The global cosmeceutical market exceeded 50 billion in 2019

The safe and effective characteristics of cosmeceuticals have gradually attracted the attention and love of consumers, especially those with sensitive skin who have a large demand for cosmeceuticals. In recent years, the global cosmeceuticals market has continued to grow. In 2019, the market size exceeded 50 billion yuan. Europe is the world's largest consumer market for cosmeceuticals.

At present, only Japan defines cosmeceuticals in law, and most countries do not give them official status. Each country has its own characteristics in terms of the characteristics of cosmeceutical products, sales channels and brand competition.

The market size of the global cosmeceutical industry has exceeded US$50 billion

With the improvement of living standards and the continuous maturity of consumption concepts, consumers no longer pursue basic cosmetics whitening and moisturizing effects alone, but pay more attention to product safety, pertinence, and professionalism, and pay more attention to product ingredients. Continuous improvement, periodic and reasonable repeated purchase of cosmetics suitable for their skin type has become a daily demand of many consumers. Cosmeceuticals have the characteristics of "natural, safe and effective". In 2019, the global cosmeceuticals market has reached 52.4 billion U.S. dollars, a year-on-year increase of 5.86%.

Europe has a major market share

Since people in Europe and the United States want to look younger, dry weather and genetic inheritance have caused most Europeans and Americans to have drier skin, so they have a great demand for beneficial and multifunctional cosmetics. On the other hand, the cosmeceutical market in Europe and the United States has a long history. cosmeceutical brands such as Vichy, Avène, and La Roche-Posay have long taken root in local cosmetics. Europeans and Americans prefer pure natural and organic products, so there is a large demand for cosmeceuticals.

According to data from Grand View Research, the European region accounts for about 32% of the global cosmeceutical market, and is the world’s largest consumer market for cosmeceuticals; the United States accounts for about 22% of the market share. Europe and the United States together account for more than half of the global cosmeceutical market.

The development of cosmeceuticals in different countries around the world has its own characteristics

Only Japan has given the official "name" for "Drug Cosmeceuticals"

Most countries have not written "cosmeceuticals" as an independent category in their regulations. Currently, only Japan has given the official status of cosmeceuticals, and cosmeceuticals can be classified as "external medicines" in Japan. As the European region that occupies the largest cosmeceutical market, the "EU Cosmetics Regulation EC 1223/2009" in EU law regulates products with both cosmetic and cosmeceutical functions as drugs.

France follows European and American laws and treats it as a drug for supervision. The U.S. Food and Drug Administration also classifies "both drugs and cosmetics" products as non-prescription drugs and supervises them as drugs.

Ingredients and technology are the main features of cosmeceuticals

The research and development of cosmeceutical products in different countries have their own characteristics. Japanese cosmeceuticals pay attention to the use of natural raw materials, adhere to "health without additives" while integrating science and technology, and Japanese cosmeceuticals have a complete range of high, middle and low grades, which are favored by many consumers with high cost performance.

The characteristics of French cosmeceuticals are mainly hot spring water and natural plants as the main ingredients, low technology content, single function, but the mild anti-allergic moisturizing effect is first-rate, the product positioning is mainly for people with sensitive skin. U.S. cosmeceuticals use patented formulas as the main ingredients, with high technology and the concentration of active ingredients in the products is much higher than that of Japanese and French cosmeceuticals.

Pharmacy is the most important channel for cosmeceuticals

In terms of sales channels, Japanese and French cosmeceutical products are mainly sold in pharmacies. Japanese drugstores are very mature. The concentration of chain drugstores is high, about 70%. In recent years, the total sales of cosmetic care in Japanese chain drugstores have exceeded 70 billion yuan. However, Japanese drugstores are highly competitive and often sell products in a promotional manner. At the same time, they have the characteristics of fast product updates and rich categories.

There are two types of drugstores in France, Parapharmacie and Pharmacie. The U.S. cosmeceutical sales channels are more diversified. The cosmeceutical products are not only sold in pharmacies, but also in CS stores, supermarkets, department stores, and e-commerce channels.

Only French cosmeceutical brands have a higher concentration

In the cosmeceutical brand competition, there are thousands of Japanese cosmeceutical brands, and brands of different grades also have everything, and the competition is fierce. However, on the whole, Japan is positioned as a mid-to-low-end cosmeceutical brand occupying a major domestic market share. Representative Japanese cosmeceutical brands include Fuli Fangsi, Anesan, Sekkisei, and Dr.Ci:

In France, the four major brands of Vichy, La Roche-Posay, Yiquan and Avène occupy the main market share of French cosmeceuticals. In addition, American cosmeceutical brands such as Keyan's, Yue Muzhiyuan, and Xiuli Ke also have a place in France.

The competition for domestic cosmeceutical brands in the United States is also fierce, and the brand market structure is relatively fragmented. However, most of the better-developed brands belong to international cosmetics giants such as L'Oreal Group, Estee Lauder Group, and Coty Group. Therefore, the corporate market structure is relatively concentrated and representative brands There are Keyan's, Xiulike, Shilefu, Yuemuzhiyuan and so on.