Transparency Market Research delivers key insights into the global skin care products market. In terms of revenue, the global skin care products market is estimated to expand at a CAGR of 5.6% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global skin care products market.
The global market for skin care products is largely affected by numerous factors, including the increasing importance of skincare and frequent new product launches by key brands. Key manufacturers of skincare are focused on strong research & development to design innovative products with improved features.
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Urbanization and Rising Disposable Income Driving Skin Care Products Market
Improvement in living standards due to rapid urbanization and an increase in the number of the working population made people more aware of personal care products. Owing to rising disposable incomes and the spending capacity of consumers, many people are more likely to use skincare and body care products. Skin care products such as face wash, cleansers, moisturizers, lotions, masks, serum, sunscreen, gel, and body care products are popular in consumers. Manufacturers operating in the global skin care products market are increasing their product development capacity due to rising demand from consumers. The lucrative presence of small and medium-scale manufacturers to develop innovative products is driving the growth of the market.
Skin Care Products Market: Key Segments
The global skin care products market has been segmented based on product, product category, skin type, pricing, end-user, distribution channel, and region. Based on product, the market has been divided into facial care, body care, bath & shower, and fragrance. Scrubs & exfoliators, masks & peels, and moisturizers & creams are largely preferred product categories for skin care. However, middle-class and higher income consumers are preferring lotions, face wash, and face creams as essential products to protect and nurture their skin. Rising consumer confidence in natural and organic products is anticipated to drive the demand for organic skincare products in the near future.
Based on the distribution channel, the global skin care products have been classified into online and offline. Many consumers preferred offline channels to buy their products. However, high-income groups and millennials are leading the way in shifting spend across online channels. eCommerce websites are increasingly being preferred by key brands for cross-border distribution of skincare products. Key brands such as Colgate-Palmolive, Johnson & Johnson, Procter & Gamble Company, etc. are already operating in the worldwide market through online channels. Rising urbanization and increasing awareness about different skin care products are boosting the market.
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Skin Care Products Market: Prominent Regions
In terms of region, the global skin care products market has been split into North America (U.S., Canada, and Rest of North America), Europe (U.K., Germany, France, and Rest of Europe), Asia Pacific (India, China, Japan, and Rest of Asia Pacific), Middle East& Africa (GCC, South Africa, Rest of Middle East & Africa), and South America (Brazil and Rest of South America). The demand for skincare products in Asia Pacific is anticipated to expand at a significant CAGR, during the forecast period owing to rising disposable income, urbanization, penetration of international brands, and expansion of hypermarkets specializing in the retailing of skin care products. In terms of revenue, the skin care products market in Asia Pacific is expected to expand at a CAGR of 5.9% during the forecast period.
In terms of gender, the women segment holds a major share of the demand for skin care products, while men are also preferring skin care products, which is expected to propel both women and men segments of the market during the forecast period.
Skin Care Products Market: Key Players
Key players operating in the global skin care products market are Avon Co., Johnson & Johnson, Beiersdorfs Inc., Colgate-Palmolive, Coty Inc., Estée Lauder Companies Inc, Kao Corporation, Procter & Gamble Company, Shiseido Co. Ltd., and Unilever PLC.
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Global Skin Care Products Market: Segmentation
Skin Care Products Market, by Product
Skin Care Products Market, by Product Category
Skin Care Products Market, by Skin Type
Skin Care Products Market, by Pricing
Skin Care Products Market, by Age
Skin Care Products Market, by End-user
Skin Care Products Market, by Distribution Channel
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About Transparency Market Research
Transparency Market Research is a global market research company providing business custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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