Growing awareness towards healthy life and beautiful personality is stimulating the demand for skin care products globally. Rising concern about adverse effects of pollution on skin is boosting the demand for skin care products globally. Changing lifestyle and increasing consciousness consumers are showing interest for maintaining proper skin care routine along with healthy diet. Due to busy lifestyle people finds it difficult to follow lengthy skin care routine. With the rising awareness consumers are shifting towards advance skin care products such as face creams which include skin brightening cream, anti-aging, sun protection cream and body lotions such as mass market body care lotions and premium body care lotions. China with its huge population is dominating the market for skin care products across Asia Pacific, followed by Japan. France is major market for skin care products in Europe, followed by U.S. in North America. Consumer preference for flawless skin and demand for healthy living is fueling the demand for skin care products globally.
Skin care is a sensitive issue and consumers tend to be conscious in choosing skin care products. Consumers prefer standard quality skin care products for better and safe results. Keeping in mind the consumer shift towards premium quality skin care products, manufacturers are introducing skin care products with better formulations for good results. Increasing number of beauty salons in developing countries of Asia Pacific and RoW is also expected to boost the demand for skin care products in this region.
Increasing demand for flawless skin and beauty consciousness is one of the prime factors boosting the demand for skin care products in Asia Pacific, followed by Europe and North America. Consumers in these regions show strong preference for skin care products not only to avoid black spots, patches and wrinkles but also for maintaining a healthy skin. Currently, consumers are also showing looking for body care lotions for various skin types such as oily skin, dry and sensitive skin. In order to meet increasing demand for skin care products, manufacturers are investing huge amounts to launch skin care products with better formulation and solutions. Rising awareness about harmful effects of pollution is one of the major factors driving the demand for skin care products in rest of the world (RoW).
Currently, consumers prefer to buy organic skin care products owing to increase in awareness about the adverse impact of chemicals on skin. Therefore, a large number of manufacturers of skin care products such as Weleda and Babor are focusing on product innovation. These companies are adopting upgraded formulations and solutions for premium quality skin care products. Additionally, decline in unemployment rate and increase in disposable income is propelling consumer spending on skin care products. Rising ability of higher income individuals to spend on premium skin care products is positively affecting the market for skin care products. Focusing on the busy lifestyle of consumers, manufacturers of skin care products are introducing products that provide multiple benefits. Kao USA Inc.
introduced a new cream named Jergens BB Body Perfecting Skin Cream taking into account the popularity of BB creams. Furthermore, L’Oréal USA introduced L’Oréal Visible Lift Blur Foundation, which offers sun protection factor (SPF) 18. However, rise in aging population is a prominent factor driving products such as anti-aging creams and sun protection creams. Thus, the global skin care products is expected to expand significantly during the forecast period.
Skin care products are distributed through various distribution channels including hypermarkets and supermarkets, beauty product retailers, departmental stores, drug stores, pharmacies and online stores among others. Currently, manufacturers are adopting business strategies such as widening distribution channels for better product availability in the market.
Changing lifestyle and preference for convenient skin care products is primarily attributing to the growth of skin care products market globally. Product innovation from the manufacturers end and increasing awareness towards the benefits of using skin care products is stimulating the market for skin care products globally.
Asia Pacific held the largest market share in global skin care products market followed by Europe in 2014. Changing preference towards skin care and rising consciousness for healthy and beautiful personality is creating a positive impact on the market for skin care products. Usage of skin care products in North America and Rest of the World is expected to witness decent growth over the forecast period.
The research study on the global skin care products market provides a detailed analysis of the market, including forecast statistics as well as historical data about the market. The study further talks about the demand and supply approach, products in the market, major segments, manufacturing capacities of major players and regions, recent developments, and competitive landscape of the global market for skin care products. The research report further talks about the market drivers, barriers, opportunities, and challenges faced by the major players in the global market.
According to the research study, the rising awareness regarding healthy lifestyles and the increasing desire of the global population to maintain a youthful appearance are the major factors that are estimated to boost the demand for skin care products across the globe. In addition, the growing concern about the adverse effects of pollution on the human skin is further driving the global skin care products market. Moreover, in recent years, the online retail industry has been gaining traction, giving a strong boost to the skin care products market.
The research report has further provided strategic recommendations by industry experts to assist the major players in the market in finalizing their business strategies effectively. The use of several analytical tools has been made in the research report to determine the growth drivers, opportunities, and trends observed in the global skin care products market.
Overview of the Global Skin Care Market
In 2014, the global skin care products market was worth US$110.7 bn and is anticipated to reach a value of US$155.4 bn by the end of 2021. The market is projected to register a healthy 4.90% CAGR between 2015 and 2021.
The increasing demand from the population for beautification is one of the major factors expected to fuel the growth of the global skin care products market in the near future. In addition, the rising interest in grooming, brightening of skin, and the increasing disposable income among the population in emerging economies are the other factors driving the overall market. The rising numbers of distribution channels such as supermarkets, hypermarkets, departmental stores, beauty product retailers, and online stores are further boosting the sales of skin care products globally.
The global skin care products market has been broadly classified into body lotions and face creams. The body lotion segment is further divided into premium body care lotions and mass market body care lotions, whereas the face cream segment has been divided into sun protection cream, skin brightening cream, and anti-aging cream. Among these, the anti-aging face cream segment accounts for the largest share in the global market, followed by skin brightening face creams. Among body lotions, the mass market body care lotion segment holds the largest share in the overall body lotions market.
The global skin care products market has been divided on the basis of geography into Asia Pacific, North America, Europe, and Rest of the World. Presently, the Asia Pacific market holds the largest share in the global market and is anticipated to remain in the leading position in the next few years. The rapid growth of this region can be attributed to the rising demand in the emerging markets of China and Japan.
Companies mentioned in the research report
The global skin care products market is highly competitive, owing to the presence of several prominent players in the market. The high growth potential of the market has encouraged several players to participate in the market and create a niche for themselves. Some of the major players operating in the global skin care products market are Kao Corporation, The Estee Lauder Companies Inc., Beiersdorf AG, Procter & Gamble, Avon Products Inc., Unilever PLC, Colgate-Palmolive Company, Shiseido Company, Limited, L'Oréal S.A., and Johnson & Johnson.
Key Segments of the Global Skin Care Market
Global Skin Care Market: By Product Segment
- Face cream
- Skin brightening cream
- Anti-aging cream
- Sun protection cream
- Body lotion
- Mass market body care lotion
- Premium body care lotion
Major regions analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments