Skin Care Products Market - Trends Forecast Till 2028

Market Overview

The global skin care products market size was valued at USD 129.23 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.8% from 2021 to 2028.

Skincare products are a range of products that support skin integrity, enhancing appearance, and relieve skin conditions. These are applied to the skin to avoid symptoms of early aging, pimples, and black patches.

Escalating demand for face creams, sunscreens, and body lotions across the globe are some of the factors that have supported long-term expansion for Skin Care Products Market.

The COVID-19 pandemic influenced consumers’ spending habits and purchase decisions, leading to a slight decline in the market growth by 1.12% in 2020, owing to various governments imposing multiple measures intended to slow down the spread of COVID-19.

Regional Analysis

Asia Pacific held the largest share of over 35.0% in 2020 and is expected to witness the fastest growth over the forecast period. The expansion of the chemical industry in India and China, both of which are backed by regulatory support, is expected to ensure continuous raw material access to skin care product manufacturers. This is expected to be a positive factor for the market growth in Asia Pacific over the forecast period.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• L’Oreal S.A.
• Beiersdorf AG
• Shiseido Co., Ltd.
• Procter & Gamble (P&G)
• Unilever
• Johnson & Johnson Services, Inc.
• Avon Products, Inc.
• Coty Inc.
• Colgate-Palmolive Company
• Revlon

Recent Developments

• In 2021, Beiersdorf launched Personalized Face Care New Brand O.W.N. Only What’s Needed” – O.W.N only uses ingredients specially formulated for individualized skincare needs.
• In 2020, L’Oréal SA acquired Thayers Natural Remedies, a US-based natural skincare brand from Henry Thayer Company. The brand is expected to be integrated into L’Oréal’s consumer products division.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Skin Care Products Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope