Professional Skincare Market size is set to grow by USD 4.22 billion from 2024-2028, Product innovation and product line extension leading to product premiumization boost the market, Technavio

NEW YORK, June 7, 2024 /PRNewswire/ -- The global professional skincare market size is estimated to grow by USD 4.22 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  5.31%  during the forecast period. Product innovation and product line extension leading to product premiumization is driving market growth, with a trend towards increased demand for organic skincare products. However, similar benefit from low-priced consumer category products  poses a challenge. Key market players include AbbVie Inc., Bausch Health Companies Inc., Beiersdorf AG, Chanel Ltd., Coty Inc., Eminence Organic Skin Care, Episciences Inc., Fountain Of Youth Skincare, Groupe Clarins, Guinot SAS, Lancer Skincare LLC, LOccitane Groupe SA, LOreal SA, Natura and Co Holding SA, Obagi Cosmeceuticals LLC, Revlon Inc., Shiseido Co. Ltd., The Estee Lauder Companies Inc., The Procter and Gamble Co., and Unilever PLC.

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Market Driver

The global professional skincare market is experiencing growth due to rising consumer awareness about skin issues caused by synthetic products. Organic skincare offerings, made with natural ingredients like plant extracts and oils, are gaining popularity for their health benefits and absence of harmful substances such as petrochemicals, sulfates, and parabens.

Manufacturers are expanding their product lines to meet this demand, differentiating themselves in the market. Key natural ingredients include sunflower oil, jojoba oil, aloe vera, turmeric, and olive oil. Organic skincare's benefits, such as reducing irritation and allergies, contribute to market expansion. 

The professional skincare market is currently experiencing significant growth, with a focus on innovative products and effective solutions. Key trends include the use of natural ingredients, such as those found in apple cider vinegar and honey, for their antioxidant and anti-inflammatory properties. Additionally, the use of advanced technologies, like microdermabrasion and chemical peels, for exfoliating and brightening the skin is gaining popularity.

Producers are also focusing on creating customized skincare routines based on individual skin types and concerns. The use of sustainable and cruelty-free practices is also becoming increasingly important to consumers. Overall, the professional skincare market is continuously evolving to meet the demands of consumers seeking effective and ethical skincare solutions. 

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Market Challenges

• In developing countries, consumer preference for traditional skincare remedies over professional products persists. This trend is influenced by the limited reach of organized retail and the affordability of homemade and local alternatives. Consumers in these markets, primarily middle- and lower-income classes, cannot afford premium professional skincare products.
• Popular homemade remedies include milk, baking soda, and tomato pulp, while other affordable options include organic products and offerings from local vendors. These factors are expected to impede the growth of the global professional skincare market.
• The professional skincare market faces several challenges in producing and distributing effective products. These include the need for advanced research and development to create innovative solutions (Skin, Pollutants, Procedures, Rosacea, Icthyoses, Vitiligo, Seborrheic, Psoriasis, Artificials, Patches, Actives, Innovative, Devices, Digital).
• Additionally, maintaining a high standard of quality and safety is crucial (Dermatitis, Hydratrans, Skincare, Procedures, Products, Devices). Sourcing and procuring raw materials can also be a challenge due to their high cost and availability (Basis, Procurement, Cost, Availability). Furthermore, marketing and promoting these products to consumers in a competitive market requires significant investment and strategy (Brand, Marketing, Consumer, Competition).

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Segment Overview 

1. Product Type
• 1.1 Face skincare products
• 1.2 Body skincare products
2. Distribution Channel
• 2.1 Offline
• 2.2 Online
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Face skincare products-  The professional skincare market for face care products holds the largest market share, driven by increasing consumer awareness and the aging population's demand for anti-aging solutions. Significant trends include the use of UV absorbers and multifunctional, natural products. The cosmetics industry's growth and marketing efforts also contribute to the segment's expansion. Consumer preference for dermatologist-recommended products further fuels market growth.

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Research Analysis

In the professional skincare market, understanding one's skin type and conditions is paramount for effective personal grooming. Skin issues such as burns, scars, patchy skin, and itchy skin can significantly impact an individual's confidence and overall appearance. UV rays from the sun are a leading cause of various skin problems, making sun protection essential.

Moisturizing through lotions, serums, and creams is crucial for maintaining skin health and revitalizing cells, ensuring a fresh look. Hydration is also vital, as dry skin can lead to numerous complications. Raising awareness about various skin concerns and their solutions is a key focus for businesses dealing in beauty products. By addressing these issues, individuals can soften and improve their skin pattern, ultimately enhancing their personal appearance.

Market Research Overview

The professional skincare market encompasses a range of products designed to maintain and improve the appearance of skin. These offerings include cleansers, toners, serums, moisturizers, sunscreens, and treatments for various concerns such as aging, acne, and hyperpigmentation. Innovative ingredients like retinoids, vitamin C, hyaluronic acid, and peptides are commonly used to address specific skin issues.

Brands prioritize research and development to create effective, safe, and eco-friendly solutions. Consumers seek skincare that caters to their unique skin types and concerns, driving the market's growth. The industry also focuses on education and personalization to help customers make informed choices.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product Type
• Face Skincare Products
• Body Skincare Products
• Distribution Channel
• Offline
• Online
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio