May 18, 2024

Active Cosmetics Market Set To Flourish Through Innovations In Product Development

Active cosmetics refers to skin care products that are enriched with therapeutic-grade or pharmaceutical-grade active ingredients to impart targeted skin benefits beyond basic moisturization. Commonly used active ingredients in anti-aging creams, acne treatments, sunscreens, and other skincare products include retinol, peptides, hyaluronic acid, vitamins C and E, glycolic acid, and salicylic acid. Advances in nanotechnology and encapsulation techniques have enabled manufacturers to deliver these potent actives deeper into the skin in a stable, non-irritating form. With the growing popularity of “clean beauty” and natural ingredients, plant-derived antioxidants and antimicrobials are also finding widespread use in active cosmetics. Furthermore, combination products offering two or more active benefits through a single application are gaining traction. Changing lifestyles and increased awareness about effective skincare is driving demand for multi-functional, result-oriented formulas.

The global active cosmetics market is estimated to be valued at US$ 11.62 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:
Innovations in product development is expected to drive growth of the active cosmetics market over the forecast period. Numerous manufacturers are focusing on R&D to introduce novel formulations that can deliver actives deep within the layers of the skin for better absorption and longer-lasting effects. For instance, technologies like lipid nanotransfersomes and nanoparticulate gel systems have enabled stable encapsulation ofhydrophilic ingredients like hyaluronic acid as well as lipophilic actives. Moreover, combinations of proven anti-aging compounds in one multi-tasking formula cater to modern consumer preferences for convenient, multi-benefit products. Another factor propelling the market is growing demand for natural active ingredients derived from plant and herbal sources. Consumers are increasingly opting for “clean label” cosmetics made from trusted botanical extracts like acai berry, green tea, and grape seed that impart skin-nourishing properties.

Segment Analysis
The Active Cosmetics Market Size is segmented into anti-ageing, sun protection, hydration and skin brightening products. The anti-ageing segment dominates the market with around 35% share owing to the increasing demand for bioactive ingredients based anti-ageing products among consumers of all age groups.

PEST Analysis
Political: There are no significant political impacts on the market currently.
Economic: Rising disposable incomes and growing middle class populations especially in developing countries contribute to market growth.
Social: Increasing focus on personal grooming and growing skin care awareness boost demand for active cosmetics products.
Technological: Advancements in delivery systems and extraction/fermentation techniques help manufacturers develop more effective skincare formulations.

Key Takeaways
The global active cosmetics market is expected to witness high growth over the forecast period of 2024 to 2031.

Regional analysis: North America dominates the market currently due to high consumer awareness and easy availability of premium brands. Asia Pacific is expected to witness fastest growth led by countries such as China, India and South Korea where increasing incomes are driving demand for effective skincare products.

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. Growth strategies adopted by leading companies involve new product innovations, strategic partnerships & collaborations and increased investments in emerging economies.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it