USD 1.41 Billion
Report ID:
SQMIG30K2009 |
Region:
Global |
Published Date: February, 2024
Pages:
278
|Tables:
69
|Figures:
75
Neurocosmetics Market size was valued at USD 1.41 Billion in 2023 and is poised to grow from USD 1.53 Billion in 2024 to USD 2.92 Billion by 2032, growing at a CAGR of 8.4% during the forecast period (2025-2032).
Neurocosmetics is a relatively new field that combines neuroscience and cosmetics to create products that not only enhance physical appearance but also improve brain function and emotional well-being. The underlying principle behind neurocosmetics is that the brain and skin are intimately connected, and that certain cosmetic ingredients can affect both.
Traditional cosmetic components are solely focused on the skin; while, neurocosmetics have the ability to evoke specific feelings, emotions, and activity. Neurocosmetics seeks mechanisms and pathways that engage the neurological system, hence activating the skin and influencing well-being. Neurocosmetics confirms that some benefits are actually all in our brains. Although, neurocosmetic products are cosmetics, they are also medicinal. For example, the sensation of chilling soothes the skin.
US Neurocosmetics Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.41 Billion
Largest Segment
Niacinamide
Fastest Growth
Niacinamide
Growth Rate
8.4% CAGR
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Global Neurocosmetics market is segmented based on ingredients, applications and region. Based on the ingredients, the Neurocosmetics Market is segmented into niacinamide, peptides, antioxidants adaptogens, others. Based on the application, the Neurocosmetics Market is segmented into anti-aging, antioxidant, anti-wrinkle, depigmentation, soothing, regeneration, toning, others. Based on the region, the Neurocosmetics Market is segmented into North America, Europe, Asia-Pacific, South America and Middle East & Africa.
Neurocosmetics Market Analysis by Ingredients
Based on the ingredients, the market is segmented into niacinamide, peptides, antioxidants adaptogens, others. Among these, the niacinamide
And antioxidants adaptogens segments of the market is projected to hold significant market shares. Niacinamide: This vitamin B3 derivative has been shown to improve skin barrier function and reduce inflammation. It also has been found to increase the production of ceramides, which are important for maintaining healthy skin. Peptides: These small proteins can penetrate the skin and stimulate the production of collagen and elastin, which are essential for skin elasticity and firmness. Antioxidants: These molecules can protect the skin from free radicals, which are harmful molecules that can cause oxidative stress and accelerate skin aging. Adaptogens are the natural substances help the body adapt to stress and improve overall well-being. Some adaptogens commonly used in neurocosmetics include ginseng, ashwagandha, and rhodiola.
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Based on the region, the market is segmented into North America, Europe, Asia-Pacific, South America and Middle East & Africa. In 2022, North America region held the most dominating share in the market. The market in North America has grown positively as a result of the population's increased buying power, as well as rising demand for luxury and premium products. Furthermore, an increasing number of beauty product outlets in the region is one of the primary factors driving market growth throughout the projection period. Factors driving the demand for neurocosmetics products in North America include increasing consumer awareness about the importance of mental wellness and its impact on skin health, rising disposable incomes, and growing interest in innovative and natural beauty products.
While, on the other hand, the European region is also projected to hold a significant share in the neurocosmetics market. Leading players in the beauty and personal care industry, such as L'Oréal and Beiersdorf AG, Unilever, and others, dominate the European market. Furthermore, factors such as a growth in the number of beauty salons in the region, as well as an increase in the number of millennials and generation Z, are predicted to drive demand for various cosmetic items. Thus, this gives a further scope for the neuroscope market to grow in upcoming years.
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Neurocosmetics Market Driver
Growing interest in mental wellness: There is a growing awareness of the link between mental wellness and skin health. Consumers are increasingly interested in products that can help reduce stress and promote relaxation, which can have a positive impact on skin health.
Increasing disposable income: As disposable income rises, consumers are more willing to spend money on high-end skincare products that offer unique benefits, such as those provided by neurocosmetics.
Rising demand for natural and innovative beauty products: Consumers are looking for natural and innovative beauty products that offer unique benefits beyond traditional skincare products. Neurocosmetics products, with their focus on the nervous system and brain, provide a new and innovative approach to skincare.
Neurocosmetics Market Restraint
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The market is consolidated in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Neurocosmetics Market Top Player’s Company Profiles
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.
According to our analysis, Global Neurocosmetics market is segmented based on ingredients, application and region. Based on the ingredients, the niacinamide segment of the market is projected to hold a significant share in the market. Based on the application, the anti-aging segment of the market is projected to hold a significant share in the market. Based on the region, the North America and Europen regions are projected to hold significant market shares.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 1.41 Billion |
Market size value in 2032 | USD 2.92 Billion |
Growth Rate | 8.4% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Neurocosmetics 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 Neurocosmetics 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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Neurocosmetics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Neurocosmetics 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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Report ID: SQMIG30K2009
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