Skin Care Products Market Size, Share & Trends Analysis Report By Product (Face Creams & Moisturizers, Shaving Lotions & Creams), By Gender, By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2030

Skin Care Products Market Size, Share & Trends Analysis Report By Product (Face Creams & Moisturizers, Shaving Lotions & Creams), By Gender, By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2030

Skin Care Products Market Growth & Trends

The global skin care products market size is expected to reach USD 196.20 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.6% from 2022 to 2030. The rising concerns over skin problems are driving the skincare products industry. The growing demand for concern-specific skincare products such as face creams, body lotions, shaving lotions and creams, and face sunscreens is likely to fuel the overall demand.

Rising awareness regarding the various benefits of using skincare products has resulted in a rise in their demand over the last few years. Moreover, an inclination toward natural and organic skincare products is observed, making it a major sector in the cosmetics and wellness industry. Organic products are derived from natural resources and are free from harmful chemicals.

The female gender segment accounted for the largest revenue share in 2021 and is expected to maintain its lead over the forecast period. Women are increasingly adding personal grooming products to their daily routines to enhance their confidence and appearance. The increased demand for face creams, sunscreens, and body lotions across the globe is expected to have a positive impact on the market.

The supermarkets and hypermarkets segment held the largest revenue share in 2021. A large number of consumers prefer buying skincare products from hypermarkets and supermarkets due to the shopping experience offered by these stores. The ability to physically verify these products, along with expert assistance, is significantly contributing to the channel’s growth. The market is consolidated in nature with the presence of a large number of international players and few regional players.

Skin Care Products Market Report Highlights

• Asia Pacific held the largest revenue share in 2021 owing to the increasing consumption of skincare and cosmetic products in the emerging markets of China and India. A rise in the number of product launches, growing concerns over skin health, and skin conditions are likely to positively influence the market growth
• By product, the face creams and moisturizers segment captured the largest revenue share in 2021 owing to the increasing popularity of these products globally, as people are becoming more conscious of their physical appearance along with being concerned about skin disorders and malignancies of the skin
• The male gender segment is anticipated to expand at the fastest CAGR of 5.0% over the forecast period owing to the significant growth in awareness regarding skincare among the global male population
• The supermarkets and hypermarkets distribution channel segment held the largest revenue share in 2021 owing to a shift in consumer shopping behavior. Due to the increasing demand for cosmetic products and rising shelf space, many of these stores have trained professionals in the cosmetics and beauty aisles to provide customers with expert guidance and recommendations