as anti aging agents, exfoliators, conditioning agents, UV agents and others. The demand for producing the multiple benefits from a single product is highly increasing. Moreover, there is also a push towards sustainability and reduction of compounds used in cosmetic formulation.
Functional Cosmetic Market Restraints
Expensive Organic Products to Hinder Market Expansion
- One of the major drawbacks of cosmetics is side effects. There are several side effects associated with synthetic ingredients.For example, hydroquinone is marketed extensively for use in skin lightening and is used in concentration of up to 2%.This product has bad effects on health as it causes skin cancer, organ system toxicity and respiratory tract irritation.
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Functional Cosmetic Market Competitive Landscape
Competition in the global Functional cosmetics market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of products compatible with Functional cosmetics will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years.
Functional Cosmetic Market Top Player’s Company Profiles
- L'Oreal S.A.
- Estée Lauder Companies Inc.
- Procter & Gamble Co.
- Unilever PLC
- Shiseido Company, Limited
- Beiersdorf AG
- Johnson & Johnson Services, Inc.
- Avon Products, Inc.
- Kao Corporation
- Amway Corporation
- Mary Kay Inc.
- Oriflame Cosmetics Global SA
- Revlon, Inc.
- Colgate-Palmolive Company
- The Body Shop International Limited
- Coty Inc.
- Henkel AG & Co. KGaA
- The Estée Lauder Companies Inc. (Clinique)
- Chanel S.A.
- Elizabeth Arden, Inc.
Functional Cosmetic Market Recent Developments
- In February 2023, Sharon Personal Care, a leading global innovator and manufacturer of preservative solutions for the cosmetics and personal care markets, consolidated recent acquisitions in order to increase its green product portfolio while strengthening its technological foundation and formulation capabilities.
- In May 2022, The merger of DSM and Firmenich will result in the development and innovation leader in the fields of nutrition, beauty, and well-being. To create DSM-Firmenich, two illustrious businesses that had a history of success and a shared commitment to having a beneficial influence on people and the environment merged on an equal footing. ideally situated to foresee and respond to changing consumer needs through customer assistance. utilizing cutting-edge research and complimentary talents in terms of flavor, texture, and nutrition
Functional Cosmetic Key Market Trends
- There are various products which are included in the functional cosmetic industry and camellia japonica is one of them. As this flower is rich in antioxidants which help to deliver anti aging effects in skin care products, It is being publicized for beautification as an anti aging natural agent.
Functional Cosmetic Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 3.2 billion |
| Market size value in 2031 | USD 5.05 billion |
| Growth Rate | 5.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Functional Cosmetic Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Functional Cosmetic Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Functional Cosmetic Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Functional Cosmetic Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Functional Cosmetic Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Functional Cosmetic Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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