DUBLIN–(BUSINESS WIRE)–The report “Skin Care Products Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Product Type, Category, End-User and Distribution Channel” has been added to from ResearchAndMarkets.com offer.
Skin Care Products Market was valued at USD 115,386.46 Million in 2021 and is projected to reach USD 213,363.09 Million by 2028. It is expected to grow at a CAGR of 9.2% from 2021 to 2028.
Skin care is an essential part of personal care. It includes everything from correction to prevention in the skin care process. Makeup with skin benefits has prevailed in the market. In addition, increasing demand for face creams, sunscreens, and body lotions across the globe is expected to have a positive impact on the growth of the skin care products market. There is a growing popularity of daily skincare routines among the population due to social media influencers promoting their skincare routines.
Overall, people are becoming more aware of their physical appearance and more concerned about skin disorders and skin virulence. A skin care routine helps the skin stay in good condition. Skin care products are used to treat basic skin problems ranging from acne to scars. There are various advancements in the ingredients used to deliver skin care products to consumers.
The skin is one of the most damaged organs due to exposure to external factors such as ultraviolet (UV) rays and pollution. Consequently, there has been an increase in the tendency to engage in a regular skincare routine, making it an integral part of personal well-being. Thus, the rising trend of skin care routines is boosting the growth of the skin care products market over the forecast period.
Based on distribution channel, the skin care products market is segmented into supermarkets & hypermarkets, specialty stores, online retail and others. Supermarkets and hypermarkets segment accounted for the largest market share in 2020. Supermarkets and hypermarkets are large retail establishments that offer a wide range of products, such as groceries, personal care products personal and household items.
Products of different brands are available at reasonable prices in these stores, allowing consumers to quickly find the right product. Moreover, these stores offer attractive discounts, multiple payment options and a pleasant customer experience.
Skin care product manufacturers generally prefer to sell in supermarkets and hypermarkets due to high customer traffic. Many major skincare product manufacturers sell their products in well-known supermarkets such as Walmart, Kroger, and Lidl, due to their large customer base and extensive distribution network.
In 2020, Asia-Pacific held the largest share in the global skin care products market and is expected to register the fastest growth over the forecast period. Changing lifestyle preferences in Asia Pacific are having a significant impact on the Asia Pacific skin care products market.
Rising awareness of skin-nourishing products through better access to various brands is expected to drive the skincare market in the coming years. According to the International Trade Administration, in 2019, skincare products accounted for 53% of Japan’s cosmetics market. Additionally, anti-aging, brightening and moisturizing products are in high demand in the region.
The growth of the skincare products market can be attributed to a few factors such as growing desire for health promoting and personal care products, growing interest in diets and routines, and increasing product promotion skincare on social media. Thus, wellness customers are inclined to seek out and adhere to daily routines that they can trust and depend on, further driving the growth of the skin care products market in the region.
Key market dynamics
Growing consumption of anti-aging products
Growing demand for organic skin care products
Concerns about PFAS chemicals found in skincare products
Growing demand for men’s skin care products
Growing trend of skin care routine
Himalayan Wellness Society
Procter & Gamble
Johnson & Johnson Services, Inc.
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