Skincare Market to Reach $145.82 Billion by 2028 |

Pune, India, Jan. 25, 2022 (GLOBE NEWSWIRE) — The world skin care market The size is expected to gain momentum reaching USD 145.82 billion by 2028 from USD 100.13 billion in 2021, while growing at a CAGR of 5.52% between 2021 and 2028. In its report titled “Skin Care Market, Forecast 2021-2028”, Fortune Business Insights™ mentions that the market was worth 98.83 billion USD in 2020.

In recent times, skin care has become one of the important rituals in everyone’s life. Indeed, these products improve the quality and health of the skin and nourish it. Both men and women use it daily for purposes such as cleansing, moisturizing and moisturizing. Additionally, awareness of natural and herbal skin care is also generating traction.

For example, ingredients such as aloe vera, various root and leaf extracts have replaced chemicals in these personal care products since people are now aware of the harmful effects of synthetic chemicals on the skin. Therefore, major skincare companies label their products as natural. For example, key companies such as Avon and Garnier have launched their natural and herbal line as ‘Avon Naturals’ and ‘Garnier Organic’ to attract customers.

Impact of COVID-19

The pandemic has crippled the global economy. Manufacturing facilities have seen production capacity shrink due to lockdowns and strict regulations imposed by governments amid the pandemic to curb the spread of the virus. This has an impact on companies’ product revenue. Moreover, factors such as closure of beauty shops and cosmetics companies and shortage of raw material supply due to lockdown restrictions have hampered the consumption rate of the products.

However, the market is expected to pick up during the forecast period as consumer behavior towards personal care, wellness and beauty has increased while indoors amid the lockdown.

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List of key players presented in the Skin care market:

  • L’Oreal Professional (Clichy, France)
  • Unilever (London, England)
  • Procter & Gamble (Cincinnati, Ohio, USA)
  • Estée Lauder Inc. (New York, USA)
  • Beiersdorf AG (Hamburg, Germany)
  • Shiseido Co., Ltd. (Chuo City, Tokyo, Japan)
  • Coty Inc. (New York, USA)
  • Natura & Co. (Sao Paulo, Brazil)
  • Kao Corporation (Chuo City, Tokyo, Japan)
  • Johnson & Johnson Services, Inc. (New Brunswick, USA)
  • Avon Products Inc. (London, UK)

Impact of COVID-19-

The rapid spread of the coronavirus pandemic has affected various markets and industries around the world. Shutdowns of production plants and manufacturing facilities due to indefinite shutdowns and curfews have slowed the growth of the market. Disruptions in exploration and detection, map monitoring and scheduled mapping, precision agriculture application operations and others due to temporary shutdowns have negatively impacted the growth of the market. However, the market is expected to recover quickly once the market returns to pre-pandemic levels.

Market segmentation :

By product type, the market is split into

  • Creams
  • lotions
  • powders
  • Vaporizers

By Packaging Type, the market is segmented into

On the basis of gender, the market is segmented into

By distribution channel, the market is segmented into

  • cosmetics stores
  • supermarkets/hypermarkets,
  • online channels

based on region, the market is categorized into

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East
  • Africa

Browse Detailed Abstract of Research Report with TOC:

https://www.fortunebusinessinsights.com/skin-care-market-102544

What does the report provide?

The market report for these products provides a detailed analysis of several factors, such as key drivers and restraints that will impact growth. Additionally, the report provides information on regional analysis which covers different regions, helping the market growth. This includes the competitive landscape that involves leading companies and the adoption of strategies to introduce new products, announce partnerships and collaborate to help drive market growth.

Determining factors

Increase Personal Care Awareness to Drive Market Growth

The growing trend of skin nourishing products by the young population to treat their skin problems such as acne, black spots, scars, dullness and tan is expected to drive the growth of the skin care market. Products such as toners, scrubs, and sunscreens are in high demand among the younger population, while products that treat wrinkles and cracked heels are in demand among the older population. Additionally, the ever-changing lifestyle, increasing disposable income, and spending habits of consumers on beauty products are expected to drive the market in the coming years.

In addition, the growing demand for men’s grooming products, strong advertising initiatives by manufacturers, and the trend of digitalization that have raised consumer awareness about personal care products are also driving the market growth. For example, according to “Prima & Prep’s Men Grooming survey 2019”, approximately 89.5% of men are concerned about skin problems, of which 35.8% use skincare and anti-aging products daily.

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Regional outlook

Asia-Pacific will dominate thanks to the increase in the labor force

Asia-Pacific is expected to remain at the forefront and occupy the highest position in the market during the forecast period. This is due to the growing labor force and rising disposable income in the region. For example, an India Brand Equity Foundation report on FMCG released in May 2018 indicates that India’s total consumer spending was $1.595 billion in 2016, which is expected to reach around $3. 600 billion USD by 2020. The market in the region stood at 51.31 USD. billion in 2020.

Europe is expected to exhibit a large share of the skincare market in the coming years, owing to the growing demand for skin-nourishing products by both male and female population. Moreover, the greater purchasing power of the population of the region, coupled with the strong presence of key players operating in the market, favors the regional market.

Detailed Table of Contents:

  • introduction
    • Search scope
    • Market segmentation
    • Research Methodology
    • Definitions and assumptions
  • Summary
  • Market dynamics
    • Market factors
    • Market constraints
    • Market opportunities
    • Emerging trends
  • key ideas
    • Overview of parent/related markets
    • Industry SWOT Analysis
    • Supply chain and regulatory analysis
    • Recent Industry Developments – Policies, Partnerships, New Product Launches and Mergers & Acquisitions
    • Market analysis and overview (in relation to COVID-19)
      • Impact of COVID-19 on the market
      • Supply chain challenges due to the pandemic
      • Potential opportunities to support the market during the global crisis
  • Global Skin Care Market Analysis, Outlook and Forecast, 2017-2028
    • Main results/summary
    • Market size estimates and forecasts
      • By product (value)
        • Creams
        • lotions
        • Powders
        • Others
      • By type of packaging (value)
      • By gender (value)
      • By distribution channel (value)
        • Cosmetics stores
        • Supermarkets/Hypermarkets
        • Online commerce/e-commerce channels
        • Others
      • By region (value)
        • North America
        • Europe
        • Asia Pacific
        • South America
        • Middle East and Africa
  • North America Skin Care Market Analysis, Outlook and Forecast, 2017-2028
    • Main results/summary
    • Market size estimates and forecasts
      • By product (value)
        • Creams
        • lotions
        • Powders
        • Others
      • By type of packaging (value)
      • By gender (value)
      • By distribution channel (value)
        • Cosmetics stores
        • Supermarkets/Hypermarkets
        • Online commerce/e-commerce channels
        • Others
      • By country (value)
        • we
          • By product (value)
            • Creams
            • lotions
            • Powders
            • Others
        • Canada
          • By product (value)
            • Creams
            • lotions
            • Powders
            • Others
        • Mexico
          • By product (value)
            • Creams
            • lotions
            • Powders
            • Others

TOC Continued…!

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Competitive landscape

Key Players Need to Focus on New Launches and Acquisitions to Strengthen Their Presence

The market is consolidated by large companies striving to maintain their position by focusing on new launches, collaborations and partnerships, and acquisitions. Such strategies adopted by key players are expected to boost its market prospects.

Here is the development of the industry:

  • December 2019: A subsidiary of Kao Corporation, e’quipe, LTD., launched its new brand named ‘athletia’ in February 2020. The brand offers skin nutrition products, such as ‘tune & charge’, ‘active & go ‘ and ‘breathe & sleep’ range.
  • January 2020: Procter & Gamble has acquired a women’s body care company named Billie Inc. Through this acquisition, the company is expected to strengthen its product line as Billie is primarily involved in providing women’s beauty and skincare products.

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