Skin Care Products Market was valued at USD 115,386.46 Million in 2021 and is projected to reach USD 213,363.09 Million by 2028
It is expected to grow at a CAGR of 9.2% from 2021 to 2028. Skin care is an essential part of personal care. It includes everything from correction to prevention in the skin care process.
New York, April 21, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Skincare Products Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Product Type, Category , end user and distribution channel” – https://www.reportlinker.com/p06270042/?utm_source=GNW
Makeup with skin care benefits is prevailing in the market. Additionally, the increasing demand for face creams, sunscreens and body lotions across the globe is expected to have a positive impact on the growth of the skin care products market.
There is a growing popularity of daily skincare routines among the population due to social media influencers promoting their skincare routines. Globally, people are becoming more aware of their physical appearance and are more concerned about skin disorders and skin virulence.
A skin care routine helps the skin stay in good condition. Skin care products are used to treat basic skin problems ranging from acne to scars. There are various advancements in the ingredients used to deliver skin care products to consumers. The skin is one of the most damaged organs due to exposure to external factors such as ultraviolet (UV) rays and pollution. Consequently, there has been an increase in the tendency to engage in a regular skincare routine, making it an integral part of personal well-being. Thus, the rising trend of skin care routines is boosting the growth of the skin care products market over the forecast period.
On the basis of distribution channel, the skincare products market is segmented into supermarkets & hypermarkets, specialty stores, e-commerce retail and others. The supermarket and hypermarket segment accounted for the largest market share in 2020.
Supermarkets and hypermarkets are large retail establishments that offer a wide range of products, such as groceries, personal care products, and household items. Products of various brands are available at reasonable prices in these stores, allowing consumers to quickly find the right product.
Moreover, these stores offer attractive discounts, multiple payment options and a pleasant customer experience. Skincare product manufacturers generally prefer to sell in supermarkets and hypermarkets due to high customer traffic.
Many major skincare product manufacturers sell their products in well-known supermarkets such as Walmart, Kroger, and Lidl, due to their large customer base and extensive distribution network.
Based on region, the skin care products market is segmented into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America (SAT). In 2020, Asia-Pacific held the largest share of the global skin care products market and is expected to witness the fastest growth over the forecast period.
Changing lifestyle preferences in Asia Pacific are having a significant impact on the Asia Pacific skin care products market.
According to the International Trade Administration, in 2019, skincare products accounted for 53% of Japan’s cosmetics market. Additionally, anti-aging, brightening and moisturizing products are in high demand in the region.
The growth of the skincare products market can be attributed to a few factors such as growing desire for health promoting and personal care products, growing interest in diets and routines, and increasing product promotion skincare on social media. Thus, wellness customers are inclined to seek out and adhere to daily routines that they can trust and rely on, further driving the growth of the skin care products market in the region.
The main players in the skin care products market are L’Oréal Groupe; Beiersdorf; Shiseido CO., LTD. ; Procter and Gamble; Unilever; Himalayan Welfare Society; Lotus Herbals; VLCC Wellness; Avon products; and Johnson and Johnson Services, Inc.
The overall global skin care products market size has been derived using primary and secondary sources. To begin the research process, extensive secondary research was conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Additionally, several primary interviews were conducted with industry participants to validate the data and gain more analytical insights on the topic. Participants in this process include industry experts such as vice presidents, business development managers, market intelligence managers, national sales managers and external consultants such as valuation experts, analysts research and key opinion leaders specializing in the skin care products market.
Read the full report: https://www.reportlinker.com/p06270042/?utm_source=GNW
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