At an estimated value of over USD 141.53 Bn billion in 2019, the Global Skin Care Product Market is predicted to thrive at a CAGR of 3.7% and valued at over USD 211.06 billion over the forecast year 2020-2030.
Products used for skin beautification and treatment of numerous skin related concerns is referred to as skin care products. Skin care involves nutrition, appropriate use of emollients, and avoidance of excessive sun exposure. The various skin care products for normal skin includes cleanser, toner, moisturizer, and sunscreen. The benefits of skin care products includes cleansed & moisturized hands, face, and body as well as fight against aging effects on the skin.
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Top Companies: Johnson & Johnson, Unilever PLC, Avon Products Inc., The Estee Lauder Companies Inc., L’Oreal S.A., Kao Corporation, Shiseido Company, Beiersdorf AG, Colgate-Palmolive Company, Procter & Gamble and others.
The global skin care product market share is segmented on the basis of product and geography. On the basis of product, the market is categorized into face cream and body lotion. Face cream is further sub-segmented into skin brightening cream, antiaging cream and sun protection cream. Body lotion is further sub-segmented into mass market body care lotion and premium body care lotion. Geographic fragmentation and analysis of each segment includes regions comprising North America, Europe, Asia Pacific and RoW.
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In terms of geography, Asia-Pacific held major share of the market in 2019. This is attributed to rising per capita income and the increasing population in the region. In addition, the rise in demand for multifunctional beauty & personal care products fuels the market growth in this region owing to the busy and changing lifestyles of the consumers. However, RoW is expected to grow rapidly with increasing market size due factors such as increasing skin health spending and awareness about the skin care through advanced skin care products.
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