Cosmeceuticals, also known as medical skincare products or functional cosmetics, are a special type of product that combines the characteristics of drugs and cosmetics. They not only have the functions of traditional cosmetics for beautifying the face, fragrance, and cleansing the skin but also have certain pharmacological effects, which can provide auxiliary treatment or care for certain skin problems.
The main difference between cosmeceuticals and regular cosmetics lies in their ingredients and efficacy. Cosmeceuticals usually contain certain medicinal ingredients, such as herbs, vitamins, minerals, etc., which can help the skin solve specific problems such as acne, pigmentation, sensitivity, aging, etc. Ordinary cosmetics, on the other hand, focus more on modifying and maintaining the skin, with fewer or no medicinal ingredients.
Overview of the Market Development
Due to the increasing attention of consumers towards skin health and the influence of technological innovation, the global market size of cosmeceuticals has been steadily growing in the past few years. According to our research data, the total size of the global cosmeceutical market is expected to reach $63.30 billion in 2024, an increase of 8.17% compared to 2023. It is expected that the market size will continue to increase to $93.64 billion by 2029.
Analysis of Competition Pattern
From the perspective of market competition, the concentration of the global cosmeceutical market is moderate. According to the data, the total output value of cosmeceuticals by the top 3 companies in 2023 was $22.19 billion, with a total share of output value of 37.92%. The top three companies were Unilever, Procter & Gamble, and Johnson & Johnson. In 2023, these three companies accounted for 15.57%, 12.77%, and 9.58% of the global market share in the production value of their cosmeceuticals.
Global Cosmeceutical Market Size Forecast and Competition Pattern Analysis
Source: www.globalmarketmonitor.com
Segmented Market Analysis
According to their different functional roles, cosmeceuticals can usually be classified into skin-care cosmeceuticals, hair-care cosmeceuticals, and oral-care cosmeceuticals. Among them, skin-care cosmeceuticals dominate the market. According to data, the estimated size of the global skincare cosmeceutical segment market in 2024 is $41.66 billion, and the market share is expected to reach 65.82%.
From the perspective of downstream applications and sales channels, the application and sales channels of cosmeceuticals include beauty salons, multi-brand retail stores, online channels, supermarkets, and brand specialty stores. Among them, online channels account for the largest market share, with an estimated 21.71% in 2024.
Global Cosmeceutical Segment Market Size and Market Share Forecast in 2024
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Market Size (Billion USD)
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Market Share
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Segmented by Type
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Skin-careCosmeceuticals
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41.66
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65.82%
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Hair-careCosmeceuticals
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12.48
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19.72%
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Oral-careCosmeceuticals
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6.48
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10.23%
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Others
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2.68
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4.23%
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Segmented by Application
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Beauty Salons
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7.53
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11.89%
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Multi-brand Retail Stores
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9.47
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14.95%
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Online Channels
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13.75
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21.71%
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Supermarkets
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6.57
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10.38%
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Brand Specialty Stores
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10.50
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16.59%
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Others
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5.49
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8.67%
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Source: www.globalmarketmonitor.com
For more industry information, please refer to our latest released "2023 Global Cosmeceuticals Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".
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