Bio-Based Cosmetics and Personal Care Ingredients | Industry Growth and Future Analysis

The total value of the global bio-based cosmetics and personal care ingredients market was USD 4,550.6 million in 2021, and it will rise at a growth rate of above 5.3% shortly, reaching USD 7,271.7 million by 2030, according to P&S Intelligence.

This growth can be ascribed to the rising cosmetics sector, increasing knowledge about the damaging effects of artificial chemicals, and the rising effect of marketing approaches on customer trust are some of the robust factors driving the development of the industry.

In 2021, the bio-based ingredients utilized in skin and sun care solutions made approximately USD 2 billion in revenue. Such elements hold the largest share of the industry, and they are projected to remain in the top spot in the future as well.

North America dominated the bio-based cosmetics and personal care ingredients industry with around 45% share, in 2021. The growing customer focus toward multifunctional personal care items, demanding lifestyles, and growing working populace are driving the development of the market in the continent.

North America is a key industry for skincare and haircare items because of the growing knowledge among individuals on skin and hair care especially in the male populace. 

The high disposable revenue in North America also helps the demand for haircare and skincare products, which boosts the need for bio-based elements in the continent.

Increasingly, individuals are turning more worried about their looks, so they are looking for improved substitutes to the old-style cosmetic items in the industry. 

Establishments are investigating deeper into all thinkable aspects of attractiveness and well-being, examining customer behavior and prettiness aspirations, understanding the ecology of the hair and skin, and refining sustainable growth approaches.

Hence, the rising cosmetics sector, increasing knowledge about the damaging effects of artificial chemicals, and the rising effect of marketing approaches on customer trust are some of the robust factors driving the development of the industry.

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How Modern Science Has Rejuvenated Beauty Devices?

In today’s world, physical appearance matters more than inner beauty, with people judging others by their overall appearance. Females are more concerned about their beauty than males. As a result, most females spend a lot of money and time on cosmetic products and surgeries. With the development of technology, plenty of beauty devices have been launched that offer effective cosmetic solutions for both men and women. These devices can help deal with a variety of skin issues, such as acne, stretch marks, and photoaging.

When it is about beauty treatments, most people seek out a salon. However, with an increasing number of people becoming aware of their appearance, companies have begun launching beauty devices that can be used easily at home, without the need for much technical knowledge. For instance, Perso, a home-use beauty device by L'Oréal S.A., uses AI to analyze the condition of the skin in real time and offer customized moisturizer, under-eye cream, and serum formulae. As a result of the launch of such easy-to-use products, the global beauty devices market is expected to reach USD 311,095.1 million by 2030.

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Beauty Device Companies Leveraging Rising Dermatological Disease Incidence

Excessive exposure to pollutants and ultraviolet (UV) radiation causes sunburns, impaired skin flexibility, and hair loss, which lead to skin illnesses, such as photoaging, acne, dyspigmentation, psoriasis, hyperpigmentation, freckles, deep wrinkles, melasma, and atopic dermatitis. Moreover, alcohol use, pollution, and cigarette smoking contribute to the occurrence of such skin problems. In fact, acne affects up to 9.4% of the world’s population and 50 million in the U.S. alone every year. Beauty devices are increasingly being used to treat them, which has sprung the manufacturers of these products, who are now marketing them more aggressively than ever, especially on social media and other digital channels.

Importance of Beauty Devices in Modern Life

Cosmetics have been used for hundreds of years. Ancient Egyptians, for example, applied heavy eyeliner, while Europeans applied blush and foundation to achieve a smooth and pore-free look. With time, technology has become smarter; as a result, many devices have been launched that provide everlasting beauty.

• Increase Self-Assurance

Using cosmetic products and making the effort to look attractive are considered relaxing. Many individuals consider it to be a crucial part of self-care. Beauty products are used by females and even males all over the world because they influence their beauty.

• Keep Skin Healthy and Glowing

The skin is exposed to various external forces and requires care to maintain its sheen and health. A regular skincare regimen and the use of the correct beauty devices may aid in the prevention of acne, the reduction of wrinkles, and maintenance of the overall health of the skin. Polishing the skin removes pollutants and also opens the pores.

• Offer a Younger Appearance

Skin cells also age as people get older, resulting in flatness and an absence of radiance. The body ultimately replaces the dead skin cells with new ones, a process that can be stimulated by certain energy-based aesthetic devices. As a result, utilizing the appropriate cosmetic products can help reverse skin aging.

How Social Media Is Playing an Important Role?

These days, people are deeply influenced on their appearance by social media platforms. Instagram, a popular social media platform for beauty brands has improved its in-app shopping features, allowing businesses to promote and sell their items online. Moreover, Instagram allows firms to find clients, communicate with them, and advertise all the products in one place, thus making purchases easy. Virtual try-on is made easier with augmented reality elements, while in-app reminders allow businesses to send messages to customers. Similarly, Facebook, YouTube, Pinterest, and many other social media websites have become popular marketing tools for beauty device companies.

Growing Awareness Related To Beauty Devices 

Awareness about the safety and benefits of energy-based beauty devices, particularly laser-based devices, has made people more inclined toward these products. Wrinkles, skin laxity, and fine lines can all be reduced using laser-based skin tightening procedures. When compared to traditional, surgical beauty procedures, energy-based aesthetic devices provide a lot less skin invasion, fewer side-effects, less discomfort, and quick recovery. Furthermore, these technologies are painless, economical, and give quick results.

Hence, the demand for beauty devices will rise due to the technological advancements in and increasing awareness about these products.

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Sales of Skincare Devices Set to Explode in Asia-Pacific in Future

The growing prevalence of skin diseases is pushing up the demand for skincare devices across the world. As per the World Health Organization, nearly 132,000 people are diagnosed with melanoma all over the world every year. Furthermore, the organization reported that non-melanoma skin cancer affects between 2 and 3 million people around the world every year. Some of the major reasons behind the high incidence of skin diseases are excessive tobacco and alcohol consumption, anxiety, and stress.

The rising prevalence of skin cancer and various skin problems is also causing a sharp surge in the sales of skin devices across the globe. Besides this, the soaring population of geriatric people is also propelling the global demand for skincare devices. This is because dryness, skin sagging, pigmentary alteration, and wrinkles are highly prevalent among old people, on account of the reduced glandular and vascular network in their skin layers and the loss of fibrous tissue in their skin.

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Because of the aforementioned reasons, skincare devices and anti-aging devices are increasingly being used by geriatric people. These devices revitalize and tighten their skin and help them attain a youthful look. Apart from these factors, the rapid advancements being made in skincare devices are also propelling the progress of the skincare devices market. Due to these advancements, it is now possible to effectively treat sun spots, cellulite, and fine lines.

For example, Lumenis Ltd. launched Legend Pro+, which is a new face and body platform that provides long-term efficacy, minimal pain, and immediate results without any requirement for anesthesia. Due to these factors, the global skincare devices market is demonstrating rapid advancement. The valuation of the market is predicted to rise from $9,531.9 million in 2019 to $28,157.2 million by 2030. Furthermore, the market is predicted to progress at a CAGR of 11.0% between 2020 and 2030.

Based on application, the skincare devices market is categorized into disease diagnosis & treatment, skin tightening and body contouring, cellulite reduction, hair removal, and skin rejuvenation. Out of these, the hair removal category is predicted to record higher growth in the market in the future years. This is ascribed to the rising public awareness about laser hair removal devices in several countries and the surging requirement for laser hair removal devices around the world. 

Additionally, with rapid expansion in the global e-commerce industry, laser hair removal products for home usage are easily available via various online portals. Geographically, the North American skincare devices market recorded the highest growth in the past, due to the presence of a large population and the high incidence of skin problems in the region. In the future, the market will exhibit the fastest growth in Asia-Pacific (APAC), as per the estimates of the market research company, P&S Intelligence. 

Hence, it is safe to say that the sales of skincare devices will shoot-up all over the world in the forthcoming years, primarily because of the rising prevalence of skin diseases and the surging geriatric population.

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