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The antioxidant cosmetic products market size is estimated to grow at a CAGR of 7.34% between 2022 and 2027. The market size is forecast to increase by USD 18,833.21 million. The growth of the market depends on several factors, including product innovation and portfolio extension, increasing promotions of antioxidant cosmetic products online, and growth of the organized retail sector.
This antioxidant cosmetic products market report extensively covers market segmentation by distribution channel (offline and online), application (skincare, haircare, and color cosmetics), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing promotions of antioxidant cosmetic products online are notably driving the market growth, although growing price wars among market vendors may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing promotions of antioxidant cosmetic products online is notably driving the antioxidant cosmetic products market growth. Online retail decisions are heavily influenced by support and promotion across social media platforms. These platforms help online retailers connect and get customer feedback, and serve as key tools for developing new products, tracking brand and product reviews, and launching marketing campaigns. YouTube, Instagram, and Pinterest are important social media tools that most online retailers use for product launches and campaigns.
Social media and blogs related to personal care products, especially skincare and personal care products, are also driving the growth of the market. Social media benefits every industry as social investments help brands spend more efficiently. The proliferation of smartphones and the internet around the world has influenced the popularity of weblogs, primarily among millennials. Consumers today frequently turn to social media and blogs to learn about personal and beauty care products. Consumers of antioxidant cosmetics, especially millennials, rely heavily on online blogs to shop for face, body, and hair products. Social media and blogs are a great way to increase product awareness in the global market. , which had a positive impact on sales volume and revenue. Therefore, social media and blogging strategies are expected to be major drivers of the market during the forecast period.
The introduction of haircare products with value-added propositions is a key trend influencing the antioxidant cosmetic products market growth. Technological advances have increased the number of sophisticated and value-added hair care products on the market. The hair care products in the market are also witnessing numerous customized product launches to meet the demands of different customer segments. Major market players offer products to treat hair problems such as dry, oily, and damaged hair.
Additionally, vendors are starting to release advanced color care products, for example, Coty offers INVIGO Color Brilliance with Color Brilliance Blend Shampoo developed with Microlite Crystal Complex Technology. The company has developed this shampoo with antioxidant properties that protect keratin from harmful free radicals. Procter and Gamble also offer a coconut milk shampoo infused with antioxidants. This shampoo contains 0% parabens, gluten, and colorants. Many vendors are expected to launch new antioxidant hair care products during the forecast period.
Growing price wars among market vendors are challenging the antioxidant cosmetic products market growth. Intensifying price competition among suppliers is a major global challenge for the market. Some established players offer skin and hair antioxidants. However, the growth potential of antioxidant cosmetics has attracted new players to the market and increased competition. To offset this increasing competition and attract more customers, various players are offering discounted products.
For example, the LOreal Garnier brand offers antioxidant products starting at USD 4.00 in the US. Many global vendors are expected to cut prices of antioxidant cosmetics to stem the increasing competition during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Antioxidant Cosmetic Products Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Air Liquide SA: The company offers different types of antioxidant cosmetic products, especially Sepitone.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the offline segment will be significant during the forecast period. Antioxidant cosmetics are mainly sold through offline distribution channels including retail forms such as specialty stores, hypermarkets, supermarkets, convenience stores, and warehouse clubs. Offline distribution channels for antioxidant cosmetics can also be found in drugstores, salons and spas, department stores, medical clinics, and laboratories. These retail formats generate the majority of global sales. Sales of personal care products are determined in part by recommendations from clinics and medical institutions.
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The offline segment was valued at USD 30,889.12 million in 2017 and continued to grow until 2021. In 2022, the specialty retail format generated the largest revenue in the global antioxidant cosmetics market through offline distribution channels. The growing popularity of beauty and personal care specialty stores is driving the growth of this segment. Manufacturers rely on such retailers for marketing, advertising, and promotional activity budgets to increase product and brand awareness among customers.
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APAC is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
APAC is the largest revenue contributor in the market. Antioxidant skin-lightening creams, anti-aging, and sunscreen skin care products are in high demand in the region. Growing consumer awareness of personal hygiene and health is driving the demand for personal care products in APAC. Additionally, the proliferation of beauty salons has increased the demand for antioxidant skin care, hair care, and color cosmetics. China, Japan, South Korea, Australia, and India are the largest consumers of antioxidant cosmetics in this region. The region has seen an increase in social media campaigns and celebrity endorsements for personal care products, including antioxidant cosmetics. Ongoing promotional videos and celebrity ads on social media platforms such as YouTube, Instagram, and Facebook are influencing the buying behavior of consumers, especially millennials.
The COVID-19 pandemic had a negative impact on the market in 2020. Retail stores, supermarkets, hypermarkets, pharmacies, beauty salons, salons, and spas were temporarily closed due to nationwide lockdowns imposed by governments of different countries across the world. Antioxidant cosmetics manufacturers faced supply chain disruptions due to labor shortages, raw material shortages, and factory closures, impacting production capacity and negatively impacting the market. However, in 2021, COVID-19 vaccination campaign was conducted by various governments from across the world. Due to this market gradually returned to normal. Therefore, the demand for antioxidant cosmetics is expected to continue increasing during the forecast period.
The antioxidant cosmetic products market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global antioxidant cosmetic products market as a part of the global personal products market within the global household and personal products market. The parent global personal products market includes products and companies engaged in the research and development (R&D) and production of personal and beauty care products such as cosmetics and perfumes.
Antioxidant Cosmetic Products Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.34% |
Market growth 2023-2027 |
USD 18833.21 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.5 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 47% |
Key countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Air Liquide SA, Archer Daniels Midland Co., Ashland Inc., Barentz International BV, BASF SE, BIOTECNOLOGIAS APLICADAS SL, Camlin Fine Sciences Ltd., Croda International Plc, Eastman Chemical Co., Evonik Industries AG, Givaudan SA, IMCD NV, Industrias Asociadas S.L., Koninklijke DSM NV, Lonza Group Ltd., LOreal SA, Merck KGaA, NATURAL SOLTER SL, Provital SA, and Wacker Chemie AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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