What is the global market size of Neurocosmetics Market?

Global Neurocosmetics Market size was valued at USD 1.3 billion in 2021 and is poised to grow from USD 1.41 billion in 2022 to USD 2.69 billion by 2030, growing at a CAGR of 8.4% in the forecast period (2023-2030).

Neurocosmetics Market Size, Share, Growth Analysis, By Ingredients(Niacinamide, Peptides, Antioxidants Adaptogens, Others), By Application(Anti-Aging, Antioxidant, Anti-Wrinkle, Depigmentation), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30K2009 | Region: Global | Published Date: February, 2024
Pages: 278 | Tables: 69 | Figures: 75

Neurocosmetics Market Insights

Global Neurocosmetics Market size was valued at USD 1.3 billion in 2019 and is poised to grow from USD 1.41 billion in 2023 to USD 2.69 billion by 2031, growing at a CAGR of 8.4% in the forecast period (2024-2031).

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.

Neurocosmetics Market Report Snapshots

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Neurocosmetics Market size was valued at USD 1.3 billion in 2019 and is poised to grow from USD 1.41 billion in 2023 to USD 2.69 billion by 2031, growing at a CAGR of 8.4% in the forecast period (2024-2031).

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. 'L'Oreal Group', 'Shiseido Company', 'Estée Lauder Companies', 'Johnson & Johnson', 'Procter & Gamble', 'Unilever', 'Henkel AG & Co. KGaA', 'Beiersdorf AG', 'Coty Inc.', 'Avon Products Inc.', 'Kao Corporation', 'AmorePacific Corporation', 'The Body Shop International Limited', 'LVMH Moët Hennessy Louis Vuitton SE', 'Kiehl's Since 1851', 'Neutrogena Corporation', 'Clarins Group', 'Oriflame Cosmetics SA', 'Mary Kay Inc.', 'Revlon Inc.'

Increased concerns about one's body and well-being are growing on a daily basis as a result of a hectic schedule, changes in routine, eating habits, and sleep cycle fluctuations. Beauty products can improve the quality, cleanse, and beautify exterior body components, allowing people to appear healthier and more appealing. As a result, these are some of the variables that have resulted in brisk product demand from both the young and old. Furthermore, the growing popularity of sun care products, night skin repair creams, refreshing perfumes, and hair colours, among other things, is predicted to drive product demand.

Advancements in neuroscience: As neuroscience advances, there is a growing understanding of the connection between the brain and the skin. This has led to the development of new ingredients and technologies that can be used in neurocosmetics products.

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.

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Neurocosmetics Market Size, Share, Growth Analysis, By Ingredients(Niacinamide, Peptides, Antioxidants Adaptogens, Others), By Application(Anti-Aging, Antioxidant, Anti-Wrinkle, Depigmentation), By Region - Industry Forecast 2024-2031

Neurocosmetics Market Insights

Neurocosmetics Market Report Snapshots

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