Global Cosmeceuticals Market: Overview
The cosmeceuticals market involves the increasing category of cosmetic products that have drug-like benefits. These products are fast outpacing all other product segments in the personal care and cosmetics industry vis-à-vis growth rate. The different types of cosmeceuticals products available in the market include lip care, hair care, tooth whitening, skincare, injectable and others. Of these, the skincare segment holds a leading share and is trailed by hair care segment. In the skincare segment, anti-ageing products are most popular and hence gross maximum revenue.
The primary ingredients used in the manufacture of cosmeceuticals are botanicals, antioxidants, proteins, moisturizers, peptides, etc. Antioxidants, among them, clocks maximum revenue. Currently, specialty stores account for maximum sales. Going forward, aggressive marketing policies of manufacturers and distributers will lead to more uptake of the products worldwide.
A report by TMR Research shows conveys in-depth and accurate information on the global market for cosmeceuticals. It describes the scope of the market, segments it depending upon various parameters, and forecasts its growth trajectory. It furnishes a qualitative analysis of the prominent growth drivers and restraints in the market. The report also profiles important players in the market and leverages market leading analytical tools to gauge the current competitive dynamics.
Global Cosmeceuticals Market: Trends and Opportunities
With people worldwide becoming increasingly consciousness about their looks, the global cosmeceuticals market is primed for robust growth in the upcoming years. The rising number of middle aged people, a burgeoning urban population, and a fast-paced life are predicted to further drive demand in the market. Availability of a plethora of superior quality and premium priced cosmeceuticals products in the market has also been spurring growth.
Cosmeceuticals products are used for skin irritation, tooth whitening, skin lightening, and in a host of other things. Posing a roadblock to the growth path of the global market for cosmeceuticals is the rapid emergence of different treatment options. A key trend noticed in the global Cosmeceuticals market is the emergence and popularity of natural and organic products.
Global Cosmeceuticals Market: Regional Outlook
Geographically, the key segments of the global market for machine control system are Asia Pacific, North America, Europe, and the Rest of the World. The market is forecasted to clock impressive growth in the developed economies of Europe and North America. This is because of the penchant for looking younger among the inhabitants of the nations of France, the U.K., Germany, and the Netherlands, among others. Also fuelling demand in the two continents is the high spending capacity of the people and the aggressive marketing strategies of the companies.
In terms of growth rate, however, the Asia Pacific market is slated to gain the most. The market is highly lucrative on account of the fast-expanding developing economies in the region. Sensing an opportunity, most cosmeceutical brands are making efforts to make inroads in the Asia Pacific. The e-commerce boom in the region has made it easier for people to purchase quality products of renowned brands. Further, the rising fortunes of the middle class with a discerning taste, particularly in the countries of India, China, Russia, and Brazil will predictably further stoke growth in the cosmeceuticals market.
Companies Mentioned in the Report
To present a detailed analysis of the competition prevailing in the global market for cosmeceuticals, the report profiles companies such Unilever Group, Procter & Gamble, Allergan Inc., Colgate-Palmolive, BASF SE, Arch Chemicals, and Croda International.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.