Global Luxury Skincare Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Luxury Skincare Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Luxury Skincare often uses cutting-edge science and robust clinical testing that mass brands can't afford, and uses high-end ingredients to penetrate and repair the skin. They are generally costly because the most effective ingredients such as squalane, glycerin, rice protein, etc. are contained in exclusive laboratories. Luxury Skincare excels in ingredients, packaging, and results while satisfying consumers' sensory, emotional, and fantasy needs.

Market Overview:

The latest research study on the global Luxury Skincare market finds that the global Luxury Skincare market reached a value of USD 21767.45 million in 2022. It’s expected that the market will achieve USD 35797.48 million by 2028, exhibiting a CAGR of 8.64% during the forecast period.

Growing consumer demand for natural and organic ingredients

One of the key drivers of growth in the luxury skincare market is the increasing consumer demand for natural and organic ingredients. Consumers are becoming more aware of the impact that their skincare products have on their skin and their health, and they are seeking out products that are made with natural and organic ingredients. This trend is driven by the belief that using natural and organic ingredients in skincare products can lead to better skin health and a more youthful appearance.
Additionally, consumers are also avoiding products that contain harmful chemicals, such as parabens, sulfates, and phthalates, which can cause skin irritation and other health problems. To meet this growing consumer demand, luxury skincare brands are developing products that are made with high-quality natural and organic ingredients.

Increasing focus on self-care and wellness

The increasing focus on self-care and wellness is another key driver of growth in the luxury skincare market. As people become more interested in taking care of their health and well-being, they are seeking out products that can help them to do so.
This trend is driven by the belief that taking care of one's skin is an important aspect of self-care and wellness. Consumers are looking for products that can help them to improve their skin's health and appearance, and they are willing to pay more for premium products that offer advanced formulas and unique benefits. In addition, the increasing popularity of spa treatments and other self-care practices is also driving growth in the luxury skincare market.

Rising popularity of anti-aging skincare products

The rising popularity of anti-aging skincare products is another key driver of growth in the luxury skincare market. As people become more concerned about the effects of aging on their skin, they are seeking out products that can help to reduce the appearance of fine lines and wrinkles and improve their skin's overall appearance.
This trend is driven by the belief that using anti-aging skincare products can help to delay the signs of aging and maintain a youthful appearance. Consumers are looking for premium products that offer advanced formulas and unique benefits, and they are willing to pay more for these products. To meet this growing demand, luxury skincare brands are developing anti-aging skincare products that are designed to target specific signs of aging and improve skin health.

Region Overview:

In 2021, the share of the Luxury Skincare market in North America stood at 36.83%.

Company Overview:

Estee Lauder Companies, Chanel, LVMH were the top 3 players in the Luxury Skincare market in 2022, taking up a market share of 18.66% together.

Segmentation Overview:

Among different product types, Serums segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the For Women segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Luxury Skincare market covered in Chapter 3:

Shiseido
L'Oréal
Henkel
Sisley Paris
Coty
Chanel
Kose
Estee Lauder Companies
Avon
Beiersdorf
Unilever
P&G
Natura Bissé
LVMH
AmorePacific

In Chapter 4 and Chapter 14.2, on the basis of types, the Luxury Skincare market from 2018 to 2029 is primarily split into:

Creams
Moisturizers
Facial Mask
Serums
Body Milk
Cleansers

Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Luxury Skincare market from 2018 to 2029 covers:

For Women
For Men

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)