Probiotic Cosmetics Market
The probiotic cosmetics market is expected to reach a valuation of US$302.7 million in 2021 and US$594.7 million in 2031. Growing awareness among men for skin care, personal care and good appearance is going to be a major factor in the probiotic cosmetics market. ascend. The market is expected to post a compound annual growth rate (CAGR) of 6.9%.
The primary goal of the players is to seduce young men. To help them achieve this goal, the best cosmetic probiotic brands provide them with the best products available. Expanding the portfolios of leading companies will help them gain a competitive advantage in the market.
Men are increasingly aware of the importance of grooming and appearance, which has increased the demand for skin care and cosmetics, especially probiotic products specifically designed for men. The probiotic cosmetics market is primarily driven by persistent self-awareness and growing social pressure to look good.
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The expansion plans of major market players will also help the industry as a whole. For example, companies like Esse, Leflore, Marie Veronique and MenBiotics continually spend on R&D to meet the changing preferences of their customers. Moreover, it will support the player’s efforts to increase their market share.
Key insights from the probiotic cosmetics market study
In terms of product type, facial care products are expected to account for 40.2% of the total probiotic cosmetics market share in 2021. In terms of end-use, home/individual will account for 63.0% of the share of the total probiotic cosmetics market in 2021. .
According to IMF analysis, the demand for probiotic cosmetics is increasing in the United States. The United States is expected to account for 88.7% of North American sales in 2021.
The UK is a key market in Europe, registering a CAGR of 6.7% due to higher spending on probiotic cosmetics in the country. Sales of probiotic cosmetics through online sales channels will accelerate globally.
“Cosmetic brands are expanding their penetration into the probiotic cosmetics market as probiotics reduce acne breakouts and help manage eczema and dry skin. Additionally, various brands operating in the probiotic cosmetics market are using the technology of virtual reality to motivate online purchases. Integration of cutting-edge technologies makes it easier to personalize the online customer experience. These advancements will drive sales in the market,” says an IMF analyst.
Impact of COVID-19 on the market
The novel coronavirus outbreak has had a significant impact, forcing the closure of all unnecessary businesses and retail establishments. This has shaken business confidence, heightened public anxiety and created uncertainty about the future. Additionally, the prolonged global economic downturns related to COVID-19 have had a detrimental effect on the probiotic cosmetics market.
Supply chain disruptions not only slowed consumer demand, but also hurt the market. Additionally, the expansion of the probiotic cosmetics market has been constrained by factors such as lack of manpower, poor raw materials, declining consumption of cosmetics, high production costs, etc.
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Major manufacturers and suppliers of probiotic cosmetics are focusing on aggressive promotional strategies, advertisements and new product launches to boost sales globally.
The major players present in the probiotic cosmetics market are L’Oréal SA, Procter & Gamble, Unilever Plc, Arbonne International LLC, KORRES SA, L’OCCITANE, Aurelia London., Johnson & Johnson Consumer Inc, Amway, Andalou, Aurelia London ., BIO MILK Skincare, Columbia SkinCare., EMINENCE ORGANIC SKIN CARE, LeFlore(R) Probiotic Skincare, ESSE SKINCARE, Marie Veronique., and ESTEE LAUDER COMPANIES among others.
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Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.
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