The global active cosmetics market has witnessed significant growth over the past few years owing to the growing demand for skincare products that treat premature aging, wrinkles, dark spots, acne, and other skin-related concerns. Active ingredients used in these cosmetic formulations help reduce visible signs of aging, nourish and hydrate skin, treat common skin conditions, and protect skin from environmental damage. Cosmetic products containing ingredients such as retinol, alpha-hydroxy acids, hyaluronic acid, peptides, antioxidants, and sunscreens are gaining popularity among consumers. The increased focus on personal care and rising disposable income levels have further propelled the sales of premium anti-aging creams, serums, and facial masks.
The Global active cosmetics Market is estimated to be valued at US$ 11.62 Bn in 2024 and is expected to exhibit a CAGR of 9.9% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Active Cosmetics Market Growth are Medtronic, Dexcom, Inc., Abbott, Novo Nordisk A/S, Ypsomed, GlySens Incorporated, and F. Hoffmann-La Roche Ltd., among others. Key players are focusing on new product launches, partnerships, and expansion strategies to strengthen their market position and expand their geographic reach. For instance, in 2021, Medtronic launched its Guardian Connect continuous glucose monitoring system with smart phone connectivity features.
The growing demand for anti-aging skin care products owing to increasing geriatric population and rising consumer disposable incomes is expected to drive the market growth over the forecast period. Increasing urbanization and growing awareness about personal care are also contributing to the rising sales of active cosmetic formulations.
Geographic expansion into emerging markets of Asia Pacific and Latin America through online retail and company-owned stores will provide significant growth opportunities to key players. Growing middle class population and improving spending on premium beauty products in countries like China, India, Brazil, and Mexico will support the global expansion of active cosmetics market.
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