Probiotic Cosmetics Market will Exhibit 6.9% CAGR as Skincare and Grooming Gain Momentum among Men
According to a recent report by Future Market Insights (FMI), the probiotic cosmetics market is expected to surpass a valuation of US$ 302.7 Mn in 2021 at a CAGR of over 6.9% through 2031. Increasing awareness about skincare, self-grooming, healthy-looking among men is likely to play a key role in fueling growth in the probiotic cosmetics market.
Probiotic Cosmetics Market
A recent market study published by Future Market Insights on the probiotic cosmetics marke...
Players are principally engaging in attracting millennial men. To achieve this, leading beauty brands are providing them with the best quality probiotic cosmetic products. Expansion of portfolio by leading companies also will help them gain competitive advantage in the market.
Rising male consciousness towards importance of grooming and appearances has spurred the demand for skin care and cosmetic products including probiotic cosmetics, exclusively formulated for men. An increase in societal influence to look good and persistent self-consciousness are the prominent factors fuelling the demand for probiotic cosmetics.
Expansion strategies undertaken by the leading market players also will aid overall expansion of the market. For instance, brands like Esse, Laflore, Marie Veronique and MenBiotics™ are continually investing in the research and development activity to cater to the dynamic consumer preference. This also will help the player to strengthen their presence in the market.
Key Takeaways from the Probiotic Cosmetic Market Study
- In terms of product type, facial care products are projected to account for 40.2% of the total probiotic cosmetics market share in 2021.
- In terms of end-use, personal/individual will account for 63.0% of the total probiotic cosmetics market share in 2021.
- As per FMI analysis, probiotic cosmetics demand is increasing in the United States. The US is expected account for 88.7% of sales in North America in 2021.
- UK is a key market in Europe, registering a CAGR of 6.7% owing to higher spending on probiotic cosmetics in the country.
- Probiotic cosmetics sales via online sales channels will pick up pace globally.
“Cosmetic brands are expanding their penetration in the probiotic cosmetics market because probiotic reduces acne outbreaks and helps in managing eczema and dry skin. Furthermore, various brands operating in the probiotic cosmetic market are using virtual reality technology to motivate e-commerce shopping. Integration of advanced technologies facilitate personalizing online customer experiences. These advancements will drive sales in the market” says an FMI analyst.
Impact of COVID-19 on the Market
The novel coronavirus outbreak had a wide-ranging impact, including the closure of all non-essential enterprises and stores, which has resulted in a loss of corporate confidence, increased public concern, and uncertainty about the future. Furthermore, extended worldwide economic downturns caused by COVID-19 had a negative impact on the global probiotic cosmetics market.
Besides decelerating demand among consumers, supply chain disruptions had a negative impact on the market. Additionally, shortage of labor, inadequate raw materials, less consumption of cosmetic products, high cost of production, and others hampered the probiotic cosmetics market growth.
Who is Winning?
Leading manufacturers and suppliers of probiotic cosmetics are focusing on aggressive promotional strategies, advertisements, and new product launches to drive sales globally.
Major players present in the probiotic cosmetics market are L’Oreal SA, Procter & Gamble, Unilever Plc, Arbonne International LLC, KORRES SA, L'OCCITANE, Aurelia London., Johnson & Johnson Consumer Inc, Amway, Andalou, Aurelia London., BIOMILK™ Skincare, Columbia SkinCare., EMINENCE ORGANIC SKIN CARE, LaFlore® Probiotic Skincare, ESSE SKINCARE, Marie Veronique., and ESTÉE LAUDER COMPANIES among others.
About Consumer Products division of FMI
Expert analysis, in-depth insights, and strategic recommendations - the Retail & Consumer Products team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 500+ reports, the team has analyzed the consumer goods industry lucidly in 80+ countries for over a decade. We provide end-to-end research database on retail & consumer products market and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
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.
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