Cosmetics and pharmaceuticals together make
cosmeceuticals. A cosmeceutical has the active potential ingredient
to bring about visible changes to the skin, and these changes are
backed by clinical indication. Cosmeceutical products are marketed as
cosmetics, though they comprise biologically active ingredients that
provide medicinal or drug-like properties. For example, anti-wrinkle
skin creams includes ingredients such as alpha lipoic acid and
dimethylaminoethanol and creams containing cellular replacement serum
that claim to have anti-aging properties. The cosmetic industry
coined the term, though the US FDA does not recognize the term
cosmeceuticals. A cosmetic product will effectively maintain skin
quality by providing somewhat temporary results. It may contain
active ingredients, though concentration of these actives is usually
negligible. A cosmeceutical product differs from such cosmetic
products, as it has a high concentration of active ingredients and
usually comprises various active ingredients. This formulation can
bring about visible changes to the skin making it a results-focused
product. Cosmeceutical products are restricted to professional skin
care vendors where a consultation can be provided.
The cosmeceuticals market includes a large
category of cosmetic products that have drug-like benefits. Varity of
cosmeceuticals products available in the market include lip care,
skincare, tooth whitening, hair care, injectable and others. The
skincare segment holds a prominent share and is followed by hair care
segment. In the skincare segment, anti-ageing products are most
popular and hence, gross maximum revenue.
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Cosmeceuticals Market Outlook: Developed
Regions Still Offer Lucrative Growth Opportunities
The global cosmeceuticals market is expected to
witness strong growth over the forecast period, owing to rising
consumer awareness regarding the benefits of cosmeceuticals. Among
all regions, North America is projected to contribute the highest
market share, followed by Europe throughout the forecast period. The
well-developed healthcare infrastructure and high per capita income
in the U.S., drives growth of the cosmeceuticals market size. The
Asia Pacific market in cosmeceuticals is projected witness highest
growth during the forecast period, due to large middle-aged
population (the largest demographic group in the market) and
increasing disposable income in this region. In Asia Pacific region,
Japan is expected to contribute largest market share and to exhibit
with highest growth, followed by China.
Increasing inclination towards maintaining
personal aesthetics and increasing number of urban population
together with rising consumer awareness related to benefits of
cosmeceuticals
Integration of advanced technologies such as
nanotechnology, plant stem cell technology, and the development of
new active ingredients are spurring growth of the global
cosmeceuticals market. Large middle age population and baby boomer
generation are inclined towards maintaining their personal aesthetic
appeal, in turn fueling growth of the global cosmeceuticals industry.
Furthermore, development of new active ingredients will create
opportunities for global market. A major factor that restraints
growth of the cosmeceuticals market is growing consumer awareness
related to harmful effects of ingredients used in cosmeceuticals.
In cosmeceuticals, only Federal Trade Commission
(FTC) works to scrutinise any advertised claims of pharmaceutical
products or scientific validity. Opportunities in cosmeceutical
market development are those that provide protection of skin from
radiation and also oxidant damage by non-irritating ingredients which
improve skin appearance.
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Cosmeceuticals Market Taxonomy
On the basis of product type, the cosmeceuticals
market is classified into:
-
Skin Care
-
Hair Care
-
Injectable
-
Cosmeceuticals Products
On the basis of ingredient, the cosmeceuticals
market is classified into:
-
Antioxidants
-
Proteins
-
Peptides
-
Botanicals
-
Moisturizers
Key players operating in the global cosmeceutical
market include Croda International Plc, Bayer, Procter & Gamble,
Beiersdor, Johnson & Johnson, Shiseido, Elementis, Unilever,
L'Oréal, and Avon.
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