— Cosmeceuticals are scientifically produced products, which contain biologically active ingredients that have proven clinical benefits. When applied, these active ingredients are able to reach the deeper dermal layers of skin, allowing them to make noticeable changes in the skin. The growing concern on the appearance and high aesthetic consciousness is driving the European cosmeceutical market, which was estimated at US$ 6.3 Billion in 2016. Further, it is anticipated to reach US$ 8.7 Billion by 2022, growing at a CAGR of around 6% during the forecasted period of 2017-2022.
As per our latest research report “Europe Cosmeceutical Market Outlook 2022“, the European cosmeceutical market is expected to grow at an alarming rate due to increasing ageing population, rise in consumer awareness on the cosmeceutical product’s benefits, and new technology-based cosmeceutical products. It is projected that the European cosmeceutical market will grow at a CAGR of around 6% during the forecasted period from 2017-2022 to reach around US$ 8.7 Billion by 2022.
In the cosmeceutical industry, the Skin Care segment continues to lead with a share of more than half of the total cosmeceutical market. This rapid growth reflects an aging population’s desire for a youthful appearance, along with the health-enhancing benefits of natural ingredients. The major contributor for boosting growth of the skin care cosmeceutical segment is the population of 35 years old and above, which is willing to adopt various anti-aging products and dermatological procedures.
Further, nanotechnology is contributing significantly in the European cosmeceutical industry. Such developments are motivating the formulators to develop the products while meeting the demand of the increasing number of consumers in the continent. Thereby exhibiting a promising future for the investors looking to venture into the industry.
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Notes to Editor
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