Anti-acne cosmetics include facial cleansers, creams, serums, toners, face masks and sunscreens that help control excessive sebum production and remove impurities from pores without aggravating acne. These products are widely used to treat and prevent acne by diminishing inflammation and slowing bacterial growth. The global anti-acne cosmetics market is estimated to be valued at US$ 2591.87 Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The opportunity of rising youth population is estimated to boost the growth of the anti-acne cosmetics market during the forecast period. According to the United Nations Population Fund, around 1.8 billion people were between the ages of 10 to 24 years in 2020 which accounted for approximately 23% of the global population. The prevalence of acne is high among individuals aged 12 to 24 years. Therefore, the increasing youth population worldwide is likely to drive the demand for effective anti-acne cosmetics such as facial cleansers, creams, lotions and masks over the next few years. The growing youth populace will raise awareness about numerous cosmetic products available in the market for controlling acne, thus propelling the anti-acne cosmetics market growth.
Porter's Analysis
- Threat of new entrants: The threat of new entrants in moderate due to high R&D and branding costs required to enter the anti-acne cosmetics market.
- Bargaining power of buyers: The bargaining power of buyers is high due to the presence of many established brands and product differentiation.
- Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many ingredient suppliers and brands can switch to alternative suppliers.
- Threat of new substitutes: The threat of new substitutes is moderate as there are few substitute products for anti-acne cosmetics.
- Competitive rivalry: The competitive rivalry is high among the major brands.
SWOT Analysis
- Strengths: Wide product ranges, strong brand loyalty, large distribution networks.
- Weaknesses: High R&D and marketing costs, dependency on brands performance, commodity pricing.
- Opportunities: Growing millennial population, rise in income levels in developing nations, new product innovations.
- Threats: Stringent regulations, increasing raw material costs, slow economic growth.
Key Takeaways
The global anti-acne cosmetics market is expected to witness high growth driven by a rise in pollution levels, changing lifestyles, and growing beauty consciousness.
Regionally, North America is expected to dominate the market owing to a high number of acne cases and a growing teenage population in the US and Canada adopting anti-acne cosmetic products. Europe is also projected to account for a significant market share due to the high spending power and rising demand for natural and organic anti-acne products in countries like Germany, UK and France.
Key players operating in the anti-acne cosmetics market are Clinique Laboratories, LLC., Neutrogena, Ancalima Lifesciences Ltd., Guthy-Renker, Murad Inc, L'Oréal S.A., The Mentholatum Company Inc., Kosé Corporation, and Galderma Laboratories LP. Clinique Laboratories LLC. holds a leading market position due to its wide distribution network and specializedanti-acne skin care ranges for all skin types.
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