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Cosmeceutical Market to Witness 5.10% CAGR by 2031 | SkyQuest Technology

Cosmeceutical Market size was valued at USD 63.48 billion in 2023 to USD 94.51 billion by 2031, growing at a CAGR of 5.10% during the forecast period (2024-2031).

Westford, USA, Dec. 11, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that cosmeceutical market size will attain the value of USD 94.51 Billion by 2031, with a CAGR of 5.10% during the forecast period (2024-2031). The cosmeceutical industry is expected to grow due to increasing consumer concern for their skin. The rise of cosmetic products has transformed the beauty and personal care industry. This trend has significantly increased the demand for products and expanded its market share in the personal care and cosmetic industries. With the widespread awareness of the harmful effects of these beauty products, the demand for organic and natural products has increased dramatically. 

Browse in-depth TOC on “Cosmeceutical Market”   

  • Pages – 198 
  • Tables – 62 
  • Figures – 75 

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Cosmeceutical Market Overview:  

Report Coverage  Details  
Market Revenue in 2023  USD 63.48 Billion      
Estimated Value by 2031  USD 94.51 Billion    
Growth Rate  Poised to grow at a CAGR of 5.10%   
Forecast Period  2024–2031  
Forecast Units  Value (USD Billion)  
Report Coverage  Revenue Forecast, Competitive Landscape, Growth Factors, and Trends  
Segments Covered  Product, Distribution Channel and Region  
Geographies Covered  North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights  Rising Consumer Preference for Advanced Skincare  
Key Market Opportunities  Expansion in Emerging Markets with Growing Disposable Income 
Key Market Drivers  Rising Demand for Electrical Equipment Protection     

Skincare Segment to Dominate Due to Rising Consumer’s Emphasis on Skin Protection 

As per the cosmeceutical market outlook, the skincare segment led the market, accounting for 43.3% of the total share in 2023. Exposure to damaging UV light can result in premature skin aging or even skin cancer. This has enhanced the consumer’s emphasis on skin protection through the use of preventive skincare products. Furthermore, throughout the forecast period, demand for multifunctional goods is expected to drive the expansion of sun-care cosmetic products. BB cream can be used as a sunblock cream in addition to make-up serum and moisturizer.   

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Specialty Retailers Segment is Growing Due to Strong Advertising and Other Marketing 

On the other hand, supermarkets have the largest cosmeceutical market share in the specialty retailer’s segment. This is due to strong advertising and other marketing tactics used by distributors and manufacturers in specialty stores, such as discounts on bulk purchases. Consumers choose to shop in bulk at supermarkets when disposable wealth increases in Asia Pacific and developing countries. 

Asia-Pacific is Growing Due to Rising Popularity of E-commerce 

As per the cosmeceutical market analysis, the Asia-Pacific is expected to grow the fastest. The market is growing owing to rapidly growing countries in the region. This effectively paved the way for manufacturers to establish operations in the densely populated countries in the region. The development in popularity of e-commerce or e-tailing in the region has given people access to higher-quality brands of these items. Furthermore, improving living standards in countries such as China, India, and Russia are expected to boost the growth of the beauty and cosmetic products segment in this region.  

Cosmeceutical Market Insights

Drivers  

  • Growing Consumer Demand for Natural and Organic Products 
  • Rising Awareness of Skincare and Anti-Aging Solutions 
  • Technological Innovations in Cosmetic Formulations 

Restraints  

  • High Cost of Premium Cosmeceutical Products 
  • Stringent Regulatory Frameworks for Product Approval 
  • Market Saturation in Developed Regions 

Take Action Now: Secure Your Cosmeceutical Market Todayhttps://www.skyquestt.com/buy-now/cosmeceutical-market

Prominent Players in Cosmeceutical Market   

  • Procter & Gamble
  • L’Oreal
  • Unilever
  • Estée Lauder
  • Johnson & Johnson
  • Shiseido
  • Beiersdorf AG
  • Avon Products
  • Clarins Group
  • Revlon
  • Amway
  • Mary Kay
  • Kao Corporation
  • Coty Inc.
  • Oriflame Cosmetics
  • Chanel
  • Henkel AG & Co. KGaA
  • Colgate-Palmolive Company
  • Elizabeth Arden
  • Natura & Co. 

Key Questions Answered in Cosmeceutical Market Report  

  • Who are the key players in the market? 
  • Which is the dominating region in the market? 
  • What are the key drivers of the market? 
  • Which is the growing region in the market? 

Read Cosmeceutical Market Report Todayhttps://www.skyquestt.com/report/cosmeceutical-market

This report provides the following insights:  

Analysis of key drivers (growing consumer demand for natural and organic products), restraints (high cost of premium cosmeceutical products), opportunities (expansion in emerging markets with growing disposable income) influencing the growth of cosmeceutical market.  

  • Market Dynamics: Comprehensive information about the various products offered by the dominant players in the cosmeceutical market.  
  • Product Development/Innovation: An overview of emerging trends, R&D activities and product launches in the cosmeceutical market.   
  • Market Growth: Detailed information on profitable growing industries.   
  • Market Trends: Complete information about new products, emerging geographical areas and recent developments in the market.  
  • Competitive Analysis: An in-depth analysis of the market segments, growth strategies, revenue analysis, and products of the key market players.  

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About Us:  

SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.  

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.  

Contact Us:  

Mr. Jagraj Singh  
Skyquest Technology  
1 Apache Way,  
Westford,  
Massachusetts 01886  
USA (+1) 351-333-4748  
Email: sales@skyquestt.com  
Visit Our Website: https://www.skyquestt.com/ 

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