Skin Care Market: Recent Industry Trends and Projected Industry Growth, 2028
A recent market intelligence report that is published by Data Insights Partner on the global Skin Care Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Skin Care Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Skin Care Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Skin Care Market is offered. In accordance with the report, the global Skin Care Market is projected to expand by healthy CAGR of 5.7% over the period of forecast.
Market Insight, Drivers, Restraints, Opportunity & Trends of the Market:
Definition
Skin Care, by definition, is various types of practices on skin to take care of it. These practices include usage of different cosmetics like toners, cleansers, masks, moisturizers, body lotions, sunscreens etc. The main goal of skin care is to tune and brighten up the complexion of the skin, make it more beautiful and radiant, prevent wrinkles and aging of skin and protect it from dust, sun rays and other harmful chemicals and pollutants.
Market Drivers
The rising concerns over better and perfect physical and facial appearances and growing awareness regarding different skin diseases due to improper maintenance of skin are pushing the growth rate of the Skin Care Market upward. The increase in dust and air pollutions is causing severe damage to the skin. Also increasing work pressure, irregular sleeping hours and staying up late at nights, improper hydration and consumption of oily and junk foods, working in front of the computers and smart phones for hours, exposure to harmful UV rays for hours are causing harm to the skin and making the skin dry, wrinkly and age way too early. As a result, taking care of skin has become a necessity now-a-days which in turn is the main driver of the growth of the said market.
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Beside this, the growing population and work population and rising per capita income are also some of key players behind the rapid growth of the Skin Care Market.
Aside from these, the rising foreign investment in this sector and the growth in import sector of the Skin Care are also adding fuel to this increasing market growth.
The regular introduction of different and brand-new types of skin care products to satisfy the varying tastes of the customers is also attracting new consumers and thus helping the growth rate of Skin Care to rise high. The convenience and efficiency of Skin Care products is also helping in the expansion of the said market.
Market Restraints
The Skin Care Market has a huge potential. Though it is expanding very fast day by day, many things are preventing it from using its full potential. Some of these restraints are–
? High prices of the raw materials.
? High import cost and tariffs.
? High cost of R&D activities.
? High cost of the premium quality end products.
? Availability of substitutes at lower costs.
? Unavailability of these products in many regions.
? Harmfulness of the over usage of Skin Care products on skin.
? Lack of awareness about the availability and benefits of the Skin Care products in the rural areas of the developing countries.
Opportunities
The Skin Care Market growth is mainly based on the consumption of these products for personal use. The products must satisfy the preferences and skin types of the consumers and it must be budget-friendly. The products with multiple features such as moisturizers with anti-aging, brightening and toning and SPF properties, facial masks or cleanser with brightening, toning, moisturizing and anti-aging properties are very famous due its all-in-one properties and low costs compared to the cost of buying all products separately.
Trends
During the forecast period, Asia Pacific followed by North America and Europe are expected to have the largest share of Skin Care Market. The demand for Skin Care Products in Asia Pacific region is driven by its growing population and work force and rising disposable income among individuals. The growing work pressure and increase in work hours and rising concerns over proper physical appearances specially in South Korea, Japan, China and India are also driving the growth. It is also believed that on the basis of product type, the facial cleanser and moisturizer segments will have the largest share for its low prices and high demand and efficiency and convenience. The Organic Skin Care Market is also expected to rise significantly in the said time for its rising demand among young generation due to the rising awareness over skin diseases caused by harmful chemicals.
Segment Covered:
This market intelligence report on the global Skin Care Market encompasses market segments based on product type, material type, application, skin type, end use, end usage, distributional channel and country.
By Product Type the global Skin Care Market has been divided into:
q Face Care Products
o Facial Cream
o Moisturizers
o Eyer Creams
o Anti-aging Creams
o Others
o Toners
o Alcohol-based Facial Toners
o Water-based Facial Toners
o Glycerin-based Facial Toners
o Others
o Facial Masks
o Clay Masks
o Cream Masks
o Gel Masks
o Sheet Masks
o Others
o Cleansing Lotions
o Foam Cleansers
o Oil Cleansers
o Cream Cleanser
o Gel Cleansers
o Micellar Cleansers
o Others
o Shaving Creams
o Exfoliators
o Sun Protector Products
o Water-resistant Sunscreen
o Moisturizer and Foundations with SPF
o Extended-wear Sunscreen
o Others
o Serums
o Anti-aging Serums
o Skin-brightening Serums
o Hydrating Face Serums
o Acne Fighting Serums
o Exfoliating Face Serums
o Reparative and Renewing Face Serums
o Others
q Body Care Products
o Body Lotions
o Body Oils
o Body Toners
o Others
q Others
By Material Type the global Skin Care Market has been divided into:
q Organic and Herbal
q Inorganic
q Others
By Application the global Skin Care Market has been divided into:
q Cleansing
q Skin Whitening and Brightening
q Toning
q Skin Repairing
q Anti-aging
q Moisturising
q Blackheads and Pores Cleaning
q Make Up Remover
q Sun Protector
q Tan Removal
q Others
By Skin Type the global Skin Care Market has been divided into:
q Dry Skin
q Oily Skin
q Neutral
q Mixed Skin
q Sensitive Skin
q Others
By End Use the global Skin Care Market has been divided into:
q Personal
q Commercial
By End Usage the global Skin Care Market has been divided into:
q Female
q Male
q Others
By Distributional Channel the global Skin Care Market has been divided into:
q Supermarkets and Hypermarkets
q Online
q Others
By country/region, the global Skin Care Market has been divided into:
q North America (the U.S., Canada),
q Latin America (Brazil, Mexico, Argentina and other countries),
q Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as:
q L’Oreal
q Johnson & Johnson
q Maybelline
q Burt’s Bees
q P&G
q Ahava
q Matrix Essentials
q Sisley
q H20Plus
q Nutrogena
q Dermalogica
q Beiersdorf
q Kao Corporation
q The Body Shop International PLC
q Unilever PLC
q Avon Products Inc.
q The Estee Lauder Companies Inc.
others have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Skin Care Market related investment & spending and developments by major players of the market are tracked in this global report.
Report Highlights:
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, IGR-Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Few Recent Developments
L’Oreal
The L’Oreal Paris, a French Skin Care Products company is now dominating the global market of Skin Care. Beside the already existing different type of products for all types of skins and consumers, it has recently launched their new technology SKINGENIUS to further capture the said market. This app provides detailed and informed answers as fast as possible to all the questions asked by its consumers and also offers professional advices like a personal professional make up adviser and skin dermatologist. The great quality of the L’Oreal Paris products at a reasonable price is also very attractive to the customers.
Johnson & Johnson
One of the oldest and biggest Skin Care Products Brands in the whole world Johnson & Johnson has been mixing scientific researches with their variety of products to make it of better quality and more preferable and beneficial to their customers.
Maybelline
Maybelline New York is one of most recognized Skin Care Products brand across the world with a total distribution in over 129 countries around the globe. The company has been launching various types of products with newer and better properties since the beginning. They are using internationally famous stars, fashion walks and red carpets and advertisement campaigns to promote their brand. They also trying to bring the exclusive fashion looks of stars and models to its customers with the products at a very budget-friendly price which is very attractive to the consumers.
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Salient Features:
Ø This study offers comprehensive yet detailed analysis of the Skin Care Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
Ø This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, competitive market strategies of leading market players, emerging market trends, and regional outlook
Ø Profiling of key market players in the world Skin Care Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
Ø The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of different type of models, government initiatives, marketing tactics and expansion, and technical up gradation
Ø The world market for Skin Care caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Skin Care Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation
Ø Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
v Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Skin Care Market
v Identification of key factors driving investment opportunities in the Skin Care Market
v Facilitate decision-making based on strong historic and forecast data
v Position yourself to gain the maximum advantage of the industry’s growth potential
v Develop strategies based on the latest regulatory events
v Identify key partners and business development avenues
v Respond to your competitors’ business structure, strategy and prospects
v Identify key strengths and weaknesses of important market participants
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