Cosmeceuticals are a combination of cosmetic product and pharmaceuticals. They are mainly used in enhancing the physical appearance of the body and enhance skin health. Cosmeceuticals are inclusive of several antioxidants that are responsible for enhancing the surface on which they are applied. The demand for visually appealing lifestyle and changing habits will lead to a wider adoption of cosmeceuticals across the world.
The presence of several large scale vendors will emerge in favor of the growth of the overall cosmeceuticals market. The growing demand for natural products with minimum side effects will open up a huge potential for the companies operating in the market. The availability of cosmeceuticals at a low cost will contribute to market growth.
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The factor that separates cosmeceuticals from ordinary cosmetics is that the former are used to enhance the health of the skin. Unlike cosmetics, these products enter the deeper layers and pass through the epidermis. Increasing awareness among people about the use of chemical ingredients through cosmetics is a primary reason why there is an increasing demand for cosmeceuticals.
Increasing Number of Company Mergers Will Aid Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. The increasing number of company mergers and acquisitions has had a massive impact on the growth of the market. Accounting to the huge potential held by the products, several large scale companies are looking o invest more in the research and development of newer products. Moreover, major companies are looking to acquire small and medium enterprises, with a bid to establishing a stronghold in the market. In October 2018, Shiseido announced that it has completed the acquisition of ‘Drunk Elephant.’ The company possesses an attractive portfolio of clean clinical skincare products. This acquisition will not only help the company grow, but will have a massive impact on the growth of the market in the coming years.