Skincare Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Global Skincare Products Market is segmented into by Product Type (Facial Care, Lip Care, and Body Care), Category (Premium Skin Care Products and Mass Skin Care Products), Distribution Channel (Specialist Retail Stores, Supermarkets/Hypermarkets, Convenience Stores, Pharmacies/Drug Stores, Online Retail Channels, and Other Distribution Channels). The report offers market size and forecasts for the skincare products in value (USD billion) for all the above segments.

Market Snapshot

Skincare Products Market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: 4.69 %
Skincare Products Market Major Players

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Market Overview

The Global Skincare Products Market was valued at USD 140.92 billion in 2020, and it is projected to witness a CAGR of 4.69% during the forecast period, 2021-2026.

The COVID-19 pandemic influenced consumers’ spending habits and purchase decisions, leading to a slight decline in the market growth by 1.12% in 2020, owing to various governments imposing multiple measures intended to slow down the spread of COVID-19. Some basic initiatives include social isolation directives, limitations on business opening hours, and travel restrictions. However, the sales of the product through online outlets escalated during the pandemic. For Instance, Zalando, Europe’s fashion and lifestyle e-commerce company, witnessed a YOY increase of 300% in sales of skin-, nail-, and hair-care products in 2020.

Rising awareness regarding the various benefits of using personal care products has resulted in a rise in their demand over the last few years. This has also boosted the demand for natural and organic skincare products, making it a major sector in the cosmetics and wellness industry, and the trend is expected to remain the same post-COVID.

The skincare market has rocketed ahead of the global cosmetics market in recent years, encompassing categories like face and body care, cleansers, and sun protection. More skincare brands and retailers like Sephora, Kiehl’s, Vichy, and Bobbi Brown are deploying solutions like virtual advisors to speak directly to consumers in real-time, reveal their needs and concerns, recommend products, and guide them through the sales process. This is not any different from the kind of consultation that consumers get in stores, but it is critically different that it is now available online, thus contributing toward the market growth during the forecast period.

Scope of the Report

Skincare products are a range of products that support skin integrity, enhancing appearance, and relieve skin conditions. These are applied to the skin to avoid symptoms of early aging, pimples, and black patches. The Global Skincare Products Market is segmented by Product Type into Facial Care, Lip Care, and Body Care; By Category into Premium Skin Care Products and Mass Skin Care Products, By Distribution Channel into Specialist Retail Stores, Supermarkets/Hypermarkets, Convenience Stores, Pharmacies/Drug Stores, Online Retail Channels, and Other Distribution Channels. The market is segmented by geography to include the top trends in North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD billion).

Product Type
Facial Care
Moisturizers, Creams, and Lotions
Serums and Essence
Face Masks and Packs
Other Facial Care Products
Lip Care
Body Care
Body Wash
Body Lotions
Premium Skincare Products
Mass Skincare Products
Distribution Channel
Specialist Retail Stores
Convenience Stores
Pharmacies/Drug Stores
Online Retail Channels
Other Distribution Channels
North America
United States
Rest of North America
United Kingdom
Rest of Europe
Rest of Asia-Pacific
South America
Rest of South America
Middle East & Africa
South Africa
Saudi Arabia
Rest of Middle East & Africa

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Key Market Trends

Growing Demand for Anti-aging and Anti-pollution Ranges

The market is experiencing an accelerating demand for anti-aging products, like anti-wrinkle cream, face cream, serum, eye cream, and others. In addition, factors like pollution and hard water conditions are bombarding such products' needs. An ascending number of consumers in the market are becoming aware of pollution's impact on the skin. 

In the United Kingdom, nearly 80% of consumers are aware of the impact of lifestyle stresses on the skin. Thus, consumers are inclined toward spending on skincare treatments at a younger age. They spend significant time and money on products that reduce the signs of aging. Hence, the increasing interest in anti-aging skincare products for youthful skin and skincare products enriched with vitamin-c, vitamin-E, collagen, and others to delay the aging has resulted in an increasing number of manufacturers trying to penetrate this highly lucrative market through various strategies such as product innovation, mergers and acquisitions, and others.

 For instance, in 2019, San Francisco-based Gryphon Investors announced the acquisition of anti-aging skincare brand RoC from Johnson & Johnson Consumer Inc. RoC has a 60+ year history in anti-wrinkle and anti-aging skincare, with more than 75 products sold in the United States, Europe, and Latin America.

Skincare Products Market Trends

Asia-Pacific Registers the Fastest Growth Rate

Growing population and rapid urbanization, along with the increase in per capita spending on personal care products in highly developing economies such as China, South Korea, India, and Indonesia, are contributing towards the growth of the skincare market in this region. In addition, the increasing availability of affordable skincare products also helps drive the skincare market. Moreover, the consumption of facial care products in China is most prevalent in tier 1 megacities of the country, with increasing penetration in tier 2 and tier 3 cities, which have been experiencing an increase in China’s growing middle class and the consumption of skin and personal care products as a whole. Thus, major players are intensely embarking on product innovation and mergers and acquisitions as their prime strategy to consolidate the market studied. For instance, in 2020, Shiseido unveiled a new sustainable skincare brand, Baum, developed with social responsibility and environmental considerations. The line includes a total of 27 products and 45 items.

Skincare Products Market Growth

Competitive Landscape

The Global 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. For instance, in 2020, L’Oréal SA signed an agreement to acquire the Japanese company Takami Co., which develops and markets products licensed by the skincare brand Takami. L'Oréal also renewed a long-term licensing agreement with Takami brand and signed a collaboration agreement with his dermatology clinics in Tokyo. The brand is available in Japan and other Asian countries, notably China.

Recent Developments

  • In 2021, Gillette launched Planet KIND, a new shaving and skincare brand. Planet KIND packaging is recyclable and made with 85% recycled paper, 85% recycled plastic, or infinitely recyclable aluminum. The Planet KIND lineup includes moisturizer, face wash, and others.
  • In 2021, Beiersdorf launched Personalized Face Care New Brand O.W.N. Only What’s Needed” – O.W.N only uses ingredients specially formulated for individualized skincare needs.
  • In 2020, L’Oréal SA acquired Thayers Natural Remedies, a US-based natural skincare brand from Henry Thayer Company. The brand is expected to be integrated into L’Oréal’s consumer products division.

Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 Product Type

      1. 5.1.1 Facial Care

        1. Cleansers

        2. Moisturizers, Creams, and Lotions

        3. Serums and Essence

        4. Toners

        5. Face Masks and Packs

        6. Other Facial Care Products

      2. 5.1.2 Lip Care

      3. 5.1.3 Body Care

        1. Body Wash

        2. Body Lotions

    2. 5.2 Category

      1. 5.2.1 Premium Skincare Products

      2. 5.2.2 Mass Skincare Products

    3. 5.3 Distribution Channel

      1. 5.3.1 Specialist Retail Stores

      2. 5.3.2 Supermarkets/Hypermarkets

      3. 5.3.3 Convenience Stores

      4. 5.3.4 Pharmacies/Drug Stores

      5. 5.3.5 Online Retail Channels

      6. 5.3.6 Other Distribution Channels

    4. 5.4 Geography

      1. 5.4.1 North America

        1. United States

        2. Canada

        3. Mexico

        4. Rest of North America

      2. 5.4.2 Europe

        1. United Kingdom

        2. Germany

        3. France

        4. Russia

        5. Italy

        6. Spain

        7. Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. India

        2. China

        3. Japan

        4. Australia

        5. Rest of Asia-Pacific

      4. 5.4.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.4.5 Middle East & Africa

        1. South Africa

        2. Saudi Arabia

        3. Rest of Middle East & Africa


    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Procter & Gamble Company

      2. 6.3.2 Beiersdorf AG

      3. 6.3.3 Loreal SA

      4. 6.3.4 Unilever PLC

      5. 6.3.5 The Estée Lauder Companies Inc.

      6. 6.3.6 Amorepacific Corporation

      7. 6.3.7 Shiseido Company Limited

      8. 6.3.8 Johnson & Johnson Services Inc.

      9. 6.3.9 Kao Corporation

      10. 6.3.10 Colgate-Palmolive Company

    4. *List Not Exhaustive


**Subject to Availability

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Frequently Asked Questions

The Skincare Products Market market is studied from 2016 - 2026.

The Skincare Products Market is growing at a CAGR of 4.69% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Loreal SA, Unilever Plc, The Estee Lauder Companies Inc., Procter & Gamble Company, Beiersdorf AG are the major companies operating in Skincare Products Market.

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