Skin Care Products Market

Skin Care Products Market registered a revenue of USD 130.0 billion in 2021 and is projected to reach USD 187.7 billion in 2029, growing at a CAGR of 4.7% during the forecast period.

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Key Drivers

Increasing awareness about skin illness and treatments has augmented the demand for skincare products, driving the skincare market growth. With the rapid urbanization, the inclination towards various skincare products has significantly increased, owing to the rising per-capita income and intense promotional activities, which will augment the market growth. In addition, the intensified investment in the research and development of products to cater the growing demand for organic skin care products will expand the market growth. For example, in June 2021, Hale Cosmeceuticals, introduced two natural ingredient products – Natural AZA Cleanser and Date Palm Deep Moisturizer – for the U.S. market. Rising working population, expansion of e-commerce industry, and the growing demand for sunscreens, body lotions, and face creams are projected to expand the market share. Furthermore, the growing consciousness about the harmful impact of chemicals and synthetic products have bolstered the market share. On the other hand, restricted shelf life, side-effects associated with the use of skin care products in individuals such as rashes, acne, and pimples, and increasing number of simulated products are some of the major factors projected to restrain the market growth over the upcoming years.

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Product – Segment Analysis

Based on by product, the market is segmented into face cream, body lotion, and others. The face cream segment is expected to dominate the skin care products market primarily due to the increasing demand of skin brightening face creams among consumers. Additionally, availability of face creams for reducing wrinkles, acne scars, freckles, discoloration, and age spots on face is further accelerating the growth of the market over the forecast period.

Distribution Channel – Segment Analysis

Based on distribution channel, the market is segmented into hypermarkets, supermarkets, specialty stores, online store, drug stores, and others. The online store segment is expected to grow at a higher CAGR during the forecast period. This can be attributed to the availability of wide range of products on e-commerce websites, faster delivery of products, easier return policies, and surge in the use of mobile devices globally.

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Regional – Segment Analysis

Based on the region, Asia-Pacific region is anticipated to witness a faster CAGR during the forecast period. This is primarily due to the growing middle-class population coupled with the rising per capita income of consumers in the growing economies including China, Japan, India, and South Korea in the region. Additionally, growth in the demand of skin lightening and anti-aging creams together with the increase in wellness spending is further supporting the market growth in the region. On the other hand, North America is projected to lead the skin care products market owing to the increasing awareness among consumers towards advanced skin care products. Moreover, rapid economic development, increased standard of living, and the growing demand of organic skin care products are further augmenting the market growth in the region.

Top Market Players

Various notable players operating in the global skin care products market include L’Oréal, Unilever Group, Beiersdorf AG, Johnson and Johnson Services, Inc., Natura &Co Holding S.A, Shiseido Company, Limited, Revlon, Inc., The Estée Lauder Companies, Inc., Colgate-Palmolive Company, and Procter & Gamble Company, among other companies. 

Key Developments:

• • In 2022, LVMH’s brand KVD beauty introduced New Good Apple Lightweight Full-Coverage Concealer, which has ultra-concentrated InterLace Pigments that easily blends into the face for crease-resistant coverage and maximum vibrancy.
  • In 2021, Gillette launched Planet KIND, a new shaving and recyclable skincare brand made with 85% recycled paper, 85% recycled plastic, or infinitely recyclable aluminum.
  • In 2021, Beiersdorf introduced customized Face Care New Brand O.W.N. Only What’s Needed” – O.W.N which uses ingredients specially to fulfil the skincare needs.
  • In 2020, Yatsen Global, a China based Beauty Company acquired GALENIC, one of the leading skincare brand, of French pharmaceutical and dermo-cosmetic group Pierre Fabre Group.
  • In 2019, Unilever Group acquired one of the leading prestige skincare brand, Tatcha. With this acquisition, the company enhanced their product portfolio in skin care market.
  • In 2019, The Estée Lauder Companies Inc. acquired South Korean cosmetics company Have & Be Co. Ltd., which ownws Dr. Jart+ and men’s grooming brand Do The Right Thing.

Segments covered in the Report:

The global skin care products market has been segmented on the product, and region. On the basis of product, the market is segmented into face cream, body lotion, and others. Based on distribution channel, the market is segmented into hypermarkets, supermarkets, specialty stores, online store, drug stores, and others.

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Key questions answered in this research report:

• • At what pace is global Skin Care Products market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Skin Care Products market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Skin Care Products market?
  • Which product generated maximum revenues in 2021 and identify the most promising product during the forecast period?
  • What are the various distribution channels of global Skin Care Products market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Skin Care Products Market by Product

• • Face Cream
  • Body lotion
  • Others

Global Skin Care Products Market by Distribution Channel

• • Hypermarkets
  • Supermarkets
  • Specialty Stores
  • Online Store
  • Drug Stores
  • Others

Global Skin Care Products Market by Region

• • North America Skin Care Product Market (Option 1: As a part of the free 25% customization)
    • By Product
    • By Distribution Channel
    • US Market All-Up
    • Canada Market All-Up
  • Europe Skin Care Product Market (Option 2: As a part of the free 25% customization)
    • By Product
    • By Distribution Channel
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Skin Care Product Market (Option 3: As a part of the free 25% customization)
    • By Product
    • By Distribution Channel
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Skin Care Product Market (Option 4: As a part of the free 25% customization)
    • By Product
    • By Distribution Channel
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Skin Care Product Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • L’Oréal
  • Unilever Group
  • Beiersdorf AG
  • Johnson and Johnson Services, Inc.
  • Natura &Co Holding S.A.
  • Shiseido Company, Limited
  • Revlon, Inc.
  • The Estée Lauder Companies, Inc.
  • Colgate-Palmolive Company
  • Procter & Gamble Company