Year: 2019 and 2027
Market size: $252.5 million and $418.1 million, respectively
According to the Statista Global Consumer Survey, the top two New Year’s resolutions in 2021 were “exercise more” and “eat healthier”. In fact, almost all of the resolutions in the top 10 relate in some way to either physical or mental health. But what about skin health?
Today’s market size shows global revenues for probiotic cosmetic products in 2019 and projected for 2027.1 This is a niche within the overall global $145.3 billion cosmetic skincare market.2 In 2019, about 1.9 billion people around the world suffered from skin-related issues. The growing acceptance of probiotics as dietary supplements for a healthy gut microbiome has led to increasing interest in probiotic cosmetic products for a healthy skin microbiome. Probiotic cosmetic products are topical over-the-counter products used to treat acne, eczema, rosacea, psoriasis, and chronic inflammation. They are also associated with skin hydration and anti-aging. Interest in a healthy skin microbiome has grown dramatically in the past 10 years. Since 2010, the number of internet searches for “probiotic+skin” has quadrupled.To meet the growing demand, small startups, as well as large, established corporations, have been including probiotics in their skincare and haircare product lines, either through innovation and new product launches or through mergers and acquisitions. Kerry Group, Unilever, and L’Oréal each have either acquired or invested in smaller companies in order to expand their product portfolio into this segment of the industry. Other major manufacturers of probiotic cosmetic products include Esse Skincare, Estée Lauder Companies Inc., Aurelia Skincare Ltd., Tula Life Inc., Eminence Organic Skincare, LaFlore Probiotic Skincare, Glowbiotics Inc., and the Clorox Co. As of January 2020, there were 254 topical probiotic cosmetic products on the market around the world. Australia, Canada, the United States, China, and Russia offer the highest number of probiotic products targeting the skin microbiome.
More than 39% of revenues came from hypermarkets and supermarkets, followed by pharmacies and drug stores, and e-commerce. The e-commerce channel is expected to be the fastest-growing revenue source through 2027 as online shopping becomes more popular, internet penetration grows, and a wider range of products becomes available. Amazon.com, Sephora.com, Nykaa, and skinstore.com are some of the major retailers in this segment. North America garnered more than a third of revenues in 2019. Demand for products to treat acne and various skin diseases continues to grow. The Asia-Pacific region is expected to experience the fastest growth through 2027. More consumers are becoming aware of healthy skincare routines and the need for long-term solutions to skin problems. Also, local and regional manufacturers such as India-based Lotus Herbals are expanding their brand portfolios to include more probiotic cosmetic products.
The skincare industry as a whole has seen sales decline during the coronavirus pandemic because of business closures and stay-at-home policies implemented by governments around the world. Consumer spending also has shifted during the pandemic, away from premium, specialty products such as probiotic cosmetic products and toward basic skincare needs. More consumers are opting for less expensive, mass-market skincare products that are widely available in most stores. But, like the pandemic, sales declines will not last forever. Some analysts predict that revenues for probiotic cosmetic products will increase at a compound annual growth rate of 6.5% through 2027.
1 Data also includes hair care products, however, hair care products accounted for less than 10% of total revenues in 2019. Nonetheless, probiotic hair care product revenues are expected to grow the fastest through 2027.2 Figure is for 2020.
Sources: “Probiotic Cosmetic Products Market Size, Share & Trends Analysis Report by Product (Skin, Hair Care), by Distribution Channel (Hypermarket & Supermarket, E-commerce), by Region (APAC, North America), and Segment Forecasts, 2020 – 2027,” Grand View Research, December 2020 available online here; “Skin Microbiome Market: Probiotic Cosmetic Products ‘The Future’ of Skin Care?” Lumina Intelligence, June 19, 2020 available online here; “Global Cosmetic Skin Care Industry (2020 to 2027) – Market Trajectory & Analytics,” GlobeNewswire, September 25, 2020 available online here; “Probiotic Cosmetic Products Market Size, Share & Trends Analysis Report by Product, by Distribution Channel, by Region and Segment Forecasts, 2020 – 2027,” ReportLinker, December 2020 available online here; Claire Jenik, “America’s Top New Year’s Resolutions for 2021,” Statista, December 18, 2020 available online here.
Image source: AdoreBeautyNZ, “cream-lotion-hands-sunscreen-spa-4713579,” Pixabay, December 26, 2019 available online here.