The skincare products market size is expected to reach USD 207.49 billion in 2028 and register a CAGR of 4.8% over the forecast period, according to the latest report from Reports and Data. Growing demand for chemical-free and natural products is a key driver of market revenue growth. A variety of skin care products are available in the market, such as anti-aging creams, sunscreens, body lotions, and skin lightening creams, etc. People have become more aware of these creams. Consumer preferences have shifted towards natural skin care products because they provide better UV protection to the skin, have anti-aging properties which help to look younger.
Consumers are spending more on skincare from an early age. They spend a lot of time and money on products to reduce the signs of aging. Therefore, there is a growing interest in anti-aging skincare products containing vitamin C, vitamin E, collagen and others that delay skin aging. Hence, the number of manufacturers is increasing and these companies are concentrating to enter the market through various strategies such as product innovations and mergers and acquisitions.
In the skin care products industry, the growing awareness of physical appearance and excellent skin quality is a major driver of market revenue growth. Moreover, increasing investment in research and development of new products, outstanding marketing campaigns employed by existing major players are supporting the growth of market revenue.
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Key players profiled in the global market report are Procter & Gamble, Beiersdorf AG, L’Oreal SA, Unilever PLC, The Estée Lauder Companies Inc., Revlon, Inc., Kao Corporation, Shiseido Company Limited, Johnson & Johnson Services , Inc. and Colgate-Palmolive Company.
Some highlights of the report
- The face cream segment is expected to witness a very rapid revenue growth rate over the forecast period. Face creams include face moisturizers, skin lightening creams, toners, anti-aging creams and others. Skin lightening creams are used to lighten skin color by reducing the amount of melanin which is a pigment produced by skin cells that determines skin tone. These products are also used in the treatment of brown spots or sun spots. These creams consist of hydroquinone which can reduce melanocytes. Vitamin C which has antioxidant characteristics, which is also a common ingredient in skin lightening creams to reduce the production of melanin in our cells.
- The mass skin care products segment is expected to witness a rapid revenue growth rate over the forecast period. These products are used daily by consumers. People belonging to moderate income levels can purchase these types of products as these products are available at affordable prices.
- The natural or organic segment is expected to witness a very rapid revenue growth rate over the forecast period. Consumer preferences are shifting towards natural skin care products due to the presence of natural ingredients such as jojoba oil, argan oil, apple juice, lemon juice which are beneficial for the skin. The benefits of using these products include natural fragrance, no irritation, and improved skin nutrition.
- Revenue from the online retail channel segment is expected to increase at a rapid rate during the forecast period. Online retail channels offer better prices for products, and consumers can easily compare available prices for a wide variety of product categories. Some other benefits, including discounts or coupons, clear product information, easy product replacement and refund policy, availability of fast delivery options and rare products, are a factor in the growth of the revenue of the segment.
- The market in Europe is expected to account for the largest share of revenue over the forecast period owing to advancement in technology, growing launch of various innovative lotions and creams, rising disposable income and rising demand for anti creams. -age.
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For the purpose of this report, Reports and Data has segmented the global skin care products market on the basis of product type, category type, ingredient type, gender type, distribution channel type and the region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Face cream
- Lip care
- Body care
Category Type Outlook (Revenue, USD Billion; 2018-2028)
- Premium skin care products
- Mass skin care products
Ingredient Type Outlook (Revenue, USD Billion; 2018-2028)
- Natural or Organic
Gender Outlook (Revenue, USD Billion; 2018-2028)
Distribution Channel Type Outlook (Revenue, USD Billion; 2018-2028)
- Specialty Retail Stores
- Supermarkets or Hypermarkets
- convenience stores
- Pharmacies or Drug Stores
- Online Retail Channels
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- The rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of MEA
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Key Questions Answered by the Report
- Why are online retail channels most preferred by consumers?
- Which region is most important in the skin care products market?
- Why do people prefer organic skin care products over chemical skin care products?
- What is the most lucrative product type in the skin care products market?
- Who are the major key players in the Skin Care Products market?
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