Functional Cosmetics Market was worth US$ 3.36 Bn. in 2022 and total revenue is expected to grow at a rate of 5.1% CAGR from 2023 to 2029, reaching almost US$ 4.76 Bn. in 2029.Functional Cosmetics Market Overview:
Nowadays functional makeups are among the fastest-rising beauty item group. This contains skincare, anti-aging, sun protection, hair care, and other elements. Also, an overview of natural elements in cosmetic preparations has led to the prompt development of functional cosmetics elements in the beauty industry. Functional cosmetic elements have certain properties affecting the procedure, scent & delivery method of the ending cosmetic product. Functional elements are inactive elements that make over-the-counter drugs work supplying major benefits to the skin & helping the performance of the active element. Functional cosmetic elements in skincare preparation are often considered vehicles for the delivery of active elements. The functional cosmetic market is anticipated to witness major growth during the forecast period due to the booming cosmetic industry throughout the globe.To know about the Research Methodology:- Request Free Sample Report
Market Drivers & Trends
The use of Cosmeceuticals has severely hiked through the previous year which in turn has expanded the range of items presented by cosmetic items companies thus powering the functional cosmetic elements market development during the forecast period. Growing usage of natural functional elements by cosmetic items makers is estimated to raise the sales forecasts of cosmetic items which are organic & natural therefore rising the market development during the forecast period. Moreover, the rapidly aging populace, increasing skincare problems coupled with increasing healthcare spending power through the globe is estimated to increase the market revenues in the worldwide cosmetic functional elements market development during the forecast period.Functional Cosmetic Market Regional Overview:
North America and Western Europe are estimated to account for major revenue shares in the total functional cosmetic market during the forecast period. Rising focus towards keeping personal aesthetics together with fast aging populace seeking to stay youthful, & growing desire of younger persons aiming to stave off the 1st signs of aging is estimated to fuel the market development of the cosmetic functional market during the forecast period. APAC & MEA nations are anticipated to generate major development opportunities in the total functional cosmetic market during the forecast period. The global cosmetic industry has been surprised by the Corona Virus pandemic. 1st quarter sales have been less, & there have been all store closures. The business has reacted positively to the pandemic, with brands changing their manufacturing to manufacture hand sanitizers & cleaning agents & proposing free beauty facilities for frontline reply workers. The industry’s key players have a duty to do their best to ensure that their businesses survive. The total beauty industry generates USD 500 Bn. in revenue a year & accounts for millions of employees. This report surveys the likely effects of pandemics on the cosmetic industry over the next 3 to 6 months. Then it discovers how the disaster could basically change the industry in the long term & how sellers, strategic companies, & investors can adapt. In numerous cases, it draws from the outcomes of an MMR Consumer Sentiment Study which took place in the year 2022. During the fiscal crisis in the year 2008, expenditure in the cosmetic industry only fell somewhat & fully bounced back by the end of 2010. Where & how cosmetic items are being sold in main cosmetic industry markets, the in-store shop holds for up to 85 % of cosmetic product purchases prior to the Corona Virus pandemic, with some difference by subcategory. Even online perception American people made close to 60 & of their buying in stores. With the shutting of best cosmetic -product stores as of Coronavirus pandemic, about 30 % of the cosmetic -industry market was closed. Some of these supplies will never open again, & new outlets will likely be postponed for at least a year. Improved online sales are not balancing the drop in shop sales. Some beauty product companies and suppliers with record & shipment processes are prepared to increase their online sales segment which is double their preCOVID-19 stages. Sephora’s United States online sales are evidently up 30 % than in the year 2019. In China, an MMR report study has seen online revenues for cosmetic industry competitors increase 20 to 30 % during the pandemic. These statistics are in line with what cosmetic product customers are reporting in MMR COVID-19 Customer Pulse Surveys. South Korea is one of the best Cosmetics markets at the global level, signifying about 2.8 % of the total market. In the year 2021, the market size was projected to be USD 9.4 Bn; the entire domestic production & total exports improved about 4.9 % & 4.2 % respectively from the last year. The market has developed by an annual growth rate of 4.3 % for the past five years.Unit USD Mn Total market size: Total domestic production – total exports + total imports
Cosmetic product sales at vital sellers are down. While brick-&-mortar pharmacies & grocery stores stay open, their consumer traffic & revenues have fallen. Between the month's March and April of 2021, United Kingdom pharm stores fell by 25 % of total sell. With Cosmetic item revenues paying to the decline. Measured UK customers say they are supposed to spend about 50 % less on Cosmetic items than normal in the next 2 weeks. In March 2021 shops are reopened in China and reports of revenge outlay, trades have not completely bounced back. As of mid-April, 90 % of pharma stores, superstores, and department stores in the Country had reopened. But, depending on the segment & type of store, traffic stays down 9 to 43 % compared with pre-COVID-19 stages. Mall-based outlets have been confirmed slower to recover. Even after reopening, about 60 % of big malls in-country report a 30 to 70 % drop in sales, YoY, in the 1st quarter of 2021. The digital sector stays to increase. Pre-COVID-19 trends will be expected to accelerate, with direct-to-customer e-commerce, like products websites, shoppable social-media panels, and marketplaces becoming more vital. Through the globe, customers show they are likely to rise their online meetings & spending. Cosmetic -industry companies will need to rank digital channels to capture & convert the attention of current & new consumers. On the processes side, the usage of artificial intelligence for testing, discovery, & customization will need to hurry as concerns about care & hygiene basically disrupt product testing & in-person sessions. The objective of the report is to present a comprehensive analysis of the Functional Cosmetics Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Functional Cosmetics Market dynamics, structure by analyzing the market segments and project the Functional Cosmetics Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Functional Cosmetics Market make the report investor’s guide.
2016 2017 2018 2019 Total Market Size 8129 8754 9370 9432 Total Local Production 11241 11950 13966 15959 Total Exports 4192 4372 6223 5600 Total Imports 1080 1176 1627 1073 Import From the U.S. 398 378 380 360 Functional Cosmetics Market Scope: Inquire before buying
Global Functional Cosmetics Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2017 to 2022 Market Size in 2022: US$ 3.36 Bn. Forecast Period 2023 to 2029 CAGR: 5.1% Market Size in 2029: US$ 4.76 Bn. Segments Covered: by Type • Alpha Hydroxy Acids (AHAs) • Beta Hydroxy Acid (Salicylic Acid) • Retinoid • Hyaluronic Acid • Vitamin C & E • Glycerin by Function • Cleansing Agent • Moisturizing Agent • Lightening Agent • Anti-aging Agent Functional Cosmetics Market, by Region
• North America (United States, Canada and Mexico) • Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) • Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) • Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) • South America (Brazil, Argentina Rest of South America)Functional Cosmetics Market key players:
• Unilever • BASF SE • Clariant AG • Croda International Plc • Evonik Industries AG • Gattefossé SAS • Givaudan SA • Lonza • Lucas Meyer Cosmetics • Nouryon • Seppic SA • Symrise AG • L'Oréal, Unilever • Procter & Gamble Co • The Estee Lauder Companies • Shiseido Company • Beiersdorf AG. Frequently Asked Questions: 1. Which region has the largest share in Global Functional Cosmetics Market? Ans: North America and Western Europe region held the highest share in 2022. 2. What is the growth rate of Global Functional Cosmetics Market? Ans: The Global Functional Cosmetics Market is expected to grow at a CAGR of 5.1% during forecasting period 2023-2029. 3. What is scope of the Global Functional Cosmetics market report? Ans: Global Functional Cosmetics Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Functional Cosmetics market? Ans: The important key players in the Global Functional Cosmetics Market are – Unilever, BASF SE, Clariant AG, Croda International Plc, Evonik Industries AG, Gattefossé SAS, Givaudan SA, Lonza, Lucas Meyer Cosmetics, Nouryon, Seppic SA, Symrise AG, L'Oréal, Unilever, Procter & Gamble Co, The Estee Lauder Companies, Shiseido Company, and Beiersdorf AG. 5. What is the study period of this market? Ans: The Global Functional Cosmetics Market is studied from 2022 to 2029.
1. Global Functional Cosmetics Market: Research Methodology 2. Global Functional Cosmetics Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Functional Cosmetics Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Functional Cosmetics Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1. M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.8.1. PORTERS Five Forces Analysis 3.8.2. PESTLE 3.8.3. Regulatory Landscape by region 3.8.3.1. North America 3.8.3.2. Europe 3.8.3.3. Asia Pacific 3.8.3.4. The Middle East and Africa 3.8.3.5. Latin America 3.8.4. COVID-19 Impact 4. Global Functional Cosmetics Market (Value/Volume) by region: 4.1. Global Functional Cosmetics Market, by Type 4.1.1. Alpha Hydroxy Acids (AHAs) 4.1.2. Beta Hydroxy Acid (Salicylic Acid) 4.1.3. Retinoid 4.1.4. Hyaluronic Acid 4.1.5. Vitamin C & E 4.1.6. Glycerin 4.2. North America Functional Cosmetics Market 4.2.1. North American Functional Cosmetics Market, by Type 4.2.2. Alpha Hydroxy Acids (AHAs) 4.2.3. Beta Hydroxy Acid (Salicylic Acid) 4.2.4. Retinoid 4.2.5. Hyaluronic Acid 4.2.6. Vitamin C & E 4.2.7. Glycerin 4.2.7.1.1. United States 4.2.7.1.2. Canada 4.2.7.1.3. Mexico 4.3. European Functional Cosmetics Market 4.3.1. European Functional Cosmetics Market, by Type 4.3.2. Alpha Hydroxy Acids (AHAs) 4.3.3. Beta Hydroxy Acid (Salicylic Acid) 4.3.4. Retinoid 4.3.5. Hyaluronic Acid 4.3.6. Vitamin C & E 4.3.7. Glycerin 4.3.7.1.1. UK 4.3.7.1.2. France 4.3.7.1.3. Germany 4.3.7.1.4. Italy 4.3.7.1.5. Spain 4.3.7.1.6. Sweden 4.3.7.1.7. Austria 4.3.7.1.8. Rest Of Europe 4.4. Asia Pacific Functional Cosmetics Market 4.4.1. Asia Pacific Functional Cosmetics Market, by Type 4.4.2. Alpha Hydroxy Acids (AHAs) 4.4.3. Beta Hydroxy Acid (Salicylic Acid) 4.4.4. Retinoid 4.4.5. Hyaluronic Acid 4.4.6. Vitamin C & E 4.4.7. Glycerin. 4.4.7.1.1. China 4.4.7.1.2. India 4.4.7.1.3. Japan 4.4.7.1.4. South Korea 4.4.7.1.5. Australia 4.4.7.1.6. ASEAN 4.4.7.1.7. Rest Of APAC 4.5. The Middle East and Africa Functional Cosmetics Market 4.5.1. The Middle East and Africa Functional Cosmetics Market, by Type 4.5.2. Alpha Hydroxy Acids (AHAs) 4.5.3. Beta Hydroxy Acid (Salicylic Acid) 4.5.4. Retinoid 4.5.5. Hyaluronic Acid 4.5.6. Vitamin C & E 4.5.7. Glycerin 4.5.7.1.1. South Africa 4.5.7.1.2. GCC 4.5.7.1.3. Egypt 4.5.7.1.4. Nigeria 4.5.7.1.5. Rest Of ME&A 4.6. Latin America Functional Cosmetics Market 4.6.1. Latin America Functional Cosmetics Market, by Type 4.6.2. Alpha Hydroxy Acids (AHAs) 4.6.3. Beta Hydroxy Acid (Salicylic Acid) 4.6.4. Retinoid 4.6.5. Hyaluronic Acid 4.6.6. Vitamin C & E 4.6.7. Glycerin 4.6.7.1.1. Brazil 4.6.7.1.2. Argentina 4.6.7.1.3. Rest Of Latin America 4.7. Global Functional Cosmetics Market, by Function 4.7.1. Cleansing Agent 4.7.2. Moisturizing Agent 4.7.3. Lightening Agent 4.7.4. Anti-aging Agent 4.8. North America Functional Cosmetics Market 4.8.1. North American Functional Cosmetics Market, by Function 4.8.2. Cleansing Agent 4.8.3. Moisturizing Agent 4.8.4. Lightening Agent 4.8.5. Anti-aging Agent 4.8.5.1.1. United States 4.8.5.1.2. Canada 4.8.5.1.3. Mexico 4.9. European Functional Cosmetics Market 4.9.1. European Functional Cosmetics Market, by Function 4.9.2. Cleansing Agent 4.9.3. Moisturizing Agent 4.9.4. Lightening Agent 4.9.5. Anti-aging Agent 4.9.5.1.1. UK 4.9.5.1.2. France 4.9.5.1.3. Germany 4.9.5.1.4. Italy 4.9.5.1.5. Spain 4.9.5.1.6. Sweden 4.9.5.1.7. Austria 4.9.5.1.8. Rest Of Europe 4.10. Asia Pacific Functional Cosmetics Market 4.10.1. Asia Pacific Functional Cosmetics Market, by Function 4.10.2. Cleansing Agent 4.10.3. Moisturizing Agent 4.10.4. Lightening Agent 4.10.5. Anti-aging Agent 4.10.5.1.1. China 4.10.5.1.2. India 4.10.5.1.3. Japan 4.10.5.1.4. South Korea 4.10.5.1.5. Australia 4.10.5.1.6. ASEAN 4.10.5.1.7. Rest Of APAC 4.11. The Middle East and Africa Functional Cosmetics Market 4.11.1. The Middle East and Africa Functional Cosmetics Market, by Function 4.11.2. Cleansing Agent 4.11.3. Moisturizing Agent 4.11.4. Lightening Agent 4.11.5. Anti-aging Agent 4.11.5.1.1. South Africa 4.11.5.1.2. GCC 4.11.5.1.3. Egypt 4.11.5.1.4. Nigeria 4.11.5.1.5. Rest Of ME&A 4.12. Latin America Functional Cosmetics Market 4.12.1. Latin America Functional Cosmetics Market, by Function 4.12.2. Cleansing Agent 4.12.3. Moisturizing Agent 4.12.4. Lightening Agent 4.12.5. Anti-aging Agent 4.12.5.1.1. Brazil 4.12.5.1.2. Argentina 4.12.5.1.3. Rest Of Latin America 4.13. Company Profile: Key Players 4.13.1. Unilever. 4.13.1.1. Company Overview 4.13.1.2. Financial Overview 4.13.1.3. Global Presence 4.13.1.4. Type Portfolio 4.13.1.5. Business Strategy 4.13.1.6. Recent Developments 4.13.2. BASF SE 4.13.3. Clariant AG 4.13.4. Croda International Plc 4.13.5. Evonik Industries AG 4.13.6. Gattefossé SAS 4.13.7. Givaudan SA 4.13.8. Lonza 4.13.9. Lucas Meyer Cosmetics 4.13.10. Nouryon 4.13.11. Seppic SA 4.13.12. Symrise AG 4.13.13. L'Oréal, Unilever 4.13.14. Procter & Gamble Co 4.13.15. The Estee Lauder Companies 4.13.16. Shiseido Company 4.13.17. Beiersdorf AG