Pune, Sept. 30, 2020 (GLOBE NEWSWIRE) -- Global cosmeceuticals market size is projected to reach USD 73.73 billion by the end of 2026. The increasing investment in the R&D of newer products will have a massive impact on the growth of the market in the coming years.
According to a report published by Fortune Business Insights, titled “Cosmeceuticals Market Size, Share & Industry Analysis, By Product (Skin Care, Hair Care, Injectable and Others), By Distribution Channels (Pharmacy/Drug Stores, Online Stores, and Others), and Regional Forecast, 2019-2026,” the market was worth USD 37.41 billion and will exhibit a CAGR of 8.9% during the forecast period, 2019-2026.
Industry Developments:
April 2019: L’Oréal is planning to acquire and merge with companies that offer a range of make-up and skin care products to enhance its existing portfolio of skin care products.
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Cosmeceuticals are products that are inclusive of normal cosmetics and a few pharmaceuticals. The primary purpose behind the use of these products is the need for enhancing body appearance. These functions are carried out by the antioxidants used in the cosmeceuticals products. Recent advances in manufacturing as well as ingredients of these products will bode well for the market in the forthcoming years.
The increasing adoption of visually appealing aesthetics, coupled with the availability of cosmeceuticals at a low cost, will have a positive impact on the growth of the market in the coming years. Additionally, the increasing number of regulatory approvals has boded well for the market in recent years and will continue to have a positive impact on the market in the coming years.
The whole world is fighting the novel coronavirus. Sectors and industries are devasted due to the major loss caused by COVID-19 in business. The authorities of several countries have initiated lockdown to prevent the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
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Increasing Number of Company Mergers Will Aid Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. The increasing number of company mergers and acquisitions has had a massive impact on the growth of the market. Accounting to the huge potential held by the products, several large scale companies are looking o invest more in the research and development of newer products. Moreover, major companies are looking to acquire small and medium enterprises, with a bid to establishing a stronghold in the market.
In October 2018, Shiseido announced that it has completed the acquisition of ‘Drunk Elephant.’ The company possesses an attractive portfolio of clean clinical skincare products. This acquisition will not only help the company grow, but will have a massive impact on the growth of the market in the coming years.
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North America to Emerge Dominant; Increasing Investments by Major Companies Will Aid Market Growth
The report analyses the ongoing blood screening market trends across North America, Latin America, Asia Pacific, and the Middle East and Africa. Among these regions, the market in Asia Pacific holds the highest market share, driven by the huge demand for these products in several countries across this region.
As of 2018, the market in Asia Pacific was worth USD 18.32 billion and this value is projected to increase further in the coming years. Besides Asia Pacific, the market in North America and the Middle East and Africa will witness moderate growth in the coming years.
Some of the companies that are operating in the Cosmeceuticals Market include:
- L’Oréal
- Beiersdorf Global
- Croda International Plc
- Allergan
- Avon
- BASF SE
- Estée Lauder Companies Inc.
- Shiseido Company, Limited
- Procter & Gamble
- Elementis
- Others
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Cosmeceuticals Market Segmentations:
By Product Type
· Skin Care
Anti Ageing
Skin Whitening
Sun Protection
Professional Skincare
Anti-Acne
Others
· Hair Care
Hair Growth
Anti Dandruff
Others
· Injectables
Botox Cosmetics
Dermal Fillers
Other Injectables
· Others
Lip Care
Tooth Whitening
Anti Cellulite/body Slimming Preparations
Others
By Distribution Channel
· Pharmacy/Drug Stores
· Online stores
· Others
By Geography
· North America (U.S. and Canada)
· Europe (U.K., Germany, France, Italy, Spain, and Rest of Europe)
· Asia Pacific (India, Japan, Australia, Southeast Asia, China, and Rest of Asia Pacific)
· Rest of the World
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