The demand for skin care products on online marketplaces witnessed significant growth during the lockdown period, indicating the expanding market for natural skin care products. Among the natural skin care products, face creams and moisturizers secured the largest revenue share. Given their popularity and effectiveness, face creams and moisturizers are expected to maintain their dominant position throughout the entire forecast period, driving further growth in the market. Additionally, there is a rising preference for natural and organic skincare products, driven by the increasing awareness of sustainable and eco-friendly options among consumers.
According to Data Bridge Market Research, the Global Skin Care Products Market is expected to reach the value of USD 251.09 million by 2030, which was USD 171.25 million in 2022, registering a CAGR of 4.90% during the forecast period of 2023 to 2030.
" Increasing awareness about skin care surge market demand"
As more women incorporate grooming products into their daily routines to improve their self-esteem and appearance, the segment is expanding significantly. Women have been actively creating relaxing self-care experiences through at-home skincare routines in recent years due to the importance of self-care. This trend is fueling the demand for skincare products with active ingredients that have nourishing and healing properties. As a consequence of rising disposable income, celebrity endorsements, and an increase in product launches among men who are becoming more conscientious of their regular grooming and personal hygiene, the market for men's skincare is growing. Beyond those used for traditional grooming, men are becoming more interested in skincare products.
What restraints the growth of the global skin care products market?
" Side effects due to the use of multiple products can impede the market growth”
The abundance of skin care products has led to brand confusion among consumers, causing frequent brand switching based on specific products. However, using multiple products can be detrimental, leading to skin issues such as rashes, acne, and pimples. Overusing skin care and grooming kits may also impede cell growth, resulting in dry and lackluster skin. It is essential for consumers to choose products wisely, follow a balanced skincare routine, and consult professionals to maintain healthy and radiant skin without adverse effects.
Segmentation: Global Skin Care Products Market
The global skin care products market is segmented on the basis of type, product, packaging types, category, price range, ingredient, distribution channel, and end user.
- On the basis of type, the global skin care products market is segmented into facial care, lip care and body care
- On the basis of product, the global skin care products market is segmented into moisturizers, cleansing lotions, facial mask, shaving creams, serums, exfoliators, anti-ageing creams, toners, eye cream, sun care products.
- On the basis of packaging type, the global skin care products market is segmented into tube, bottle, jars, and others.
- On the basis of category, the global skin care products market is segmented into mass body care and premium body care.
- On the basis of price range, the global skin care products market is segmented into economy, mid-range and premium.
- On the basis of ingredient, the global skin care products market is segmented into Chemical, and natural
- On the basis of distribution channel, the global skin care products market is segmented intospecialist retail stores, supermarkets/hypermarkets, convenience stores, pharmacies/drug stores, online retail channels, other distribution channels.
- On the basis of end user, the global skin care products market is segmented into male, female, unisex.
Regional Insights: North America dominates the Global Skin Care Products Market
North America has been accounted as largest share in global in skin care products market due to both male and female consumers are showing an increase in their desire for anti-aging products. With this, customer behavior was also examined, and it was discovered that a single customer prefers roughly six to seven products from the collection of trendy skin care items.
The Asia-Pacific region is projected to experience a CAGR in the forecast period of 2023 to 2030. This growth can be attributed to the increasing middle-class population and the rising per capita income of consumers in emerging economies such as China, Japan, India, and South Korea. As the disposable income of consumers increases, the demand for various products and services, including skin care products, is expected to surge, driving the growth of the market in the Asia-Pacific region.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-skin-care-products-market
Recent Developments in Global Skin Care Products Market
- In 2022, New Good Apple Lightweight Full-Coverage Concealer, from KVD Beauty, a division of LVMH, features ultra-concentrated Interlace Pigments that blend seamlessly into the skin for crease-resistant coverage and maximum vibrancy.
- In 2021, Planet KIND, a new shaving and eco-friendly skincare line from Gillette, is created from 85% recycled paper, 85% recycled plastic, or infinitely recyclable aluminum.
- In 2021, O.W.N., a customized face care line from Beiersdorf, was launched. O.W.N. stands for Only What's Needed and uses ingredients created specifically to meet skincare needs.
- In 2020, One of the top skincare brands, GALENIC, was purchased by Yatsen Global, a China-based beauty company, from the French pharmaceutical and dermo-cosmetic company Pierre Fabre Group.
- In 2019, The Unilever Group purchased Tatcha, a top-tier luxury skincare brand. The company expanded its product line in the skin care market with this acquisition.
- In 2019, The South Korean cosmetics company Have & Be Co. Ltd., which was the owner of Dr. Jart and the men's grooming brand do the Right Thing, was purchased by The Estée Lauder Companies Inc.
The Prominent Key Players Operating in the Global Skin Care Products Market Include:
- L’Oreal S.A. (France)
- Unilever (U.K.)
- Beiersdorf (Germany)
- The Estee Lauder Company Inc. (U.S.)
- Johnson & Johnson Private Limited (U.S.)
- Avon Products (U.K.)
- Shiseido Company Ltd. (Japan)
- Procter & Gamble (U.S.)
- Revlon Incorporation (U.S.)
- Clarins (France)
- MAKE-UP ART COSMETICS. (U.S.)
- Colgate-Palmolive Company (U.S.)
- Clinique Laboratories, llc. (U.S.)
- Estee Lauder Inc (U.S.)
- Amway (U.S.)
- Oriflame Cosmetics AG (Switzerland)
- LVMH (France)
- Coty Inc. (U.S.)
- VLCC Wellnes (Switzerland)
Above are the key players covered in the report, to know about more and exhaustive list of global skin care products market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Skin Care Products Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
