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Skin Care Products Market Segmentation By Product (Cleansers, Exfoliators, Face Masks, Body Lotions, Moisturizers, Sunscreens, Anti-Ageing Creams and Others); By Application (Face and Body); By Distribution Channel (Supermarkets, General Stores, Pharmacies, Online Stores and Others) – Global Demand Analysis & Opportunity Outlook 2027

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Extensive insights into the Growth of Skin Care Products Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS
  • On January 10, 2017, Valeant Pharmaceuticals International announced that it entered into an agreement with L’Oréal to sell its three skincare brands - CeraVe, AcneFree and AMBI for USD 1.3 billion in cash. The brands collectively offer various skincare products including cleansers, moisturizers, acne treatments, creams and sunscreens.

  • On September 25, 2017, Unilever announced its agreement to acquire Carver Korea, a leading skincare brand in North Asia from Bain Capital Private Equity and Goldman Sachs for EUR 2.27 billion.

Skin Care Products Market Overview

The skin care products market is projected to grow significantly in the coming years as the demand for herbal and organic cosmetics as well as skin care products is increasing across the globe. People are inclining towards the use of products that do not contain chemicals in order to prevent the risk of allergies and skin disorders in the long run. Skin care products include a variety of creams, for instance, sunscreens, anti-ageing and anti-wrinkle creams, acne marks removal creams and others. These might be medicated or non-medicated and include natural ingredients such as neem, xanthan gum and fish oil.

Market Size and Forecast

The skin care products market is anticipated to record a CAGR of around 5.5% over the forecast period, i.e., 2019-2027. 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 estimated to grow as a result of growing ageing population and the anti-wrinkle and sun protection properties of the creams. On the basis of application, the market is bifurcated into face and body, out of which, the face segment is predicted to observe the highest market growth. This can be attributed to a larger demand for skin care products for face as compared to the body care products. Based on distribution channel, the market is segmented into supermarkets, general stores, pharmacies, online stores and others. The online stores segment is estimated to grow at the highest rate during the forecast period on account of rising preference of people for buying products online rather than from the stores.

Skin Care Products

Growth Drivers

Innovations in Skin Care Products to Boost the Market Growth

The growing demand for skin care products among both men and women is estimated to result in various innovations in order to create better and more effective products. 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. CLICK TO DOWNLOAD SAMPLE REPORT 

Rising Awareness about Chemical-Free Products to Propel the Market Growth

The growing awareness among people about the benefits of using natural and organic products over chemicals-containing products is predicted to raise the demand for natural skin care products. For instance, the increasing awareness about the harmful effects of the UV rays and the need for protection from it is leading to the development of sunscreens and anti-tan creams with higher SPF, which is anticipated to be a growth driving factor for the skin care products market. According to the United States Environmental Protection Agency, the exposure to UV rays increases the risk for melanoma, the most serious form of skin cancer. It occurs among people between the ages 15 and 29. It accounts for around 3% of all cancer cases and over 75% of deaths by skin cancer.

Restraints

High Costs of Skin Care Products to Hamper the Market Growth

The competition in skin care products market and the rising costs of products as a result of this is estimated to restrain the market growth in the coming years. The cost of organic and good quality products is high which is predicted to lead to a decreased customer base and therefore limit the market growth further.

Market Segmentation

Our in-depth analysis of the skin care products market includes the following segments:

By Product

  • Cleansers
  • Exfoliators
  • Face Masks
  • Body Lotions
  • Moisturizers
  • Sunscreens
  • Anti-Ageing Creams
  • Others

By Application

  • Face
  • Body

By Distribution Channel

  • Supermarkets
  • General Stores
  • Pharmacies
  • Online Stores
  • Others

By Region

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. Skin care products market in Asia Pacific is anticipated to hold the largest share in the upcoming years as a result of growing population and increased spending on make-up and skin care products in the region. Moreover, the presence of a large number of organic ingredients in the region promotes their usage in these products in place of synthetically-derived substances and thus it is further estimated to result in the growth of skin care products market in this region. The market in Europe is estimated to witness substantial growth on account of presence of market players and highly advanced technology and developments in skin care products in the region.

Skin Care Products Market Share

The skin care products market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC,  Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

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