Skin Care Products Market
According to TMR estimations, the opportunity in the global market for skin care products is expected to expand at a steady CAGR of 4.90% over the period from 2015 to 2021, increasing from a value of US$110.7 bn in 2014 and reaching US$155.4 bn by the end of the period of the forecast. Face cream and body lotion are the two main products available in this market. Among the two, the demand for face cream is relatively higher and the trend is anticipated to remain so over the next few years. Among the regional markets, Asia Pacific has occupied the leading position and is projected to remain seated there in the years to come, reports the market study.
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Increasing Interest of Consumers towards Personal Grooming Fuels Demand for Skin Care Products
The global market for skin care products have been observing a substantial rise in its valuation. As per a TMR analyst, “the augmenting interest of consumers towards personal grooming, together with their escalating disposable incomes, is boosting the market for skin care products across the world.” Apart from this, the rising demand for skin lightening products, increased uptake of anti-aging products by the geriatric population, aggressive marketing, augmenting shift of consumers towards natural and organic products, and the expanding range of men’s skin care products are also supporting this market substantially, notes the research study.
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