Skincare Market Size, Competitive Landscape, Regional Analysis, Distribution Channel, Packaging Formats and Forecast, 2016-2026
Summary
The global skincare sector was valued at $136.9 billion in 2021 and is forecast to generate a CAGR of 4.6% over 2021-2026, to reach $171.6 billion by 2026. In volume terms, the sector is predicted to grow from 17.9 billion units in 2021 to 19.9 billion units in 2026, at a CAGR of 2.2%. Asia-Pacific represented the largest region for the global skincare sector in 2021, with a value share of 56.1%, followed by the Americas and Western Europe, which accounted for 19.3% and 18% shares, respectively. Among all the regions, Eastern Europe is forecast to record the highest growth rates at 6.6%, during 2021-2026. In 2021, the facial care category held the highest value and volume shares with 81.4% and 70.4%, respectively. The facial care category is also set to be the fastest-growing category, with a projected value CAGR of 5.2%, during 2021-2026. In the global skincare market, the top five companies accounted for a combined value share of 29.4% in 2021. L'Oréal S.A. was the leading company with a value share of 10.6%, followed by Beiersdorf Ag (5.1%), Unilever (5%), Procter & Gamble (4.4%), and The Estée Lauder Companies Inc. (4.3%). In 2021, L'Oréal S.A. led the companies list in all the regions except Middle East & Africa where, Beiersdorf Ag held the largest market share.
Consumers today have become highly selective while purchasing skincare products, owing to health and environment considerations. Subsequently, there is a growing desire for skincare products with claims like, cruelty-free, sustainable, or chemical-free. Encouraged by this, manufacturers are launching products with claims of natural/organic, sustainable, and free from artificial preservatives. With the growing awareness about harmful effects of chemical ingredients, consumers are becoming very cautious and are paying higher attention towards the ingredients used in skincare products. They are constantly seeking products with natural, organic, and chemical-free ingredients. Manufacturers, as a result, are increasingly omitting synthetic ingredients from their formulations in order to increase their products’ natural appeal.
This report brings together multiple data sources to provide a comprehensive overview of the global skincare sector. It includes analysis on the following -
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