Global Probiotic Cosmetic Products Market 2019-2023| Increasing Demand for Multifunctional and Multipurpose Beauty Products to Boost Growth| Technavio
LONDON--(BUSINESS WIRE)--Feb 1, 2019--The global probiotic cosmetic products market is expected to post a CAGR of over 7% during the period 2019-2023, according to the latest market research report by .
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Technavio has released a new market research report on the global probiotic cosmetic products market for the period 2019-2023. (Graphic: Business Wire)
The global probiotic cosmetic products market and the global wellness industry are mutually dependent. The rise in health consciousness among consumers and the increasing adoption of a healthy and balanced lifestyle drives the global wellness market, with salons and spas being the core contributors. Vendors are focusing on millennials as this group is highly concerned about their appearance, health, skin, hair, and wellness. Most vendors have also started distributing their products to professional salons where skin experts and therapists help health-conscious customers choose appropriate skin treatments as per their requirements. The growth in the wellness industry directly impacts the sales of probiotic skin care products in the global market. The global wellness industry is expected to propel the sales volume of professional probiotic cosmetic products during the forecast period.
As per Technavio, the increasing demand for multifunctional and multipurpose beauty products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global probiotic cosmetic products market: Increasing demand for multifunctional and multipurpose beauty products
Single beauty products with multiple benefits are gaining popularity as multifunctionality allows consumers to achieve maximum value for the amount spent. Multifunctional beauty products are developed considering the demand, convenience, need, and busy lifestyle of customers. For instance, a multi-purpose face moisturizer offers multiple benefits including skin moisturization, texture refinement, skin elasticity healing, dark spot reduction, skin hydration, and uneven skin tone improvement. Thus, rising customer focus on product functionality has increased the demand for multifunctional beauty products. Similarly, hair care products with multiple benefits are popular among customers. This trend is expected to positively impact the global probiotic cosmetics products market during the forecast period.
“Innovation and portfolio extension are driving the global probiotic cosmetic products market. Vendors are offering various beauty and personal care products that are composed of probiotics, antioxidants, and others. At present, customers across the globe prefer cosmetic products that resolve multiple beauty-related concerns in a brief period. Customers opt for natural and instant ways to heal their beauty concerns. To meet the changing needs of customers, vendors focus on manufacturing innovative products,” says a senior analyst at Technavio.
Global probiotic cosmetic products market: Segmentation analysis
This market research report segments the global probiotic cosmetic products market by product (VS, VSOP, and XO) and geographical regions (North America, Europe, APAC, South America, MEA).
The North American region led the market in 2018 with a market share close to 37%, followed by Europe, APAC, South America, and MEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth followed by South America.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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