Cosmeceuticals Market Size to Register 8.7% CAGR Over 2023-2030; L’Oreal Announces Patent Filing for Digital Biomarker Detection System

The global cosmeceuticals market size was valued at USD 56.78 billion in 2022 and is projected to touch USD 63.59 billion in 2023. The market is expected to reach USD 114.32 billion by 2030, exhibiting a CAGR of 8.7% over 2023-2030.

Fortune Business Insights™ displays this information in its report, titled, “Cosmeceuticals Market Size, Share & COVID-19 Impact Analysis, By Product Type [Skin Care (Anti-Ageing, Skin Whitening, Sun Protection, Professional Skincare, Anti-Acne, and Others), Hair Care (Hair Growth, Anti-Dandruff, and Others), Injectable (Botulinum Toxins, Dermal Fillers, and Other Injectable), and Others (Lip Care, Tooth Whitening, Anti-Cellulite/Body Slimming Preparations, Oral Care)], By Distribution Channel [Pharmacy/Drug Stores, Online Stores, and Others], and Regional Forecast, 2023-2030”.

Cosmeceuticals refer to cosmetic formulations that consist of bioactive ingredients offering medical benefits to users. The incidence of skin disorders is increasing worldwide, and more dermatologists are recommending these products to their patients to help them solve their skin problems. These factors are expected to fuel the market growth.

Declined Hospital Visits Owing to Mobility Restrictions Plunged Market during COVID-19

The incidence of COVID-19 considerably obstructed the demand for cosmeceuticals globally. Substantial deterioration in the number of patient appointments registered by leading dermatologists and the closure of stores involved in the distribution of these products during the lockdown were a few of the main aspects impacting the market severely.

Waldencast Acquisition Corp. Announces Acquisition of Obagi and Milk Makeup

Waldencast Acquisition Corp., founded by former L’Oréal executives, recently finalized concurrent business partnerships with skincare brand Obagi and award-winning makeup and skincare brand Milk Makeup. These strategic alliances mark significant acquisitions in the cosmetics industry for Waldencast, showcasing their commitment to enhancing their portfolio and market presence.

Surging Inclination of General Population Toward Natural Products to Spur Demand for Cosmeceuticals

There is surging consciousness regarding the benefits of organic ingredients over conventional products, involving lesser side effects such as skin cracking and hair fall. Programs by chief market players to enhance awareness of organic products through numerous brand movements, along with the rising inclination of dermatologists toward recommending organic substitutes such as natural products for skin and hair care, are anticipated to augment the cosmeceuticals market growth.

Key Players Lead Fragmented Market, Emphasizing Skincare Expertise and Collaborative Strategies

The global industry is fragmented, with major players such as L’Oréal, Unilever, Estée Lauder Companies Inc., Procter & Gamble, and Shiseido Company Limited holding significant market shares. Their dominance is due to robust skincare portfolios, strategic collaborations, and efficient distribution networks, while domestic players hold varying market shares regionally.

Key Industry Development:

• July 2021: L’Oréal declared the filing of a patent for a new digital biomarker detection system that identifies medical signs of aging. This enhances awareness of skin aging among the general population combined with recommending tailored formulations and product endorsements.

List of Key Players Mentioned in the Report:

• L’Oréal (France)


• Estée Lauder Companies Inc. (U.S.)


• Beiersdorf (Germany)


• Shiseido Company Limited (Japan)


• Procter and Gamble (U.S.)


• Elementis Plc (U.S.)


• Avon (U.K.)


• Allergan (U.S.)


• BASF SE (Germany)


• Croda International Plc (U.K.)


• Unilever (U.K.)


• Coty Inc. (U.S.)


• Johnson & Johnson Services, Inc. (U.S.)


• Clarins (France)


• LVMH (France)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/cosmeceuticals-market-102521

Further Report Findings:

• Asia Pacific dominated the global market with a contribution of USD 23.25 billion in 2022, holding a dominant cosmeceuticals market share. This growth is attributed to the increasing focus of market players on strategic partnerships, emphasizing product launches and investing in digital infrastructure to enhance consumer appeal and product distribution.


• Based on product type, the market is segmented into skin care, hair care, injectables, and others. The skincare segment, further categorized into anti-ageing, skin whitening, sun protection, professional skincare, and anti-acne, dominated the market due to the rising adoption of personal care products and growing awareness of skin diseases among the general population.

Table of Segmentation: