Cosmeceutical Market - Growth, Trends and Forecasts (2020 - 2025)
|発行||Mordor Intelligence LLP||商品コード||546758|
|出版日||ページ情報||英文 100 Pages
|薬用化粧品の世界市場：成長、動向、および予測（2020年～2025年） Cosmeceutical Market - Growth, Trends and Forecasts (2020 - 2025)|
|出版日: 2020年01月01日||ページ情報: 英文 100 Pages||
The global cosmeceuticals market is forecasted to reach USD 85 billion by 2024 growing at a CAGR of 8.81% during the forecast period (2019-2024).
The global cosmeceuticals market offers a wide range of products broadly categorised under skin care, hair care, lip care, and oral care. Also, the market covers the products available across distribution channels Supermarket/Hypermarkets, Convenience stores, online stores, speciality stores, others. Moreover, the study provides an analysis of the cosmeceuticals market in the emerging and established markets across the world, including North America, Europe, Asia-Pacific, South America, Middle East & Africa.
Growing Ageing Population
Consumers, especially the ageing population, are increasingly looking for methods and products to maintain and improve their appearance to look youthful and beautiful, more so with the rising awareness about anti-ageing products. The middle-aged people are increasingly witnessing ageing anxiety, due to the high prevalence of extrinsic signs of ageing. Anti-ageing skin products are known as cosmeceuticals, as they overlap the distinction between cosmetics and pharmaceuticals. Over the past two decades, declining fertility and mortality rate has resulted in a sustained rise in ageing population across the region, especially in China and Japan. Strong desire among men and women to retain youthful appearances has groomed and nurtured the cosmetic industry across the region.
Asia-Pacific Dominates the Global Cosmeceuticals Market|
Though the term 'cosmeceuticals' started gaining momentum in China recently, it has now become one of the most preferred product categories in the country. Busier and stressful lifestyles of consumers in the country, as well as worsening environmental conditions, created more concern around skin conditions amid consumers who seek products for skin rejuvenation. This has led to an increase in sales of cosmeceuticals. Moreover, the population of Japan is among the most prolific consumers of cosmetics, placing it among the top five national markets for personal care products. From the viewpoint of not only size but also the trends and market demand, Japan can be regarded as a gateway to other Asian markets. Success in the Japanese market can raise product/brand profile and visibility, particularly in other Asian markets.
The most active companies in the market include key players, such as Procter & Gamble, Unilever, L'Oreal SA, Shiseido Co. Ltd, and The Estee Lauder Companies Inc. L'Oreal SA is one of the most active companies, with numerous brands offering a broad range of cosmeceuticals, across the world. The company has spent considerably on improving quality, product innovation in terms of ingredients, functionality, and packaging. Moreover, these active companies have adopted strategic acquisition as their key strategy, to increase their geographical presence and customer base.