BANGALORE, India, July 21, 2020 /PRNewswire/ -- The skincare industry has seen a shift from the demand of older consumers to an increasingly younger customer base. People are continuing to use skincare in a bid to postpone the signs of aging at an increasingly young age.
The Global Skin Care Products Market generated revenue of USD 136,304 Million in 2016, and is expected to grow at a CAGR of 4.5% to reach USD 194,961 Million by 2024.
Growing awareness about the benefits of using personal care items has resulted in increased demand over the past couple of years. This has also boosted the demand for natural and organic skincare products and has made it a major sector in the cosmetics and wellness industry.
TRENDS INFLUENCING THE SKIN CARE PRODUCTS MARKET SIZE
The major factors that are expected to drive the Global Skin Care Products Market size include shifts in lifestyle habits in developing countries due to rapid urbanization, increased awareness of advanced skincare products, and new product innovation
The expanding e-commerce sector is expected to fuel the growth of Skin Care Products Market size.
It is also expected that a change in consumer preference for natural and organic goods coupled with the growing use of environmentally friendly products would drive the growth of the Skin Care Products Market size. Organic product manufacturers spend more time, energy, and resources researching and developing natural products, which has led to green chemistry and green sector development.
Another critical factor increasing the Skin Care Products Market size is the increased use of sunblock, anti-tan, and anti-aging creams.
Skin brightening creams segment possesses high market attractiveness, as this range contains products for men too. Anti-aging creams and sun care creams have high potential in Asia-Pacific due to an aging population growth relative to developed countries.
Based on the region, Asia-Pacific generated the highest revenue in 2016. This dominance of Asia Pacific is due to the growing awareness about various skincare products and the increase in disposable income of the urban population.
LAMEA is expected to witness the fastest growth during the forecast period. The increased awareness of advanced skincare products and increased spending on wellness is expected to drive the Skin Care Products Market size in this region.
The Skin Care Products Market is highly competitive, and large multinational companies dominate it. Nonetheless, numerous smaller companies have gained a share in this market over the past few years due to the growing consumer interest in natural beauty products, particularly in Europe and North America.
Companies are continuing to sell customer-oriented products, focusing on producing environmentally sustainable goods made either locally or using ingredients obtained locally.
The major international players-L'Oreal, Procter & Gamble, and Unilever-have developed expansion strategies to capture the skincare market in the continent.
The key companies operating in the global skincare products market are
The face skincare product segment accounted for the largest share of the skincare products market during 2017. These products include skin-brightening creams, anti-aging creams, face moisturizers, toners, cleansers, face masks, face scrubs, and sun protection creams.
Additionally, the demand for natural and organic skincare products is high owning to an increased number of health-conscious customers across the globe.
The Skin Care Market Report provides an in-depth analysis of the skincare products market with current and future trends to elucidate the imminent investment pockets. This report also analyzes the impact of COVID-19 on the Skin Care industry.
The report offers an exhaustive geographical analysis of the global Organic Skin Care market, covering important regions, viz, North America, Europe, China, and Japan.
The Global Organic Skin Care Market report includes a country-wise and region-wise market size for the period 2015-2026. It also provides market size and forecast by each application segment in terms of sales for the period 2015-2026.
The global Cosmetic Skin Care market size was valued at USD 128380 Million in 2020 is expected to reach USD 174790 Million by the end of 2026.
Technological development in the manufacture of cosmetic products is expected to be a major driver for the growth of Cosmetic Skin Care Market size.
In developing countries, economic growth has further increased the consumption of cosmetic goods, as customers have more disposable income. This factor is further expected to fuel the market growth during the forecast period.
This report studies the Natural Skin Care market size (value and volume) by players, regions, product types and end industries, history data 2014-2018, and forecast data 2019-2025.
The Natural Skin Care Market report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors, and Porter's Five Forces Analysis.
The Face Cream Market report includes a country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by Type and application segment in terms of production capacity, price, and revenue for the period 2015-2026.
In 2019, the global Body Lotion market size was USD 13700 Million and it is expected to reach USD 17840 Million by the end of 2026.
The Body Lotion Market report offers a comprehensive analysis and accurate statistics on revenue by the player for 2015-2020. It also offers detailed analysis supported by reliable statistics on sale and revenue by players for the period 2015-2020.
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