Australia Skin Care Market Forecast 2022-2028

Australia Skin Care Market Forecast 2022-2028

KEY FINDINGS

The Australia skin care market is set to project a CAGR of 4.29% during the forecast period, 2022-2028. The increasing strategic initiatives by market players and the growing prevalence of slow beauty movement propel market growth. For instance, in 2022, L’Occitane acquired a majority stake in the local brand Grown Alchemist. However, the inadequate regulatory hold is likely to hinder the market growth.

MARKET INSIGHTS

The slow beauty movement focuses on beauty rituals while using fewer but enhanced quality products. An increasing number of Australians are incorporating the slow beauty trend, since it aligns with sustainability and a mindful approach to beauty consumption. Also, local niche brands are launching hybrid products in response to the slow beauty movement trend. For instance, Lanolips’ products, like 101 Ointment Multipurpose Superbalm, help sustain its position in the market.

Further, sustainability is gaining increasing relevance in Australia, with skin care brands taking appropriate actions and initiatives. Also, several players are launching their own recycling programs for the packaging of their products and are collaborating with organizations like REDCycle and TerraCycle. Moreover, the pandemic-induced lockdown has emphasized skin care and skin health, which further offers lucrative growth opportunities.

COMPETITIVE INSIGHTS

Some of the leading firms in the market include Clarins Australia Pty Ltd, Johnson & Johnson Pacific Pty Ltd, Estée Lauder Pty Ltd, Beiersdorf Australia Ltd, Body Shop Pty Ltd, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments