Wilmington, Delaware, United States, Aug. 10, 2022 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The value of global cosmetic skin care market was worth US$ 101.34 Bn in 2021. The cosmetic skin care industry statistics predict the market to expand at a CAGR of 4.8% during the forecast period, from 2022 to 2031.The global cosmetic skin care market is predicted to attain value of US$ 154.7 Bn by 2031. Top skincare companies are concentrating on attaining long-term success through innovation, efficient integration, and constant betterment of cosmetic procedures.
Skin care market analysis estimates that due to rapidly expanding urbanization and growing consumer understanding of organic skin care products, demand from Asia Pacific nations is rising. This factor is expected to offer attractive growth prospects for market participants and occupy higher skincare market share in the years to come. In the forthcoming years, it is anticipated that the expansion of trade and investment opportunities in developing nations will provide market participants with a plethora of opportunities. A common tactic used by many firms to increase income is commercial collaboration with important stakeholders.
Rise in use of organic skincare and cosmetic products is expected to be one of the primary factors anticipated to propel the global cosmetic skin care in the forthcoming years. The growing demand for organic cosmetics is a result of the adverse effects of products with a chemical base . There is an increase in discretionary income in several important markets throughout the world. The market for cosmetic skincare is thus expected to be driven by rising discretionary income and higher spending power on skin care products in developing nations.
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Key Findings of Market Report
- Chemicals in traditional beauty products can penetrate the skin and travel through the bloodstream, where they can cause a variety of diseases like cancer and hormone imbalance. As such, products without toxic ingredients are more popular with consumers. The global demand for products made with natural components has been steadily increasing and is a prominent market segmentation of skin care products.
- The amount of disposable income has increased in several important markets throughout the world. The surge in purchasing activities is associated with an increase in discretionary income. Consumers are raising their expenditure on skincare products, which is evidenced by the prominence and expansion of renowned skincare brands , whose products are typically more premium.
- Women in the 16 to 24 years age category invest the highest on cosmetic skin care items, such as self-tanning solutions, particularly in Germany, France, Spain, Italy, and the UK The US skin care market size is also expected to be driven by the growing popularity of these products amongst women in the region.
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Global Cosmetic Skin Care Market: Growth Drivers
- Due to their user-friendliness and convenience, creams and moisturisers account for a significant portion of the global market for cosmetic skin care. Due to the rapidly growing ageing population, it is anticipated that demand for moisturisers and creams that include natural antioxidants will increase significantly .
- Asia Pacific is anticipated to occupy lion’s share of the global market for cosmetic skin care during the forecast timeline. South Korea, Japan, and China are expected to lead the regional market for cosmetic skin care. This can be attributed to the significant cultural as well as geographic influences that shape how customers make purchases of cosmetic skin care products.
Global Cosmetic Skin Care Market: Key Players
Some of the key market players are
- Galderma Laboratories, LP
- Beiersdorf AG
- Shiseido Company
- Procter & Gamble Company
- Johnson & Johnson Consumer Inc.
- Estée Lauder Inc.
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Global Cosmetic Skin Care Market: Segmentation
Product
- Cleanser
- Cream & Moisturizer
- Serum
- Face Mask
- Others
Product Ingredients
End User
Price
- Low (Up to US$ 50)
- Medium (US$50-US$200)
- High (Above US$ 200)
Distribution Channel
Consumer Goods Research Reports
Nail Care Market- Nail Care Market is expected to reach US$ 23.1 Bn by the end of 2031
Cosmetics Ingredient Market – The complete revenue generated from the global cosmetics ingredient market is valued at US$ 30 Bn in 2020 that is anticipated to surge at a CAGR of 5.6%, to reach US$ 51.6 Bn by 2030
Skin Care Products Market – The global skin care products market is expected to reach the value of US$ 269.2 Bn by the end of 2031, expand at a CAGR of 5.6% from 2021 to 2031
Sun Care Market – The global sun care market is expected to reach the value of US$ 3 Bn by the end of 2031, expand at a CAGR of 5.6% from 2021 to 2031
Feminine Hygiene Products Market- Feminine Hygiene Products Market is expected to surpass the value of US$ 127.6 Bn by the end of 2031
Hair Removal Products Market- Hair Removal Products Market is expected to surpass the value of US$ 1.8 Bn by the end of 2031
Smart Crib Market- Smart Crib Market is expected to reach US$ 545.4 Mn by the end of 2031
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