Press release
2025-2034 Luxury Skincare Market Roadmap: Insights for Competitive Advantage
Luxury Skincare
How Large Will the Luxury Skincare Market Size By 2025?
The upscale skincare market's dimensions have expanded substantially in the past period. The expected increase is from $23.99 billion in 2024 to $26.05 billion in 2025, with a compound annual growth rate (CAGR) of 8.6%. The growth during the historical period can be traced back to factors such as changes in consumer habits, an increase in disposable income, brand reputation and image, the impact of social media, and the worldwide standardization of beauty norms.
How Big Is the Luxury Skincare Market Size Expected to Grow by 2029?
In the upcoming years, the luxury skincare market is predicted to witness significant expansion, with its value reaching $34.86 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.6%. Several factors accounting for this projected growth in the forecast period encompass the ongoing focus on self-care, rapid proliferation of e-commerce, sustainable practices, the rising aging demographic, and broad-ranging beauty standards. The period under focus will most likely see trends such as advancements in technology linked to skincare formulation, innovative approaches to formulation, digital revolutions and the prevalence of e-commerce, cutting-edge technological innovations, and a comprehensive wellness and skincare focus.
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Which Key Market Drivers Powering Luxury Skincare Market Expansion and Growth?
The expansion of the luxury skincare market is anticipated to be fueled by the booming e-commerce sector. The term e-commerce refers to the online purchase and sale of products and services. It broadens the accessibility of luxury skincare, offering customers the convenience to shop whenever and wherever they want, and enables brands to collect information on consumer preferences and browsing habits. For example, in August 2023, the United States Census Bureau, a government organization in the United States, reported that the estimated e-commerce growth in the second quarter of 2023 surged by 7.5% (or 1.4%), compared to the same period in 2022. Meanwhile, total retail sales increased by 0.6% (or 0.4%). E-commerce accounted for 15.4% of all sales in the second quarter of 2023. Hence, the burgeoning e-commerce sector is a key driver for the growth of the luxury skincare market.
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Which Fast-Growing Trends Are Poised to Disrupt the Luxury Skincare Market?
Leading corporations in the luxury skincare market are placing emphasis on technological progress and invention, such as the AI Skin Advisor, to boost their market earnings. The AI Skin Advisor offers a tailored skincare regimen to customers by analysing their skin type. For example, in January 2023, Bulldog Skincare Limited, a US skincare product manufacturer, introduced the cutting-edge AI Skin Advisor. This AI instrument encourages male users to boost their virtual involvement in skin examination, offering bespoke skincare advice in under a minute. The tool makes the task of choosing top-notch skincare products simpler, thereby making the skincare journey more appealing and accessible for males. The AI tool is available for purchase on the Bulldog UK website and was developed in conjunction with Revieve, a company that designs self-diagnostic tools and digital brand experiences.
What Are the Emerging Segments in the Luxury Skincare Market?
The luxury skincaremarket covered in this report is segmented -
1) By Types: Facial Care, Body Care
2) By Distribution Channel: Hypermarkets And Supermarkets, 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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Who Are the Global Leaders 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
Which are the Top Profitable Regional Markets for the Luxury Skincare Industry?
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.
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