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Skin Care Products Global Market Expected to Reach $220.3 Billion with CAGR of 8.2% By 2028 | Key Players: LOreal S.A., Beiersdorf AG, Shiseido Co. Ltd., Avon Products Inc., Coty Inc.
Skin Care Products Global Market
The Business Research Company presents an extensive market research report on the Skin Care Products Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The skin care products market size has grown strongly in recent years. It will grow from $148.97 billion in 2023 to $160.94 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to beauty and personal care trends, aging population and anti-aging products, demand for natural and organic products, celebrity endorsements and marketing, increasing awareness of skin health..
The skin care products market size is expected to see strong growth in the next few years. It will grow to $220.3 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to clean and sustainable skincare products, personalized skincare solutions, adoption of skincare technology apps, skin health awareness and wellness trends, expansion of the men's skincare market, emerging markets and global beauty trends.. Major trends in the forecast period include ai and machine learning for skincare analysis, dna-based personalized skincare products, eco-friendly and refillable skincare packaging, beauty tech devices for at-home skincare, biodegradable and zero-waste skincare products, skin microbiome-friendly products..
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Key Market Players:
LOreal S.A., Beiersdorf AG, Shiseido Co. Ltd., Procter & Gamble, Unilever, Johnson & Johnson Inc., Avon Products Inc., Coty Inc., Colgate-Palmolive Company, Revlon, The Estée Lauder Companies Inc., Himalaya Wellness Company, Lotus Herbals pvt Ltd., Neutrogena Corporation, Olay, Barbara Sturm Molecular Cosmetics GmBH, Renée Rouleau, Kao Corporation, CeraVe, La Roche-Posay, Aveeno, Vichy, Cetaphil, Eucerin, Nivea, Garnier, LVMH are prominent players in the industry.
Market Drivers:
The rising awareness regarding the various benefits of using personal care products is expected to propel the growth of the skin care products market going forward. Using personal care products in your daily routine helps maintain hygiene and prevents catching and spreading germs and diseases. For instance, in July 2021, according to an article published by Edge by Ascential, a US-based online price and promotion analytics service provider, the Health, Beauty, and Personal Care category is expected to grow rapidly, with sales increasing by 305.2 billion USD between 2021 and 2026.
Meanwhile, e-commerce sales growth in this industry will outpace store-based sales growth by a 12.1% CAGR from 2021 to 2026. Over the next five years, the health, beauty, and personal care sector is expected to grow at a CAGR of 5.3% in e-commerce sales, surpassing the edible grocery segment and placing itself just behind household and pet care goods. Therefore, the increase in awareness regarding the various benefits of using personal care products is driving the growth of the skincare product market.
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https://www.thebusinessresearchcompany.com/report/skin-care-products-global-market-report
Market Segments Include:
1) By Product Type: Anti-Aging Products, Skin Whitening Products, Sensitive Skincare Products, Anti-Acne Products, Dry Skin Care Products, Infant Skin Care Products, Other Product Types
2) By Distribution Channel: Hypermarket, Supermarket, Cosmetics stores, Online Stores, Other Distribution Channels
3) By End User: Male, Female, Kids
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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