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2018
Skin Care Products Market

Skin Care Products Market

by Product (Face Cream and Body Lotion) - Global Opportunity Analysis and Industry Forecast, 2014-2024
Update Available On-Demand

Report Code: A01515
Pages: 162
Jan 2018 | 39088 Views
Author(s) : Yash Doshi
Tables: 84
Charts: 47
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Skin Care Products Market Overview:

The Global Skin Care Products Market generated revenue of $136,304 million in 2016, and is expected to grow at a CAGR of 4.5% to reach $194,961 million by 2024. Skin care involves practices that support skin integrity, enhance its appearance, and cure skin conditions. This area includes nutrition, avoidance of excessive sun exposure, and appropriate use of emollients. The top impacting factors in the global skin care products market include change in lifestyle patterns in emerging countries due to rapid urbanization, rise in awareness towards advanced skin care products, increase in demand for skin care products, new product innovation, high investments in emerging countries, and others. However, limited shelf life of the skin care product poses limitations to the market growth.

The global skin care products market is segmented on the basis of product and geography. Based on product, the market is bifurcated into face cream and body lotion. Face cream includes skin brightening creams, antiaging creams, and sun protection creams. Body lotion includes mass market body care lotion and premium body care lotion. Geographically, the market is analyzed across North America, Europe Asia-Pacific, and LAMEA. The key players operating in the global skin care products market are Johnson & Johnson, The Estee Lauder Companies Inc., Unilever PLC, Avon Products Inc., L'Oréal S.A., Kao Corporation, Colgate-Palmolive Company, Shiseido Company, Beiersdorf AG, and Procter & Gamble.

Asia-Pacific was the highest revenue generator in the global skin care products market in 2016, whereas LAMEA is expected to be the fastest growing segment over the forecast period, owing to growth in awareness towards skin care through advanced skin care products and increase in wellness spending in the region. Africa is expected to be the fastest growing region in LAMEA. Rapid upsurge in population, a fast growing middle-class population, urbanization, and improved business regulation have made Africa the “next frontier” in cosmetics. Moreover, the major international players-L’Oreal, Procter & Gamble and Unilever-have developed expansion strategies to capture the skin care market in the continent.

In the market, the skin brightening creams possess high market attractiveness as this range includes products for men too. Antiaging creams and sun protection creams possess high potential in Asia-Pacific, owing to the growth in aging population compared to developed countries. This segment is projected to witness high growth in emerging countries. The body lotion segment is the second largest application in the global skin care products market.

Key Benefits

  • The study provides an in-depth analysis of the skin care products market with current and future trends to elucidate the imminent investment pockets.
  • It offers information regarding key drivers, restraints, and opportunities with a detailed impact analysis.
  • Porter’s Five Forces model analysis of the industry illustrates the potency of the buyers and suppliers.
  • Market player positioning provides a clear understanding of the position of leading companies.

Skin Care Products Market Report Highlights

Aspects Details
By Product Type
  • Face Cream
  • Body Lotion
By Geography
  • North America
    • U.S
    • Canada
    • Mexico
  • Europe
    • UK
    • Gerrmany
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa
Key Market Players AVON PRODUCTS INC., BEIERSDORF AG, COLGATE-PALMOLIVE COMPANY, JOHNSON & JOHNSON SERVICES, INC., KAO CORPORATION, L'ORÉAL S.A., PROCTER & GAMBLE, SHISEIDO COMPANY, THE ESTÉE LAUDER COMPANIES INC., UNILEVER PLC.
 

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The global skin care products market, which is in its growth stage and contribution to the global skin care products market, would increase significantly within the next six years. Increasing awareness towards skin care among customers has fueled the market. Moreover owing to the urbanization and modern lifestyle, the demand for skin care products has increased over the last decade, and is expected to increase during the forecast period.

High requirement for sun protection, antiaging, blemishes, wrinkles, fine lines, protection from pollution products has attracted several companies to invest in the skin care products industry. Some of the major innovations in the skin care product industry are sunscreen, skin brightening cream, antiaging cream, acne treatment, multi-beneficial skin care product, which further support growth of the market.

Geographically, the global skin care products market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the highest revenue contributor, valued at $53,641 million in 2016. This region is further expected to attain a market value of $74,385 million by 2024, growing at a CAGR of 4.1%.

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