Skincare Nutritional Serum Market Size

Skincare Nutritional Serum Market Size

Skincare Nutritional Serum Market size was valued at around USD 3.43 billion in 2023 and is anticipated to register a CAGR of 5.7% between 2024 to 2032. Driven to several reasons, including rising consumer awareness about importance of skin health, rising demand for anti-ageing product, increasing acceptance of personalized skincare.

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The demand for eco-friendly skincare products that are made with ingredients sourced sustainably, packaged in recyclable or biodegradable materials, and manufactured using environmentally friendly processes has increased due to growing concerns about climate change, deforestation, and plastic pollution. As a result of this, skincare companies are under increasing pressure to meet customer desires for more environmentally friendly and sustainable products.
 

The market for skincare nutritional serum is also driven by the rising working women followed by increasing disposable income. According to the U.S. Bureau of Labor Statistics, the workforce participation rate for women in their prime working age hit an all-time high in June 2023, reaching 77.8%. As per the statistical office of the European Union, in 2022, the European Union employment rate for women at 69.3 %. Among the European Union Member States, the employment rate in 2022 ranged from 82.9 % in the Netherlands to 64.8 % in Italy. For instance, as per the Advanced Dermatology survey on average, Americans spend $722 on their appearance, including skin care, each year.
 

Adverse reaction or side effects emerging as one of the major barriers for skincare nutritional serum market. Beauty products such as skincare products, hair products, fragrances, oral hygiene, and nail products, which may contain toxic chemicals that can be harmful to health are used especially by women. Various toxic ingredients and hazardous chemicals used in cosmetics are incorporated in beyond acceptable limits. These chemicals may cause serious ill effects on skin and may also enter the skin and other organs causing carcinogenicity.
 

On the other hand, regulatory standards in the cosmetics industry can vary significantly across countries due to differences in laws, regulations, and cultural preferences. Appropriate knowledge of the regulations before manufacturing the product can impact the entire value chain. Regulatory Professionals with a proven track record who are aware of the Regulatory obligations and safety concerns associated with the chemicals can help to deliver safe and compliant products to the market.