Europe Cosmeceuticals Market Outlook 2031
The Europe cosmeceuticals market size was USD 46.31 Billion in 2022 and is expected to reach USD 95.63 Billion by 2031 expand at significant CAGR 8.39% during forecast period, 2023–2031. Growth of the market is attributed to increasing population, unhealthy lifestyles, and increased application of product.
The cosmeceuticals are products that have both therapeutic and cosmetic effects. Cosmeceuticals are expected to have a beneficial effect on beauty and skin health. It is used as lotions or creams and has an active material and compounds that impact on skin cell functions.
The Covid-19 pandemic affected the demand and supply of Europe cosmeceuticals market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Europe Cosmeceuticals Market Trends, Drivers, Restraints, and Opportunities
- Aging population and desire to stay healthy is projected to boost the market in the coming years.
- High per-capita income and consumer awareness is the major factor fueling the market in coming years.
- No strict regulation on cosmeceuticals enterprises is anticipated to restrict the market growth.
- High cost of the product is projected to hamper the market growth.
- R&D investment and technological advancement in cosmeceuticals products is projected to create lucrative opportunities for the market players.
Scope of The Europe Cosmeceuticals Market Report
The report on the Europe cosmeceuticals market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Cosmeceuticals Market – European Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types [Lip Care, Skin care (Anti-acene, Anti-ageing, Moisturizers, Sun Protection, and Other Skin Care Product Types), Oral Care, Hair Care (Hair Dyes and Colorants, Conditioners and Shampoos, and Other Hair Care Product Types)] and Distribution Channels [Online Retail, Supermarket/Hypermarket, Specialist Stores, Convenience Stores, and Others]
Europe (United Kingdom, Germany, France, Russia, Italy, Spain, and Rest of Europe)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players covered in the Report
Bayer AG, Shiseido Co. Ltd, L’oreal SA, Procter and Gamble, Unilever PLC, Avon, Johnson and Johnson, Beiersdorf, Merz Pharma, and Estee Lauder
Europe Cosmeceuticals Market Segment Insights
The skin care segment accounts for key share of the market and expected to grow at a rapid pace
Based on types, the Europe cosmeceuticals market is segregated into lip care, skin care, oral care, and hair care. The skin care segment is sub-segmented into anti-acene, anti-ageing, moisturizers, sun protection, and other skin care product types. The hair care segment is sub-segmented into hair dyes and colorants, conditioners and shampoos, and other hair care products types.
The skin care segment accounts for a key share of the market. The hair care segment is anticipated to expand at a rapid pace during the forecast period due to factors such improved standard of living and consumer awareness through media.
The online retail segment is anticipated to hold a major market share
On the basis of distribution channels, the Europe cosmeceuticals market is segmented into online retail, supermarket/hypermarket, specialist stores, convenience stores, and others. The online retail segment is estimated to expand at a robust CAGR during the forecast period.
In online retail users can sell their services and products to the customers on online platform in any part of the world. The customer can find services and products on social media platform such as Twitter, Facebook, Instagram, and other social media platforms.
The market in Germany is projected to dominate the market
On the basis of geography, the Europe cosmeceuticals market is categorized as United Kingdom, Germany, France, Russia, Italy, Spain, and Rest of Europe. The market in Germany is projected to dominate the market due to factors such as high disposable income, desire to look young, and aging population.
The Europe cosmeceuticals market has been segmented on the basis of
- Lip Care
- Skin Care
- Sun Protection
- Other Skin Care Product Types
- Oral Care
- Hair Care
- Hair Dyes and Colorants
- Conditioners and Shampoos
- Other Hair Care Product Types
- Online Retail
- Specialist Stores
- Convenience Stores
- United Kingdom
- Rest of Europe
- Bayer AG
- L’oreal SA
- Shiseido Co. Ltd
- Procter and Gamble
- Unilever PLC
- Johnson and Johnson
- Merz Pharma
- Estee Lauder
Key players competing in the Europe cosmeceuticals market includes Bayer AG, Shiseido Co. Ltd, L’oreal SA, Procter and Gamble, Unilever PLC, Avon, Johnson and Johnson, Beiersdorf, Merz Pharma, and Estee Lauder
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and rise their production line of the business in the coming year.