Press release
Skin Care Products Market Size, Insights, Outlook, Overview And Research Report 2024-2033
Skin Care Products Market
The skin care products market size is expected to see strong growth in the next few years. It will grow to $220.3 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to clean and sustainable skincare products, personalized skincare solutions, adoption of skincare technology apps, skin health awareness and wellness trends, expansion of the men's skincare market, emerging markets and global beauty trends.. Major trends in the forecast period include ai and machine learning for skincare analysis, dna-based personalized skincare products, eco-friendly and refillable skincare packaging, beauty tech devices for at-home skincare, biodegradable and zero-waste skincare products, skin microbiome-friendly products..
Market Overview -
Skin care refers to products that help support skin integrity and enhance its appearance. These products are sold in various types, such as creams, serums, and lotions. Skin care products are used to improve the appearance and texture of the skin and to moisturize and cleanse the face, hands, and body as well.
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Elevated Awareness Of Personal Care Product Benefits Fuels Skin Care Products Market Growth
The rising awareness regarding the various benefits of using personal care products is expected to propel the growth of the skin care products market going forward. Using personal care products in your daily routine helps maintain hygiene and prevents catching and spreading germs and diseases. For instance, in July 2021, according to an article published by Edge by Ascential, a US-based online price and promotion analytics service provider, the Health, Beauty, and Personal Care category is expected to grow rapidly, with sales increasing by 305.2 billion USD between 2021 and 2026. Meanwhile, e-commerce sales growth in this industry will outpace store-based sales growth by a 12.1% CAGR from 2021 to 2026. Over the next five years, the health, beauty, and personal care sector is expected to grow at a CAGR of 5.3% in e-commerce sales, surpassing the edible grocery segment and placing itself just behind household and pet care goods. Therefore, the increase in awareness regarding the various benefits of using personal care products is driving the growth of the skincare product market.
Competitive Landscape -
Major companies operating in the skin care products market include LOreal S.A., Beiersdorf AG, Shiseido Co. Ltd., Procter & Gamble, Unilever, Johnson & Johnson Inc., Avon Products Inc., Coty Inc., Colgate-Palmolive Company, Revlon, The Estée Lauder Companies Inc., Himalaya Wellness Company, Lotus Herbals pvt Ltd., Neutrogena Corporation, Olay, Barbara Sturm Molecular Cosmetics GmBH, Renée Rouleau, Kao Corporation, CeraVe, La Roche-Posay, Aveeno, Vichy, Cetaphil, Eucerin, Nivea, Garnier, LVMH
Artificial Intelligence Revolutionizes The Skin Care Products
The emergence of artificial intelligence is a key trend gaining popularity in the skin care products market. Major companies operating in the skin care products sector are focused on launching new AI-powered products to enhance their position in the market. For instance, in October 2022, AS Watson Group, a Hong Kong based beauty product manufacturer and retailer, launched Skinfie Lab, an advanced skin analysis tool that utilizes artificial intelligence (AI) to assess customers' skin and offer personalized skincare product recommendations based on their selfies, ensuring tailored skincare regimens.
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Key Segments -
The skin care products market covered in this report is segmented -
1) By Product Type: Anti-Aging Products, Skin Whitening Products, Sensitive Skincare Products, Anti-Acne Products, Dry Skin Care Products, Infant Skin Care Products, Other Product Types
2) By Distribution Channel: Hypermarket, Supermarket, Cosmetics stores, Online Stores, Other Distribution Channels
3) By End User: Male, Female, Kids
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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