February 23, 2024
Active Cosmetics Market

The Rising Concern For Skin Diseases Projected To Boost The Growth Of Active Cosmetics Market

Market Overview:

The global Active Cosmetics Market is estimated to be valued at US$ 10.08 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Active cosmetics contain active ingredients that target specific skin conditions like aging, sun damage, acne, and other skin problems. They perform specialized functional benefits beyond the basic moisturization provided by regular cosmetic products. Some common active ingredients include antioxidants, peptides, retinoids, alpha-hydroxy acids, and hyaluronic acid. These products help treat various skin issues, reducing signs of aging, improving skin texture and tone, and providing anti-acne benefits. The rising concern over premature aging and various skin diseases is fueling the demand for active cosmetic products globally.

Market key trends:

One of the key trends in the active cosmetics market is the growing demand for natural and organic active ingredients. Consumers are increasingly preferring products containing plant-based active components that are derived naturally. This is prompting manufacturers to focus on developing organic cosmetic formulations containing active botanical extracts. Another trend gaining traction is personalized active cosmetics. Various brands are offering customized product ranges and customized dosage of actives based on individual skin concerns and requirements assessed through skin analysis. This personalized approach is helping address specific skin issues better. Miniaturization of active cosmetics is another emerging trend, with the availability of travel-friendly packs and mini serums for on-the-go application.

Porter’s Analysis

Threat of new entrants: The active cosmetics market requires high R&D investments and regulations from bodies like FDA pose entry barriers for new players.

Bargaining power of buyers: Buyers have high bargaining power due to availability of substitute products and brands. They can easily switch to other brands.

Bargaining power of suppliers: Major suppliers like raw material producers have moderate bargaining power due to availability of substitute resources and suppliers.

Threat of new substitutes: Threat from substitutes like generic cosmetic products is moderate as branded products have strong customer loyalty and new brand promotions.

Competitive rivalry: The market is highly competitive with top players differentiating through extensive R&D and new product launches.

Key Takeaways

The Global Active Cosmetics Market Size is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing consumer awareness about anti-aging products. The market size is projected to reach US$ 20 Bn by 2030 from US$ 10.08 Bn in 2023.

Regionally, North America dominates the active cosmetics market led by US and holds around 30% share. Growing geriatric population demanding anti-aging solutions drives the North America market. Asia Pacific is the fastest growing region on back of rising incomes in major countries like China and India.

Key players operating in the active cosmetics market are L’Oréal,Estée Lauder Companies,Procter & Gamble,Shiseido,Beiersdorf,Coty,Unilever,Avon Products,Johnson & Johnson,Natura & Co. Players are launching new anti-aging, skin lightening and hydrating formulations to strengthen product portfolios and market share.

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