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.
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.
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2021-2031 Probiotic Cosmetics Market Outlook in Comparison to Sales Registered in 2016-2020
Some of the factors driving the sales of probiotic cosmetics include the increasing number of enlightened and well-travelled customers, rising awareness about probiotic moisturizer benefits, and increasing inclination for prebiotics and probiotics skincare.
Driven by this, the probiotic cosmetics market is expected to register 6.9% CAGR between 2021 and 2031 in comparison to the 5.2% CAGR registered during 2016-2020.
The processing of the various ingredients such as the species Lactobacillus, Vitreoscilla, Bifidobacterium, and other ferments in cosmetic and skincare products is propelling the probiotic cosmetics market growth. Expansion of organic skincare industry also will improve sales of probiotic cosmetics.
The demand for microbiome cosmetics and sustainable skincare is on the rise. Coupled with this, higher awareness regarding the benefits of probiotics in the treatment of various skin concerns such as eczema, acne, chronic inflammation, and rosacea will continue pushing sales of probiotic cosmetics.
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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.
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.
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