Active Cosmetics Market Accelerated By Increasing Awareness Towards Skincare And Cosmetic Products
Active Cosmetics are cosmetic products infused with ingredients that provide an active function to the skin, such as moisturizing, anti-aging, sun protection, and improving the appearance of the skin beyond providing simple hydration. They are used to treat various skin conditions like acne, dullness, dark spots, wrinkles, and more. Some key active ingredients used in these cosmetics are retinoids, peptides, caffeine, niacinamide, and antioxidants like vitamins C and E. The global active cosmetics market is growing rapidly owing to the rising awareness about the benefits of these advanced skincare products. Consumers are more informed and looking for multi-functional cosmetic options that can treat various skin issues.
The global active cosmetics Market is estimated to be valued at US$ 11.62 Mn or Bn in 2024 and is expected to exhibit a CAGR of 9.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the major drivers fueling the growth of the active cosmetics market is the increasing awareness about skin and personal care through online content and social media. Rising disposable income is also driving consumers towards premium active cosmetic brands with natural and organic ingredients. Furthermore, changing lifestyles leading to high levels of stress are resulting in various skin conditions like acne, dark spots, and premature aging which is increasing the demand for targeted skincare cosmetic solutions. Lastly, manufacturers are increasingly investing in research and development to introduce novel delivery systems and ingredients that can provide multi-functional benefits to consumers.
SWOT Analysis:
Strength: The active cosmetics market is witnessing strong growth due to rising awareness about anti-aging cosmetic products. increasing demand for natural and herbal cosmetic products is another key strength. Moreover, advancements in active ingredients are supporting market growth.
Weakness: High costs associated with R&D activities for development of new active ingredients is a major challenge. Additionally, strict government regulations for approval of new cosmetic products limits scope of innovation.
Opportunity: Growing geriatric population susceptible to skin problems and sensitivity creates new opportunities. Furthermore, penetration of e-commerce retailers help companies to reach untapped regional markets. Innovation in delivery systems of active ingredients can further boost demand.
Threats: Intense competition among existing players may lead to pricing pressures. Also, availability of low cost substitutes especially natural alternatives pose threats. Unfavorable changes in trade policies can negatively impact profit margins.
Key Takeaways:
The Global Active Cosmetics Market Share is expected to witness high. The market size is estimated to reach US$ 11.62 Million in 2024 and projected to surpass US$ 28.69 Million by 2031, exhibiting a CAGR of 9.9% during the forecast period.
Regional analysis: North America dominates the global market and is expected to maintain its leading position over the forecast period. This is attributed to high spending capacity, awareness about anti-aging products, and rapid adoption of advanced cosmetic technologies. Asia Pacific exhibits fastest growth rate owing to increasing focus of key players, large population base, and rising cosmetic expenditure in China and India.
Key players: Key players operating in the active cosmetics market are Medtronic, Dexcom, Inc., Abbott, Novo Nordisk A/S, Ypsomed, GlySens Incorporated, and F. Hoffmann-La Roche Ltd., among others. Companies are focusing on new product launches, partnerships, and geographic expansion strategies to gain higher market share.
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