Global Body Care Market - 2023-2030

Global Body Care Market - 2023-2030

Market Overview

The global body care market reached US$ XX million in 2022 and is projected to record significant growth by reaching up to US$ XX million by 2030 and growing at a CAGR of 4.8% during the forecast period (2023-2030).

Body care refers to the routine maintenance and upkeep of the body, particularly the skin, nails and hair. This can include cleaning, moisturizing, exfoliating and protecting the skin from the sun and other environmental factors. It can also include caring for the nails and hair by trimming, styling and conditioning. The goal of body care is to maintain a healthy and attractive appearance, as well as to promote overall well-being.

Market Dynamics

The global body care market is a rapidly growing industry driven by increasing consumer demand for personal care and grooming products. Increasing awareness of personal grooming among all ages is a major driver of the growth of the global body care market. As consumer’s become more aware of the importance of personal hygiene and the role of body care products in maintaining good health, they are more likely to use these products regularly.

The rise in social media usage has also increased awareness of personal grooming. Social media platforms have made it easier for people to share information and trends about personal grooming and beauty, which has led to a greater awareness of the importance of personal grooming among all ages.

Rising demand for natural and organic products drives the growth of the global market

Rising demand for natural and organic products is a major driver of the growth of the global body care market. Consumers are becoming more conscious of the ingredients in their products and are increasingly looking for natural and organic products that are free from harmful chemicals. As consumers become more aware of the potential health risks associated with synthetic ingredients, they are turning to natural and organic body care products as safer alternatives. This includes products made with natural and organic ingredients such as essential oils, herbs and botanicals.

Many consumers believe that natural and organic body care products are better for their health and the environment and are willing to pay a premium. This has led to a rise in demand for natural and organic body care products, as more companies are developing and marketing these products to meet the changing consumer needs.

In addition, many people are looking for body care products that are good for their skin and the environment. Natural and organic body care products are often made with biodegradable and eco-friendly ingredients, which is a growing concern among consumers. Furthermore, the global body care market is driving due to the demand for organic and natural body care products.

Increasing competition from private-label brands hampers the market growth

Increasing competition from private-label brands can hamper the growth of the global body care market. Private label brands are often able to sell their products at lower prices than branded products, as they do not have the same marketing and advertising costs. This can pressure manufacturers to lower their prices to compete, leading to reduced profit margins. Therefore, increasing competition from private label brands can lead to price pressure and reduced profit margins for manufacturers.

As private label brands gain popularity, they can take market share away from established brands. This can lead to decreased sales and reduced revenue for manufacturers. With more private-label products available, consumers may be less loyal to specific brands, leading to a decline in brand loyalty and reduced brand equity. Therefore, increasing competition from private label brands can make it more difficult for manufacturers to differentiate their products and maintain profitability, hampering global body care market growth.

COVID-19 Impact Analysis

The pandemic has led to disruptions in global supply chains, with many manufacturers facing difficulties obtaining raw materials and components needed to produce body care products. With many people facing financial uncertainty and job loss due to the pandemic, consumer spending on non-essential items such as body care products has decreased.

Due to lockdowns and social distancing measures, production and manufacturing in many countries have been impacted, leading to shortages of some body care products. The pandemic has increased demand for hygiene and personal care products such as sanitizers and soaps, while demand for other body care products such as perfumes and makeup has decreased. The pandemic has shifted consumer behavior towards online shopping, as people avoid physical stores. Furthermore, the COVID-19 pandemic has significantly impacted the global body care market, with reduced consumer spending and supply chain disruptions leading to decreased sales and revenue for manufacturers.

Segment Analysis

The global body care market is segmented based on type, product, distribution channel and region.

Owing to its wide range of applications and benefits, skin care dominates the global body care market globally

The skin care product segment dominates the global body care market. There is a growing demand for skin care products globally as consumers become more aware of the importance of maintaining healthy skin. With more people becoming aware of the various skin problems such as acne, wrinkles and dryness, the demand for skin care products has increased. Technological advancements have allowed for development of new and more effective skin care products, such as anti-aging creams and serums.

Furthermore, skin care products have a wide range of applications and benefits. The growing demand for them, innovation, and personalization has made them the dominant global body care market segment.

Geographical Analysis

Owing to rapid growth in e-commerce activities in the region contributes to the expansion of the Asia-Pacific body care market

Companies in the region are investing heavily in marketing and advertising campaigns to increase brand awareness and drive sales. The region has seen significant growth in e-commerce, which has made it easier for consumers to purchase body care products. Countries such as India and China contribute the majority of the market shares in the Asia-Pacific. The growth of e-commerce has greatly contributed to the expansion of the Asia-Pacific body care market. Online marketplaces and retailers have made it easier for consumers to access a wide range of body care products, including those from international brands.

According to Invest India, the Indian cosmetics and personal care solutions industry is currently worth $26.8 billion and is anticipated to grow to $37.2 billion by 2025. The CAGR for fragrances, makeup, cosmetics and men's grooming is predicted to be between 12-16%. Due to rising usage, herbal cosmetics items are fueling growth and this market alone is predicted to increase by 15-20%. In India, the oral care market produced about $1.57 billion in revenue in 2021. With a CAGR of 6.6%, the Indian hair care industry is expected to reach $4.89 billion by 2025. The Hair Care segment had $2.55 billion in revenue in 2021. The hair oil segment has the greatest market share in India's cosmetics business and is accountable. Furthermore, the Asia-Pacific dominates the global body care market

Competitive Landscape

The global body care market is highly competitive, with many companies offering a wide range of products. Some of the major players in the market include Unilever, Procter & Gamble, L'Oréal, Johnson & Johnson and Beiersdorf. These major companies have a strong presence in the market and offer a wide range of body care products, such as soap, lotion and deodorant. In addition, many smaller companies and local brands compete in the market. The competition in the market is intense, with companies constantly innovating and launching new products to attract customers. The key players in the market are Procter & Gamble, Unilever, L'Oreal, Johnson & Johnson, Colgate-Palmolive, Estée Lauder, Beiersdorf AG, The Clorox Company, Henkel AG & Co. KGaA and Revlon Inc.

Procter & Gamble

Overview:Procter & Gamble (P&G) is a multinational consumer goods company headquartered in Cincinnati, Ohio, United States. The company was founded in 1837 by William Procter and James Gamble. More than 80 nations are home to P&G businesses. More than 160 nations sell its roughly 300 brands. P&G's product portfolio includes a wide range of consumer goods, including household cleaning, personal and health care products. The company has a global presence across North America, Asia, Central & Eastern Europe, Middle East and Africa (CEEMEA), Western Europe and Latin America.

Product Portfolio:

Facial Treatment Essence: The skin-conditioning product PITERA contains approximately 50 micronutrients, including vitamins, minerals, amino acids and natural acids. An effective treatment to improve visual radiance, even out the appearance of skin tone, significantly soften the texture and reduce the appearance of dryness-related fine lines and dark spots. The cream treats dark spots, pores, dullness and uneven texture. Normal, dry, combo and oily skin types benefit the most from it.

Key Development:On March 3, 2022, Bodewell was reintroduced by P&G ventures, a line of gentle and effective treatments designed specifically for eczema and psoriasis. Bodewell’s solutions treat problematic skin conditions like eczema and psoriasis. These solutions are gentle on sensitive skin and powerful in assisting the skin in regulating itself over time. As a consequence, symptoms are relieved and skin gradually appears brighter. Additionally, Bodewell offers eczema and psoriasis products that can aid with symptoms, including itching and irritation. They don't include scents, parabens or steroids. Bodewell also provides a Sensitive Skin Body Wash and a Dry Scalp Daily Shampoo.

Why Purchase the Report?
• To visualize the global body care market segmentation based on type, product, distribution channel and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the global body care market by analyzing trends and co-development.
• Excel data sheet with numerous data points of body care market-level with all segments.
• PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping available as excel consisting of key products of all the major market players.

The global body care market report would provide approximately 61 tables, 59 figures and 215 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies