Functional Cosmetics Market Analysis

The market is segmented by end-user into male, female, and unisex, out of which, the male segment is anticipated to witness highest growth in the global functional cosmetics market over the forecast period as cosmetic companies are focusing on the male consumers by manufacturing specific products catering to the needs of men. Moreover, men are becoming more aware of their looks and overall wellness, which is anticipated to boost the segment growth. On the other hand, the female segment is estimated to hold the largest share by the end of 2022, owing to the diverse and multi-functional products manufactured to cater to the needs of women. Moreover, the companies focus specifically on women between ages 15 t0 64, as this is the biggest consumer base for functional cosmetics. According to the data by the World Bank, there are 2,492 billion women, and 2.567 billion men between ages 15 to 64, as of 2020. Moreover, the share of women is constantly increasing, which is further expected to impact the segment growth.

Our in-depth analysis of the global functional cosmetics market includes the following segments