LONDON--(EON: Enhanced Online News)--According to the latest market study released by Technavio, the global cosmeceuticals market is expected to grow at a CAGR of almost 6% during the forecast period.
“Increase in personal disposable income in emerging countries such as China and India, has enabled consumers to spend a significant amount of their income on innovative beauty products such as cosmeceuticals”
This research report titled ‘Global Cosmeceuticals Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
“The increasing inclination toward organic products is expected to heighten product innovation on organic lines. Beauty product manufacturers are expanding their organic lines by introducing new sets of brands or by acquiring popular organic beauty brands,” says Poonam Saini, a lead analyst at Technavio for cosmetics and toiletry research.
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The report categorizes the global cosmeceuticals market into five major product segments. They are:
- Skincare cosmeceuticals
- Haircare cosmeceuticals
- Oral care cosmeceuticals
- Makeup cosmeceuticals
Global skincare cosmeceuticals market
In 2016, the global skincare cosmeceuticals market dominated the global cosmeceuticals market. Today, owing to a greater awareness of the benefits of cosmeceutical products, many consumers have started switching from regular skincare products to cosmeceutical skincare products. The anti-aging cosmeceutical products segment is one of the major contributors to this market in terms of revenue.
Global haircare cosmeceuticals market
The global haircare cosmeceuticals market is dominated by hair-fall control and anti-dandruff products. With the increasing levels of pollution across the globe in recent years, issues of hair loss and dandruff are growing among the general populace. Haircare cosmeceutical products help to provide relief from issues such as hair loss, itchy scalp, and dandruff. L’Oréal, Unilever, and P&G are the major manufacturers of haircare cosmeceuticals in the global space.
Global oral care cosmeceuticals market
The teeth whitening products segment is the major revenue contributor to the global oral care cosmeceuticals space. More than two-thirds of the market’s revenue comes from this category. The teeth whitening products category is offering tough competition to many leading oral care brands and has gained a significant share in the global oral hygiene market. Colgate-Palmolive, Unilever, and P&G are the major manufacturers of oral care cosmeceuticals in the global market.
Global make-up cosmeceuticals market
Lip and nail care products are the two major revenue contributors to the global make-up cosmeceuticals market. Together, these two categories control more than three-fourths of the market’s revenue. With the increasing demand for nail and lip make-up products with active ingredients such as anti-oxidants and SPF, manufacturers such as Beiersdorf and Unilever are now focusing on lip balm lines that are made with such active ingredients. NIVEA and Labello from Beiersdorf and Vaseline from Unilever are some of the major lip care cosmeceutical brands.
“Increase in personal disposable income in emerging countries such as China and India, has enabled consumers to spend a significant amount of their income on innovative beauty products such as cosmeceuticals,” says Poonam.
Global other cosmeceuticals market
Injectable cosmetics, bath products, and deodorants are the major categories under the other cosmeceuticals segment. These three together contribute more than four-fifths of the revenue generated in the global other cosmeceuticals market. Antiperspirants are the major products under deodorant cosmeceuticals.
The top vendors highlighted by Technavio’s consumer and retail research analysts in this report are:
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