Glycerin is a non-toxic, colorless, and odorless ingredient that is naturally found in the skin and other lipids. Glycerin is derived from plants and animals. PEG silicone, an occlusive, is another type of ingredient. These occlusive ingredients help prevent the separation of oil and water. They can also be irritating to the skin. Propylene glycol is a known irritant and may lead to rashes. Glycerin is an alpha hydroxy acid (AHA) made from sugar. It is the smallest AHA molecule and is most effective at penetrating the skin. It also increases the rate of cell turnover and brightens the skin while stimulating collagen production. Some dermatologists recommend a trinity of skincare ingredients. These are sunscreen, antioxidant, and retinol.
Market Statistics:
The Americas Functional Cosmetics & Skin Care Ingredients market is estimated to account for US$ 53,492.15 Mn in terms of value by the end of 2021.
Americas Functional Cosmetics & Skin Care Ingredients Market: Drivers
Growing demand for multifunctional products is driving growth of the Americas Functional Cosmetics & Skin Care Ingredients market. For example, products with multiple benefits such as those with anti-ageing properties, moisturizing care and suntan protection are very popular in the skin care cosmetics industry. Foundation creams that offer multiple benefits such as sun protection, moisturizing, oil-free and no pore-clogging have witnessed rising demand, especially from the working women population.
Americas Functional Cosmetics & Skin Care Ingredients Market: Opportunities
The market has experienced a significant investments by the key players focusing on expanding their product offering and presence across America. This is driving the sales of cosmeceutical products. Moreover, companies also making strategic investments to develop innovative products with enhanced benefits due to changing consumer preferences and to achieve competitive advantage in the market. This is will favour the market growth in the near future.
Americas Functional Cosmetics & Skin Care Ingredients Market: Restraints
Environmental concern due to plastic packaging of cosmetic products is expected to limit the market growth over the forecast period.
Americas Functional Cosmetics & Skin Care Ingredients Market - Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 pandemic has had a neutral impact on the market, which witnessed a declining growth throughout the pandemic period, and it is currently still in the reviving phase. The beauty and personal market, including functional cosmetics and skincare ingredients in regions, witnessed a notable decline in sales, owing to the disruption caused by the outbreak of the COVID-19 pandemic. First-quarter sales of 2021 for functional cosmetics and skin care products manufactures were weak, and there were widespread store closures.
Key Takeaways:
The Americas Functional Cosmetics & Skin Care Ingredients market was valued at US$ 53,492.15 Mn in 2021 and is forecast to reach a value of US$ 67,450.00 Mn by 2030 at a CAGR of 3.36% between 2022 and 2030.
Supermarkets/ Hypermarkets distribution channel segment held dominant position in the Americas Functional Cosmetics & Skin Care Ingredients market in 2021, accounting for 14% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
To know the latest trends and insights prevalent in the America’s Functional Cosmetics and Skin Care Ingredients Market, click the link below:
Market Trends:
There has been a high-tech upgrades to hyaluronic acid in the form of new encapsulation methods and innovative freeze-dried formats. For instance, Hyaluronic acid are widely used in skin care products like serum, moisturizer, and lotions among others as it hydrates the skin. This is expected to be a major trend in the market.
Blue light protection skin care is gaining popularity among working women. Research studies shows blue light from electronic devices can lead to changes in the skin cells, including cell shrinkage and death. These speed up the aging process. Even exposures as short as 60 minutes can trigger these changes. Thus, with increasing consumer awareness, the demand for skin care products that provides protection form blue light is propelling primarily in the developed as well as developing countries.
Americas Functional Cosmetics & Skin Care Ingredients Market: Competitive Landscape
- Procter & Gamble
- Beiersdorf AG
- Loreal SA
- Unilever PLC
- The Estée Lauder Companies Inc.
- Shiseido Company Limited
- Natura & Co.
- Kao Corporation
- Colgate-Palmolive Company
- Johnson & Johnson Services Inc.
Americas Functional Cosmetics & Skin Care Ingredients Market: Recent Developments
- In October 2021, Therapeutic skincare brand CeraVe® announced the launch of its new Skin Renewing Nightly Exfoliating Treatment, a gentle and effective chemical exfoliating serum formulated to help brighten skin, boost hydration and minimize the appearance of fine lines and wrinkles.
- In November 2021, Unilever brand Ponds launched New Antiaging Product.The Rejuveness Collection is Unilever’s first US collection of affordable skincare formulated with retinol.
- In August 2021, Estee Lauder launched the latest incarnation of its Advanced Night Repair formula, Synchronized Multi-Recovery Complex, into travel retail worldwide. This can be counted as the company’s response to the globally expanding beauty and personal care market.
