Traditional Chinese Medicine for Skincare Market to Reach USD 7.3 billion in 2030, expanding at a CAGR of 8%: TMR Report

WILMINGTON, DE / ACCESSWIRE / June 7, 2023 / Transparency Market Research Inc. - The global traditional Chinese medicine for skincare market is projected to flourish at a CAGR of 8% from 2020 to 2030. As per the report published by TMR, a valuation of US$ 7.3 billion is anticipated for the traditional Chinese medicine for the skincare market in 2030.

An increasing number of consumers opt for skincare products with natural and herbal ingredients, and traditional Chinese medicines for skincare products, which are often derived from plant extracts and traditional herbs. This is expected to drive the traditional Chinese medicine for the skincare market.

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The rapidly growing environmental pollution and concerns about premature aging, there is a growing demand for skincare products that provide protection against pollution and combat signs of aging. This is expected to propel TCM for skincare products that often contain ingredients with antioxidant and anti-inflammatory properties.

The increasing popularity of Asian beauty trends, such as the Korean skincare routine and J-beauty concepts, is also expected to boost the demand for traditional Chinese medicines for skin care.

Key Takeaways from the Market Report

• As of 2023, the traditional Chinese medicine for skincare market is forecast to reach US$ 4.3 billion
• Based on product type, the Chinese herbal medicine segment is expected to remain popular due to increased demand.
• Face care sub-segment to account for a significant market share during the forecast period.
• Based on application, the acne segment is expected to dominate the global traditional Chinese medicine for skincare market
• North America is projected to be the lucrative market for traditional Chinese medicine for the skincare market

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Traditional Chinese Medicine for Skincare Market: Prominent Drivers and Trends

• The increasing popularity of traditional Chinese ingredients is expected to drive traditional Chinese medicine for the skincare market.
• The increased awareness among the population and increased popularity of traditional Chinese medicine among the young generation to drive the market growth during the forecast period
• Increasing demand for natural ingredient-based skincare products is expected to provide an opportunity for market expansion.
• An increase in research & development activities and technological innovation and the launch of new products accelerate the growth of the market during the

Market: Regional Analysis

• The traditional Chinese medicine for skincare market in North America is expected to experience significant growth in recent years owing to the increasing interest in complementary and alternative medicine, and TCM practices, such as acupuncture and herbal remedies, have gained popularity in the region. Chinese immigrant communities in North America have also contributed to the demand for TCM products in the region.
• Asia-Pacific is one of the leading markets for traditional Chinese medicine for skincare. The market for traditional Chinese medicine for skincare will grow as many people in the region are using these skincare products. Increased awareness about the benefits of Chinese herbal medicines among the population is likely to boost the market demand in the countries like India, and Japan. Kampo medicines are widely used in Japan as traditional herbal medicines. The increasing demand from the local drug manufacturing industry propels the market growth.

Competitive Landscape

Leading players analyzed in the traditional Chinese medicine for skincare market report include

• Shen-Nong Limited (Integrated Chinese Medicine Holding Ltd)
• Jahwa, Solstice Medicine Company, Inc.
• Yuannan Baiyao
• The Mentholatum Company
• Eu Yan Sang

The key players in the traditional Chinese medicine for skincare market are focusing on the development of new innovative products to increase their customer rich and market share.

• Yunnan Baiyao Group is a major player in the TCM market, specializing in herbal medicines, medical equipment, and healthcare products. The company is known for its flagship product, Yunnan Baiyao, which is a widely used TCM remedy. Yunnan Baiyao Group has been focusing on innovation and research, aiming to integrate TCM with modern medicine. It has also expanded its product portfolio to include wellness products and dietary supplements.
• Guangzhou Pharmaceutical Holdings is a diversified healthcare company involved in pharmaceuticals, medical devices, and TCM products. It has a strong presence in the TCM market and has been actively expanding its product offerings. The company has invested in research and development facilities and has collaborated with universities and research institutions to advance TCM knowledge and innovation.

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Traditional Chinese Medicine for Skincare Market - Segmentation

Product Type

Chinese Herbal Medicine

• Bodycare
• Face Care
• Foot & Hand Care
• Acupuncture
• Diet Therapy

Application

• Eczema
• Psoriasis
• Acne
• Hyperpigmentation
• Others

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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SOURCE: Transparency Market Research Inc.

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