Global Skin Care Products Market: Snapshot
The global skin care products market is anticipated to increase growth due to the strong desire of people to enjoy robust health. Increasing healthcare awareness and focus toward building a confident personality could work in the favor of the global skin care products market. The demand in the global skin care products market is projected to increase because of the need to maintain skin health in today’s environment where pollution levels are extremely high. Rising self-consciousness among people and their changing lifestyle could be other factors augmenting the demand in the global skin care products market.
The global skin care products market could reach a US$155.4 bn as total valuation by 2021 while clocking a 4.9% CAGR during the forecast period 2015-2021.
Face Cream to Gain Traction with Launch of New Products with Innovative Formulations
The global skin care products market is segregated into two segments on the basis of a classification by product: body lotion and face cream. According to recent trends and future projections, face cream is envisaged to take the lead in the global skin care products market in terms of demand. The skin care products market for face cream secured a commanding share in the recent past.
Over the past few years, the face cream segment has been taking advantage of continuous introduction of new lines in the global skin care products market. Innovative formulations of these new products are expected to play a significant role in the growth of the face cream skin care products market. The face cream segment of the global skin care products market is further classified into sun protection, anti-aging, and skin brightening creams.
The body lotion classification of the global skin care products market is forecast to bank on the growing significance of natural ingredients that help to avoid skin dryness, hydrate the skin, and improve skin quality. The use of natural ingredients could draw a number of consumers to the body lotion skin care products market in the near future. Natural ingredients not only improve the skin’s immune system but also carry antioxidant properties. The body lotion segment is further bifurcated into premium and mass market body care lotions.
Asia Pacific to Collect King’s Share with Changing Preferences for Skin Care
On the geographical front, Asia Pacific is predicted to dominate the global skin care products market in the coming years. Improving preferences for skin care products and high levels of pollution in emerging economies such as India could push the growth of the regional skin care products market. Increasing awareness about the benefits of using skin care products and product innovation are envisioned to bode well for the skin care products market in the region. Another factor that could create telling demand in the regional skin care products market is the rising need to avoid black spots, pigmentation, wrinkles, and skin patches.
The Rest of the World could also show decent growth in the global skin care products market due to the increasing number of beauty salons and rising concerns due to the harmful impact of high pollution on the skin.
The global skin care products market includes leading players such as Johnson & Johnson Services Inc., The Estee Lauder Companies Inc., and L’Oréal S.A.
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