Technavio, a tech-focused market research firm, has published a new report on the global cosmeceuticals market, which is expected to experience a slow but steady growth rate with a CAGR of close to 2% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global cosmeceuticals market for 2017-2021, considering 2016 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global cosmeceuticals market into the following key regions: The Americas, APAC, Europe, and MEA.
Geographical segmentation of the global cosmeceuticals market for 2016 (market share %)
|
Americas |
38.76% |
|
Europe |
36.44% |
|
APAC |
20.41% |
|
MEA |
4.39% |
Source: Technavio
The Americas: largest revenue generating region for cosmeceuticals
The global cosmeceuticals market in the Americas was valued at around $22 billion in 2015 and is expected to grow at a CAGR of more than 6% by 2020. The increasing awareness and adoption of premium cosmeceuticals products will drive the growth in the American market. The US will contribute the highest revenues in the market for this region. Premium skin care products are gaining traction in the market because of benefits associated with these merchandises. The demand for anti-aging, facial serums, face oils, and skin lightening creams will increase the adoption of anti-aging cosmeceuticals during the forecast period. The vendors are introducing natural and organic cosmetics to meet the requirements of the consumers.
“The American market is observing the preference for personal grooming products from the male consumers, which has resulted in the increased demand for cosmeceuticals in the region. The market is driven by the growing demand for shaving creams, gels, and foams, and after shaving products with active ingredients. It is estimated that the sale of premium cosmetic items will increase in Latin America during the forecast period with Brazil being the top consumer of these products,” says Poonam Saini, a lead analyst at Technavio, specializing in research on cosmetics and toiletry.
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Cosmeceuticals market in Europe
The global cosmeceuticals market in Europe was valued at over $19 billion in 2015 and is expected to grow at a CAGR of almost 5% by 2020. The implementation of strategic marketing initiatives by the various players will result in the development of the market in this region. Social media campaigns and celebrity endorsements are two of major marketing initiatives undertaken by the vendors in the region. The growing number of fashion-conscious consumers has been driving the sales growth of cosmeceutical products in this region. The new product launches and product innovations will help the companies in the European market to create a stronger consumer base. The manufacturers in the market are concentrating on developing products with high value-added benefits and natural ingredients.
Cosmeceuticals market in APAC
The global cosmeceuticals market in APAC was valued at around $12 billion in 2015 and is expected to grow at a CAGR of more than 7% by 2020. The increasing consumption of an affordable premium range of skincare, haircare, and make-up cosmeceuticals among the middle-income class will make APAC the fastest growing region in the global market. The rising disposable income is enabling consumers to spend more on beauty products with medicinal benefits. Some of the products available in the APAC market include skin moisturizing, anti-aging benefits, blemish and acne treatments, wrinkle removal, sunscreen effects, and shaving treatments such as pre-shave oils, post-shave soothers, and aftershave balm. India, China, Japan, Australia, and South Korea will account for the highest revenue generating countries in the market.
Cosmeceuticals market in MEA
The global cosmeceuticals market in MEA was valued at over $2 billion in 2015 and is expected to grow at a CAGR of more than 4% by 2020. Countries like the UAE, Saudi Arabia, Egypt, and South Africa will emerge as the key revenue contributor in this market during the forecast period. The demand for premium products with value-added benefits is driving the growth of the market in this region. Various international brands are planning to expand their business to this region over the period of next four years.
The top leading vendors operating in the global cosmeceuticals market are:
- Beiersdorf
- L’Oréal
- P&G
- Shiseido
- Unilever
Other prominent vendors in the market include Amway, AVON Beauty Products, Burberry, INVERSIONES AVI AMERICA, Chanel, Chatters Canada, Clarins, Combe, Conair, Coty, Edgewell Personal Care, Henkel, Helen of Troy, Johnson & Johnson, Kao, LVMH, Mary Kay, O Boticário, Revlon, Tom’s of Maine, and World Hair Cosmetics (Asia).
A more detailed analysis is available in the Technavio report titled, ‘Global Cosmeceuticals Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Personal Care Ingredients Market 2016-2020
- Global Flavors and Fragrances Market 2016-2020
- Global Cosmetic Preservatives Market 2016-2020
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