Global Skin Care Market: Global Size, Trends, Competitive, Historical & Forecast Analysis to 2021-2027, Growing awareness regarding personal grooming, rising number of skin diseases and increased use of Wi-Fi coupled with online shopping are some of the major factors anticipated to drive the growth of Global Skin Care Market within the forecast period.
Global Skin Care Market is valued at USD 132.64 Billion in 2020 and is expected to reach USD 198.13 Billion by 2027 with a CAGR of 5.9% over the forecast period.
Skin care belongs to the variety of products to increase skin appearance and ways to make skin healthy and good looking. The proper skin care requires good nutrition along with use of skincare products according to skin type. Skin care is important as it is first layer of body to fight against infections and diseases. The skins integrity is supported by skincare products thus; it is broadly used by consumers to maintain and to improve skin conditions of the face and other body parts.
The sun damage, pollution and aging led to use skincare products in high amount by people. The skin type is generally decided by genetics of parents but many factors influence skin type, including stress, diet, environment, hormones, and sun exposure. Cleansing, toning and moisturizing (CTM) is a skincare routine suggested by doctors to maintain skin health, although products are different according to skin types. The different skincare routine is followed according to the skin type.
The benefits of skincare are the dullness of skins will be reduced and skin starts to glow. The different anti-aging symptoms like wrinkles and dry skin problems can be sorted. The appearance of pimples and dark spots will be slowed and skin tend to look healthy which also give confidence people.
The Covid-19 pandemic has shown a negative impact on the growth of global skincare industry. Due to the lockdown limitations in different nations around the world, organizations are facing difficulties in physically meeting their channel accomplices and closing their agreements. This is affecting the organizations' item incomes. Furthermore, factors like the closure of beauty retail stores and cosmetic organizations and the lack of raw material because of the lockdown limitations may generally hamper the item utilization rate among the populace around the world.
However, to avoid getting contaminated by the Covid, individuals like to invest their energy inside. This will shift the customer behaviour towards personal care, health, and beauty at indoor spots, thereby fuelling the interest for skincare among private buyers.
Some of the key players for global skin care market are
The global skincare market is segmented into on the basis of product, distribution, gender, and region & country level. On the basis of product, the global skincare market is segmented into cleansers and toners face moisturizers, body care, serum and others. On the basis of distribution, the global skincare market is segmented into supermarkets & hypermarkets, convenience stores, pharmacy & drug store, online and others. On the basis of gender, the global skincare market is segmented into male, female and infant.
On November 22nd, 2021; ByondXR announced the launch of the Virtual Lancer Dermatology Shop. It was the first-ever for a prestige skincare brand in the U.S. Led by world renowned celebrity dermatologist Dr. Harold Lancer. The home benefits of Lancer Dermatology provided by Lancer Skincare's new virtual store. The Lancer Skincare is innovative, agile and inclusive, and this new experience is aimed at inspiring and engaging customers in customizing their skincare regimen.
One of the major factors driving the growth of the global skin care market is increasing awareness regarding the personal grooming. Rising concerns regarding the skin nourishment because of many factors like the expanding occurrence of dark spots, acne, dullness, scars, and tanning have expanded the demand for skin nourishment items. Skin brightening items, scrubs, and toners are seeing more popularity from the more youthful populace, while items that give the solution for wrinkles or cracked heels are acquiring significant traction attributable to its rising demand from the matured populace. Changing way of life and spending patterns of shoppers on premium beauty care items are projected to help the overall development of the market.
In addition to that, rising number of skin diseases are also supplementing the demand of skin care products. The prevalence of different skin issues like acne, eczema, skin cancer, psoriasis and seborrheic dermatitis are increasing due to lifestyle changes and harsh environmental factors. The increased number of skin diseases in turn increase the demand for skin care products. For example; according to the World Health Organization (WHO), in 2018, skin diseases were among the most common of all human health afflictions and affected around 900 million people in the world.
Furthermore, increased use of Wi-Fi coupled with rising trend of online shopping area also fostering the market growth. There is an increased trend of online shopping because people are using Wi-Fi, internet in more amount. The social media influencers give information of skin care products which boost the demand of skin care products. The ready information about products which is available online made customers to shop online instead of going outside boosted the growth of the skin care products in the forecast period.
Moreover, increasing number of working women and their spending power on skin care products, as well as increased urbanization are also augmenting the growth of the global skin care market. However, the ban on animal testing and expensive prices of skin care products may hamper the global skin care market growth. In spite of that, growing investment in research & development of products can provide various opportunities for the further growth of the global skin care market.
North America is expected to dominate the market of global skin care due to the increasing number of skin diseases, early adoption of new products and presence of key players in this region. One of the major factors driving the growth of skin care market in North America is increasing a number skin disease which increases the adoption of skin care products for treating them. For instance; according to American Association of Dermatology Association (AAD), acne is the most common skin condition in the United States, affecting up to 50 million Americans annually. Growing investments in research and development and launching new products are also fostering the market growth.
For example; on 9th January 2020; L’Oréal launched Perso, an AI-powered at-home system for skincare and cosmetics. Moreover, increasing endorsements through social media and advertisement helping to grow the market in the North America region.
Asia-Pacific is expected to witness a fastest growth on the global skin care market due to increasing working population, rising disposable income and growing demand for skincare products in this region.
|2015 - 2020
|2021 - 2027
|Market Size in 2020:
|USD 132.64 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2027:
|USD 198.13 Billion
|Tables, Charts & Figures:
|Skin Care Companies
|L’Oréal Professional, Estée Lauder Companies Inc., Avon Products, Inc., Coty Inc., Revlon Consumer Products Corporation, Shiseido Company Limited, Unilever N.V., Procter & Gamble Company, Beiersdorf AG, and Johnson and Johnson and others
|By Product, By Distribution, By Gender
|North America, U.S., Canada, , Europe, Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe, Asia-Pacific, South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC, Latin America, Mexico, Colombia, Brazil, Argentina, Peru, Rest of South America, Middle East and Africa, Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA
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