The active cosmetics market is estimated to be valued at US$ 9.36 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.
Active cosmetics comprises of skincare and haircare products that are enhanced with functional ingredients including vitamins, antioxidants, peptides and other active ingredients. These products provide additional benefits such as anti-aging, soothing, brightening and hydrating effects. The global population has become more aware about benefits of using cosmetics containing active ingredients that helps treat skin and hair related issues, thereby driving the demand for active cosmetics.
Market key trends:
One of the key trends fueling the growth of active cosmetics market is growing popularity of multifunctional and natural active ingredients. Consumers are looking for cosmetic products formulated with natural and plant-based active ingredients that provide multiple skin and hair benefits. Manufacturers are increasingly exploring new natural active ingredients derived from various plant and herbal extracts to develop innovative products. For instance, peptides are widely used active ingredients known to stimulate collagen production and promote anti-aging properties. Further, rising demand for organic and natural personal care products has led manufacturers to focus on developing naturally-sourced active ingredients.
The Global Active Cosmetics Market Growth is witnessing high owing to rising consumer awareness about skin care and increased demand for products that can reverse signs of aging. According to the American Academy of Dermatology, the anti-aging skin care market was valued at US$ 13 billion in 2020 and is projected to grow further. Additionally, increasing disposable income and growing middle-class population especially in developing regions is fueling market expansion. Moreover, changing lifestyles, rising pollution levels and excess sun exposure have increased various skin conditions like wrinkles, dark spots and dryness. This has amplified the demand for multi-functional cosmetic products offering anti-aging and regenerative properties. Furthermore, manufacturers are investing heavily in research & development to develop innovative ingredients and combinations that can provide superior skincare results. They are also focusing on natural and organic active ingredients to cater to the increasing demand for chemical-free products.
1. Source: Coherent Market Insights, Public sources, Desk research
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