The global probiotic cosmetics product market is forecast to grow at a compound annual growth rate (CAGR) of more than 7% during the forecast period from 2021-2030.
A probiotic is a live strain of bacteria that is beneficial to the skin and digestive system.
Its relaxing properties on the skin are one of the main reasons for its popularity. Increasing awareness of appearance, health, and well-being has helped probiotic cosmetic products grow significantly in recent years. The products help maintain healthy, radiant skin and help manage skin-related issues. Due to its ability to build better skin immunity and regulate the skin's natural immune response, the market has flourished in recent years.
Factors Affecting
Impact Analysis of COVID-19
Globally, COVID-19 has posed a significant challenge to the probiotic cosmetics market. The pandemic has caused public perceptions to shift dramatically. Nowadays, consumers who care about their skin use basic skincare regimens, reducing the demand for probiotics. The current environment is also ranking cheaper and more easily available products higher among consumers. Additionally, due to government-imposed lockdowns to combat the spread of the virus, many online platforms, retail stores, and shops were closed, negatively impacting sales of probiotic cosmetic items.
Regional Analysis
North America held the largest share of the market. In this region, growing concerns about skin problems contribute to the growth of demand for probiotic cosmetics. Additionally, prospective manufacturers are on the lookout for product innovations to gain a foothold in the market. Several industry leaders contribute to the industry's growth in this region as well. On the other hand, Asia Pacific is forecast to be the fastest-growing region during the forecast period.
Leading Competitors
The leading prominent competitors in the global probiotic cosmetics product market are:
Scope of the Report
The global probiotic cosmetics product market segmentation includes Product Type, Distribution Channel, and Region.
Segmentation based on Product Type
Segmentation based on Distribution Channel
Segmentation based on Region