The global active cosmetics market is estimated to be valued at US$ 10.08 billion 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 cosmetic products contain ingredients like anti-oxidants, vitamins, peptides and other specialty ingredients that provide extra skincare benefits over and above basic moisturization. They help improve the look and feel of the skin, reduce signs of aging and other skin concerns. The growing demand for multifunctional, results-oriented cosmetic products is driving the active cosmetics market.
Market key trends:
One of the key trends spurring market growth has been the rising popularity of natural and organic active cosmetic products. Consumers are increasingly preferring cosmetics made from natural extracts, plant-based ingredients and essential oils over products containing synthetic, potentially harmful chemicals. They believe natural formulations to be safer and more suitable for sensitive skin types. This has encouraged mainstream personal care brands to introduce natural and organic lines of active cosmetics catering to this demand.
Strength: Active cosmetics contain active ingredients that provide essential benefits to the skin like anti-aging and skin rejuvenation. They help improve various skin conditions.
Weakness: They are more expensive than regular cosmetics due to the inclusion of high-quality and effective ingredients. Some active ingredients may cause side effects in sensitive skin types.
Opportunity: Rising consumer awareness about the benefits of active ingredients is driving the demand. Increasing spending power and improved lifestyles also support the market growth.
Threats: availability of cheaper alternatives from local producers and intense competition from existing and new market players.
The Global Active Cosmetics Market Size is expected to witness high growth, exhibiting a CAGR of 12% over the forecast period, due to increasing consumer preference for skincare products offering specific functional benefits.
The active cosmetics market in Asia Pacific is expected to exhibit the fastest growth during the forecast period. Growth in this region can be attributed to rising consumerism, improving living standards, and increasing disposable incomes in countries such as China, India. North America currently dominates the global market owing to presence of leading brands and rising health and wellness trend in the region.
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. L’Oreal, Estée Lauder and Shiseido captured over 30% of the global market share in 2021. Focus on product innovation and expansion in emerging markets will be the key strategies adopted by leading players to increase their market presence.