Skin Care Products Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 4.69 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Skin Care Products Market Analysis
The Skincare Products Market is expected to register a CAGR of 4.69% during the forecast period.
- Urban areas have seen an increase in customers' propensity toward various skincare products because of expanding disposable income, intense advertising activities, and the debut of innovative products by manufacturers. For instance, in September 2021, Kao Corporation launched a new Sheet Mask called Smile Performer. The sheet mask claims to add radiance and bounce to the skin, which creates a smiling impression.
- Consumers are using skincare products earlier as they become more aware of skin issues and treatments, which is helping the market grow. An increasing number of women are opting for anti-aging products like L'Oreal Revitalift, Avon Anew Sensitive+, Caudalie premier cru anti-aging cream moisturizer with hyaluronic acid, and many more, which make up a significant sector of the skincare products industry.
- With the growing demand for organic ingredients, consumers across the market are inclined toward organic skin care products, which is expected to drive market growth during the study period. Furthermore, the rising awareness about the harmful effects of chemicals and synthetic products is another factor augmenting the development of the market. Most consumers tend to buy products with natural or organic labeling, which drives market growth.
- People face significant skin rashes and sensitivity in many regions due to environmental conditions like UV rays, deserts, and pollution. This is why they prefer products with hydrating properties like vitamin C serums, hyaluronic acid creams, and face masks, which also drive the market. For instance, in June 2022, Biologi, an Australian clean cosmeceutical business, unveiled an anti-pollution serum with a wild-harvested extract containing vitamin C, niacinamide, and salicylic acid.
- The Bg defence anti-pollution serum is the newest addition to Biologi's distinctive serum line, and it features strawberry gum leaf extract as its main ingredient. The serum is designed to shield and protect skin against environmental assaults like blue light and pollution on a daily basis.
Skin Care Products Market Trends
Growing Demand for Anti-Aging and Anti-Pollution Ranges
- Anti-aging products such as anti-wrinkle creams, face creams, serums, and eye creams are in high demand. Furthermore, problems such as pollution and challenging water conditions are blasting the need for such products. A growing number of people are becoming aware of the effects of pollution on the skin. As a result, customers are more likely to spend money on skincare treatments while they are younger. They devote a large amount of time and money to anti-aging products.
- The demand for anti-aging creams for younger skin is increasing. The ingredients like vitamins C, E, collagen, and many more are used in anti-aging creams. The market players are adopting innovative strategies such as product innovations, mergers, and acquisitions to strengthen their position in the anti-aging segment in the global market.
- For instance, in September 2022, L'Oréal signed an agreement to acquire SkinBetter Science, a physician-dispensed American skincare brand. Skinbetter Science is known for formulating innovative products with active ingredients for anti-aging, moisturizing, cleansing, exfoliating, skin peeling, and sun protection.
Asia-Pacific Registers the Fastest Growth Rate
- In highly growing economies such as China, South Korea, India, and Indonesia, rising population, rapid urbanization, and increased per capita spending on personal care products all contribute to the region's skincare market's growth. Furthermore, the growing availability of affordable skincare products contributes to the growth of the skincare market. As a result, key players focus heavily on product innovation and mergers and acquisitions as their primary strategies for consolidating the market under consideration.
- For instance, in January 2022, Galderma, the world's largest dermatology company, completed the acquisition of Alastin Skincare Inc., a specialty aesthetics company dedicated to developing innovative and clinically-tested physician-dispensed skincare products.
- As the growing number of beauty salons is now omnipresent across most Indian towns and cities, with more extensive shopping malls in metropolitan centers stocking beauty and skincare products of major mainstream personal care brands, India provides a massive market. The demand for organic skin care products is also growing in Asia because of skin-related problems due to chemicals and environmental issues.
Skin Care Products Industry Overview
The skincare products market is highly competitive, with the top global and regional players competing fiercely to garner market share. Some major key players in the skincare products market include Procter & Gamble Company, Beiersdorf AG, The Estee Lauder Companies Inc., Unilever, and L'Oreal. The key players are embarking on mergers and acquisitions as a strategy to strengthen their market dominance. The major players are constantly trying to expand their production facilities and increase their market presence locally via this strategy. Similarly, companies are innovating their products and advertising advanced and niche categories, which can eliminate recurring problems consumers face due to pollution, aging, and lack of time for care.
Skin Care Products Market Leaders
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L'Oréal S.A.
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Unilever PLC
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Procter & Gamble Company
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maxingvest AG (Beiersdorf AG)
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The Estée Lauder Companies Inc.
*Disclaimer: Major Players sorted in no particular order
Skin Care Products Market News
- January 2022: L'Oreal and Verily announced a strategic partnership exclusive to beauty to advance skin health. The groundbreaking collaboration between the beauty industry and L'Oréal will comprise two initiatives aimed at better defining and understanding skin and hair aging mechanisms and guiding the company's precision beauty tech strategy and product development.
- January 2022: Procter & Gamble acquired the luxury skincare brand Tula. Tula is a clean skincare brand powered by probiotic extracts and superfoods. Tula's products are designed to help improve skin balance, soothe skin, calm skin irritation, and nourish skin to improve hydration. As part of the acquisition agreement, P&G Beauty will support the Tula team to drive brand growth and support expansion and innovation.
- December 2021: L'Oréal S.A. signed an agreement to acquire a skincare company named 'Youth to the People,' a California-based skincare company. Youth to the People develops and sells high-performance skincare products comprising premium vegan blends of superfood extracts and science.
Skin Care Products Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Facial Care
5.1.1.1 Cleansers
5.1.1.2 Moisturizers, Creams, and Lotions
5.1.1.3 Serums and Essence
5.1.1.4 Toners
5.1.1.5 Face Masks and Packs
5.1.1.6 Other Facial Care Products
5.1.2 Lip Care
5.1.3 Body Care
5.1.3.1 Body Wash
5.1.3.2 Body Lotions
5.2 Category
5.2.1 Premium Skincare Products
5.2.2 Mass Skincare Products
5.3 Distribution Channel
5.3.1 Specialist Retail Stores
5.3.2 Supermarkets/Hypermarkets
5.3.3 Convenience Stores
5.3.4 Pharmacies/Drug Stores
5.3.5 Online Retail Channels
5.3.6 Other Distribution Channels
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.1.4 Rest of North America
5.4.2 Europe
5.4.2.1 United Kingdom
5.4.2.2 Germany
5.4.2.3 Spain
5.4.2.4 France
5.4.2.5 Italy
5.4.2.6 Russia
5.4.2.7 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle East & Africa
5.4.5.1 South Africa
5.4.5.2 Saudi Arabia
5.4.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 L'Oréal S.A.
6.3.2 Unilever PLC
6.3.3 The Estée Lauder Companies Inc.
6.3.4 Procter & Gamble Company
6.3.5 maxingvest AG (Beiersdorf AG)
6.3.6 Amorepacific Corporation
6.3.7 Shiseido Company, Limited
6.3.8 Johnson & Johnson Services Inc.
6.3.9 Kao Corporation
6.3.10 Colgate-Palmolive Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Skin Care Products Industry Segmentation
Skincare products are a range of products that support skin integrity, enhance appearance, and relieve skin conditions. These are applied to the skin to avoid symptoms of early aging, pimples, and black patches.
The skincare products market is segmented by product type, category, distribution channel, and geography. Based on product type, the market is segmented into facial care: cleansers, moisturizers, creams and lotions, serums and essence, toners, face masks and packs, and other facial care products; lip care; body care: body wash and body lotions. Based on category, the market is segmented into premium skincare products and mass skincare products. Based on the distribution channel, the market is segmented into specialist retail stores, supermarkets/hypermarkets, convenience stores, pharmacies/drug stores, online retail stores, and other distribution channels. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
For each segment, the market sizing and forecasts have been done based on value (in USD billion).
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| Lip Care | ||||||||
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| Premium Skincare Products | |
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| Specialist Retail Stores | |
| Supermarkets/Hypermarkets | |
| Convenience Stores | |
| Pharmacies/Drug Stores | |
| Online Retail Channels | |
| Other Distribution Channels |
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Skin Care Products Market Research FAQs
What is the current Skincare Products Market size?
The Skincare Products Market is projected to register a CAGR of 4.69% during the forecast period (2024-2029)
Who are the key players in Skincare Products Market?
L'Oréal S.A., Unilever PLC, Procter & Gamble Company, maxingvest AG (Beiersdorf AG) and The Estée Lauder Companies Inc. are the major companies operating in the Skincare Products Market.
Which is the fastest growing region in Skincare Products Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Skincare Products Market?
In 2024, the Asia Pacific accounts for the largest market share in Skincare Products Market.
What years does this Skincare Products Market cover?
The report covers the Skincare Products Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Skincare Products Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Which emerging markets offer the biggest potential for Skincare Product sales?
Southeast Asia offer the biggest potential for Skincare Products, with rising disposable incomes & beauty trends.
Skin Care Products Industry Report
The global skincare market is projected to experience significant growth, fueled by increasing personal care awareness across all age groups and a rising demand for sustainable products. Daily use of self-care products like creams, lotions, and powders for moisturizing, hydrating, and cleansing is becoming more prevalent. The trend for organic and herbal skincare is escalating due to awareness of the harmful effects of synthetic chemicals on the skin. Technological advancements, such as AI and IoT-based devices offering personalized skin nourishment solutions, are gaining traction in the skincare industry. However, the excessive use and misuse of cosmetic products can cause cell damage and obstruct growth. The skincare products market is segmented into creams, lotions, powders, and sprays, with creams leading due to their wide applicability. The market is also segmented by gender, with increased product awareness among women propelling this segment. Distribution channels include cosmetic stores, supermarkets/hypermarkets, and online channels. According to Mordor Intelligence™ Industry Reports, the Skin Care Products market share, size, and revenue growth rate statistics are available, including a market forecast outlook and a historical overview. A sample of this industry analysis is available as a free report PDF download.
