Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Snail Beauty Products Market – Insights
Snails naturally secretes slimy mucus/snail extract (Helix aspersa muller glycoconjugates) to protect themselves from cuts, bacteria, and UV ray. This protective slimy mucus is enriched with beauty enhancers such as hyaluronic acid, glycolic acid, elastin, glycoprotein enzymes, anti-microbial, copper peptides, and various others. In ancient Greece, snail mucus was applied on wounded or burned skin to enhance skin healing. Currently, snail mucus is used to prepare serums, facial masks, moisturizers, and fading creams, which are mainly used to treat dry skin, wrinkles, stretch marks, acne & rosacea, age spots, burns, scars, razor bumps, and flat warts. Factors such as increasing inclination of mid age population towards grooming, shifting preference towards natural skin enhancing ingredients, and favorable growth of snail farming are major factors driving growth of global snail beauty products market.
Among product type, anti-ageing cream segment generated highest revenue in global snail beauty products market in 2016. The segment is expected to lead the market over the forecast period. Snail mucus stimulates the formation of collagen and elastin, which repairs damaged skin and restore skin hydration. Increasing demand for snail creams especially from mid-age population is the prime driver for the growth of this segment. According to United Nation survey, about 65% of world population is under age group of 15 to 64 years. Such huge population base is creating positive environment for growth of anti-ageing cream segment.
Asia Pacific held highest revenue share in the global snail beauty products market in 2016 and it is projected to maintain its dominance throughout the forecast period. In Asia Pacific, South Korea contributed highest revenue share in the regional market. Shifting consumer preferences towards natural skincare ingredients fuelled by favorable growth of cosmetic industry in the region is bolstering growth of snail extract based beauty products. According to South Korean government, South Korea is the eighth largest cosmetic market in terms of sales in the world. Moreover, increasing popularity of snail spas in Thailand, Korea, and Japan is boosting demand for snail beauty products in the region.
North America region is expected to be the fastest growing region, witnessing CAGR of 11.23% over the forecast period. In North America, the U.S. is projected to witness significant growth in the regional snail beauty products market over the forecast period. Increasing focus of leading players to tap potential market in association with local retailers in North America is expected to have positive impact on growth of regional snail beauty products market. CVC Pharmacy, a subsidiary of American Retail and Healthcare Company CVC Health began to promote K-Beauty HQ, which contain more than 100 South Korea beauty brands including snail creams & gels at 2100 stores in April 2017.
According to a study by Coherent Market Insights, the global snail beauty products market was valued at US$ 338.3 million in 2016 and is expected to reach to US$ 769.5 million, by witnessing a CAGR of 10.82%, in terms of revenue, over the forecast period (2017 – 2025).
Figure 1. Global Snail Beauty Products Market Share, by Product Type, 2016
Source: Coherent Market Insights (2018)
Anti-ageing creams segment held highest revenue share of 33.25% in the product type and the segment is projected to maintain its dominance throughout the forecast period. Cell renewal cream is projected to be the fastest growing segment in the market during the forecast period.
Major Players in the Global Snail Beauty Products Market -
The major players operating in the snail beauty products market include Mizon, COSRX, KENRA Professional, DRAN Co. Ltd., Owlcare Co. Ltd., and Laboratories Portugal S.R.L. Key players are strategically investing in the snail beauty products market to enhance their product portfolio. For instance, KENRA Professional has developed snail extract based hair care products such as anti-aging shampoo, anti-aging conditioner and cream, which are formulated without sulphates, parabens, and sodium.