The global skin care products market size is expected to be worth around US$ 190.24 billion by 2030, according to a new report by Vision Research Reports.
The global skin care products market size was valued at US$ 131.23 billion in 2020 and is anticipated to grow at a CAGR of 5.8% during forecast period 2021 to 2030.
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Skin Care Products Market (By Gender: Male, Female; By Product: Face Creams & Moisturizers, Cleansers & Face Wash, Sunscreen, Body Creams & Moisturizers, Shaving Lotions & Creams; By Distribution Channel: Supermarkets & Hypermarkets, Convenience Stores, Pharmacy & Drugstore, Online) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
|Market Size||US$ 190.24 Billion by 2030|
|Growth Rate||CAGR of 5.8% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Gender, product, distribution channel|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||L’Oreal S.A.; Beiersdorf AG; Shiseido Co., Ltd.; Procter & Gamble (P&G); Unilever; Johnson & Johnson Services, Inc.; Avon Products, Inc.; Coty Inc.; Colgate-Palmolive Company; Revlon|
Rising concerns regarding skin problems are driving the industry for skin care products. The growing demand for concern-specific skin care products such as face creams, body lotions, shaving lotions and creams, and face sunscreens is likely to fuel the overall demand.
Rising awareness regarding the various benefits of using skin care products has resulted in a rise in their demand over the last few years. Moreover, an inclination toward natural and organic skin care products is observed, making it a major sector in the cosmetics and wellness industry. Organic products are derived from natural resources and are free from harmful chemicals.
By Gender Analysis
The female segment held the largest revenue share of over 65.0% in 2020 and is expected to maintain its lead over the forecast period. Women are increasingly adding personal grooming products to their daily routines to enhance their confidence and appearance, which is significantly contributing to the segment growth.
The male segment is projected to register the fastest CAGR of 6.1% from 2021 to 2030. The growing awareness among males regarding personal hygiene and regular grooming, increased product launches, celebrity endorsements, and rising disposable income are the major factors driving the segment.
By Product Analysis
Face creams and moisturizers held the largest revenue share of over 45.0% in 2020 and are expected to maintain their lead over the forecast period. Face creams and moisturizers are among the most used items as these are frequently applied.
The others segment is projected to register the fastest CAGR of 6.7% from 2021 to 2030. The other segment includes various types of skin care products such as face masks and serums.
The cleansers and face wash segment is expected to register a significant CAGR from 2021 to 2030. Cleansers have been gaining increasing popularity across the globe, especially in Asia Pacific and the Middle East & Africa, due to the presence of a huge amount of dirt particles and pollutants in these regions.
By Distribution Channel Analysis
The supermarkets and hypermarkets segment held the largest share of over 47.0% in 2020 and is expected to witness the fastest growth over the forecast period.
The convenience stores segment is projected to register a CAGR of 6.5% from 2021 to 2030. Some customers choose to buy skin care products from these stores because of the ease of purchase, their extensive network, and the ability to purchase the same products on a regular basis.
The pharmacy and drug store segment is projected to witness significant growth from 2021 to 2030. A majority of the consumers rely on pharmacists and drugstore attendants to help them navigate through the multitude of products available and at times, to enquire about the application of such products.
By Regional Analysis
Asia Pacific held the largest share of over 36.0% in 2020 and is expected to witness the fastest growth over the forecast period. The expansion of the chemical industry in India and China, both of which are backed by regulatory support, is expected to ensure continuous raw material access to skin care product manufacturers
North America is expected to register a CAGR of 4.5% from 2021 to 2030. Consumers in North American countries such as the U.S. and Canada are willing to pay a high price for a more youthful appearance, along with brighter and glowing skin
- L’Oreal S.A.
- Beiersdorf AG
- Shiseido Co., Ltd.
- Procter & Gamble (P&G)
- Johnson & Johnson, Inc.
- Avon Products, Inc.
- Coty Inc.
- Colgate-Palmolive Company
- By Gender
- By Product
- Face Creams & Moisturizers
- Cleansers & Face Wash
- Body Creams & Moisturizers
- Shaving Lotions & Creams
- By Distribution Channel
- Supermarkets & Hypermarkets
- Convenience Stores
- Pharmacy & Drugstore
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- Saudi Arabia
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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