Research Nester released a report titled “Skin Care Products Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global skin care products market in terms of market segmentation by product, by application, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The market for skin care products is anticipated to observe a significantly high growth with a CAGR of about 5.5% over the forecast period, i.e., 2019-2027. This can be attributed to the growing demand for natural products for the skin that are safer to use as compared to products that contain chemicals. The market is segmented by product, by application, by distribution channel and by region, out of which, the product segment is further segmented into cleansers, exfoliators, face masks, body lotions, moisturizers, sunscreens, anti-ageing creams and others. The anti-ageing creams segment is predicted to witness substantial growth during the forecast period as a result of growing ageing population and the anti-wrinkle, anti-tan and other such properties of these creams. On the basis of distribution channel, the market is segmented into supermarkets, general stores, pharmacies, online stores and others. Out of these, the online stores segment is anticipated to grow at the highest rate on account of rising preference of people for buying products online rather than from the stores.
On the basis of regional analysis, the skin care products market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific is predicted to hold the leading share in the skin care products market as a result of growing population and increased spending on make-up and skin care products in the region. Further, the presence of a large number of organic ingredients in the region that are grown locally promotes their usage in these products in place of synthetically-derived substances.
Growing Improvements in Skin Care Products to Boost the Market Growth
The rising demand for better skin care products by both men and women is estimated to become a major growth driving factor for the market. There is a high demand for products that are ammonia, sulphur and parabens-free, which is further estimated to contribute towards the market growth over the forecast period. However, the growing competition in skin care products market and the rising costs of products are estimated to hamper the market growth in the upcoming years.
This report also provides the existing competitive scenario of some of the key players of the global skin care products market which includes company profiling of L’Oréal Paris, Unilever, Estée Lauder Companies Inc., Johnson & Johnson Services, Inc., Revlon, New Avon Company, Beiersdorf AG, Colgate-Palmolive Company, Shiseido and Procter & Gamble. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global skin care products market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.