Surging Demand for Skin-Care Products Power Active Cosmetics Market Growth
The Active Cosmetics Market is estimated to be valued at US$ 9.4 Bn in 2022 and is expected to exhibit a CAGR of 12.64% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis:
· Strength: Active cosmetics offer several skincare benefits such as anti-aging, reducing pigmentation, and improvement of skin tone. This increases their customer appeal.
· Weakness: Many new brands lack proper R&D infrastructure for product development and testing. This can impact product quality and safety.
· Opportunity: Rising health and wellness movement has fueled demand for skincare products with therapeutic benefits. This provides opportunities for brands to introduce effective anti-aging wrinkle creams, acne treatments etc.
· Threats: Stringent regulations associated with testing and launch of new cosmetic ingredients increase costs and timelines for brands. This threatens profit margins, especially of smaller players.
Key Takeaways:
The Global Active Cosmetics Market Demand is expected to witness high growth, exhibiting CAGR of 12.64% over the forecast period, due to increasing consumer preference for cosmetic products with skincare benefits.
The active cosmetics market size was valued at US$ 8.25 Billion in 2021. North America dominated the market due to rapid adoption of advanced skincare and hair care products for therapeutic benefits in the region. However, Asia Pacific is expected to be the fastest growing market owing to rising disposable income and growing awareness about self-care products in countries like China, India, and Japan.
Key players operating in the active cosmetics market are L’Oréal S.A. (France), Lucas Meyer Cosmetics (France), Pfizer Inc. (U.S.), Givaudan (Switzerland), Croda International Plc. (U.K.), Active Cosmetics Manufacturing (U.S.), and Symrise AG (Germany) among others. These players are focusing on new product launches with enhanced formulas, particularly incorporating organic and natural active ingredients.
Read More - https://www.zupyak.com/p/3897861/t/active-cosmetics-market-connected-with-key-active-ingredients-trends
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