Skin Care Products Market
Skin Care Products Market Size, Share & Trends Analysis Report by Gender (Male, Female), by Product (Face Creams & Moisturizers, Cleansers & Face Wash, Sunscreen, Body Creams & Moisturizers), by Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Pharmacy & Drugstore, Online), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)
|Forecast Years for Skin Care Products Market:||2022 - 2028|
|Historical Years for Skin Care Products Market:||2016 - 2021|
|Revenue 2021 for Skin Care Products Market:||USD 129.4 Billion|
|Revenue 2028 for Skin Care Products:||USD 165.3 Billion|
|Revenue CAGR (2022 - 2028) for Skin Care Products Market :||4.2%|
|Fastest Growing Region (2022 - 2028) for Skin Care Products Market:||Asia Pacific|
|Largest Region (2021) for Skin Care Products Market:||Asia Pacific|
Global Skin Care Products Market
Skin Care Products Market- By Gender, Product, Distribution Channel and Region.
The Global Skin Care Products Market is valued at USD 129.4 Billion in the year 2021 and is forecasted to reach a value of USD 165.3 Billion by the year 2028. The Global Market is anticipated to grow exhibiting a Compound Annual Growth Rate (CAGR) of 4.2% over the forecast period.
Skincare products are a group of items that help to maintain skin integrity, improve appearance, and alleviate skin issues. These are applied to the skin to prevent early aging symptoms such as acne and dark spots. Due to environmental causes such as ultraviolet (UV) radiation and pollution, the skin is one of the organs that suffer the greatest damage. As a result, the general public has become more interested in maintaining a regular skin care regimen, making it an important aspect of personal well-being. As a result, a wide range of products including diverse chemical and herbal ingredients have been developed with the goal of improving and maintaining healthy skin overall.
Face creams and moisturizers are becoming increasingly popular around the world, as people become more sensitive to their physical appearance and concerned about skin problems and cancers. Furthermore, as more consumers choose cruelty-free products because of their growing concern for animal welfare and the environment, the demand for vegan or plant-based ingredient blends in these items has grown.
The strong expansion of the Global Skin Care Products Market is mostly due to rising skincare awareness around the world. The worldwide Skin Care Products Market is rising as people become more aware of skin-friendly beauty products and the benefits of skin nourishment. Consumers all around the world are gravitating toward organic Skin Care Products as demand for organic components rises, which is projected to fuel market expansion throughout the forecast period. Furthermore, increased public awareness of the adverse consequences of chemicals and synthetic items is another driver driving market expansion. The majority of people prefer to purchase products that are labeled as natural or organic, which fuels the market growth.
The Skin Care Products Market is segmented on the basis of Gender, Product, and Distribution Channel. On the basis of Gender, the market is segmented into Male and Female. On the basis of Product, the market is segmented into Face Creams & Moisturizers, Cleansers & Face Wash, Sunscreen, Body Creams & Moisturizers, Shaving Lotions & Creams, and Others. On the basis of Distribution Channel, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Pharmacy & drugstore, Online, and Others.
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Based on Gender:
On the basis of Gender, the market is segmented into Male and Female. The female segment had the biggest revenue share of over 60.0 percent in 2021, and this is expected to continue throughout the forecast period. Women are increasingly adding personal grooming products into their daily routines to increase their confidence and appearance, which is fueling segment growth. In addition, the importance of self-care has motivated women to create tranquil self-care experiences at home in recent years through elaborate beautification routines. This trend is driving demand for Skin Care Products with active ingredients that have healing and nourishing properties, such as creams and lotions, repair creams, peels, masks, serums, powders, and scrubs. From 2022 to 2028, the male segment is expected to grow at the fastest rate. The rise of the men's skincare market is fueled by a growing awareness among males about personal cleanliness and regular grooming, greater product launches, celebrity endorsements, and rising disposable income.
Based on Product:
On the basis of Product, the market is segmented into Face Creams & Moisturizers, Cleansers & Face Wash, Sunscreen, Body Creams & Moisturizers, Shaving Lotions & Creams, and Others. Face creams and moisturizers had the biggest revenue share in 2021, and this trend is expected to continue for the rest of the forecast period. Moisturizers and face creams are often used items. Moisturizers are a simple, hassle-free, and quick way to treat dry skin, with added benefits including faster hydration, fewer breakouts, and refreshed skin. Additionally, as more individuals opt for cruelty-free skincare as a result of their rising concern for animal welfare and the environment, the demand for vegan or plant-based ingredient blends in skincare products has increased. This bodes well for the face creams and moisturizers industry's future growth prospects. From 2022 to 2028, the shaving lotions and creams market is expected to grow at the fastest rate. The increase is due to an increased number of people being involved in corporate culture and placing a premium on personal grooming. Increased spending is expected to move the market forward.
Asia Pacific is projected to acquire the largest market share during the year 2021
Asia Pacific is projected to acquire the largest market share during the year 2021 with a share of 38.50%. In highly growing economies such as China, South Korea, India, and Indonesia, rising population and rapid urbanization, as well as increased per capita spending on personal care goods, are all contributing to the region's skincare industry growth. Furthermore, the growing availability of affordable skincare products contributes to the growth of the skincare market. Furthermore, facial care product consumption is most common in China's tier 1 megacities, with increasing penetration in tier 2 and tier 3 cities, which have seen an increase in China's growing middle class and overall skin and personal care product consumption. As a result, key competitors are focusing heavily on product innovation and mergers & acquisitions as their primary strategies for consolidating the market under consideration.
Key players operating in the Global Skin Care Products Market include- L’Oréal 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 and others.
Segmentation of the Global Skin Care Products Market:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
Frequently Asked Questions
the global demand for Skin Care Products
in terms of revenue?
The global Skin Care Products valued at USD 129.4 Billion in 2020 and is expected to reach USD 165.3 Billion in 2028 growing at a CAGR of 4.2%
are the prominent players
in the market?
The prominent players in the market are L’Oréal 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.
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 4.2% between 2021 and 2028.
the driving factors
fueling the growth of the market.
The driving factors of the Skin Care Products include
- Changing lifestyle patterns in emerging countries due to rapid urbanization
region accounted for the
largest share in the market?
Asia Pacific was the leading regional segment of the Skin Care Products in 2020.