The global cosmeceuticals market size was estimated to be USD 56.41 billion in 2023 and is expected to reach at USD 154.15 billion by 2034 with a CAGR of 9.57% during the forecast period 2024-2034. Increasing prevalence of skin & hair disorders, growing aging population, rising awareness of dermatological treatment, surge in demand for cosmeceutical products, increasing preference for natural products among population, growing introduction of new products with bio-active ingredients, rising awareness initiatives by government regarding skin & hair health, and surge in launch of new products by leading market players are the major factors fuelling the market growth.
Surge in launch of new products by leading market players is predicted to boost the market growth during the forecast period. Cosmeceuticals are cosmetic preparations that include bioactive elements recognized for their therapeutic advantages. The growing demand for these products can be attributed to the increasing prevalence of skin disorders worldwide and the inclination of dermatologists to prescribe them instead of other treatment modalities. For instance, in May 2022, Shiseido has introduced Ulé, a fresh high-end skincare brand developed by Shiseido in France. The brand's initial release features eight products accessible through its online platform, alongside a Paris-based boutique set to open.
By product, skin care was the highest revenue-grossing segment in the global cosmeceuticals market in 2023 owing to the growing adoption of personal care products, rising awareness regarding skin diseases among population, increasing geriatric population, surge in awareness about anti-aging products, and growing launch of new products. For instance, in March 2022, P&G Ventures has reintroduced Bodewell, a range of skincare products tailored for individuals dealing with conditions like eczema and psoriasis. The updated product line blends effective components like colloidal oatmeal and salicylic acid with necessary hydrating agents and an innovative botanical mixture referred to as BW22. Additionally, injectable is predicted to grow at fastest CAGR during the forecast period owing to the increasing adoption of injectable cosmeceuticals in medical aesthetics and growing demand for botulinum toxin.
By distribution channel, drug store/pharmacy was the highest revenue-grossing segment in the global cosmeceuticals market in 2023 owing to the increasing introduction of advanced products at affordable prices, surge in number of pharmacy/drug stores, and rising initiatives by major market players. in September 2022, ESK, a skincare product range that combines cosmetics and pharmaceuticals with scientific backing, has unveiled its newest innovation, the Ageless dissolving microneedle eye patches. These microneedles aid in the formation of channels in the skin, decreasing the presence of wrinkles, fine lines, hyperpigmentation, the likelihood of acne, and the visibility of scars, while also enhancing the penetration of medications and skincare ingredients. Additionally, online pharmacy is predicted to grow at fastest CAGR during the forecast period owing to the rising preference of online stores among consumers, surge in investment for the development of digital platform by market players, and growing collaborations within market players.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in prevalence of dermatological disorders, increasing adoption of advanced dermatology products, growing number of dermatological procedures, and rising focus on expansion by market players. For instance, in October 2022, Obagi Cosmeceuticals has moved its corporate headquarters to The Woodlands, Texas, joining the ranks of 32 other businesses that have also relocated and expanded in the area. The company has secured a lease for 16,470 square feet at The Woodlands Towers at The Waterway, which has led to the addition of 522,028 square feet of new office space and the arrival of 2,000 new residents since 2020. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising demand for cosmetic skin care, oral care, & hair care products, growing new product launches, increasing investment in digital infrastructure, surge in geriatric population, growing awareness among population, rising acquisition within market players, and growing launch of new products. For instance, in January 2023, Oriflame has introduced its inaugural line of cosmeceutical offerings, known as NovAge Proceuticals, tailored for the Indian market. These products are specially formulated to target distinct skin concerns of customers, offering potent and targeted treatments aimed at delivering visible and substantiated outcomes.
Surge in launch of new products by leading market players is predicted to boost the market growth during the forecast period. Cosmeceuticals are cosmetic preparations that include bioactive elements recognized for their therapeutic advantages. The growing demand for these products can be attributed to the increasing prevalence of skin disorders worldwide and the inclination of dermatologists to prescribe them instead of other treatment modalities. For instance, in May 2022, Shiseido has introduced Ulé, a fresh high-end skincare brand developed by Shiseido in France. The brand's initial release features eight products accessible through its online platform, alongside a Paris-based boutique set to open.
By product, skin care was the highest revenue-grossing segment in the global cosmeceuticals market in 2023 owing to the growing adoption of personal care products, rising awareness regarding skin diseases among population, increasing geriatric population, surge in awareness about anti-aging products, and growing launch of new products. For instance, in March 2022, P&G Ventures has reintroduced Bodewell, a range of skincare products tailored for individuals dealing with conditions like eczema and psoriasis. The updated product line blends effective components like colloidal oatmeal and salicylic acid with necessary hydrating agents and an innovative botanical mixture referred to as BW22. Additionally, injectable is predicted to grow at fastest CAGR during the forecast period owing to the increasing adoption of injectable cosmeceuticals in medical aesthetics and growing demand for botulinum toxin.
By distribution channel, drug store/pharmacy was the highest revenue-grossing segment in the global cosmeceuticals market in 2023 owing to the increasing introduction of advanced products at affordable prices, surge in number of pharmacy/drug stores, and rising initiatives by major market players. in September 2022, ESK, a skincare product range that combines cosmetics and pharmaceuticals with scientific backing, has unveiled its newest innovation, the Ageless dissolving microneedle eye patches. These microneedles aid in the formation of channels in the skin, decreasing the presence of wrinkles, fine lines, hyperpigmentation, the likelihood of acne, and the visibility of scars, while also enhancing the penetration of medications and skincare ingredients. Additionally, online pharmacy is predicted to grow at fastest CAGR during the forecast period owing to the rising preference of online stores among consumers, surge in investment for the development of digital platform by market players, and growing collaborations within market players.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in prevalence of dermatological disorders, increasing adoption of advanced dermatology products, growing number of dermatological procedures, and rising focus on expansion by market players. For instance, in October 2022, Obagi Cosmeceuticals has moved its corporate headquarters to The Woodlands, Texas, joining the ranks of 32 other businesses that have also relocated and expanded in the area. The company has secured a lease for 16,470 square feet at The Woodlands Towers at The Waterway, which has led to the addition of 522,028 square feet of new office space and the arrival of 2,000 new residents since 2020. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising demand for cosmetic skin care, oral care, & hair care products, growing new product launches, increasing investment in digital infrastructure, surge in geriatric population, growing awareness among population, rising acquisition within market players, and growing launch of new products. For instance, in January 2023, Oriflame has introduced its inaugural line of cosmeceutical offerings, known as NovAge Proceuticals, tailored for the Indian market. These products are specially formulated to target distinct skin concerns of customers, offering potent and targeted treatments aimed at delivering visible and substantiated outcomes.
Segmentation: Cosmeceuticals Market Report 2022 - 2033
Cosmeceuticals Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
Hair Care
- Anti-Dandruff
- Hair Growth
- Others
Injectables
- Dermal Fillers
- Botulinum Toxin
- Others
Skin Care
- Skin Whitening
- Anti-Aging
- Professional Skin Care
- Sun Protection
- Anti-Acne
- Others
Cosmeceuticals Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Drug Store/Pharmacy
- Online Pharmacy
- Others
Cosmeceuticals Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Cosmeceuticals Market: Product Estimates & Trend Analysis
8. Cosmeceuticals Market: Distribution Channel Estimates & Trend Analysis
9. Regional Market Analysis
10. North America Cosmeceuticals Market
11. Europe Global Cosmeceuticals Market
12. Asia Pacific Global Cosmeceuticals Market
13. Latin America Global Cosmeceuticals Market
14. MEA Global Cosmeceuticals Market
15. Competitor Analysis
16. Company Profiles
Companies Mentioned
- Shiseido Company Limited
- Routinely
- Beiersdorf
- P&G Ventures
- Deciem Beauty Group Inc.
- Estee Lauder Companies Inc.
- Boddess
- L’Oreal
- Elementis Plc
- Allergan
- Unilever
- Avon
- BASF SE
- Clarins
- LVMH
- Johnson & Johnson Services Inc
- Coty Inc
- Croda International Plc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | October 2023 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 56.41 Billion |
| Forecasted Market Value ( USD | $ 154.15 Billion |
| Compound Annual Growth Rate | 9.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 18 |
