The global cosmeceuticals market size was at USD 50.75 billion in 2021. The market is projected to grow from USD 54.57 billion in 2022 to USD 96.23 billion by 2029, exhibiting a CAGR of 8.4% during the forecast period. This information is provided by Fortune Business Insights, in its report titled, “Cosmeceuticals Market, 2022-2029.”
Cosmeceuticals refer to cosmetic products with bioactive ingredients meant to have medicinal benefits. It could be a drug, a cosmetic, or both. Like cosmetics, they are applied topically as creams or lotions but hold active ingredients that affect skin cell function. In remarkable cases, their action is restricted to the skin surface, while others can stick to more profound levels, each enhancing or restricting normal skin functions.
Request a Sample Copy of the Research Report: Cosmeceuticals Markethttps://www.fortunebusinessinsights.com/enquiry/sample/cosmeceuticals-market-102521COVID-19 Impacts:Declined Dermatology-related Appointments to Reduce Demand amid COVID-19 Pandemic
The advent of COVID-19 noticeably obstructed the demand for cosmeceuticals across the globe. Moreover, a significant drop in the number of patient appointments recorded by pioneering dermatologists combined with closing down of shops involved in distribution of these products amid the lockdown announced by governments is among the few primary reasons for impacting the market unfavorably. Furthermore, there were termination of elective procedures comprising medical aesthetic processes to avoid the spread of COVID-19 and declined patient crowding at specialty clinics involved in the beautification treatment.
Based on product type, the market is segmented into skin care, hair care, injectable, and others. The skin care segment is further segmented into anti-ageing, skin whitening, sun protection, professional skincare, anti-acne and others. The dominance of this segment resulted from the rising adoption of personal care products and the growing awareness of skin diseases in the general population.
The global market is segmented into pharmacy/drug stores, online stores, and others based on distribution channel.
In terms of region, the market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:https://www.fortunebusinessinsights.com/cosmeceuticals-market-102521About Us:
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