The anti-acne cosmetics market is estimated to be valued at US$ 2718.35 Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Anti-acne cosmetics consists of products such as cleansers, oils, masks, creams, scrubs and toners that help treat acne breakouts and prevent future acne. These products contain ingredients like salicylic acid, benzoyl peroxide, tea tree oil, and glycolic acid that help clear acne causing bacteria and reduce inflammation. Regular use of anti-acne cosmetics helps control oil production, unclogs pores and reduces acne scars.
Market key trends:
The anti-acne cosmetics market is witnessing high growth owing to the increasing trend of online shopping. E-commerce stores and brand websites are offering various products, deals and discounts which is attracting more customers. Online shopping provides convenience of ordering from home along with reviews and recommendations which aid in purchase decisions. Leading brands are focusing on improving their online presence through social media marketing and celebrity endorsements. Furthermore, convenient subscription and membership programs by e-retailers is driving the repeat purchases in the anti-acne cosmetics market. The trend of online shopping is expected to continue and significantly contribute to the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as anti-acne cosmetics require heavy R&D investments and marketing budgets to grow brand presence. Established brands have economies of scale and better positioning.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are many established brands for buyers to choose from. Price sensitivity is low as these products are consumed for skin care needs rather than value proposition.
Bargaining power of suppliers: The bargaining power of suppliers is low as raw materials are commonly available from multiple specialized ingredient suppliers. Brands can switch to alternate suppliers easily without dependence.
Threat of new substitutes: Threat of new substitutes is low as alternative treatment options like acne medications require prescriptions unlike OTC anti-acne cosmetics.
Competitive rivalry: Competition is high among global brands to gain market share and acquire new customers through product innovation, promotions and collaborations.
SWOT Analysis
Strengths: Wide product ranges, strong brand positioning, extensive distribution networks and attractive pricing & promotions.
Weaknesses: Heavy R&D costs, pressure on margins from private label brands, and vulnerability to negative social media feedback.
Opportunities: Untapped regions especially Asia Pacific & Africa, expansion into anti-ageing skincare segment, and innovation in natural & organic variants.
Threats: Stringent regulations, increased raw material costs, and changing beauty trends towards minimal routines.
Key Takeaways
The global anti-acne cosmetics market is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing beauty & skin concerns among millennials and Gen Z consumers. Asia Pacific dominates the market currently due to rising disposable incomes, awareness, and western influence in countries like China, India & South Korea. Key regional markets include North America and Western Europe as well.
Regionally, Asia Pacific is expected to grow the fastest during the forecast period on account of rapidly increasing youth population, growing middle class, and expanding e-commerce channels in the region. Countries like India, China, Indonesia, Thailand and Vietnam will majorly contribute to the regional market growth.
Key players operating in the anti-acne cosmetics market are Clinique Laboratories, LLC., Neutrogena, Ancalima Lifesciences Ltd., Guthy-Renker, Murad Inc, L'Oréal S.A., The Mentholatum Company Inc., Kosé Corporation, and Galderma Laboratories LP. Major players are focused on product innovation, endorsements, and digital & social media marketing to strengthen their market presence.
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https://www.ukwebwire.com/anti-acne-cosmetics-market-size-share-growth-outlook-2023/