Anti-acne Cosmetics Market Growth Driven by Innovative Product Launches
The global anti-acne cosmetics market size is expected to reach USD 8.91 billion by 2030, registering a CAGR of 9.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. The high psychological burden associated with acne, especially among women, is expected to be the key growth-driving factor for the market. Moreover, the easy availability of various products to treat acne is anticipated to support the market growth. According to the American Academy of Dermatology, it is one of the common skin disorders in the U.S., affecting approximately 50 million individuals every year, with nearly 85% of individuals between the age group of 12 and 24 years having minor acne. Thus, a high prevalence of this skin disorder is also anticipated to fuel the product demand, thereby augmenting the market growth.
Furthermore, according to a study conducted by SkinStore, an average American woman uses nearly 16 skincare products per day and spends approximately USD 8 each day on facial cosmetics products. Such beauty regimes are also anticipated to propel market growth. According to a University of Limerick study, the negative social stigma associated with this skin disorder reduces the quality of life of individuals, increases their psychological distress, and causes physical problems, such as headaches, sleep disturbance, and gastrointestinal issues. This is also anticipated to increase the product demand over the coming years.
Gather more insights about the market drivers, restrains and growth of the Global Anti-acne Cosmetics Market
Anti-acne Cosmetics Market Report Highlights
- The creams & lotions segment accounted for the maximum share of 41.55% of the overall revenue in 2022 as the cream is the first line of therapy for all types of acne and it also provides skin moisturization
- The others product segment is expected to register the fastest CAGR over the forecast period due to the lightness of these products on the skin and compatibility with various skin types, as compared to creams & lotions
- The women anti-acne cosmetics segment dominated the global market in 2022 with a 52.8% share in terms of revenue and is expected to expand at the fastest CAGR of 9.3% over the forecast period., owing to a high prevalence of acne and other skin disorders
- Asia Pacific dominated the market in 2022 with a revenue share of more than 40% and is assessed to witness strong growth over the projection period, due to increasing disposable income levels and growing population in developing countries
Key Companies & Market Share Insights
Mergers and acquisitions are a key achievable methodology used by major players. For instance, L'Oréal is coordinating to get a handle on mergers and acquisitions in India to intensify its skin and make-up portfolio to meet the country’s developing demand for therapeutic products. In December 2020, L’Oréal announced the acquisition agreement for the Japanese company Takami Co. This company markets things authorized by the skincare brand Takami, claimed by Master Hiroshi Takami.
In another instance, Sun Pharmaceutical Industries launched the WINLEVI cream for the U.S. market in November 2021, for treating the problem of acne vulgaris in patients aged 12 years and above. WINLEVI is a first-in-class topical androgen receptor inhibitor that was approved by Food and Drug Administration (FDA) in August 2020. Also, Welly Health came up with a lotion treatment in February 2023, to treat major skin care problems of Millennial consumers.
List of Key Players in the Anti-acne Cosmetics Market
- PCA
- Obagi
- PHYTOMER
- SkinMedica
- Skinbetter Science
- Colorescience
- Sente
- Jan Marini Skin Research
- Revision Skincare
- The BeautyHealth Company
- Glowbiotics LLC
- Perricone MD
Order a free sample PDF of the Anti-acne Cosmetics Market Intelligence Study, published by Grand View Research.
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