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Global Skin Care Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Product (Face Products, Body Products), By Distribution Channel (Online, Offline), And By Geography - Forecasts From 2020 To 2025

Published: May 2021 | Report Code:  KSI061613481 | Pages:  135

The global skin care market was valued at US$201.656 billion in 2019. The global skincare product market is driven by the increasing demand for sun creams, body lotions, face moisturizers, and other skincare products. The demand is increasing due to the rise in disposable income, urbanization in developing countries, changing lifestyles, and advanced skincare products. Skincare products are used for both beauty enhancement and as medicine for skin-related problems.

The market is to majorly grow due to growing consciousness among consumers about looks and skin quality. People are more sensitive towards using any kind of skincare product, making them choose more accurately what is most suitable for them. The rise in global warming and climate change have increased the use of skincare products due to increasing harsh sunlight and dusty & dry weather which causes the skin to turn dark, dry, and crack. The increasing pollution levels in cities due to the rising number of industries is also causing harmful effects on the skin, encouraging people to use more skincare products for protection. Thus, the rising awareness regarding the harmful effects of harsh weather conditions coupled with the growing knowledge about different chemicals and compounds to treat certain skin-related problems is significantly fueling the market growth of skincare globally. The rising urbanization in developing countries like India and China is leading to a surge in people’s purchasing power, giving them the liberty to buy what they desired. The government in many countries has banned the use of animals for testing and the use of animal ingredients in personal and skincare products. This has negatively affected small and medium scale enterprises, thereby hindering the global skin care market growth to some extent.

The global skin care market is segmented by product, distribution channel, and geography. The market segmentation based on products is done as face products and body products. The global skincare market is further segmented by distribution channels as offline and online.

Harsh Weather and Pollution is increasing the demand for Skin Care products

The market for skin care products is rising due to adverse effects of weather on the skin like dryness, dark due to strong sunlight, cracks because of roughness, and other skin diseases. The market for skincare products is also rising growing due to the increasing need and importance of grooming and personal hygiene among both men and women. The face product market has a significant share in the global skin care market. The demand is rising due to the growing use of anti-aging, sunblock, anti-tanning creams, and moisturizers. The growing use of skin brightening creams, the creams that reduce acne scars, pimples, age spots, freckles, etc. are growing the demand for skincare products. The increase in focus and investment of skincare companies in research and development for making advanced skincare products and better performance products like eco-friendly products that do not cause harm to the environment to further grow the market. The shift in consumer preferences to natural and organic skincare products is creating new opportunities for companies to expand their market share, thus positively impacting the market growth during the forecast period. 

Internet and smartphone penetration has increased the online skincare product sales

The growing use of the internet and smartphones is increasing the skincare product market. The increasing penetration of the internet has given rise to a new platform for companies to sell their products. According to the World Bank Data, the number of people using the internet has grown two folds in a decade from 22.96% in 2008 to 49.72% in 2017. The increase in the internet user population will further grow the market for skincare products as more companies will sell their products online due to the increase in convenience and low investment. This has also helped companies to provide a variety of products to consumer groups of a particular region or country. The skin care market does have a significant share in the offline segment as well. A lot of people still prefer to buy from physical stores due to more trust. There are still many people who don’t have internet access or don’t buy online because they don’t trust such platforms. As such, the physical market won’t get eliminated with the growth of the online sector.

By geography, North America has a significant share in the market

Regionally, the global skin care market is classified into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. North America is expected to have a significant market share in the skin care market due to early adoption of new products, better technology, rising investment in research and development for expanding the product line, and increasing advertisement and marketing through social media platforms for increasing the sales going to be a driving factor in the North America region. The growing demand for premium perfumes in the region to further expand the deodorants and fragrances market. The Asia Pacific region is expected to be the fastest-growing regional skincare market during the forecast period. The changing lifestyle, increase in disposable income, rising demand for quality skincare products, and premium products are majorly by young people to grow the market in the Asia Pacific region. The rising cosmetics and personal care companies in the Asia Pacific region to further grow the market. The increasing demand for natural and organic cosmetics due to the increasing awareness among people about the use of harmful chemicals in cosmetics and their side effects on skin has made people opt for natural and organic skincare products.

Market Players and Competitive Intelligence

Prominent key market players in the global skincare market include L'Oréal S.A., Estée Lauder Companies Inc., Avon Products, Inc., Coty Inc., Revlon Consumer Products Corporation, Shiseido Company Limited,  Unilever N.V., Procter & Gamble Company, Beiersdorf AG,  and Johnson and Johnson among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the global skincare market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.

Global Skin Care Market Scope:
Report Metric Details
 Market size value in 2019  US$201.656 billion
 Growth Rate  CAGR during the forecast period
 Base year  2019
 Forecast period  2020–2025
 Forecast Unit (Value)  USD Billion
 Segments covered  Product, Distribution Channel, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  L'Oréal S.A., Estée Lauder Companies Inc., Avon Products, Inc., Coty Inc., Revlon   Consumer Products Corporation, Shiseido Company Limited, Unilever N.V., Procter &   Gamble Company, Beiersdorf AG, Johnson and Johnson
 Customization scope  Free report customization with purchase

 

Segmentation

  • By  Product
    • Face Products
      • Sun Protection
      • Face Moisturizers
      • Face Brightening
      • Others
    • Body Products
  • By  Distribution Channel
    • Offline
    • Online
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Israel
      • UAE
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Others

Frequently Asked Questions (FAQs)

Q1. What is the size of skin care market?
A1. The Global Skin Care market was valued at US$201.656 billion in 2019.
 
Q2. Who are the major players in the skin care market report?
A2. Prominent key market players in the global skincare market include L'Oréal S.A., Estée Lauder Companies Inc., Avon Products, Inc., Coty Inc., Revlon Consumer Products Corporation, Shiseido Company Limited,  Unilever N.V., Procter & Gamble Company, Beiersdorf AG,  and Johnson and Johnson among others. 
 
Q3. How is the global skin care market segmented?
A3. The skin care market is segmented by product, distribution channel, and geography.
 
Q4. What factors are anticipated to drive the skin care market growth?
A4. Rising awareness regarding the harmful effects of harsh weather conditions coupled with growing knowledge about different chemicals and compounds to treat certain skin-related problems is significantly fueling the market growth of skin care globally.
 
Q5. Which region holds the largest market share in the skin care market?
A5. North America is expected to have a significant market share in the skin care market.

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