Skincare Products Market: 47% of Growth to Originate from APAC | By Product (face skincare products and body skincare products), Distribution channel, and Geography | Market Size, Share, Trends Analysis, and Segment Forecasts, 2020-2024

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Growing Adoption of Home Salon and Spa Services to Drive the Market Growth

Over the last decade, the number of app-based salon and spa service providers that offer at-home grooming services has grown significantly. Mobile apps enable consumers to order salon and spa services and meet make-over artists personally at the given address. Housejoy and GLAMSQUAD have their mobile and desktop applications for clients to book an appointment for grooming services. These services have witnessed an expansion and high demand due to their low service charges and the convenience of grooming services at home. Therefore, the availability of such personalized home salon and spa services is expected to propel the growth of the market in focus in terms of consumption during the forecast period.

Stringent Regulations to Challenge the Market Growth

In the US, the Food and Drug Administration (FDA) regulates the use of toxic ingredients in skincare products, but the FDA does not pre-test cosmetic products. Therefore, it is a regulatory issue. The use of toxic ingredients in skincare products may result in health hazards if used in excessive capacity. The government regulations emphasize more on product labeling; the manufacturers are required to label all the ingredients used in the skincare products. The fact that skincare manufacturers who aim to penetrate a market ought to abide by governmental rules and regulations on product composition, labeling, and packaging makes entry into a new market a strenuous task.

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Skincare Products Market 2020-2024: Segmentation

• Geographic
• APAC
• Europe
• North America
• South America
• MEA

47% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for skin care products in APAC. Market growth in this region will be faster than the growth of the market in other regions. The growing concern for personal hygiene and wellness will facilitate the skincare products market growth in APAC over the forecast period.

• Product
• Face Skincare Products
• Body Skincare Products

The skincare products market share growth in the face skincare products segment will be significant during the forecast period. The increase in the older population and advances in the technology used in manufacturing facial skincare products are the factors that contribute to the growth of the segment.

• Distribution Channel
• Offline
• Online

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Skincare Products Market 2020-2024: Vendor Analysis

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Beiersdorf AG
• CHANEL Ltd.
• Groupe Clarins
• Johnson & Johnson
• Revlon Inc.
• Shiseido Co. Ltd.
• The Estee Lauder Companies Inc.
• The Procter & Gamble Co.
• Unilever Group

Moreover, the skincare products market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

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The Report also Covers the Following Areas:

• Skincare Products Market size
• Skincare Products Market trends
• Skincare Products Market analysis

Skincare Products Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist skincare products market growth during the next five years
• Estimation of the skincare products market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the skincare products market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of skincare products market vendors

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