Global Probiotic Cosmetic Products Market 2019-2023
About this market
High demand for beauty products among men to drive market growth. Beauty products witness high demand from men and women equally. Therefore, vendors are emphasizing on developing beauty products for men. Hence, a wide variety of BPC products for men are available in the market across different categories such as skincare, hair care, and fragrances. Technavio’s analysts have predicted that the probiotic cosmetic products market will register a CAGR of over 7% by 2023.
Growing wellness industry propelling demand for professional probiotic cosmetic products
The global probiotic cosmetic products market and the global wellness industry are mutually dependent. The rise in health consciousness among consumers and the increasing adoption of a healthy and balanced lifestyle drive the global wellness market, with salons and spas being the core contributors.
High competition from low-priced alternatives
The availability of several low-priced alternatives hinders the sales of probiotic cosmetic products. Price-sensitive customers prefer regular skincare and hair care products over probiotic cosmetic products. Therefore, the manufacturers of probiotic cosmetic products focus on their pricing strategy and often compromise on their profit margins. This serves as a price challenge for the vendors operating in the global probiotic cosmetic products market.
For the detailed list of factors that will drive and challenge the growth of the probiotic cosmetic products market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including The Estée Lauder Companies and Unilever the competitive environment is quite intense. Factors such as the growing wellness industry propelling demand for professional probiotic cosmetic products and the high demand for beauty products among men, will provide considerable growth opportunities to probiotic cosmetic products manufactures. ESSE SKINCARE, L'Oréal, Procter & Gamble, The Estée Lauder Companies, and Unilever are some of the major companies covered in this report.
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