New reports on anti-acne and lip care
Grand View Research (GVR) has published two new reports on the global anti-acne cosmetics and lip care products markets.
The anti-acne cosmetics market size is expected to reach $6.89 billion by 2028 registering a CAGR of 9.1%. Acne affects some 50 million individuals every year in the US, 85% of them between the ages of 12 and 24, and carries a heavy psychological burden, particularly for women.
The creams and lotions segment dominated the market in 2020 as cream is the first line of therapy for all types of acne and also provides skin moisturisation. However, other types are expected to register the fastest CAGR over the forecast period due to their lightness on the skin and greater compatibility with various skin types.
The lip care products market is expected to grow at a CAGR of 5.9% in the years to 2028, to reach a total of $3.1 billion. Demand is seeing rapid growth owing to the growing concerns over personal grooming and appearance. There is also increased adoption of vegan and organic lip care products by beauty and health-conscious consumers.
The largest part of the market is lip balms and it is expected to maintain its dominance over the forecast period. The growing availability of lip balms with various fragrances, flavours, plant-based ingredients, sizes and shapes, are boosting the market growth, GVR says.