Growing popularity snail beauty products and surge in adoption of alternative medicine for treating skin issue
PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATE, October 28, 2022 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Snail Beauty Products Market,” The snail beauty products market size was valued at $457.50 million in 2021, and is estimated to reach $982.70 million by 2031, growing at a CAGR of 8.3% from 2022 to 2031. Snail slime is used to make snail beauty items. External mucous that a snail secretes through its body is known as snail slime. Hyaluronic acid, glycolic acid, and elastin are antioxidants found in snail mucin that improve appearance of wrinkles, dark spots, acne, rosacea, and other skin conditions. Customers can easily find snail slime-based face creams, face masks, anti-aging creams, serums, moisturizers, and toners on online and offline distribution channels. In addition, owing to rise in knowledge of advantages of using snail-based personal and beauty care products, snail beauty products are becoming increasingly popular in developed economies such as North America and Europe.
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Various micro and macro factors contribute toward growth of the snail beauty products industry such as rise in disposable income, increase in millennial population who are targeted consumer base for most of personal and beauty care products, and growth in area under snail farming. For instance, per capita disposable income in emerging economies has increased considerably over past few years. The per capita income of emerging economies, such as China, increased by 8.0% from 2020 to 2021. While India’s disposable personal income increased by around 12.3% in 2021. Growth in popularity for vegan and organic cosmetics and high market hold of natural and chemical amalgamated beauty care products are major restraining factors for growth of the market. Furthermore, rise in concerns regarding animal welfare and demand for animal cruelty free beauty products are expected to restrain growth during the snail beauty products market forecast period.
According to the snail beauty products market analysis, the snail beauty products market is segmented into product type, application, distribution channel, and region. By product type, it is segregated into multi-function cream, cell renewal cream, anti-aging cream, anti-acne cream, and others. On the basis of application, the market is categorized into skin and hair. On the basis of distribution channel, the market is categorized into hypermarkets & supermarkets, specialty stores, and e-commerce. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Thailand, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
According to the snail beauty products market opportunity, Asia-Pacific gained the highest snail beauty products market share in 2021, and is expected to maintain its share throughout the forecast period. Growing popularity for K-beauty products and rise in use of innovative cosmetic ingredients in beauty products with impactful results on skin and hair are expected to support growth of the snail beauty products market demand. For instance, according to estimations by Allied Market Research, the K-beauty products market is projected to reach $13.9 billion by 2027, growing at a CAGR of 9.0% from 2021 to 2027.
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Players operating in the global snail beauty products industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report Mizon, InnoVactiv, Clariant, Kenra Professional LLC, Croda International PLC, COSRX Inc, SkinCeuticals Inc, Kao Corporation,
Key findings of the study
The snail beauty products market size was valued at $457.5 million in 2020, and is estimated to reach $982.7 million by 2031, registering a CAGR of 8.3% from 2022 to 2031.
In 2021, on the basis of product type, the cell renewal cream segment acquired $79.2 million, exhibiting 17.3% of the global market share.
In 2021, on the basis of application, the hair segment acquired $44.4 million, exhibiting 9.7% of the global market share.
In 2021, on the basis of distribution channel, the hypermarket and supermarket segment acquired $186.4 million, exhibiting 40.7% of the global market share.
South Korea was the most prominent market in Asia-Pacific in 2021, and is projected to reach $131.8 million by 2031, growing at a CAGR of 5.7% during the forecast period.
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