Global skin care products market would reach $179 billion by 2022 from $130 billion in 2015; growing at a CAGR of 4.7% from 2016 to 2022. Skin care products comprise chemical compounds, medicinal herbs, or natural ingredients applied on the skin to maintain the texture of the skin; avoid early aging, black patches, and pimples; and enhance beauty. The skin care products are categorized into two broad segments-face care products and body care products. The face care product segment includes skin brightening creams, sunscreens, face moisturizers, fairness creams, anti-aging creams, serums, toners, nourishment creams, and under eye creams. Some of the major products of body care products, include massage oils, body scrubs, and creams.
The global skin care products market is segmented based on product type and geography. Based on the product type, the market is further bifurcated into face cream and body lotion. The face cream segment occupied dominant share in 2015 and is expected to maintain this trend during the forecast period. In this segment, the anti-aging cream and skin brightening creams held the major share of the global skin care products market.
Geographically, the global skin care products market is segmented into North America, Europe, Asia-Pacific, and LAMEA. In 2015, Asia-Pacific generated the highest revenue, followed by North America; and is expected to dominate during the forecast period.
Top Factors Impacting of the Global Skin Care Product Market
Rising awareness towards skin care with advanced skin care products
Increasing awareness towards one’s beauty and overall appearance is driving the demand of skin care products. The demand is further supported by increasing disposable income of the consumers. Organic skin care products are gaining widespread popularity worldwide, owing to the rising awareness of the probable side effects of chemical based skin care products. Further, with the increasing marketing efforts of the players and growing online market, consumers across the globe are able to gain access to advanced skin care products, thereby, supplementing the market growth.
TOP IMPACTING FACTORS
Increasing demand of skin care products
Skin care products such as moisturizers, lotions, skin brightening creams, toners, serums, sunscreens, body lotions, and body oils are widely used by customers of all age groups to maintain a healthy and glowing skin. These products target different skin areas and problems such as blemishes, acne, blemished and black patches, sunburns, pigmentation, and early ageing among others. Regular use of skin care products prevents skin problems and helps in attaining healthy skin. With rising pollution levels, global warming, and hectic lifestyle leading to growing stress levels, there is an ever-increasing need for such products to protect the skin and prevent damages, thus, driving the demand of skin care products.
Top Winning Strategies
Merger and acquisition is the key growth strategy adopted by the market players, followed by product launch, partnership & agreement, and geographical expansion.
Top Winning Strategies, (2013-2016)
The report provides a comprehensive analysis of major market players that include Johnson & Johnson Services, Inc., 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 to highlight the top winning strategies.
- This report provides the quantitative analysis of the current market and estimations through 2014-2022, which identifies the prevailing market opportunities.
- This report provides an extensive analysis of the current and emerging market trends and dynamics in the global skin care product market.
- This study evaluates competitive landscape and value chain to understand the market behavior across the geographies.
- Geographically, the market is analyzed based on various regions, such as North America, Europe, Asia-Pacific, and LAMEA.
- An in-depth analysis of current research and clinical developments within global skin care product market is provided with key market dynamic factors that predicts the behavior of the market.
- Exhaustive analysis of the market type helps understand the type of global skin care product used currently along with the variants that would gain prominence in the future.
- Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
Skin Care Products Market Key Segment
- Face Cream
- Skin Brightening Cream
- Anti-Aging Cream
- Sun Protection
- Body Lotion
- Mass Market Body Care Lotion
- Premium Body Care Lotion
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
- Johnson & Johnson Services, Inc.
- The Estée Lauder Companies Inc.
- Unilever PLC
- Avon Products Inc.
- L'Oréal S.A.
- Kao Corporation
- Colgate-Palmolive Company
- Shiseido Company
- Beiersdorf AG
- Procter & Gamble