|Study Period:||2016 -2027|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||Asia Pacific|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The skincare products market is projected to register a CAGR of 4.69% during the forecast period, 2022-2027.
Consumer spending patterns and shopping selections were influenced by the COVID-19 epidemic. As a result of several governments taking multiple measures to restrict the spread of COVID-19, market growth has slowed slightly. Social isolation guidelines, business operating hours restrictions, and travel restrictions were just a few of the basic approaches during the pandemic. However, online sales of the product increased.
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. Consumers are using skincare products earlier as they become more aware of skin illnesses and treatments, which is helping the market grow. An increasing number of women are opting for anti-aging products, 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 the market growth during the study period. Furthermore, the rising awareness about the harmful effects of chemicals and synthetic products is another factor augmenting the growth of the market. Most consumers tend to buy products with natural or organic labeling, which drives market growth.
Scope of the Report
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. By 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). By category, the market is segmented into premium skin care products and mass skin care products. By distribution channel, the market is segmented 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).
|By Product Type|
|Premium Skincare Products|
|Mass Skincare Products|
|By Distribution Channel|
|Specialist Retail Stores|
|Online Retail Channels|
|Other Distribution Channels|
Key Market Trends
Growing Demand for Anti-aging and Anti-pollution Ranges
Anti-aging products such as anti-wrinkle cream, face cream, serum, and eye cream are in high demand on the market. Furthermore, problems such as pollution and hard 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. Nearly 80% of customers in the United Kingdom are aware of the effects of lifestyle stress 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. As a result of the growing interest in anti-aging skincare products for younger skin and skincare products enriched with vitamins C, E, collagen, and other ingredients to delay aging, an increasing number of manufacturers are attempting to break into this lucrative market through various strategies such as product innovation and mergers and acquisitions.
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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. Furthermore, facial care product consumption is most common in China's tier 1 megacities, with increasing penetration in tier 2 and tier 3 cities, which have seen an increase in China's growing middle class and overall skin and personal care product consumption. As a result, key players are focusing heavily on product innovation and mergers and acquisitions as their primary strategies for consolidating the market under consideration.
As the growing beauty salons are 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. Just like Europe, where the growing number of new beauty and wellness shops was far higher than any other retailing outlet type, India is also observing a boom in the fashion and beauty industries.
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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.
In 2022, LVMH’s brand KVD beauty launched New Good Apple Lightweight Full-Coverage Concealer. The concealer contains ultra-concentrated InterLace Pigments that blend easily into the face for crease-resistant coverage and maximum vibrancy.
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 and face wash.
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.
Table of Contents
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 By Product Type
5.1.1 Facial Care
220.127.116.11 Moisturizers, Creams, and Lotions
18.104.22.168 Serums and Essence
22.214.171.124 Face Masks and Packs
126.96.36.199 Other Facial Care Products
5.1.2 Lip Care
5.1.3 Body Care
188.8.131.52 Body Wash
184.108.40.206 Body Lotions
5.2 By Category
5.2.1 Premium Skincare Products
5.2.2 Mass Skincare Products
5.3 By Distribution Channel
5.3.1 Specialist Retail Stores
5.3.3 Convenience Stores
5.3.4 Pharmacies/Drug Stores
5.3.5 Online Retail Channels
5.3.6 Other Distribution Channels
5.4.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.4.4 South America
184.108.40.206 Rest of South America
5.4.5 Middle East & Africa
220.127.116.11 South Africa
18.104.22.168 Saudi Arabia
22.214.171.124 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 L'Oreal SA
6.4.2 Unilever PLC
6.4.3 The Estiee Lauder Companies Inc.
6.4.4 Procter & Gamble Company
6.4.5 Beiersdorf AG
6.4.6 Amorepacific Corporation
6.4.7 Shiseido Company Limited
6.4.8 Johnson & Johnson Services Inc.
6.4.9 Kao Corporation
6.4.10 Colgate-Palmolive Company
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Skincare Products Market market is studied from 2016 - 2027.
What is the growth rate of Skincare Products Market?
The Skincare Products Market is growing at a CAGR of 4.69% over the next 5 years.
Which region has highest growth rate in Skincare Products Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Skincare Products Market?
Asia Pacific holds highest share in 2021.
Who are the key players in Skincare Products Market?
Loreal SA, Unilever Plc, The Estee Lauder Companies Inc., Procter & Gamble Company, Beiersdorf AG are the major companies operating in Skincare Products Market.