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(Health-NewsWire.Net, November 23, 2021 ) Europe Cosmeceuticals Market size is estimated at $16 billion in 2020, projected to grow at a CAGR of 7.1% during the forecast period 2021-2026. Europe Cosmeceuticals are cosmetics that contain substances with medical qualities. They're high in antioxidants, retinol, vitamin B and E, alpha-lipoic acid, hyaluronic acid, and polyphenols, all of which help to cleanse, beautify, and replenish cells. These products also protect the skin & hair from pollutants by skin care & hair care products, solar and ultraviolet (UV) radiation, and help to reverse the effects of ageing. Cosmeceuticals is not an FDA-approved term, the items supplied by the Cosmeceutical sector are classified as cosmetics by the FDA. These products are applied to the outside skin/scalp in the same way that cosmetics are, but they also contain additional substances that permeate the skin care and give necessary nutrients to support healthy skin care and hair care growth. Continuous R&D and advances in Cosmeceutical products are driving forces behind the global market's expansion. This factor would have a positive impact on the demand for Europe Cosmeceuticals industry.
Europe Cosmeceuticals Market Segment Analysis – By Product Type:
Based on Product Type, Skin Care (Anti-ageing, Anti-acne, Sun Protection, Moisturizers and Others) segment accounted for the largest revenue market share in 2020. This is majorly attributed to its diverse applications, rising demand for face creams, sunscreens, and body lotions is expected to have a favorable impact on the segment growth. Over the last few years, as people have become more aware of the different benefits of utilising personal care, skin care products, demand has increased. Natural and organic skincare products have become a key area in the cosmetics industries as a result of this. Injectable predicted to grow with the fastest CAGR of 7.9% in the forecast period 2021-2026. In recent years, there has been an increase in demand for face injectables due to a greater focus on physical attractiveness among consumers. Invasive procedures are gradually being replaced with minimally invasive surgeries, which is a driving factor for the segment's future growth, thereby aiding growth to the Europe Cosmeceuticals Industry.
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Europe Cosmeceuticals Market Segment Analysis – By Distribution Channel:
Based on Distribution Channel, E-Commerce segment has accounted for largest revenue market share in the year 2020 owing to the increasing buyer population regionally associated by its healthcare owing towards ease of availability of a wide selection of products in various types, quantity and uses as in various applications like skin care & hair care given by all brands at reasonable discounts. The growing number of smartphone and internet users is the primary driver of sector growth. These businesses give cash back and home delivery services, which contribute to the market's growth. Furthermore, as retail outlets are expected to have fewer consumer visits until the epidemic ends, the main corporations are viewing e-commerce as an opportunistic part of the industry. As part of its strategic e-commerce growth goals for Europe, skin care companies such as Olay have joined with Shopee for a new digital campaign targeted at the millennial consumer group. Major firms, such as Nyka, are teaming up with online retailers to expand their consumer base for skin and hair care products. They also establish online portals and websites to encourage market expansion and improve product sales, which drives the European cosmetics industry. Pharmacy/Drug Stores are anticipated to grow with the fastest CAGR of 7.4% in the forecast period 2021-2026 owing towards increasing demand for medicinal properties in cosmeceutical products, resulting in segment growth.
Europe Cosmeceuticals Market Segment Analysis – By Country:
Based on Country, Germany Europe Cosmeceuticals Market accounted for the 31% revenue share in 2020 owing to the strong adoption of consumer products such as cosmetics and apparel, skin care & hair care, the United Kingdom is likely to dominate the industry. The increased awareness of cosmeceutical products in this region is due to strong promotional operations by cosmeceutical manufacturers. According to the 2018 International Society of Aesthetic Plastic Surgery (ISAPS) study, Germany ranked fifth with 922,056 cosmetic surgeries and procedures performed. The producers are focusing on the youth as they continue to be drawn to preventative and curative treatments aimed at preventing the early indications of ageing, acne, and a variety of other ailments. UK is predicted to be the fastest growing region during the forecast period 2021- 2026 as the manufacturers in this region are focusing on developing the acne products which drive demand for Europe Cosmeceuticals Industry.
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Europe Cosmeceuticals Market - Drivers
The Growing Product Demand form Ageing Population:
Consumers, particularly the elderly, are increasingly seeking ways and goods like skin care and hair care to maintain and improve their appearance in order to remain youthful and beautiful, especially as awareness of anti-ageing treatments grows. Due to the high incidence of external indicators of ageing, middle-aged adults are increasingly experiencing ageing anxiety. Cosmeceuticals are anti-aging skin care products that blur the lines between cosmetics and medications. For instance in 2020, more than one fifth (20.6 %) of the EU population was aged 65 and over which directly impacts the revenue for the Europe Cosmeceuticals industry.
Europe Cosmeceuticals Market - Challenges
Side-Effects Associated With Ingredients:
The adverse effects of ingredients along with FDA regulations on private labels are two factors that constrain the Europe Cosmeceuticals market's development. However, several of the substances used in cosmeceuticals may have negative side effects, which is projected to slow the market's growth, are major market constraints. Animals such as rats, rabbits, and guinea pigs are also employed to make anti-inflammatory, anti-microbial, anti-tumorigenic, and other cosmeceuticals, according to the article which hampers the market development.
Europe Cosmeceuticals Market - Landscape:
The Europe Cosmeceuticals Market's main strategies include product launches, mergers and acquisitions, joint ventures, and regional expansion. Europe Cosmeceuticals Market top 10 companies are Beiersdorf AG, CosMedix., Loreal International, Laboratoires VIVACY, NATUMIN PHARMA AB, Robert Blondel Cosmtiques, SkinCeuticals., The Este Lauder Companies Inc., The Procter Gamble Company and Unilever.
Acquisitions/Product Launches:
The Procter & Gamble Company purchased DTC brands in January 2020. This acquisition allowed P&G to expand its business into new areas, adopt new marketing techniques such as performance marketing, and restructure its brand teams to more closely resemble startups.
Key Takeaways
Europe Cosmeceuticals Market growth is being driven owing to rising health consciousness and customer demand for topical skin care products to heal wounds and restore skin damage caused by prolonged sun exposure.
Regionally, Germany Cosmeceuticals Market held the largest revenue share of 31% in 2020 owing to the growing customer preference for various applications in the region. The scope of the Europe Cosmeceuticals Market for various regions will be provided in the final report.
As a result of the increased customer concern about maintaining a youthful appearance, demand for cosmeceuticals products has skyrocketed.
As a consequence of technological advancements, new active ingredients have been introduced, which is expected to drive the cosmeceuticals market in Europe.
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