JERSEY CITY, N.J., Dec. 14, 2020
Increasing awareness of consumers about their physical appearance, rising desire of people to maintain healthy skin without using chemicals, and increasing urban population are primarily driving the market
JERSEY CITY, N.J., Dec. 14, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Cosmeceuticals Market by Product (Skincare, Haircare, Oral Care), by Distribution Channel (Supermarkets and Specialty Stores, Online Platform), Geography". According to Verified Market Research, the Global Cosmeceuticals Market was valued at USD 41.5 billion in 2020 and is projected to reach USD 74.12 billion by 2027, growing at a CAGR of 8.64 % from 2021 to 2027.
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Browse in-depth TOC on "Cosmeceuticals Market"
202 - Pages
126 – Tables
37 – Figures
Global Cosmeceuticals Market Overview
The global Cosmeceuticals market is principally driven by the increasing awareness of consumers about their physical appearance. The incipience of cosmeceuticals has revolutionized the cosmetic and personal care industry. These products, unlike the makeup products, can determine the origin of the defects rather than just treating them. In addition, the rising desire of people to maintain healthy skin without using chemicals is adding fuel to the market growth. Moreover, the increasing urban population coupled with rising consumer awareness related to the benefits of cosmeceuticals is contributing to market growth. Besides, the application of advanced technologies such as plant stem cell technology, and nanotechnology for the advancement of new active ingredients also foster the growth of the global cosmeceuticals market.
Furthermore, it has been remarked that the demand is huge among the people of age group 30-45. Over the past few years, the decreasing mortality rate has given rise to the aging population across the globe. People living longer and requiring maintaining their young appearance is absolutely influencing market growth globally. The need for anti-aging products to limit hair damage, age spots, uneven skin tone, dry skin, and wrinkles is on the climb. This, in turn, has produced opportunities for new elements and variations in the cosmetic industry, thus addressing the manufacturer's concentration on active anti-aging based skin products.
The major players in the market are Johnson & Johnson, Procter & Gamble, Sabinsa Corporation, L'Oréal, Allergan, AVON, Estee Lauder, Unilever, Beiersdorf, and Croda International Plc.
Verified Market Research has segmented the Global Cosmeceuticals Market On the basis of Product, Distribution Channel, and Geography.
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