Modern society has always aspired for longevity and continuous innovation and advancement in medical sciences have helped people all over the world, on average, gain 6 years of life expectancy. Cosmeceutical industry has revolutionized the cosmetic and personal care industry owing to the ability of its products that resolves imperfection. Rising consumer consciousness on the appearance among European populace has led to astonishing growth of the industry. Further, growing popularity of cosmeceutical products, especially in skin care segment, has gained momentum in the European countries namely UK, Germany, France, etc. With varied application of the products and rising consumer awareness on its benefit, the European cosmeceutical industry is forecasted to grow at a CAGR of 6% through 2022.
The latest research report titled, “Europe Cosmeceutical Market Outlook 2022” portrays current and future scenario of the cosmeceutical industry in the region responsible for strong growth. The European cosmeceutical market is expected to grow at an alarming rate due to increasing ageing population, rise in consumer awareness on the cosmeceutical product’s benefits, and new technology-based cosmeceutical products. It is projected that the European cosmeceutical market will grow to reach around US$ 8.7 Billion by 2022. Further, the rise in technological innovations and continuous launch of new products by players namely Procter & Gamble, Johnson & Johnson, etc. has contributed significantly in the development of overall market.
Moreover, it provides the key analysis and market estimation of its industry segment, such as Skin Care, Hair Care, Injectables, etc. Skin Care is the dominant segment, followed by the Hair Care and Injectables. Attributed to rising desire of youthful skin among age group of 35 and above, the anti-aging market held largest share. Further, the hair care market is also likely to grow owing to incessant product launch of its products catering to the issues such as hair fall, anti-dandruff, etc. The report also highlights the forecast of the industry in European countries, namely - Germany, UK, France, Spain, and Italy. The challenges witnessed by the cosmeceutical industry and its players have also been highlighted, in order to build better understanding of the industry.
With a view to provide a balanced outlook, the report covers competitive landscape that includes company profiling of major players like Procter and Gamble, L’oreal, Avon, Shiseido, Johnson and Johnson, Estee Lauder, Beiersdorf and Merz Pharma. It provides insight on business overview, key financials, etc. Overall, the research provides comprehensive and pre-requisite information of the industry to the clients, and helps understand the market along with the structure and growth in the coming years.