by The active cosmetics market is estimated to be valued at US$ 8.25 Billion or Mn in 2022 and is expected to exhibit a CAGR of 12.64% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Active cosmetics are cosmetic products that contain active ingredients that benefit the skin beyond moisturization. They are infused with ingredients like antioxidants, peptides, retinoids, vitamin C, and hyaluronic acid that have specific anti-aging or skin-rejuvenating benefits. Active cosmetics are most commonly used in skin care products like serums, creams, and gels. They aim to hydrate, brighten, and smooth the skin.
Market Dynamics:
Growing health consciousness among consumers regarding skincare and increasing demand for skin care products are expected to drive the growth of the active cosmetics market over the forecast period. Consumers are increasingly adopting natural and organic skincare products for long-term skin benefits which is further fuelling the market growth. Additionally, rising disposable income and changing lifestyles especially in developing nations are positively impacting the demand for premium cosmetic products. The increasing awareness about aging signs and growing preference for anti-aging skin care treatments and products are also propelling the active cosmetics market forward.
SWOT Analysis:
- Strength: Active cosmetics contain biologically active ingredients that provide benefits beyond basic skin care like anti-aging, anti-acne etc. Their safety and efficacy are clinically proven making them very popular. They offer multi-functional solutions and have natural positioning which consumers prefer.
- Weakness: They have shorter shelf life compared to basic cosmetic products. Their per unit cost is higher than conventional cosmetics limiting volumes.
- Opportunity: Growing aging population and increasing beauty and skin care awareness is driving demand. Rise of e-commerce has made these products easily accessible.
- Threats: Strict regulations on labelling and product claims. Quick changing consumer preferences and intense competition.
Key Takeaways:
The Global Active Cosmetics Market Size is expected to witness high growth, exhibiting CAGR of 12.64% over the forecast period, due to increasing demand for multi-functional cosmetic products that provide skin health in addition to beauty.
Regional analysis:
North America dominates the global active cosmetics market currently holding around 35% share due to high consumer spending and rising awareness about skin care in the region. However, Asia Pacific is expected to witness fastest growth due to growing middle class population, increasing purchasing power and rising expenditure on personal care in countries like China, India and South Korea.
Key players:
Key players operating in the active cosmetics market are L’Oréal S.A. (France), Lucas Meyer Cosmetics (France), Pfizer Inc. (U.S.), Givaudan (Switzerland), Croda International Plc. (U.K.), Active Cosmetics Manufacturing (U.S.), and Symrise AG (Germany) among others. These players are focusing on new product launches and expansion in emerging markets through partnerships.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
