The Skin Care Products Market size is expected to reach USD 207.49 Billion in 2028 and register a revenue CAGR of 4.8% over the forecast period, according to the latest report by Reports and Data. Growing demand for chemical free and natural products is a key factor driving market revenue growth. Variety of skin care products are available in the market such as anti-aging creams, sunscreens, body lotions and skin lightening cream and others. People have become more conscious about these creams. Consumer preferences have shifted towards natural skin care products because it provides better UV protection to the skin, have anti-aging properties which help to look younger.
Consumers spend more on skin care from an early age. They spend a considerable amount of time and money on products to reduce the signs of aging. Therefore, there is a growing interest in anti-aging skincare products with Vitamin-C, Vitamin-E, collagen, and others that delay skin aging. Consequently, number of manufacturers is increasing and these companies are focusing to enter the market through various strategies such as product innovations, and merger acquisitions.
In the skin care products industry, rising consciousness about physical appearance and excellent skin quality is a major factor driving market revenue growth. In addition, increasing investments in research and development of new products, outstanding marketing campaigns used by existing major players are supporting market revenue growth.
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Some Key Highlights from the Report
- Face cream segment is expected to register a significantly fast revenue growth rate over the forecast period. Face creams include face moisturizers, skin lightening creams, toners, anti-aging creams and others. Skin lightening creams are used to lighten the color of skin by reducing the amount of melanin which is a pigment produced by skin cells that determines the complexion of skin. These products are also used in treating dark spots or sunspots. These creams consist of hydroquinone which can reduce melanocytes. Vitamin C which has antioxidants characteristics, which is also a common ingredient of skin lightening creams to reduce melanin production in our cells.
- Mass skin care products segment is expected to register a rapid revenue growth rate over the forecast period. These products are used in daily routine by the consumers. People belonging to moderate income levels can buy these types of products as these products are available at affordable prices.
- Natural or organic segment is expected to register a significantly fast revenue growth rate over the forecast period. Consumer preferences are shifting towards natural skin care products because of presence of natural ingredients such as jojoba oil, argan oil, apple juice, lemon juice which are beneficial for skin. Advantages of using these products include natural fragrance, no irritation, and better skin nutrition.
- Online retail channels segment revenue is expected to expand at a rapid rate over the forecast period. Online retail channels offer better prices of products and consumers can easily compare the prices which are available for large variety of product category. Some other benefits including discounts or coupons, clear information about products, easy product replacement and refund policy, availability of fast delivery options and rare products is a factor driving revenue growth of the segment.
- Market in Europe is expected to account for largest revenue share over the forecast period due to technological advancements, increasing launch of various innovative lotions and creams, rising disposable income, and rising demand for anti-aging creams.
- Major players profiled in the global market report include Procter Gamble, Beiersdorf AG, L'Oréal S.A., Unilever PLC, The Estée Lauder Companies Inc., Revlon, Inc., Kao Corporation, Shiseido Company Limited, Johnson Johnson Services, Inc. and Colgate-Palmolive Company.
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For the purpose of this report, Reports and Data has segmented the global skin care products market based on product type, category type, ingredient type, gender type, distribution channel type, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Face Cream
- Lip Care
- Body Care
Category Type Outlook (Revenue, USD Billion; 2018-2028)
- Premium Skin Care Products
- Mass Skin Care Products
Ingredient Type Outlook (Revenue, USD Billion; 2018-2028)
- Natural or Organic
Gender Type Outlook (Revenue, USD Billion; 2018-2028)
Distribution Channel Type Outlook (Revenue, USD Billion; 2018-2028)
- Specialist Retail Stores
- Supermarkets or Hypermarkets
- Convenience Stores
- Pharmacies or Drug Stores
- Online Retail Channels
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Asia Pacific
- Latin America
- Middle East Africa
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Key questions answered by the report
- Why online retail channels are most preferable by consumers?
- Which region is the top most region in skin care products market?
- Why people prefer organic skin care products rather than chemical skin care products?
- Which is the most lucrative product type in skin care products market?
- Who are the major key players in the skin care products market?
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