At a CAGR of more than 6.9 percent through 2031, the probiotic cosmetics market is anticipated to achieve a valuation of US$ 302.7 Mn in 2021. Men’s growing awareness of skincare, self-care, and good appearance is going to be a major factor in the probiotic cosmetics market’s rise.
Players’ main focus is on seducing young guys. Leading beauty brands are giving them the highest quality probiotic cosmetic products to help them achieve this. Leading businesses’ portfolio expansion will assist them in gaining a competitive edge in the market.
Growing awareness among men of the value of grooming and appearances has fueled demand for skin care and cosmetics, especially probiotic cosmetics specifically designed for men. The market for probiotic cosmetics is mostly driven by rising social pressure to look nice and enduring self-consciousness.
The top market participants’ expansion plans will also help the industry as a whole. For instance, companies like Esse, Leflore, Marie Veronique, and MenBiotics continuously spend on R&D to meet the changing preferences of their customers. Additionally, this will support the player’s efforts to increase their market share.
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 to account for 88.7% of sales in North America in 2021. The 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 facilitates personalizing online customer experiences. These advancements will drive sales in the market” says an FMI analyst.
Impact of COVID-19 on the Market
The new coronavirus outbreak had a significant impact, forcing the closure of all businesses and retail establishments that weren’t necessary. This has undermined corporate confidence, raised public anxiety, and created uncertainty about the future. Additionally, the COVID-19-related prolonged global economic downturns had a detrimental effect on the market for probiotic cosmetics.
Disruptions in the supply chain not only slowed consumer demand but also hurt the market. Additionally, the expansion of the probiotic cosmetics market was constrained by factors such as a lack of workforce, poor raw materials, a decline in the consumption of cosmetics, high production costs, and others.
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., BIO MILK Skincare, Columbia SkinCare., EMINENCE ORGANIC SKIN CARE, LeFlore(R) Probiotic Skincare, ESSE SKINCARE, Marie Veronique., and ESTEE LAUDER COMPANIES among others.