The new report by Expert Market Research titled, ‘Global Skin Care Products Market Growth, Share, Price, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global skin care products market, assessing the market based on its segments like types, ingredients, genders, distribution channels, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2021-2026): 4.2%
Major factors driving the market growth are the growing awareness of one’s appearance and skin quality and the increasing purchasing power of people worldwide. The significant research and development investments in the production of new goods and the aggressive marketing strategies by existing players have also led to a large growth in sales. The omnipresent polluted atmosphere, global warming, and the active lifestyle that threatens the skin’s durability have also reinforced the rapid acceptance of items that help protect and prevent damage to the skin. Regionally, North America and Europe dominate the worldwide market for skin care products, with a majority share. However, the Asia Pacific region is expected to witness robust demand over the forecast period due to rising demand for skin care products from fast-growing economies like China and India.
Skin Care Products Industry Definition and Major Segments
Skin care products are used in order to strengthen and preserve the condition of human skin. There is a range of products available in the market, such as cleansers, toners, body lotions, oils and serums, and creams with alpha-hydroxy acids, beta-hydroxy acids, and retinol as some of their main ingredients.
By type, the market is divided into:
• Facial Care
o Facial Scrubs, Masks, and Packs
o Oils and Serum
o Special Creams
• Body Care
o Body Lotion
o Body Wash
On the basis of ingredient, the market is bifurcated into:
Based on gender, the market is segmented into:
By distribution channel, the market is divided into:
• Convenience Stores
• Speciality Stores
The regional markets for the product include:
• North America
• The Asia Pacific
• Latin America
• The Middle East and Africa
Skin Care Products Market Trends
The increased usage of online platforms to reach out to a larger client base is a recent notable development in the skin care products industry. In order to maximise sales, smart businesses and dealers are gradually moving to e-commerce. Another important trend seen in the global skin care products market is the increased proliferation of organic skin products without synthetically manufactured chemicals. Brands launch new skin care products formulated of natural or organic ingredients every now and then to attract consumer attention. These products, while costly, are gaining large sales worldwide due to growing awareness of the possible side effects of chemical-based skin care products. The prohibition of animal research limits production in the field. This has had a negative impact on manufacturing, especially small and medium-sized manufacturers. A considerable upswing in the skin care products industry has been assisted by a growing perception of organic products and the expanding income of middle-class people.
Key Market Players
The major players in the market are The Procter & Gamble Company, Unilever Plc, Kao Corporation, Revlon, Inc., The Estée Lauder Companies Inc., Beiersdorf AG, New Avon Company, and L’Oréal S.A., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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