TechNavio recognizes the following companies as the key players in the Global Cosmeceuticals Market: Beiersdorf AG, L’Oréal S.A., Procter & Gamble Co., and Unilever Group.
Commenting on the report, an analyst from TechNavio’s team said: “New ingredients such as extracts from plant stems and peptides are emerging in this market since there is a strong drive for cosmeceutical products among the consumers. Among the new ingredients, there is a high demand for organic and natural ingredients, as they are perceived to give better outcomes. Plant stem cells have been discovered as a natural ingredient for use in tropical skincare products. In addition, these ingredients do not just help in preventing, protecting, and repairing aging skin cells but also in replacing lost and damaged cells with new and healthy cells. Plant cells found in fruits such as apples, grapes, and pomegranates can enable rejuvenation and protection of the skin and they are hence used as active ingredients in products. Vendors are increasingly spending on R&D to discover better ingredients, which would help them produce better and more innovative products. Therefore, evolution of new ingredients is one of the key trends that is expected to contribute to the growth of the Global Cosmeceuticals market during the forecast period.”
According to the report, the Global Cosmeceuticals market is driven by several factors and one such driver is the growing urbanization and the increasing per capita expenditure in developing countries. Rapid urbanization and the increase in per capita expenditure have helped in increasing the purchasing power of consumers. As a result, consumers in developing countries are increasingly spending on health and hygiene products.
Further, the report states that one such challenge is the intense competition among the vendors. Due to the plethora of products available in the market for the consumers to choose from, vendors in this market are increasingly investing in the marketing and advertising of their products to create a desirable position in the minds of their consumers. Further, in order to influence consumers to buy their products and gain brand loyalty, vendors are nominating various brand ambassadors that would be able to communicate the desirable attributes about their products to the target audience. However, the huge investment required for such activities of marketing and promotion is posing a challenge to the vendors.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-cosmeceuticals-market-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/healthcare-chemicals-food-retail
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TechNavio Announces the Publication of its Research Report -Global Cosmeceuticals Market 2012-2016
