A comprehensive analysis on the probiotic cosmeticsmarket by Future Market Insights (FMI) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of product type, consumer orientation, end use, price range, packaging, and sales channel over the next 10-years.
DUBAI, UAE, Nov. 23, 2021 /PRNewswire/ -- As per a study by FMI, the global probiotic cosmetics marketis projected to total US$ 594.7 Mn in 2031. In response to the growing emphasis on self-grooming, skincare, and appearance among men across the world, the market is estimated to expand at a CAGR of 6.9% over the forecast period 2021-2031, in comparison to the 5.2% CAGR registered in the past half-decade.
Rising awareness regarding the benefits of microbiomes in cosmetic and skincare products such as anti-aging, skin lightening, and efficient moisturizing is facilitating the growth in the market. Thus, increasing significance of maintaining a healthy skincare ritual among men and women alike owing to the increasing social media penetration is expected to spur the sales of probiotic cosmetics by more than 2X through 2031.
Citing this trend, a number of cosmetic companies are aiming at launching novel products that are probiotic in nature. For instance, AIME skincare, a leading skincare brand, announced expanding its portfolio by launching its probiotic-based skincare range – The Simple Skin. It consists of probiotic cleansers, serums, and creams for all types of skin. A multiplicity of such product launches is expected to propel the demand for probiotic cosmetics, enabling the market register a year-on-year growth of 6.1% in 2021.
On the basis of product type, the facial care product segment is anticipated to outpace other products available in the market, accounting for more than 41% of the overall sales in 2021. Increasing demand for serums, masks, cream, and others for skincare and targeting specific skin concerns is favoring the growth in the market.
"Rising popularity of cosmetics among millennial men and increasing adoption of probiotic skincare products for the treatment of dermatological concerns such as eczema, chronic inflammation, ichthyosis, and acne are expected to accelerate the growth in the market," says a FMI analyst.
Key Takeaways from Probiotic CosmeticsMarket Study
The market in the U.S. is projected to register the fastest growth in North America, expanding at a CAGR of 3.8% over the assessment period.
The U.K. is expected to hold lead in the Europe market, accounting for more than 30.7% of the regional sales through 2021.
India is anticipated to hold the dominant share in the South Asia & Pacific market, accounting for over 30.6% of the value share in the region in 2021.
As per the price range, the premium (above US$60) segment is forecast to lead the market, surging at a robust CAGR of 8.7% between 2021 and 2031.
Introduction of specialized cosmetics and skincare e-commerce platforms such as Nykaa, and the availability of a variety of products at tempting discounts across these platforms are spurring the sales of probiotic cosmetics in the online retailing segment.
Rising customer inclination towards the adoption of high-quality skincare and cosmetic products with minimal to no side effects is propelling the demand for probiotic cosmetics in the premium segment.
Stringent regulatory approval and cost-intensive certification process for novel cosmetics and personal care products are posing a challenge to market growth.
Use of cost-effective chemicals and moderate-quality ingredients in the production of economic range probiotic cosmetics is hindering the sales in the economy (below US$30) segment, as consumers are extensively looking for high quality and natural products.
As per FMI, the leading players in the global market are anticipated to account for nearly 15% to 25% of the total market share through 2021.
Key companies are emphasizing on intensive research and development (R&D) activities for launching innovative products and services in the market. Some of the manufacturers are aiming at entering into a collaboration with spas, online beauty retailers, and other organizations to strengthen their footprint. For instance,
In 2019, Eminence Organic Skin Care, a natural cosmetic manufacturer, announced launching a stonecrop body products collection which includes body oil, body cream, body scrub, and others. The products are organic, natural, and biodynamic professional skincare in nature.
In September 2021, LAC2Biome S.r.l, a microbiome health startup based in Italy, announced introducing a new facial serum with a white label skincare blend, which contains hyaluronic acids and live probiotics. The new product launch will assist the company to expand its portfolio in probiotic cosmetics.
Some of the key players operating in the market profiled by FMI are:
More Valuable Insights on Probiotic CosmeticsMarket
The latest report by FMI provides a detailed analysis of the global probiotic cosmetics market, providing credible insights into key factor driving the market through 2021 and beyond. The study also disclosed growth projections on in probiotic cosmetics market with detailed segmentation:
By Product Type:
Facial Care products
Creams & Lotions
Scrubs & Masks
Hair Care products
Body Care products
By Consumer Orientation:
By Price Range:
Economy (Below US$30)
Mid-Range (US$30 to US$60)
Premium (Above US$60)
Pumps and Dispensers
By Sales Channel:
Multi brand store
Drug & Pharmacy stores
Middle East and Africa (MEA)
Key Questions Covered in the Report
The report offers insight into probiotic cosmetics market demand outlook for the forecast period 2021-2031
The market study also highlights projected sales growth for probiotic cosmetics market between 2021 and 2031
Probiotic cosmetics market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Probiotic cosmetics market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S., and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.