Skin Care Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Skin Care Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global skin care products market size reached US$ 152.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 200.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.8% during 2023-2028.

Skin care products are used to treat and enhance the overall health and appearance of skin and provide nourishment. They include cleansers, scrubs, toners, body lotions, moisturizers, face washes, and creams, and oils and serums that are formulated using various chemical and natural ingredients, such as hyaluronic acid, alpha-hydroxy acids, retinol, bentonite clay, aloe vera, and tea tree oil. They assist in removing dead skin cells, retaining elasticity, and preventing wrinkles, fine lines, and age spots. They also protect from harmful ultraviolet (UV) rays and avoid sun damage, blemishes, tanning, and hyperpigmentation. Besides this, as they help protect individuals from harmful bacteria and allergens and make skin healthier, the demand for skin care products is increasing around the world.

Skin Care Products Market Trends:
The growing global working population and the rising awareness among individuals about their physical appearance represent one of the key factors positively influencing the market. In addition, rapid urbanization, inflating disposable income levels, and shifting spending patterns of individuals are other factors contributing to the market growth. Apart from this, the rising pollution level and surging occurrence of skin disorders, such as cancer, allergies, and infection, are catalyzing the demand for skin care products across the globe. Furthermore, increasing consciousness among the masses about the benefits of using herbal and organic product variants is offering lucrative growth opportunities to manufacturers. Moreover, leading market players are focusing on promotional activities, such as celebrity endorsement and advertisement on social media platforms and televisions (TVs), to expand their market reach.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global skin care products market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type, ingredient, gender, and distribution channel.

Breakup by Product Type:

Face Cream
Skin Brightening Cream
Anti-Aging Cream
Sun Protection Cream
Body Lotion
Mass Body Care
Premium Body Care
Others

Face cream accounts for the majority of the market share due to the increasing consciousness among the masses on account of the rising prevalence of skin disorders and malignancies.

Breakup by Ingredient:

Chemical
Natural

Chemically formulated skin care products exhibit a clear dominance in the market as they provide an appealing fragrance and can be preserved for an extended period.

Breakup by Gender:

Male
Female
Unisex

The female segment holds the largest market share as women are more concerned about enhancing their physical appearance and personal hygiene.

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Beauty Parlours and Salons
Multi Branded Retail Stores
Online
Exclusive Retail Stores
Others

Exclusive retail stores currently dominate the market as they offer a wide range of products and are significantly expanding across the globe.

Breakup by Region:

Europe
North America
Asia Pacific
Middle East and Africa
Latin America

The Asia Pacific exhibits a clear dominance in the market due to the growing population, improving standards of living, and the increasing expenditure capacity of individuals in the region.

Competitive Landscape:
The report has also analyzed the competitive landscape of the market with some of the key players being Johnson & Johnson Services, Inc., The Estée Lauder Companies., Unilever PLC/NV, New Avon Company, L’OREAL S.A., Kao Group, Colgate-Palmolive Company, Shiseido Co., Ltd., Beiersdorf AG, The Procter & Gamble Company, and Revlon Consumer Products Corporation.

Key Questions Answered in This Report

1. What was the size of the global skin care products market in 2022?
2. What is the expected growth rate of the global skin care products market during 2023-2028?
3. What are the key factors driving the global skin care products market?
4. What has been the impact of COVID-19 on the global skin care products market?
5. What is the breakup of the global skin care products market based on the product type?
6. What is the breakup of the global skin care products market based on the ingredient?
7. What is the breakup of the global skin care products market based on the gender?
8. What is the breakup of the global skin care products market based on the distribution channel?
9. What are the key regions in the global skin care products market?
10. Who are the key players/companies in the global skin care products market?