Development in the field of skin care, especially with the increased usage of nanomaterial in cosmetic products is driving the cosmeceutical market, says RNCOS in its latest research report.
Cosmeceutical are naturally-derived and synthetic; and contains functional ingredients with either therapeutic, disease fighting, or healing properties. The growing concern on the appearance and high aesthetic consciousness is driving the European cosmeceutical market, which was estimated at US$ 6.3 Billion in 2016. Further, it is anticipated to reach US$ 8.7 Billion by 2022, growing at a CAGR of around 6% during the forecasted period of 2017-2022.
As per our latest research report “Europe Cosmeceutical Market Outlook 2022”, the increased usage of nanomaterial in cosmetic products is indicative of the huge potential of nanotechnology for the cosmetics industry. Corrective items such as lotions, make up, sunscreen, etc. have found the use of nanotechnology and nanomaterial in them. Further, nanotechnology is playing an important role in cosmeceutical by delivering active ingredients to the skin while acting as the root of numerous innovations.
The cosmetic and personal care industry has revolutionized cosmeceutical industry owing to the ability of its products that resolves imperfection. Rising consumer consciousness on the appearance among European populace has led to astonishing growth of the industry. Also, recently European government also announced its support by making several amendments regarding usage of nanotechnology in cosmetics.
Further, cosmeceutical players are playing significant role in boosting the European cosmeceutical market by launching new products while extending the product line through their segments namely skin care, hair care etc. Therefore such developments are motivating the formulators to develop the products while meeting the demand of the increasing number of consumers in the continent. Thereby, exhibiting a very promising future for the investors looking to venture into the industry.
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