The skin care products based on the algal ingredients work better for skin, lips and also enhance beauty naturally due to the inherent benefits of natural and pure algal ingredients. The algal skin care products come in different forms for different purposes and are categorized on the basis of face cream & moisturizer, serum, cleanser, toner, face mask, face wash, scrub, anti-aging cream, and others. The anti-aging cream made of algal ingredients is expected to experience a high growth during the forecast period owing to a rise in geriatric population and change in people's perception of being younger, and an increase in consciousness to look younger with a strong emphasis on facial skin. It has been noted that people have begun to use skin care items from a very early age to avoid the symptoms of ageing. As a result, the customer base for these goods has now widened to include younger consumers as well. The market has experienced a significant growth, and is expected to grow considerably in next few years owing to the rise in interest in natural, healthy, and organic beauty products.
COVID-19 Scenario Analysis
The COVID-19 outbreak has affected the consumer buying behavior. Covid-19 has been proved beneficial for the growth in demand for food, medical and necessity products. On the other hand, it has hampered the supply and demand for beauty and skin care products. The beauty and skin care industry has shown decline during the pandemic, however, the impact on algal skincare products is not as serious as it is among other industries. The supply chain and production have been hampered due to lockdown and restrictions on movement of goods and laborers across countries. The consumer buying behavior may change permanently in the post COVID-19 scenario. Companies have to build robust sales plan for recovery and build branded content and awareness campaigns to gain leads. They might have to adopt e-commerce platform and omnichannel in their supply chain.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The increase in demand for algal skin care products can be attributed to the wide variety of offerings and easy access to those products in the market which include facial mask, serum, moisturizers, skin toner, CC cream, BB cream, scrub, anti-aging cream, face wash, and acne cream among others. Range of products is sold in the market to satisfy the diverse consumer need.
The urge of millenials to look attractive has also surged the demand for algal skin care lotions and creams containing algae ingredients. The hectic schedule and busy lifestyle has further propelled the market growth for algal skin care products. With the rise in stress and hectic working life, people have increased the demand for skin care products based on natural ingredients alike algae that help to alleviate marks of tension and stress from the face and add shine or glow to the skin.
The increase in disposable income is also one of the major growth drivers for the algal skin care market. Consumers now spend more than before on facial care and beauty products made from organic and natural algal in order to have appealing personality.
The Global Algal Skin Care Product Market Trends
Expansion of Business
Leading market players in algal skin care product market have expanded their markets in developing countries to reach to increase their customer base. For instance, in January 2019 Laboratories Gilbert in collaboration with Gilbert Jain Laboratory Pvt. Ltd. introduced its Algotherm brand to India. Algotherm is a skin care brand from France whose product is based on natural marine algal ingredients.
Key Benefits of the Report
- This study presents the analytical depiction of the global algal skincare products market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global algal skincare products market share.
- The current market is quantitatively analyzed to highlight the growth scenario of the global algal skincare products market.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers in the market.
- The report provides a detailed global algal skincare products market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Algal Skincare Products Market Research Report
- Which are the leading players active in the algal skincare products market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Algal Skincare Products Market Report Highlights
| Aspects | Details |
 By Type |
|
 By Application |
|
 By Distribution Channel |
|
 By Region |
|
 Key Market Players | AlgEternal Technologies, Estee Lauder, L’Oréal Paris, Algenist, Greenaltech, Bliss, Marevitae, Kiro, Amorepacific Corp., Gallinee |
Loading Table Of Content...
