The cosmetics market is on an upward growth curve owing to more and more people asking for effective and premium skin and hair care products. And, the probiotic variants are particularly in demand, especially for hair cosmetics. Stress, pollution and poor diets are creating a number of issues with hair and scalp health. This is leading to demand for specialized solutions, contributing to significant growth in the global probiotic cosmetic products market. It is quite significant to note here that demand is not just arising from the young demographic but also from older one that is looking for serums, hair dyes, and oils.
Healthy lifestyle is one of the most significant drivers of growth in the probiotic cosmetics market. As people lead a very stressful life due to longer work hours and increasing work load, diets and proper exercise go for a toss. This impacts skin and hair health in a major way. To compensate for this cosmetics are used and the probiotic products are growing in popularity owing to perceived better results.
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Transparency Market Research conducted an extensive research study on probiotic cosmetic products market and the findings show that the market is set to grow at a sturdy rate over the forecast period of 2019 to 2029, sowing new opportunities along the way. The growth in market worth will keep the market players on their toes.
It is significant to note here that a very important consumer group for the global probiotic cosmetic products market is the new-age millennial consumer. This consumer is aware and conscious of his choices and the impact they make on his surroundings. This is propelling demand for natural and organic products, driving the market up for probiotic cosmetic products.
North America to Ride the Wave of Demand for Natural and Organic Ingredients in Products
A major share of the global probiotic cosmetic products market will be accounted for by North America owing to massive shift towards a healthier lifestyle. More people are asking for nature-based products. Besides, large chunks of the consumer base are people who are looking out for the environment. Additionally, consumers in the region have a very high disposable income and are ready to pay a premium price for these products to avoid the harmful impact of chemical based products. It is significant to note here that the United States of America and Canada.
Europe will also contribute a significant share to the market growth over the forecast period owing to higher awareness level, presence of some very well-known players, and high purchasing power possessed by consumers in the region.
It is also important to mention Asia Pacific (APAC) region here. It is set to be a lucrative market, attracting a number of major players to its landscape by generating a plethora of growth opportunities. These would be novel and untapped and make the players clamor to make the most of them. Besides, as the nations in the region show a robust economic growth, prospects for probiotic cosmetic products market get better. The demand improves with increase in disposable incomes which lead to improvement in living standards.
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Fragmented Vendor Landscape to Witness Intensifying Competition over the Forecast Period
A large number of players are dabbling in the probiotic cosmetic products market and a significant number is ready to enter the fray. This is not surprising considering that market is growing and players would want to grab a share from the overall pie. Prominent names flanking the market are Aurelia Skincare Ltd., Esse Skincare, Gallinée, GLOWBIOTICS Inc., Johnson & Johnson, L’Oréal SA, The Clorox Co., The Estée Lauder Companies Inc., The Procter & Gamble Co., and Unilever Group, among others.