Press release
Prominent Luxury Skincare Market Trend for 2025: Major Companies Drive Profitability with Innovations Such As AI Skin Advisor in the Luxury Skincare Market
Luxury Skincare Market
The luxury skincare market's growth is predicted to be driven by the burgeoning e-commerce industry. E-commerce, the act of purchasing and selling goods and services online, expands the accessibility of luxury skincare. It grants customers the convenience to shop at their preferred time and location and allows brands to gather insight into their tastes and online activity. For instance, the US Census Bureau reported that in August 2023, as compared to the second quarter of 2022, e-commerce figures in Q2 2023 witnessed an upward shift of 7.5% (or 1.4%). In contrast, overall retail sales only saw a rise of 0.6% (or 0.4%). A significant 15.4% of total sales in Q2 2023 were achieved through online platforms, indicating the crucial role the expanding e-commerce industry plays in the proliferation of the luxury skincare market. Luxury Skincare Market Driver: The Rise in Cosmetic Utilization Fuels Expansion in the Luxury Skincare Market
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What is the future CAGR of the luxury skincare market, and how will it impact industry expansion?
The market size of luxury skincare has experienced robust growth in the previous years. Predictions for the future estimate a rise from $23.99 billion in 2024 to $26.32 billion in 2025, with a compound annual growth rate (CAGR) of 9.7%. Factors such as shifts in consumer lifestyles, increase in disposable income, the reputation and perceived value of brands, the impact of social media, and the universalization of beauty standards have contributed to this historical growth.
In the foreseeable future, the market size of luxury skincare is predicted to witness robust expansion. The estimation is a growth to $35.69 billion by 2029, with a compound annual growth rate (CAGR) of 7.9%. The expansion during the predicted period can be ascribed to persistent focus on personal care, accelerated growth in e-commerce, emphasis on sustainability, rising elderly population, and inclusive beauty norms. The prevalent trends during this forecasted period involve advancements in technology for formulation, inventive improvements in formulation, dominance of digital transformation and e-commerce, state-of-the-art technology and novelty, along with a concentration towards wellness and comprehensive skincare.
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What are the most significant trends transforming the luxury skincare market today?
Major players in the luxury skincare industry are placing considerable emphasis on innovation and technological advancements, including AI Skin Advisor to enhance their market profitability. The AI Skin Advisor offers a bespoke skincare regimen to consumers, based on their individual skin analysis. For example, Bulldog Skincare Limited, a skincare products manufacturer from the US, unveiled its new AI Skin Advisor in January 2023. This innovative tool encourages male users to engage virtually in skin evaluations, delivering tailored skincare advice within a minute. The tool simplifies the decision-making process for choosing the most suitable skincare items, aiming to make skincare more appealing and manageable for men. The Bulldog UK website retails this product, which has been developed jointly with Revieve, a company that specializes in creating digital brand experiences and self-diagnostic tools.
Which key market segments comprise the luxury skincare market and drive its revenue growth?
The luxury skincare market covered in this report is segmented -
1) By Types: Facial Care, Body Care
2) By Distribution Channel: Hyper markets And Super markets, Specialty Stores, Online Stores, Other Distribution Channels
3) By Applications: For Men, For Women
Subsegments:
1) By Facial Care: Anti-Aging Products, Moisturizers And Serums, Cleansers And Exfoliators, Eye Care Products, Face Masks, Sun Protection
2) By Body Care: Body Lotions And Creams, Body Scrubs And Exfoliators, Bath Oils and Gels, Hand And Foot Care, Anti-Cellulite Products
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What regions are at the forefront of luxury skincare market expansion?
North America was the largest region in the luxury skincare market in 2024. The regions covered in the luxury skincare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the luxury skincare market?
Major companies operating in the luxury skincare market report are Johnson & Johnson Services Inc., Christian Dior SE, LVMH Moët Hennessy Louis Vuitton SE, Procter & Gamble Company, Unilever PLC, L'Oréal S.A., Henkel AG & Co. KGaA, Colgate-Palmolive Company, The Estée Lauder Companies Inc., Chanel S.A., Kao Corporation, Shiseido Co. Ltd., Coty Inc., Valmont Group, Amorepacific Corporation, Mary Kay Inc., Avon Products Inc., Kose Corporation, Revlon Inc., Beiersdorf AG, Sisley S.A., Guerlain S.A., Augustinus Bader GmbH & Co. KG, Lancôme Paris, Tatcha LLC, Tata Harper Skincare, Natura Bissé International S.A., Natura & Co., Sunday Riley Modern Skincare LLC
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What Is Covered In The Luxury Skincare Global Market Report?
•Market Size Forecast: Examine the luxury skincare market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the luxury skincare market for a structured understanding.
•Key Players Overview: Analyze major players in the luxury skincare market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the luxury skincare market.
•Segment Contributions: Evaluate how different segments drive overall growth in the luxury skincare market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the luxury skincare market.
•Industry Challenges: Identify potential risks and obstacles affecting the luxury skincare market.
•Competitive Landscape: Review strategic developments in the luxury skincare market, including expansions, agreements, and new product launches.
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