Probiotic Cosmetic Products Market Size, Share & Trends Analysis Report By Product (Skin, Hair Care), By Distribution Channel (Hypermarket & Supermarket, E-commerce), By Region (APAC, North America), And Segment Forecasts, 2020 - 2027
New York, Dec. 29, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Probiotic Cosmetic Products Market Size, Share & Trends Analysis Report By Product, By Distribution Channel, By Region And Segment Forecasts, 2020 - 2027" - https://www.reportlinker.com/p05999633/?utm_source=GNW
Probiotic Cosmetic Products Market Growth & Trends
The global probiotic cosmetic products market size is anticipated to reach USD 418.1 million by 2027 according to a new report, expanding at a CAGR of 6.5% from 2020 to 2027. Growing awareness regarding the importance of maintaining a daily skincare routine is among the key factors driving the market. Rising awareness about microbiome-based cosmetics to cure skin-related issues, such as acne, scars, skin cancer, and bad bacteria, is also projected to boost market growth. Product launches in probiotic cosmetic products by key players, and guidance by industry experts bode well with the market demand.
According to Google reports 2019, approximately 1.9 billion people suffered from skin-related issues that year due to lack of proper skincare and dermatologist’s guidance. The demand for probiotic cosmetic products is increasing among millennials to avoid the signs of aging. Companies have been launching new products to gain a higher market share. For instance, in March 2019, Laboratoire Synbionyme- a probiotic skincare brand debuted its product offering in the U.S. for the first time. The brand offers a formulation consisting of prebiotic and probiotic extracts providing good dermal health.
The product range consists of Universal Serum, Radiance Moisturizing Gel-Cream, 24-Hour Moisturizing Cream, Enzymatic Clarifying Lotion, and Progena Lift Cream.However, due to the Covid19 pandemic, the market witnessed sluggish growth.
Probiotic skincare brands have been focusing on supply-side and engagement on e-commerce platforms.Customer discount programs, such as special at-home skincare kits and membership plans, have been prominent factors to build user engagement on the company websites and other e-commerce platforms amid the pandemic.
Hypermarket & supermarket distribution channels dominated the market in 2019.
Retailers, such as Ulta, Sephora, Walmart, Target, and Beauty Corner, are contributing to the segment growth by offering probiotic cosmetic products. For instance, in August 2019, Mother Dirt launched its product portfolio in collaboration with a luxury retailer, Harvey Nichols, in the U.K. and Ireland. E-commerce distribution channel is expected to witness the fastest growth over the forecast period. The rising popularity of e-commerce and third-party e-retailers, such as Amazon, Nykaa, and Sephora, among the manufacturers is driving the product sale through these channels. Increasing online shelf space in probiotic skincare, makeup category, and corresponding offers bode well with segment growth.
North America was the dominant regional market in 2019 and will expand further at a steady CAGR from 2020 to 2027.Rising awareness about the benefits of microbiome-based cosmetics is the key driving factor for the region’s growth.
Moreover, key companies in the region are focusing on R&D and new product launches to fulfill the changing consumer demands.For instance, in September 2019, Dr.
Raymond Labs, a K-beauty company providing clinically-approved skincare routines, launched Curecode, which includes Neuromide–synthesized bio-identical compound, found naturally in the human body, produced by the microbiome.
Probiotic Cosmetic Products Market Report Highlights
• The global market is expected to progress at a compounded annual growth rate (CAGR) of 6.5% from 2020 to 2027
• The skin care segment is expected to account for the highest revenue share by 2027. However, hair care is estimated to be the fastest-growing segment from 2020 to 2027
• E-commerce is projected to emerge as the fastest-growing distribution channel segment from 2020 to 2027. Easy availability of probiotic cosmetic products, free delivery, and seasonal discounts on e-retailer platforms are the major factors driving the segment growth
• Asia Pacific is expected to be the fastest-growing regional market from 2020 to 2027. Growing awareness regarding skin and personal care routine and changing lifestyle are the key factors boosting the market
Read the full report: https://www.reportlinker.com/p05999633/?utm_source=GNW
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