Skin Care Products Market is predicted to reach from USD 130.0 billion to USD 187.7 billion in 2029, and expand at a CAGR of 4.7% | Size Growth & Forecast

Skin Care Products Market

Skin Care Products Market earned a revenue of USD 130.0 billion in 2021 and is anticipated to reach USD 187.7 billion in 2029, and will Grow at a CAGR of 4.7% during the forecast period.

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The factors driving the growth of Skin Care Products Market includes growing demand for face creams and body lotions, rise in the production of hand sanitizer around the world and increasing consciousness amongst consumers towards maintaining personal hygiene. According to the report published by Statista, the Global Hand Sanitizer Market is calculated around USD 2.95 billion for 2022 and is expected to expand at a CAGR of 4.07% over the forecast period (2022-2027), which will accelerate the Global Skin Care Products Market in the approaching years. Moreover, the rising popularity of organic skin care products, availability of wide range of skin care products at the e-commerce platforms, rise in the launch of innovative products and growing adoption of advanced technologies such as Artificial Intelligence (AI) and Internet of Things (IoT) by manufacturers, are further pushing the market growth. In addition, the increasing investments by leading players on research and development, growing influence of social media platforms, rising population growth rates and rapid urbanization, are some of the additional factors supplementing the Skin Care Products Market share.

However, the growth of Skin Care Products Market is hindered due to skin damage due to excessive use of cosmetic products.

The leading players operating in the Skin Care Products Market are Johnson and Johnson Services, Inc., Natura &Co Holding S.A, Shiseido Company, Limited, Colgate-Palmolive Company, Procter & Gamble Company, L'Oréal, Unilever Group, Beiersdorf AG, Revlon, Inc. and The Estée Lauder Companies, Inc., among others.

Based on Product, the Face Cream segment is predicted to capture the largest market share during the forecast period

Growing demand for skin brightening creams and rising prevalence of scars, pimples, and acne on skin, are pushing the demand for face creams.

Based on Distribution Channel, the Online Store segment is projected to grow at a significant CAGR over the forecast period

E-commerce platforms offer wide range of skin care products at huge discount offers and provide free delivery options, are some of the factors responsible for the segment's growth.

Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR during the forecast period

Increasing demand for anti-ageing creams, expansion of the cosmetic industry, rise in the launch of innovative products, rapid urbanization, growing per capita incomes, improvements in the living standards and high population growth rates, are some of the important factors augmenting the Skin Care Products Market size in Asia-Pacific.

Key Development

In 2021, Beiersdorf launched customized Face Care New Brand O.W.N. Only What's Needed" - O.W.N which is designed to cater individual's skin needs.
In 2019, The Estée Lauder Companies Inc. competed the acquisition of South Korean cosmetics company Have & Be Co. Ltd., which ownws Dr. Jart+ and men's grooming brand Do The Right Thing.
In 2022, LVMH's brand KVD beauty launched New Good Apple Lightweight Full-Coverage Concealer, which has ultra-concentrated InterLace Pigments that easily blends into the face for crease-resistant coverage and maximum vibrancy.
In 2020, Yatsen Global, completed the acquisition of GALENIC, one of the leading skincare brands, of French pharmaceutical and dermo-cosmetic group Pierre Fabre Group.

Market Segmentation

Segmentation by Product

Face Cream
Body lotion
Others

Segmentation by Distribution Channel

Hypermarkets
Supermarkets
Specialty Stores
Online Store
Drug Stores
Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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