Press release
Skin Care Products Market - Key Projections, Industry Trends & Forecast of Coming Years
According to the research study, the rising awareness regarding healthy lifestyles and the increasing desire of the global population to maintain a youthful appearance are the major factors that are estimated to boost the demand for skin care products across the globe. In addition, the growing concern about the adverse effects of pollution on the human skin is further driving the global skin care products market. Moreover, in recent years, the online retail industry has been gaining traction, giving a strong boost to the skin care products market.
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The research report has further provided strategic recommendations by industry experts to assist the major players in the market in finalizing their business strategies effectively. The use of several analytical tools has been made in the research report to determine the growth drivers, opportunities, and trends observed in the global skin care products market.
Overview of the Global Skin Care Market
In 2014, the global skin care products market was worth US$110.7 bn and is anticipated to reach a value of US$155.4 bn by the end of 2021. The market is projected to register a healthy 4.90% CAGR between 2015 and 2021.
The increasing demand from the population for beautification is one of the major factors expected to fuel the growth of the global skin care products market in the near future. In addition, the rising interest in grooming, brightening of skin, and the increasing disposable income among the population in emerging economies are the other factors driving the overall market. The rising numbers of distribution channels such as supermarkets, hypermarkets, departmental stores, beauty product retailers, and online stores are further boosting the sales of skin care products globally.
The global skin care products market has been broadly classified into body lotions and face creams. The body lotion segment is further divided into premium body care lotions and mass market body care lotions, whereas the face cream segment has been divided into sun protection cream, skin brightening cream, and anti-aging cream. Among these, the anti-aging face cream segment accounts for the largest share in the global market, followed by skin brightening face creams. Among body lotions, the mass market body care lotion segment holds the largest share in the overall body lotions market.
The global skin care products market has been divided on the basis of geography into Asia Pacific, North America, Europe, and Rest of the World. Presently, the Asia Pacific market holds the largest share in the global market and is anticipated to remain in the leading position in the next few years. The rapid growth of this region can be attributed to the rising demand in the emerging markets of China and Japan.
Companies mentioned in the research report
The global skin care products market is highly competitive, owing to the presence of several prominent players in the market. The high growth potential of the market has encouraged several players to participate in the market and create a niche for themselves. Some of the major players operating in the global skin care products market are Kao Corporation, The Estee Lauder Companies Inc., Beiersdorf AG, Procter & Gamble, Avon Products Inc., Unilever PLC, Colgate-Palmolive Company, Shiseido Company, Limited, L'Oréal S.A., and Johnson & Johnson.
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