May 22, 2024
Active Cosmetics Market

Active Cosmetics Market to Register Steady Growth on Account of Increasing Awareness Regarding Skincare and Cosmetic Products

The active cosmetics market comprises various skin care and cosmetic products that are infused with active ingredients to offer targeted skin care benefits. These products contain ingredients like antioxidants, peptides, retinoids, and exfoliants that help in improving various skin issues like signs of aging, hyperpigmentation, and acne. The growing focus of consumers towards appearance and personal care has driven the demand for advanced cosmetic solutions that can provide multi-beneficial effects to the skin.

The global active cosmetics market is estimated to be valued at US$ 11.62 Mn in 2024 and is expected to exhibit a CAGR of 9.9% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Active Cosmetics Market Growth are Medtronic, Dexcom, Inc., Abbott, Novo Nordisk A/S, Ypsomed, GlySens Incorporated, and F. Hoffmann-La Roche Ltd., among others. These players are focused on developing innovative formulations and expanding their geographic presence to leverage growth opportunities.

The growing awareness regarding skin health has prompted brands to develop effective active products infused with regenerative antioxidants, anti-aging peptides, and corrective solutions to address rising consumer demands. This presents lucrative opportunities for key players in the market.

Increasing spending ability and westernisation are encouraging international brands to foray into developing Asian and Latin American markets through strategic collaborations and marketing initiatives. This will help achieve volume-driven global expansion in the coming years.

Market Drivers

The rising disposable incomes and growing expenditure on personal care and cosmetic products, especially in middle-income demographic globally is a major driver. Consumers are increasingly willing to pay premium prices for functional products that offer multiple skin benefits and youthful appearance. This stimulates demand for active ingredients-based targeted solutions in the cosmetics market.

PEST Analysis

Political: Regulatory bodies guidelines regarding product quality, safety and efficacy affects the active cosmetics market. Stringent regulations regarding animal testing may hamper research and development.

Economic: Growing spending power and rising disposable incomes stimulate the demand for premium cosmetic products. However, economic slowdowns affect the discretionary spending of consumers.

Social: Increasing social media influence and focus on personal wellness and beauty drives the demand. Growing skincare and anti-ageing concerns encourage consumers to opt for result-oriented cosmetic products.

Technological: Manufacturers focus on product innovation leveraging latest technologies. Microencapsulation techniques help deliver active ingredients effectively. Advances in biotechnology aid development of safer and more effective formulations.

Geographical Regions of Concentration

The active cosmetics market in terms of value is highly concentrated in North America and Europe. Developed markets in these regions have high per capita cosmetic expenditures. Availability of advanced healthcare infrastructure and skilled professionals support widespread adoption of premium cosmetic brands. Growing health and wellness trends reinforce the demand.

Fastest Growing Region

Asia Pacific displays tremendous growth prospects for active cosmetics market. Factors like rising living standards, growing working women population and increasing social media influence are fueling the cosmetic industry’s expansion in the region. Countries like China, India and South Korea present lucrative opportunities due to rapid economic development and vast consumer base undergoing lifestyle changes. Manufacturers are eyeing these emerging countries to tap the potential.

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