Growing awareness pertaining to the various benefits of skin care products and availability of wide variety of products are acting as key growth drivers for global skin care market.
According to TechSci Research report, “Global Skin Care Market By Product Type (Face Care Vs Body Care), By Origin (Conventional & Organic), By Distribution Channel (Beauty Parlours/Salons, Multi Branded Retail Stores, Online Channels, Supermarkets/Hypermarkets, Exclusive Retail Stores & Others), By Region, Forecast & Opportunities, 2025”, the market is expected to grow at a significant CAGR during the forecast period. Key factors propelling the growth of global skin care market are growing skin care concerns among people which is leading to increasing demand for face creams, sunscreens and body lotions. Moreover, prevalence of various skin problems such as dryness, itchiness, acne & pimples due to pollution and other lifestyle issues are also creating high demand for skin care products around the world. Manufactures are using latest technology and focusing on product innovation to meet the growing need of potential customers. Also, shifting consumer preference towards herbal and organic skin care products is pushing companies to replace chemical ingredients with natural ones.
Furthermore, growing e-commerce sector and rising trend of online shopping is anticipated to propel the growth of global skin care market. The availability of wide range of skin care products including foreign and luxurious brands is making consumers shop online. Apart from this, increasing aging women population is leading to demand for anti-aging products. With rise in disposable income and improving standard of living in developing nations, the global skin care market is poised to undergo rapid growth in coming years. Moreover, to increase consumer base in global market, various skin care brands are offering consumers cheaper alternatives for their usual skin care regimes.
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The global skin care market is segmented based on product type, origin, distribution channel company, and region. Based on product type, the market can be categorized into face care and body care. Among them, the face care segment is expected to undergo fastest growth through 2025 on account of growing demand for anti-ageing creams and skin brightening face creams to treat skin disorders like acne scars, freckles and age spots.
Based on distribution channel, the global skin care market can be segmented into beauty parlours/salons, multi branded retail stores, online channels, supermarkets/hypermarkets, exclusive retail stores & others. Among them, the online segment is anticipated to dominate the market during the forecast period on account of availability of heavy discount on products and thriving e-commerce industry. Moreover, leading skin care brands are introducing their own shopping websites which are gaining popularity in global market.
Major players operating in the global skin care market are L'Oréal S.A.; Unilever; Johnson and Johnson; Beiersdorf AG, Shiseido Company, Ltd.; Revlon, Inc., Avon Products, Inc., The Estée Lauder Companies, Inc., Procter & Gamble Company and Colgate-Palmolive Company. Key growth strategies being adopted by leading companies are product innovation, collaborations, partnerships and mergers & acquisitions.
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“North America dominated the global skin care market in 2019 owing to high per capita disposable income and presence of leading skin care brands having their headquarters in countries like United States and Canada. However, Asia Pacific is expected to contribute to high revenue through 2025 on account of increasing urbanization and increasing population of potential consumers. For instance, China is world’s second largest market for skin care products and is experiencing burgeoning demand from both urban and rural population ,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Skin Care Market By Product Type (Face Care Vs Body Care), By Origin (Conventional & Organic), By Distribution Channel (Beauty Parlours/Salons, Multi Branded Retail Stores, Online Channels, Supermarkets/Hypermarkets, Exclusive Retail Stores & Others), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of skin care market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global skin care market.
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