The global skincare products market size was valued at around USD 131 billion in 2021 and is expected to surpass USD 197 billion by 2030, expanding at a CAGR of 5% during the forecast period, between 2022 and 2030.
The growth of the market is attributed to the rising demand for personalized products. The demand for creams, serums, and moisturizers infused with natural ingredients is expected to rise during the forecast period, as the number of consumers inclined toward natural beauty products increases.
Skincare products are used improve and/or retain the skin’s texture. These products are used by men and women. Skincare products are used to provide nutrition, to avoid excessive exposure to sun. These products include washes, scrubs, serums, emollients, packs and masks, and toners, which are used as a daily treatment regime.
The glass skin trend, which originated in South Korea, is an elaborate skincare process entailing a large number of skincare products and steps used to get lawless, clear, poreless, and translucent. Such trends on social media are encouraging content creators to develop, explore, and use novel products, to reduce the number of products and processes. Such trends are highlighting the presence and uses of numerous products such as serums and oils.
Several companies and users are adopting Ayurvedic oils to gain the results they desire. For instance, many are using kumkumadi tailam, saffron oil, aloe vera, and rose water to rid themselves of blemishes and scars, and improving the skin’s texture.
Skincare Products Market Trends, Drivers, Restraints, and Opportunities
- Rising number of consumers inclined toward natural beauty products is fueling the use of creams, serums, and moisturizers infused with natural ingredients, thus driving the market.
- Growing awareness regarding the harmful effects of chemicals and artificial products is boosting the demand natural products, thus boosting the market.
- Problems associated with use of skincare products such as rashes, acne, and pimples are restraining the market.
- Limited shelf life, government regulations regarding packaging and labeling of skincare products, and increasing number of counterfeit products are anticipated to hamper the market during the forecast period.
- Major trends witnessed in the global market include individuals opting for online e-commerce platforms for purchase of skincare products and use of unique and specialty ingredients by manufacturers in skincare products.
- Rising demand for vegan, paraben-free, cruelty-free merchandize due to growing awareness about the environment and animal welfare are creating opportunities in the market.
Scope of Skincare Products Market Report
The report on the global skincare products market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes
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Details
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Report Title
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Skincare Product Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Type (Facial Care {Cleansers, Moisturizers, Creams, and Lotions, Toners, Serums & Essences, Face Masks & Packs, and Other Facial Care Products}, Lip Care, and Body Care {Body Wash, Body Lotions}), Categories (Mass Skincare Products and Premium Skincare Products), Distribution Channels (Online and Offline {Supermarkets/Hypermarkets, Pharmacies/Drug Stores, Convenience Stores, and Specialist Retail Stores})
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Johnson & Johnson, Inc., L’Oréal S.A., , Shiseido Co., Ltd., Colgate-Palmolive Company, Revlon, Procter & Gamble (P&G), Unilever, Avon Products, Inc., Beiersdorf AG, Coty Inc.
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Skincare Products Market Segment Insights
Moisturizers sub-segment holds significant share of the facial care segment
In the terms of types, the skincare products market is divided into facial care, lip care, and body care. The facial care segment is sub-segmented into cleansers, moisturizers, creams, and lotions, toners, serums & essences, face masks & packs, and other facial care products. The body care segment is bifurcated into body wash and body lotions.
The moisturizers sub-segment held a large share of the facial care segment in 2020, and this trend is expected continue during the forecast period. Face creams and moisturizers are extensively used by men and women alike, thus fueling the segment. Moisturizers offer advantages such as reduced breakouts, refreshed skin, and instantly reduce dryness. Moreover, they are hassle-free and easy-to-use.
Online retail channels segment is anticipated to account for substantial share
Based on distribution channels, the markets bifurcated into online and offline. The offline segment is divided into supermarkets/hypermarkets, pharmacies/drug stores, convenience stores, and specialist retail stores. The online segment is projected to expand, as websites offer quick product delivery, offers, and discounts, along with easy online payment options.
Asia Pacific is expected to dominate the market
In terms of regions, the skincare products market is classified as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific holds a key share of the global market. China is a major producer and consumer of skincare products; therefore, the country holds a major share of the market.
Segments
The global skincare products market has been segmented on the basis of
Product Types
- Facial Care
- Cleansers
- Moisturizers
- Creams and Lotions
- Toners
- Serums & Essences
- Face Masks & Packs
- Other Facial Care Products
- Lip Care
- Body Care
Categories
- Mass Skincare Products
- Premium Skincare Products
Distribution Channels
- Online
- Offline
- Supermarkets/Hypermarkets
- Pharmacies/Drug Stores
- Convenience Stores
- Specialist Retail Stores
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Johnson & Johnson, Inc.
- L’Oréal S.A.
- Shiseido Co., Ltd.
- Colgate-Palmolive Company
- Revlon
- Procter & Gamble (P&G)
- Unilever
- Avon Products, Inc.
- Beiersdorf AG
- Coty Inc.
Competitive Landscape
Key players operating in the global skincare products market are Johnson & Johnson, Inc., L’Oréal S.A., Shiseido Co., Ltd., Colgate-Palmolive Company, Revlon, Procter & Gamble (P&G), Unilever, Avon Products, Inc., Beiersdorf AG, and Coty Inc. They engage in R&D and product launches to increase their market share.
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