Research Nester published a report titled “Functional Cosmetics Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global functional cosmetics market in terms of market segmentation by type, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global functional cosmetics market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. The market is segmented on the basis of end-user into male, female, and unisex, out of which, the female segment is expected to hold the largest share by the end of 2022, owing to the higher demand for anti-aging solutions, and other functional cosmetic products amongst the younger women. Moreover, the cosmetic companies specifically manufacture products catering to the needs of women, including, skin brightening, hyperpigmentation and wrinkle removal, hair growth, and others, which is estimated to boost the demand for functional cosmetics amongst females in the upcoming years.
The global functional cosmetics market is estimated to grow on the back of increasing health and wellness awareness amongst the population, along with the rising focus on holistic approach for skin and hair care. Moreover, the growing disposable income of individuals, is estimated to play a crucial part in the market growth, as people can afford the costlier functional cosmetics. Furthermore, the high efficiency of these products, and absence of any side effects, are anticipated to boost the market growth.
On the basis of geographical analysis, the global functional cosmetics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing adoption of organic and herbal beauty treatment methods in countries, such as, Japan and South Korea. Moreover, the presence of major market players in the region is further estimated to boost the market growth.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Increasing Individual Disposable Income to Drive the Market Growth
The rise in the disposable income of individuals across the globe, is estimated to boost the market growth, as people will be able to afford the costlier functional cosmetics. Moreover, economic development of the middle class population, is anticipated to increase the demand for functional cosmetics.
However, higher cost of organic products is expected to operate as key restraint to the growth of global functional cosmetics market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global functional cosmetics market which includes company profiling of Stepan Company, BASF SE, Nouryon Chemicals Holding B.V., Clariant AG, Evonik Industries AG, SEPPIC SA, Lucas Meyer Cosmetics Canada Inc., Columbia PhytoTechnology LLC, and Eastman Chemical Company. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global functional cosmetics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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