Synthetic cosmetics are effecting the consumers due to the lack of sustainability and skin problems. Consumers are there for preferring natural product which are expected to be more efficient and solve the skin issues without any side effects. Changing lifestyles and poor food habits among young generation leading to premature aging is driving
the need for more beauty products with health benefits. Emerging need for multi- functional products by both consumers and manufacturers resulting in reduced purchased of extra raw materials, which is very economical besides occupying less floor space. For example cationic micro emulsion of amino functional silicone is designed for a wide range of hair care products such as shampoos conditioners and colorants.
Rising women employment rate and therefore increase in affluent women population in the countries is anticipated to drive the cosmeceuticals market manufacturers to develop new products with improved injectable, such as solid HA fillers. Skin lotions and moisturizers, deodorants and perfumes, eye and facial make-up preparations, oil, soaps and shampoos, hair colors, toothpastes, injectable and materials use as a component of a cosmetic product are part of cosmeceuticals. Global warming aiding sunscreen creams market is anticipated to influence the demand for cosmeceuticals. Increase in environmental pollution, exposure to solar radiation, people are becoming more aware of personal care products and prefer cosmeceuticals, which can provide essential ingredients and nutrients rather than cosmetics. Nanotechnology has played an important role in driving the cosmeceuticals market cosmeceuticals market growth. Using new techniques to at an atomic or level, have been the root of numerous advancements, for the future of industry. These technologies offer the advantage of variety in products, and increase bioavailability of active ingredients and enhance the aesthetic appeal of the products. However, increased use of nanotechnology in has raised concern about the possible penetration of nanoparticles through the skin and poses a potential danger to the human health.
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High cost of branded cosmeceutical products poses a challenge to the market growth. Higher investment in research and development, costs of raw materials procurement and availability of professional expert in the industry increases the price of the products limiting the consumer purchasing power. Cosmeceutical market is segmented based on its applications, which include, hair care, skin care and injectable. Skin care is the largest application segment followed by hair care. Anti-ageing creams, sunscreen, anti-acne and skin whitening products are sub segments in skin care market. Anti-ageing product accounts for majority share in the skin care segment. This can be attributed to the increasing desire by the consumers to have a youthful and radiant skin. Injectable segment is expected to witness maximum growth over the forecast period due to the growth in biologics market and awareness of dermal fillers.
Asia Pacific cosmeceuticals market is the largest and also expected to be the fastest growing market, the major reason being high disposable income, increasing beauty conscious consumers. Europe and North America are estimated to grow steadily with technological advancements and launch of new products in this cosmeceuticals market. The expansion in preferences in for hair care and skin care by Korean men and women intensified the overall demand in this country. Japan Is expected to observe higher growth in anti-ageing skin care products. Rapid product innovation and aging baby boomers generate strong growth of cosmeceuticals market in North America. Major players in the