Australia Skin Care Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Australia Skin Care Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Australia Skin Care Products Market is forecasted to reach USD 219.28 million by 2025 growing at a CAGR of 5.26% during the forecast period.

Key Highlights

• The presence of multiple stores of Sephora and Mecca Cosmetica across Sydney and Melbourne has exposed Australian consumers to international brands. Australian consumers are increasingly drawn toward the claims of these advanced products and the presence of active ingredients in them in the right concentration.
• Technological advancements are thought to be the major reason behind the growth of the professional skincare market. This is leading to consumer willingness to buy a wider range of complex-formulated and natural green products. The development of fusion and environment-friendliness has raised the demand in the industry.

Key Market TrendsGrowing Demand for Anti-Ageing Facial Care Products

The last four decades witnessed the country’s youth population falling from 31% to 22%. Meanwhile, the population whose age is over 65 years has risen from 8% in 1971 to 13%. A report by the Australian Government states that over the next 40 years, the population above 65 years is expected to grow two-fold to around 25%. The growth of the workforce population is expected to minimize severely to almost touch zero. Excluding an exceptional change in fertility rates, age structure in the population of Australia is expected to stabilize, with a growing proportion of older Australians. The large demographic of the aging population has led to the robust demand for anti-aging products, creating room for innovations in professional skincare, thereby, boosting the growth of the industry. The source of the graph provided is the Australian Institute of Health and Welfare.

Demand for Natural and Organic Skincare Products

Australia is one of the important and emerging market for organic and natural personal care products. Organic cosmetics, essential oils and other personal care products approximately account for 2% of the total organic cosmetics market in the country. Skin care, hair care and perfumes & fragrances are some of the important cosmetics in the organic market. The industry is observing pressure from the availability of raw materials, which is increasing the manufacturing costs thus forcing the industry to import. Skin care products such as lotions, body oils, scrubs, cleansers and facial masques are expected to have the highest market share followed by hair care and this is expected to continue for the next 4 years.

Competitive Landscape

The Australian skin care products market is highly fragmented, with some global as well as local players. The Global players, such as L'Oreal S.A., Procter & Gamble, Beiersdorf AG and Unilever, hold a prominent share. The mojor strategy the follow is product development followed by expansion of the company.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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