The global cosmeceuticals market is expected to grow by USD 17.97 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 6%.
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Technavio has announced its latest market research report titled Global Cosmeceuticals Market 2020-2024 (Graphic: Business Wire)
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Read the 120-page report with TOC on "Cosmeceuticals Market Analysis Report by Product (Skincare cosmeceuticals, Haircare cosmeceuticals, Oral care cosmeceuticals, Make-up cosmeceuticals, and Other cosmeceuticals), Geography (North America, Europe, APAC, South America, and MEA), Distribution channel (Offline and Online), and the Segment Forecasts, 2020-2024".
The market is driven by the growing premium BPC products industry. In addition, advances in technologies are anticipated to boost the growth of the cosmeceuticals market.
The global beauty and personal care market is expected to almost double in size in the next 10-15 years. Most of the consumers worldwide are increasing their preference for high-end cosmetic products as they are becoming aware of the effects caused by harmful chemicals present in low-end cosmetics. To capitalize on this trend, BPC manufacturers are introducing a wide range of premium products under the skincare, haircare, fragrances, make-up, bath, male grooming, and sun care categories. These factors are expected to fuel the growth of the global cosmeceuticals market during the forecast period.
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Major Five Cosmeceuticals Companies:
Amway Corp. operates its business through segments such as Nutrition, Beauty, Home, and Energy and Spot. The company offers a wide range of cosmeceuticals products through brands such as ARTISTRY, ARTISTRY Intensive Skincare, ARTISTRY Hydra-V, and SATINIQUE.
Beiersdorf AG operates its business through segments such as Consumer and Tesa. The company offers a wide range of cosmeceuticals products through brands atrix, Eucerin, Florena, HIDROFUGAL, La Prairie, Labello, NIVEA, and SLEK.
Burberry Group Plc
Burberry Group Plc operates its business through segments such as Retail/wholesale and Licensing. The company offers a wide range of cosmeceuticals products under the brand, Coty.
Johnson & Johnson
Johnson & Johnson operates its business through segments such as Consumer, Pharmaceutical, and Medical Devices. The company offers a wide range of cosmeceuticals products through brands such as NEUTROGENA, AVEENO, NeoStrata, Exuviance, and Dabao.
Kao Corp. operates its business through segments such as Cosmetics Business, Skin Care and Hair Care Business, Human Health Care Business, Fabric and Home Care Business, and Chemical Business. The company offers a wide range of cosmeceuticals products through the brands Est, Sofina iP, Curel, SUQQU, KATE, SENSAI, and Molton Brown.
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Cosmeceuticals Market Product Outlook (Revenue, USD Billion, 2020-2024)
- Skincare cosmeceuticals
- Haircare cosmeceuticals
- Oral care cosmeceuticals
- Make-up cosmeceuticals
- Other cosmeceuticals
Cosmeceuticals Market Geography Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
Cosmeceuticals Market Distribution Channel Outlook (Revenue, USD Billion, 2020-2024)
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