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Skincare Market Segmentation by Product (Creams, Lotions, Powders, Sprays, and Others); By Packaging (Tube, Bottle, Jar, and Others); By Gender (Male and Female); By Distribution Channel (Cosmetic Stores, Supermarkets/ Hypermarkets, Online Channels, and Others) - Demand Analysis & Opportunity Outlook 2027

Published: January, 2022
ID: 12475
Pages: 175
Formats: report pdf report excel report power bi report ppt

Skin Care Market Size & Values 2022-2027:

The Skin Care Market is expected to increase at a CAGR of 7.12% from $148.31 billion in 2022 to $204.6 billion in 2027. The market is predicted to benefit from increased demand for face creams, sunscreens, and body lotions throughout the forecast period. Furthermore, market growth is expected to be aided by the increasing e-commerce sector. Demand for skin care products has increased as a result of technological and product advancements.

Creams, lotions, and powders are types of skincare products that improve the quality and health of the skin while also providing sustenance. Many women and men use these products regularly for a variety of reasons, including moisturising, hydrating, and cleansing. Organic and herbal skincare has been increasingly popular in recent years. This is because people are aware of synthetic chemicals' negative effects on the skin. Ingredients originating from natural sources, such as leaf and root extracts, are safe to use on the skin because they have no negative effects.

Market Drivers:

The need for skin nutrition solutions has grown as a result of increased concerns about skin nourishing brought on by several disorders such as acne, black spots, scars, dullness, and tanning. The younger generation is more interested in skin-brightening treatments, toners, and scrubs, while the elder generation is more interested in wrinkle creams and cracked heels. Consumer buying habits for high-end cosmetic products are projected to shift, bolstering the market's overall growth. Furthermore, as people become increasingly aware of the detrimental effects of prolonged sun exposure, demand for sunscreen lotions and creams is increasing.

Furthermore, increased consumer knowledge of skincare products has been boosted by increased awareness of grooming goods for men, significant advertising campaigns by manufacturers, and the digitization trend. As a result of these circumstances, male end customers have raised their desire for products like fairness creams and aftershave creams.

Consumers are now putting more emphasis on their health by using skin nourishing products, and they are also more inclined to utilise environmentally friendly products. Furthermore, firms are concentrating on lowering their carbon footprint by implementing new production technologies that consume less energy and resources. Furthermore, recyclable or refillable product packaging that is innovative and eco-friendly is in high demand. Furthermore, as public awareness of animal rights grows, consumers' preferences are shifting toward vegan components made completely of plant-based goods. As a result, market participants are working on developing vegan products to attract more customers and enhance income.

Market Restraints:

Regular use of cosmetic products for an extended period can harm the skin, causing irritation, redness, burning sensations, discolouration, and skin cell ageing. Some skin-nourishing products are tailored to particular skin types, such as dry or oily skin. Consumers, on the other hand, tend to buy products based on the brand name and neglect other product features, which can harm their skin. Furthermore, due to specific components that are not good for the individual, a few products might cause allergic responses and the development of pimples. Excessive use can potentially lead to serious problems, such as skin cancer and melanoma. As a result, these are some of the most significant stumbling blocks to market expansion.

SKINCARE MARKET REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2022–2027

Base Year

2021

Forecast Period

2022 - 2027

CAGR

7.12%

Segments Covered

By Product, By packaging, By gender 

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Unilever (England), Avon Products Inc (England), P&G (US), Estee Lauder Inc (US), Johnson & Johnson (US), Beiersdorf AG (Germany), Shiseido Co Ltd (Japan), Natura & Co (Brazil), Lakme (India).

Market Segmentation:

Skin Care Market By Product:

  • Creams
  • Lotions
  • Powders
  • Sprays
  • Others

Creams are projected to account for a significant portion of the market. They're used for moisturising, brightening, tan removal, acne treatment, oil reduction, dark circle removal, sleep cream, and sun protection, among other things.

Consumers make considerable use of powders. Powders are available in a variety of forms, depending on the type of skin condition you have, such as rashes or allergies. Due to its use for skin treatment to remove blackheads, and acne, and play a functional role in removing skin irritation, the powder segment is expected to hold a significant share.

Lotions also serve an important function in nourishing the skin and preventing sunburns and tanning, and as a result, they have grown in popularity among consumers.

Skin Care Market By Packaging:

  • Tube
  • Bottle
  • Jar
  • Others

Tubes are easy to handle and use, and because they are compact, they are predicted to have a large market share. They are portable because they are light, take up less space than bottles, and allow for easier product application than jars and bottles. When the lid of a jar is opened, the contents of the jar are regularly exposed to air and light, which can lead to contamination or degradation of active chemicals utilised in the product, which is not the case with tubes. Bottles are best used for liquid items like toners, oils, and serums. Whereas the tube can be utilised for the majority of items, and it is more hygienic and safe to use the tube for products.

The bottle packaging sector is expected to earn a significant market share in the skincare market. The makers put a lot of effort into creating unique, appealing lotion and serum bottles that are biodegradable and recyclable. The bottle packaging is durable, which extends the shelf life of the product being stored.

The jars are also commonly used to package cosmetics, and they come in a variety of forms and sizes. They're either constructed of glass or plastic and hold enough lotions and serums to last a long time.

Skin Care Market By Gender

  • Female
  • Male

The female population is more aware of the market's available products for various uses, which is driving up product demand. However, reasons such as shifting consumer trends, increased knowledge of grooming, skincare, and the desire to improve one's appearance among males have led to the creation and launch of new products.

The male segment is projected to hold a substantial proportion due to greater knowledge of personal grooming and health care. As a result of the rising interest in facial cosmetics, the market for such things has developed. This is because physical appearance has become increasingly significant in the lives of modern males. As a result, the skin care business now has more chances for expansion.

Skin Care Market Distribution Channel:

  • Online Channels
  • Cosmetic Stores
  • Others

Cosmetic stores are speciality stores where all cosmetic products are available and clients may physically inspect product specifics. These establishments supply customers with personalised kits featuring a variety of cosmetic products that are packaged together and sold at a discounted price to attract customers. Cosmetic boutiques, as opposed to hypermarkets and supermarkets, have greater availability of newly introduced and latest products. Additionally, attendants in cosmetic stores are taught to assist customers in purchasing specific goods based on their needs. As a result, these elements are likely to improve the cosmetic store segment's growth.

Supermarkets/hypermarkets are likely to account for a substantial percentage of the market due to the huge availability of several categories of personal care items under one roof. The convenience and ease with which such products may be obtained from supermarkets/hypermarkets are expected to drive sector expansion.

Online channels play a crucial role in the segment's growth because of the extensive availability of branded skin support goods on online shopping sites such as Myntra, Amazon, Flipkart, and others. The products are widely available at reduced costs on a range of buying platforms, and they are subject to cashback and easy return policies, which are helping to drive the segment's growth.

Regional Analysis:

  • North America
  • Europe 
  • Asia Pacific
  • Latin America 
  • The Middle East and Africa 

The Asia Pacific is anticipated to hold a significant share due to rising living standards, a growing working-class population, and increased spending power of the population in the region. Furthermore, changing lifestyles and rising disposable income in countries such as China, India, Japan, and others have led to increased spending on well-being and personal care goods, boosting product demand. Furthermore, increased knowledge of skin-nourishing products as a consequence of increased access to a varied range of brands is expected to propel the Asia Pacific skincare sector to new heights.

In the global market, Europe is predicted to have a sizable share. European men and women are more concerned with their appearance and hence devote more time and effort to improve their skin's overall quality. Furthermore, the region's population has more purchasing power, which, combined with the strong presence of important market competitors, is encouraging market growth.

Recent Developments:

The Luxe Division of L'Oréal New Zealand has entrusted its portfolio of luxury brands to creative agency FEDERATION. Among the companies interested in the acquisition are Lancôme and Kiehl's. Yves Saint Laurent, Georgio Armani, Urban Decay, Viktor&Rolf, Valentino, Diesel, Prada, and many others have all been represented by the independent agency since 1851. The appointment of FEDERATION to the Consumer Products Division brands of L'Oréal Paris, Maybelline New York, Garnier, and Essie adds significantly to FEDERATION's appointment to the Consumer Products Division brands of L'Oréal Paris, Maybelline New York, Garnier, and Essie. Unilever Plc has agreed to sell its global tea business to CVC Capital Partners for 4.5 billion euros ($5.1 billion), capping a two-year evaluation and spin-off process. Ekaterina, the company being sold, has 34 tea brands under its umbrella, including Lipton, PG Tips, Pukka Herbs, and TAZO, and is estimated to earn 2 billion euros in revenue by 2020.

Procter & Gamble is issuing a voluntary recall of select aerosol spray antiperspirants after the detection of the cancer-causing ingredient Benzene in certain formulations. The recall includes Old Spice and Secret aerosol spray antiperspirants, as well as Old Spice Below Deck aerosol spray products with expiration dates until September 2023.

Key Players:

  1. Unilever (England)
  2. Avon Products Inc (England)
  3. P&G (US)
  4. Estee Lauder Inc (US)
  5. Johnson & Johnson (US)
  6. Beiersdorf AG (Germany)
  7. Shiseido Co Ltd (Japan)
  8. Natura & Co (Brazil)
  9. Lakme (India)
  10. VLCC (India)

Impact of COVID-19 Skin Care Market:

Due to shutdown restrictions in numerous countries throughout the world, businesses are having problems physically visiting their channel partners and finalising business arrangements. As a result, the companies' product revenues are being harmed. Furthermore, difficulties such as the closure of beauty retail outlets and cosmetic firms, as well as a scarcity of raw material supply as a result of the stringent limitations, may considerably slow global product consumption.

People, on the other hand, prefer to stay inside to avoid becoming infected with the coronavirus. This will result in a shift in consumer behaviour toward personal care, wellbeing, and attractiveness in interior surroundings, leading to an increase in skincare demand among residential customers.

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