Industry Background:
Skin care products are used to support skin integrity, enhance its appearance, as well as cure skin conditions. Skin care products are intended to moisturize, soften, hydrate the skin, reduce the odor, and remove makeup, dirt, oil, & dead skin cells. Change in lifestyle patterns in emerging nations with rapid urbanization coupled with rise in awareness towards advanced skin care products have led the increase in demand for skin care products. Rising awareness about natural ingredients used in skin care products are fueling the growth of the market but, rising awareness for natural treatment product is likely limiting the growth of the market. Additionally, increasing geriatric population as well as disposal income of the emerging economies, is creating high demand for anti aging skin care products. It has been observed that, global warming is responsible for growing sun protection and UV rays protection cream. Moreover, packing and labeling of the product plays an important role to create strong brand value in the market The increasing awareness about skin care among people around the globe at a progressively young age so to delay the signs of aging is one of the important factor which drives growth of global skin care products market. These products have been used by both women and men on a daily basis on their face and body. Many key skin care product manufacturers are focusing to offer organic ingredient based skin care products as the demand for organic ingredient based skin care products among people is increasing. With these driving forces, the global skin care products market is expected to grow over the coming years.
According to AMA Research, the market for Skin Care Products is expected to register a CAGR of 6.2% during the forecast period to 2028. This growth is primarily driven by Increasing Awareness about Skin Care among People
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Billion) |
Dominating Type | Face Cream |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Consumer Goods sector in the Asia-Pacific region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as L'Oréa S.A. (France), Unilever (United Kingdom), Beiersdorf Inc. (Germany), The Colgate-Palmolive Company (United States), The Estée Lauder Companies, Inc. (United States), Johnson and Johnson (United States), Avon Products, Inc. (United Kingdom), Shiseido Co., Ltd. (Japan), The Procter & Gamble Company (United States) and Lumene (Finland), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In March 2019, Unilever had acquired Garancia; is French derma-cosmetic brand that currently offers a range of 38 premium facial and body skincare products. The acquisition has been added many skin care products in Unilever’s product portfolio that is ultimately supplementing growth of the company
The key players in the skin care products market such as L’Oreal Group, Avon Products, Inc., The Estée Lauder Companies, Inc. are continuously invest in R&D to offer new products in the market. With the increasing demand in the market, these companies are also increasing their production capacity to strengthen their global network.
Regulatory Insights:
Occurrence of strict regulations by agencies including EPA, FDA, & a few other associations to extend shelf life of skin care products has been likely to have positive impact on the global skin care products market over the coming years. For example, the European Union has been banned about 1300 chemicals which were being used in skin care products. This ban is due to doubts of harm the chemicals might cause to human body after the products use. and There are many different laws and regulation corresponding to geographical areas. For instance, in United States, soap should contain oil, fats and an alkali only. If any manufacturer adds any hazardous or undefined ingredient then the manufacturer doesn’t get approval for marketing and advertising according to Federal Hazardous Substances Ac. In addition to it, (EC) No. 1223/2009 is a regulation fin Europe under the EU Commission for cosmetic products.
Influencing Trend:
Increasing Preference to Organic Ingredient based Skin Care Products and Growing Disposable Income in Emerging Economies Results in Demand for Advanced Skin Care Product
Market Growth Drivers:
Increasing Awareness about Skin Care among People, Changing Lifestyle in Emerging Nations with Fast Urbanization and Growing E-commerce Industry
Challenges:
Strict Government Regulations and Very Less Shelf Life of Skin Care Products
Restraints:
Increasing Adoption of Natural Skin Care Treatment
Opportunities:
New Innovation and Continuously Ongoing Research and Development Activities for Skin Care Product
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Skin Care Products Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Skin Care Products Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Skin Care Products players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Skin Care Products Study Sheds Light on
The Skin Care Products Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Skin Care Products industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Skin Care Products industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.