Emerging Prospects of Plant-based Cosmeceuticals In the Beauty and Skincare Industry
Market key trends:
The global cosmeceutical market has been witnessing increasing demand for anti-ageing products owing to rising aging population across the globe. Consumers today are more aware of the skin concerns and want products focusing on specific issues such as dark spots, fine lines, wrinkles etc. The emergence of social media has also driven selfie culture which has elevated the demand for cosmeceuticals products that can enhance appearance. Innovation in delivery systems and formulations is another key trend as companies are launching products having active ingredients that are easily absorbed in the skin.
Key Takeaways
The Global Cosmeceutical Market Size is expected to witness high growth, exhibiting CAGR of 9.02% over the forecast period, due to increasing urbanization and rising disposable income. The Asia Pacific region dominated the market with highest market share in 2023owing to increasing consumer spending on personal care products in countries like China and India.
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