Probiotic Cosmetic Products to be Moderately Impacted during Covid-19, to Experience Resurgence Post Pandemic, opines Fact.MR
Published : 25 Apr 2020 Industry: Consumer Goods
Rising demand for natural labeled cosmetic products has been driving the demand for probiotic cosmetics. In 2020, the global probiotic cosmetics market is expected to plummet during the first two quarters of the year. This is attributed to the COVID-19 pandemic, which has created disruptions in the demand and supply dynamics of probiotic cosmetic products.
However, the market demand for probiotic products is expected to move up by third quarter and is anticipated to completely restore by latter half of the year. During this pandemic the market for probiotic cosmetic products is expected to be highly lucrative. On this premise, the market is expected to grow at a CAGR of nearly 11% during 2020-2030.
Key Takeaways of Probiotic Cosmetic Market Study
- The global probiotic cosmetic product demand for leave-on products is expected to grow at a CAGR of nearly 11% by 2020-2030, owing to the ease in applicability of the products. However, the rinse-off market is expected to grow by 6X during the forecasted period.
- In Europe, sales of probiotic cosmetics is projected to grow 2X by 2030. However, tremendous potential lies in South Asia and Oceania as the market is anticipated to grow at a CAGR of nearly 15% during the forecasted period. Within the region there is high preference for natural products.
- Demand for male probiotic cosmetics is set to soar, owing to an absolute $ opportunity of nearly US $40 Mn during 2020-2030. However, the female demographic will maintain its dominance for demand in the market.
- Baby care probiotic cosmetic products are emerging, promising new market opportunities, growing nearly five-fold by 2030, owing to the rising preference of natural ingredients in baby care products.
- The demand for probiotic cosmetics for individual use will record stagnant growth owing to the pursuit of multiple options for beauty products. However, the use of probiotic cosmetics has a better growth opportunity under professional services and is expected to grow by nearly 5X during 2020-2030.
“Manufacturers need to develop innovative baby probiotic cosmetic products to leverage demand of baby care and probiotic skincare products for babies, which is likely to create opportunities in the coming years.” says a Fact.MR analyst.
Expansion of Product Portfolio, a Key Growth Strategy of Market Players
The market of probiotic cosmetic products is partially fragmented with key players accounting for nearly half of the total revenue share. The established as well as emerging players in the market are presently investing in product launches to increase their product portfolio. For instance, in 2019, Danne Montague-King launched its product line with Lactobacillus ferment and yeast ferment extract. Moreover, in March 2020, Kovo Essentials announced its first probiotic product launch in the market.
Find More Valuable Insights on Global Probiotic Cosmetic Products Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global probiotic cosmetic market, presenting historical demand data of 2020 and forecast statistics for the period, 2020-2030. The study divulges compelling insights on the global probiotic cosmetic market on the basis of product type (facial care products, haircare products, make-up products, body care products, sun care products, baby care and other products) probiotic forms (fermentation products, cell lysates, tyndallization and living probiotic bacteria) species (lactobacillus, bifidobacterium, lactococcus, bacillus, micrococcus and other) category (leave-on products, rinse-off products) demographic (male, female and pediatrics) use case (individual and professional services) and by sales channel (direct sales, department stores, internet retails, specialty stores, drug & pharmaceutical stores and others) across 5 major regions.