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Pharmacy benefit management market
Report Overview
The global exfoliating agent market size was USD 1803.1 million in 2022. The global COVID-19 pandemic influence has been unprecedented and staggering, with the Exfoliating Agent market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to reach USD 2442.6 million by 2028, exhibiting a CAGR of 5.2% during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic and political tensions are over.
Exfoliating agents are substances used to remove dead skin cells, impurities, and excess oil from the skin's surface. These agents can be physical or chemical and are used in various personal care and cosmetic products such as facial scrubs, body washes, and exfoliating masks. The increasing popularity of personal care and beauty products and growing awareness among consumers about the benefits of exfoliation are driving the growth of the Exfoliating Agent market.
The demand for Exfoliating Agents is increasing due to their ability to provide deep cleansing and enhance skin texture, thereby promoting healthier-looking skin. Additionally, the rising popularity of organic and natural products and the increasing use of exfoliating agents in anti-aging products are further boosting market growth. Moreover, the growing demand for personal care products in emerging economies and the increasing adoption of e-commerce platforms for product sales are expected to create lucrative opportunities for market players in the coming years.
COVID-19 Impact: Navigating Mixed Impact of COVID-19 on Exfoliating Agent Market.
The outbreak of the COVID-19 pandemic has caused significant disruptions in the global economy, including the Exfoliating Agent market. On one hand, the pandemic has led to supply chain disruptions, reduced consumer spending, and manufacturing facility closures, negatively impacting the market. On the other hand, the increased awareness of personal hygiene and self-care practices has led to a surge in demand for personal care products, including exfoliating agents. Despite the challenges, market players can capitalize on the opportunities presented by the increased demand for personal care products and the growing popularity of self-care practices by adapting to changing consumer behavior and navigating the supply chain disruptions.
Latest Trends
"Emerging Products and Technologies Driving Growth in the Market"
The Exfoliating Agent market is constantly evolving, driven by emerging trends and advancements in technology. One of the major trends is the growing demand for natural and organic exfoliating agents. Consumers are increasingly looking for products that are free from harsh chemicals and are derived from natural ingredients. This has led to the development of several natural exfoliating agents, such as jojoba beads, bamboo powder, and crushed walnut shells, which are gaining popularity in the market.
Another trend in the market is the launch of innovative products that offer multiple benefits. Many leading players in the market are introducing exfoliating agents that not only remove dead skin cells but also provide hydration, anti-aging benefits, and protection from environmental pollutants. These multi-functional products are becoming increasingly popular among consumers who are looking for convenience and simplicity in their skincare routines.
Additionally, the use of advanced technologies, such as nanotechnology and microencapsulation, is on the rise in the development of exfoliating agents. These technologies allow for better penetration and absorption of active ingredients, resulting in more effective exfoliation and skin rejuvenation.
Overall, the exfoliating agent market is witnessing exciting trends and advancements, driven by consumer preferences and technological innovations. Leading players in the market are keeping pace with these trends by launching innovative products and leveraging advanced technologies, thereby driving growth and maintaining their market position.
Segmentation
- By Type Analysis
According to type, the market can be segmented into physical exfoliating agent, chemical exfoliating agent and exfoliating agent.
- By Application Analysis
Based on application, the market can be divided into facial care and body care.
Driving Factors
"Rising Demand for Natural and Organic Skincare Products to drive market growth"
The Exfoliating Agent market is experiencing substantial growth, driven by several factors. One of the primary driving factors is the rising demand for natural and organic skincare products. Consumers are increasingly concerned about the potential side effects of synthetic and chemical-based skincare products and are opting for natural and organic alternatives. This trend is especially prevalent in developed countries, where consumers have higher disposable incomes and are more aware of the potential health and environmental risks associated with synthetic skincare products.
"Growing Importance of Personalized Skincare Regimens, to boost chemical demand"
The Exfoliating Agent market is also growing due to the growing importance of personalized skincare regimens. Consumers are increasingly seeking personalized skincare solutions that are tailored to their specific needs and preferences. This trend is being driven by factors such as increasing awareness of skin sensitivity and the desire for customized solutions that address individual skincare concerns. Exfoliating agents are an essential component of personalized skincare regimens, as they help to remove dead skin cells, unclog pores, and promote skin renewal, leading to healthier, brighter-looking skin.
Restraining Factors
"Increasing Availability of DIY and At-Home Skincare Products, may pose a threat"
Many consumers are now opting to make their skincare products at home or purchase affordable skincare products that claim to provide similar benefits as professional-grade products. This trend is posing a threat to the exfoliating agent market, as consumers may opt for DIY or affordable alternatives rather than purchasing professional-grade exfoliating agents. This trend is more prevalent among price-sensitive consumers, who are looking for affordable skincare solutions without compromising on quality.
Regional Insights
"North America to dominate the Market due to the high demand for skincare products"
North America dominates the Exfoliating Agent market and is expected to maintain its dominance during the forecast period. This can be attributed to the high demand for skincare products and the presence of major market players in the region. The region is home to some of the world's largest skincare companies, which are constantly developing new and innovative exfoliating agents to meet the growing demand from consumers.
Asia Pacific is expected to show promising growth during the forecast period. The region's growth can be attributed to the increasing demand for skincare products and the growing awareness about the benefits of exfoliating agents. The region is also home to a large population, which is driving the demand for skincare products. Additionally, the rising disposable incomes of consumers in the region are enabling them to spend more on personal care products, including exfoliating agents.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- BASF
- Clariant
- Evonik
- DSM
- Dow
- Symrise
- Croda
- Seppic
- Ashland
- Solvay
- Gattefosse
- Eastman
- Nouryon (AkzoNobel)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 1803.1 Million in 2022 |
Market Size Value By |
US$ 2442.6 Million by 2028 |
Growth Rate |
CAGR of 5.2% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What is the size of the global Exfoliating Agent market as of 2022?
The global Exfoliating Agent market size was USD 1803.1 million in 2022.
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What is the expected market size of the global Exfoliating Agent market by 2028?
The global Exfoliating Agent market is expected to reach USD 2442.6 million by 2028.
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What is the expected CAGR of the global Exfoliating Agent market during 2022-2028?
The global Exfoliating Agent market is expected to exhibit a CAGR of 5.2% over 2022-2028.
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What are the driving factors of the Exfoliating Agent market?
The driving factors of the Exfoliating Agent market include rising demand for natural and organic skincare products, growing importance of personalized skincare regimens, increasing popularity of personal care and beauty products, rising demand for anti-aging products, and increasing adoption of e-commerce platforms for product sales.
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Which are the top companies operating in the Exfoliating Agent market?
The top companies operating in the Exfoliating Agent market include BASF SE, Croda International Plc, Dow Inc., Evonik Industries AG, and Solvay SA.