Current Trends Shaping the Anti-Acne Cosmetics Market in 2024
The global anti-acne cosmetics market is witnessing significant growth owing to the increasing popularity of acne-fighting skincare and makeup products among teenagers and young adults. Consumers are increasingly adopting anti-acne cosmetics such as face washes, toners, serums, creams, masks, and concealers to treat acne effectively. These products contain ingredients like benzoyl peroxide, salicylic acid, tea tree oil, and aloe vera that help clear acne by killing bacteria and reducing inflammation. Moreover, multi-tasking formulas remove acne-causing dirt and oil from pores while also hiding blemishes and marks. The convenient usage and visible results have made anti-acne cosmetics a preferred choice over topical medications for treating mild to moderate acne.
The Global Anti-acne Cosmetics Market is estimated to be valued at US$ 2591.87 Mn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the anti-acne cosmetics market are Clinique Laboratories, LLC., Neutrogena, Ancalima Lifesciences Ltd., Guthy-Renker, Murad Inc, L'Oréal S.A., The Mentholatum Company Inc., Kosé Corporation, and Galderma Laboratories LP.
The rising millennial population suffering from acne and an increasing desire to look after facial appearances are fueling the demand for anti-acne cosmetic products globally. Young consumers are more comfortable using beauty products rather than oral medications to treat acne due to fewer potential side effects.
The anti-acne cosmetics market is witnessing robust growth in developing regions like Asia Pacific, Middle East, and Latin America. Key companies are actively expanding their product offerings and distribution networks in high-growth markets to capitalize on new opportunities. E-commerce has also opened new grounds for market players to serve customers across the world.
Market Key Trends
The rising adoption of organic and natural anti-acne cosmetics formulated with plant-based ingredients like aloe vera, tea tree oil, neem, and turmeric is one of the key trends observed in the market. Consumers are increasingly preferring natural formulations considering their fewer side effects and suitability for sensitive skin.
Another noteworthy trend gaining traction is the growing popularity of BB, CC, and DD creams that offer lightweight coverage while also regulating oil and treating acne-prone skin. Their multitasking nature has made them popular among teenagers and young working professionals.
Porter's Analysis
Threat of new entrants: New companies find it difficult to enter the industry as existing brands have strong brand loyalty and recognizable names.
Bargaining power of buyers: Buyers have moderate bargaining power due to the presence of numerous options from different brands.
Bargaining power of suppliers: Suppliers have moderate to high bargaining power due to reliance on raw materials.
Threat of new substitutes: Alternative treatments and products pose a threat, though there are no perfect substitutes for anti-acne cosmetics.
Competitive rivalry: Competition is fierce between major global brands to capture higher market share.
Geographical regions
North America accounts for the largest share of the anti-acne cosmetics market owing to high consumer awareness and busy lifestyles leading to stress-related breakouts. Factors such as evolving living standards and growing youth population are propelling the Asia Pacific market at a rapid pace.
Fastest growing region
The Asia Pacific region is poised to witness the highest growth in the anti-acne cosmetics market during the forecast period. Rising consciousness about beauty and appearance along with increasing disposable incomes in developing countries like India and China are augmenting the demand. Furthermore, growing online retail platforms are making these products more easily accessible in remote areas.
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