Market Size of Skincare Products Industry
| 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 |
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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.
