Products containing this ingredient range from lipsticks, gels, balms, to fragrances, moisturizers, and shampoos. CBD is known to treat dry skin, psoriasis, and eczema and is being utilized in several beauty products. Cannabidiol (CBD) is one of the 80 compounds called cannabinoids extracted from the cannabis sativa plant.
User experience is also considered while undertaking personalization. This acts as a restraint for manufacturers and subsequently hampers their business decisions and activities.Īn opportunity exists in the segment of personalized cosmetic skin care products, wherein manufacturers take into account specific details of individuals such as weather, skin type, pollution levels where they live, and myriad other details to ensure that the product is compatible with and effective on the user’s skin. However well-intentioned the regulations may be, they impose a compliance cost on the cosmetic skin care manufacturer, due to a rise in the investment needed to develop and implement testing mechanisms to ensure the safe level of chemicals in the final product. The regulations require a product to be certified organic in order to be sold in the market as an organic cosmetic skin care product. These regulations have been enacted to ensure the safety of the ingredients used and to protect consumers from the side-effects of chemical-based products. Government regulations ban the use of certain chemicals in cosmetic skin care products. Stringent regulations enacted by governments across the globe regarding the ingredients used in cosmetic skin care products is a key factor restraining the cosmetic skin care market. Asia Pacific and North America dominate the cosmetic skin care market, due to high demand and usage of products as well as the high disposable income of the people in these regions. This factor drives the global cosmetic skincare market. Increased disposable income is linked to a rise in consumption activity, owing to an increased capacity to spend. Key markets across the world are witnessing a rise in disposable income. The market dynamics of the global cosmetic skin care market are subject to factors primarily related to the preference for organic cosmetic skin care products, which have emerged as a key driver of the global cosmetic skin care market, due to the side-effects of chemical-based products.
Asia Pacific accounted for the highest share of the global cosmetic skin care market, and was valued at US$ 32.1Bn in 2017. The global cosmetic skin care market is expected to reach around US$ 130.4 Bn by 2027.
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