New York, United States, Dec. 04, 2023 (GLOBE NEWSWIRE) -- Acne vulgaris is a prevalent skin disorder that affects around 85 percent of the world's population (aged 11 to 30). The significant prevalence of acne among adults and adolescents is expected to fuel market expansion. In addition, the negative social stigma associated with acne and the increased usage of cosmetics by both men and women, particularly in emerging nations, are anticipated to fuel the market's expansion.
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High Psychological Burden Associated with Acne to Drive the Global Anti-Acne Cosmetics Market
According to Straits Research, “The global anti-acne cosmetics market size was worth USD 3,800 million in 2021 and is estimated to reach an expected value of USD 8460 million by 2030 at a CAGR of 9.3% over the forecast period (2022-2030).” Acne is recognized to substantially impact a patient's mental health in addition to its effect on the individual's physical appearance. Acne is connected with depression, anxiety, poor self-image, low self-esteem, poor quality of life, and loneliness, among other psychological difficulties. According to a study released by Reuters, acne patients are 46% more likely to suffer from serious depressive illness than those without acne. Moreover, according to a study published in the International Journal of Women's Dermatology, almost 64% and approximately 89% of women with moderate and severe acne reported lower self-esteem and increased embarrassment. These psychological difficulties are projected to encourage patients to seek cosmetic solutions to enhance their appearance and self-esteem, ultimately boosting market expansion.
In addition, adolescents with acne are known to avoid school/college due to low self-esteem, which has a negative impact on their academic performance. In contrast, adults avoid going to the office due to embarrassment and have fewer career options, as occupations that emphasize physical appearance, such as modeling, are unavailable to them. Consequently, the detrimental influence of acne on a person's employment is projected to motivate individuals to seek medical/cosmetic therapy, thereby driving market expansion.
Increase in Middle-Class Population to Provide Opportunities for the Global Anti-Acne Cosmetics Market
European Commission projects that by 2030, the global middle-class population will exceed 5 billion. India is expected to be the largest consumer market in the world, while more than 70 percent of the Chinese people would be middle class. In addition, it is anticipated that middle-class spending will increase from nearly USD 37 trillion in 2017 to USD 64 trillion in 2030, accounting for roughly a third of GDP growth. This is primarily attributable to the growing middle-class population in emerging economies. It is projected that the growth of the middle class will enhance purchasing power, consequently increasing spending on non-essential things, such as cosmetics and other luxury items.
In addition, market participants are targeting Asian middle-class consumers to capitalize on the expanding consumer base. For example, Shiseido is expanding its production capacity to fulfill the rising demand caused by the expansion of the middle class in Southeast Asia and China. These actions by market participants are also projected to stimulate market expansion.
- By end-use, the global anti-acne cosmetics market is segmented into dermatology clinics and medspa. The medspa dominated the market and is estimated to register a CAGR of 9.6% during the forecast period.
Regional Analysis of the Global Anti-Acne Cosmetics Market:
By region, the global anti-acne cosmetics market is segmented into Asia Pacific, North America, Europe, Latin America, Middle East & Africa.
Asia Pacific dominated the market and is estimated to register a CAGR of 10.1% during the forecast period. A rise in the middle- and upper-income classes and an increase in the number of senior individuals seeking skincare products are anticipated to stimulate market expansion. According to the company's annual report, Asia Pacific held the most significant proportion of L'Oréal's global cosmetics business and accounted for 57% of its skincare market in 2019. The growth of luxury skincare goods enriches the Asian demand for skincare products. Major skincare firms are attempting to enhance their sales distribution networks in populous nations with great market development potential, such as India and China.
Europe Is the second largest region. It is estimated to grow at a CAGR of 9.6%. According to the British Medical Journal, around 3.5 million appointments with general practitioners in the UK are for acne each year. On the quality of life of acne sufferers, issues such as loss of confidence, impairment of everyday social and job function, and depression have been identified. News 18 reports that 92% of British women use facial cleansers, including face wash (55%), wipes (54%), micellar water, or toner (27%). Additionally, the percentage of women using day creams climbed from 59% in 2017 to 66% in 2018. According to the news, Korean beauty regimes may have a significant influence on British women's adoption of multi-step skincare procedures. This highlights the population's yearning for beautiful skin and the country's growing understanding of skincare. Popular face treatments for acne include lotions, masks, and serums containing various active substances, such as lotions, shows, and serums. Growing awareness of the significance of skin health and its long-term well-being in the United Kingdom is a significant factor propelling the anti-acne cosmetics market.
Some of the key companies in the global anti-acne cosmetics market are Neutrogena, Clinique, Murad, Kose, LaRochPosay, Mentholatum, Glowbiotics, Beautyhealth Company, Perricone MD, Revision Skincare, Sente, Skinbetter Science, Skinmedica, L'Oréal, Proactiv, and Vichy.
- September 2022 - L’Oréal signed an agreement to acquire Skinbetter Science, a physician-dispensed American skincare brand backed by cutting-edge, dermatological science, combining patented efficacious ingredients with luxurious sensorial textures.
- July 2022 - The North Asia Zone of L'Oréal Group is the first of the company's global zones to achieve carbon neutrality across all operating sites, plants, distribution centers, offices, and research & innovation centers throughout five geographic markets: Mainland China, Japan, South Korea, Hong Kong, and Taiwan. This accomplishment represents a significant milestone in the company's efforts to combat the urgent issue of climate change.
Global Anti-Acne Cosmetics Market: Segmentation
- Creams & Lotions
- Cleansers & Toners
- Dermatology Clinics
By Distribution channel
- Retail sales
- Direct tender
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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