Cosmeceuticals Market Business Opportunities and Growth Challenges Report
The cosmetic industries are becoming very innovative and creative in providing unique quality products in the market to earn an advantage over the competitors. For the cosmetic industries to remain in the stiff competition needs to upgrade their cosmetics product and integrate technology to remain productive in the business.
According to our latest study on "Global Cosmeceuticals Market Forecast to 2028 – COVID-19 Impact and Analysis – by Active Ingredient, Distribution Channel, and Product" the cosmeceuticals market size is projected to reach US$ 81.75 billion by 2028 from US$ 45.91 billion in 2021; it is estimated to grow at a CAGR of 8.6% from 2021 to 2028. The report highlights the key factors and trends impacting the market, and it also focuses on prominent players and their game-changing growth strategies.
The elevating demand for antiaging cosmeceuticals and increased adoption of online retail are fueling the cosmeceuticals market growth. However, the adverse effects of the COVID-19 pandemic restrict the market growth.
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Based on active ingredient, the cosmeceuticals market is segmented into antioxidants, peptides and proteins, exfoliants, retinoids, botanicals, and others. The antioxidants segment held the largest share of the market in 2021. Antioxidants can counter “free radicals” that damage DNA, lipids, and proteins through the oxidation process. Damaged skin cells can speed up aging, causing wrinkles, dry skin, dark circles (under the eyes), dull skin, and lowered elasticity and pliability. Antioxidants neutralize free radicals, which are produced by exposure to sunlight, polluted air, and industrial environments, among others. Antioxidant-based products are as important as sunscreen-containing products in battling aging and skin cancer. They create a barrier on the skin to protect it from the abovementioned factors. The addition of antioxidants can also be used to preserve the formulations and enlarge their shelf lives. Antioxidants can be lipid-soluble, water-soluble, or both.
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L’Oréal S.A., Beiersdorf Global, Croda International, Amway Corp., Allergan, Unilever plc, Johnson & Johnson, Procter & Gamble, Avon Products Inc., and BASF SE are among the leading companies operating in the cosmeceuticals market.
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