Pearl Extract Market Gains Momentum at a CAGR of 9.1% to Hit US$ 725.21 Million by 2033 | Fact.MR
Pearl extract market revenue is expected to rise in United States as consumer awareness of their critical advantages in the skin care sector rises.
Rockville, Aug. 11, 2023 (GLOBE NEWSWIRE) — According to Fact.MR, the Pearl Extract Market is valued at US$ 303.1 million in 2023 and is anticipated to reach US$ 725.21 million by 2033. The market is anticipated to grow at a CAGR of 9.1% from 2023 to 2033.
The type, application, and sales channel are used to categorise the pearl extract market. Depending on whether they are freshwater or saltwater pearls, the global demand for pearl extract is split into two groups. Freshwater pearl extract is quite important, and as a result, it would account for a sizable portion of the market for pearl extracts as a whole.
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Key Takeaways from the Report:
- The global Pearl Extract market is expected to reach a market valuation of US$ 303.1 million by the end of 2033 whereas a demand growing at a CAGR of 9.1% over the forecast period.
- United States is projected to have the highest value share of 34.5% by 2023 in the Pearl Extract Market globally.
- Japan is projected to have the highest value share of 10.4% by 2023 in the Pearl Extract Market globally.
- India is estimated to have a value CAGR of 12.9% during the prediction period.
Increasing Demand for Cosmetic & Skin Care Products
With a variety of anti-aging and anti-acne benefits, pearl extract is a widely used and crucial ingredient in many skin care products used. Either in the form of tablets for oral consumption or as an ingredient in a variety of products, the pearl extract powder is readily available in global market
Market revenues for pearl extracts are expected to rise for the forecast period as consumer awareness of their critical advantages in the skin care sector rises. Pearl extracts help to maintain youthful skin and radiance thanks to their anti-inflammatory, hydrating, wrinkles, and anti-infective properties.
In comparison to cosmetic and personal care products, other uses for pearl extract—such as in pharmaceuticals, food, and beverages—are less common and less advantageous.
The main reason cosmetic and personal care products demand a high rate of Pearl Extract is because customers are very interested in cosmetic products and use a lot of creams, powders, lotions, and sunblock to protect the skin.
Due to its potential advantages for the skin, pearl extract has become increasingly popular in the skincare sector. Despite the paucity of scientific research on pearl extract, it is thought to have the following benefits: whitening and brightening, hydrating and moisturizing, and anti-aging Pearl extract has elements that could help to lighten skin tone and lessen the visibility of blemishes, dark spots, and hyperpigmentation.
It is frequently found in cosmetics meant to produce a complexion that is lighter and more radiant. Pearl extract has moisturizing qualities that can increase the skin’s level of hydration. It is thought to help the skin retain moisture, giving it a plumper, smoother, and suppler appearance.
Key Players Invest in Research & Development as the Ultimate Growth Strategy:
The competitive landscape is fuelled by the presence of national and international players. Leading Companies are implementing mergers & acquisitions and new product launches as key strategies to compete in the market. Acquisitions and mergers have facilitated companies to improve product quality and expand product reach. Moreover, launching new products in the market has supported the companies to offer demanded quality products and meet the changing consumer trends across the industry.
For instance
- In 2023, L’Oréal, a French company that manufactures cosmetics, has relaunched Lancôme in India. Under the Lancôme brand, the business will sell skincare, cosmetics, and fragrances in India.
- Croda International Plc (‘Croda’) announces on February 6th, 2023, that it has reached an agreement to purchase Solus Biotech (‘Solus’), a leader in high-end, biotechnology-derived beauty activities.
Key Players:
- Croda International Plc
- L’Oréal S.A.
- Kobo Products, Inc.
- Biospectrum, Inc.
- Symrise AG
- Procter & Gamble Co.
- Natura-Tec
- Nihon Kolmar Co. Ltd.
- Trilogy International Limited
- BIOPHILICA Co. Ltd.
- Givaudan SA
- Basf Se
- Active Concepts LLC
- NAGASE & CO., LTD.
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Pearl Extract Market by Category
- By Type
- Freshwater
- Saltwater
- By Application
- Cosmetics and Personal Care Products
- Pharmaceuticals
- Food and Beverages
- Others
Get More Valuable Insights
Fact.MR, in its new offering, provides an unbiased analysis of the global pearl extract market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the pearl extract market based on type (Freshwater Pearl Extracts, Saltwater Pearl Extracts), Application (Cosmetics and Personal Care Products, Pharmaceuticals, Food and Beverages, Others), across various regions.
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