"Cosmeceuticals: The Future of Skincare Unveiled in Market Trends and Advanced Formulations."
Global Cosmeceuticals Market was valued at USD 59.01 billion in 2022 and is expected to reach USD 100.63 billion by the year 2030, at a CAGR of 6.9%.
Dermatologist Dr. Albert Kligman, for the first time in 1984 used the term cosmeceutical. He derived it by combining the words cosmetic and pharmaceutical. Cosmeceuticals are products that have both cosmetic and therapeutic effects and are considered to have a beneficial effect on skin, hair, and oral health.
They are applied topically as creams or lotions, similar to cosmetics, but include active chemicals that enhance skin cell activity. In some situations, their activity is restricted to the skin's surface (for example, exfoliants), whilst others can penetrate deeper depths, boosting or restricting natural skin processes. Cosmeceuticals are accessible without a prescription and are often used as part of a normal skincare routine to assist enhance skin tone and texture, pigmentation, and fine wrinkles.
Cosmeceuticals are the fastest-growing segment of the personal care industry and the market for personal care is increasing enormously. Cosmeceuticals are also utilized for hair care and oral care. In haircare, cosmeceuticals are mostly utilized to treat hair damage, hair loss, and prevent hair from turning grey. The wide applications of cosmeceuticals and their organic nature have made them the fastest-growing segment thus, promoting the expansion of the cosmeceuticals market over the forecast period.
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Segments Covered :
By Type
Anti-Oxidants
Botanicals
Exfoliants
Others
By Product Type
Skincare
Haircare
Oral Care
Others
By Distribution Channels
Pharmacy & Drug Stores
Supermarkets & Hypermarkets
Online
Others
By Region
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
South America (Brazil, Argentina, Rest of SA)
Recent Industry Developments in Cosmeceuticals Market:
In November 2021, P&G acquired Farmacy to expand its portfolio in vegan-based beauty products. This acquisition will add a full line of prestigious products that deliver natural skincare solutions to P&G's product portfolio.
In July 2021, Unilever announced it has signed an agreement to acquire leading digital-led skincare brand Paula's Choice from TA Associates. Paula's Choice is a pioneer of science-backed products and direct-to-consumer (DTC) e-commerce.
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Players Covered in Cosmeceuticals :
Procter & Gamble (US)
L'Orรฉal (France)
Allergan (Ireland)
AVON (UK)
Unilever (UK)
Beiersdorf (Germany)
Croda International Plc. (UK)
Bayer AG (Germany)
Symrise AG (Germany) and other major players.
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