Cosmeceuticals Market is Estimated to Witness High Growth Owing to Increasing Demand for Skin Care Products with Medical

Skin care products in the cosmeceuticals category include anti-aging creams, sun protection creams, acne treatment, skin-whitening products, and other anti-inflammatory products. These products reduce signs of premature aging of the skin, improve skin texture, protect from UV damage, treat skin conditions or illnesses, and enhance skin appearance.

The global cosmeceutical market was valued at US$ 76,875.0 Mn in 2022 and is forecast to reach a value of US$ 153,318.7 Mn by 2030 at a CAGR of 9.02% between 2023 and 2030.

Key Takeaways

Key players operating in the cosmeceuticals market are Bayer AG, Henkel AG and Co. KgaA, Avon Products Inc., Johnson and Johnson Inc., Kao Corporation, Beiersdorf AG, Groupe Clarins SA, Revlon Inc., Shiseido Co. Ltd., Unilever PLC, Procter and Gamble, L'Or;al SA, Lotus Herbals Pvt. Ltd., and The Est;e Lauder Companies Inc., among others.

The key opportunities in the Cosmeceuticals Market Demand include rising disposable income, growing aging population, and an increasing emphasis on beauty and appearance. Variety of new product innovations catering to specific skin care needs is further fueling the market growth.

Technological advancements in formulations, such as dermatological testing, advanced biotechnology, delivery systems and packaging, are enhancing the efficacy of cosmeceutical products. New ingredients with anti-aging properties, skin-whitening capabilities, and treatment of specific conditions like acne are being developed.