Latest Research Report on Skin
Care Products Market begins with an extensive
presentation and then investigates broad into specific segments such as raw
material, application, end user, and region, policy study, value chain
structure, and upcoming trends in particular segments or regions. The report on
Skin Care Products prepare a case for investments in different regions based on
a practical view of their regulatory outline, manufacturing dynamics, and
availability of skills and resources in that region.
Global Skin Care Products
Market size is expected to reach USD 177.15 billion by 2024. Skin care
products, as the name suggests, prevents early aging, pimples & black
patches, and enhances beauty. The growing demand for natural skin care
products, coupled with the increasing emphasis on personal health, is the main
factor driving the growth of the market in the years to come. Governments’
stringent regulations promoting the use of organic materials in the skin care
industry are expected to boost the market growth in the next couple of years.
The market size is anticipated to grow at a CAGR of 4.7% in the upcoming
period.
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In the market, various skin
care products are available such as face cream and body lotion. The “face
cream” segment includes skin brightening cream, sun protection cream,
anti-aging cream, and others. The “face cream” segment held largest market
share in 2015 and is expected to grow at a high CAGR in the upcoming period.
The increasing importance of natural ingredients for improving skin quality,
avoiding dryness, and hydrating the skin is expected to boost the market growth
over the forecast period. The “body lotion” segment includes premium body care
lotion, mass body care lotion, and others.
The other factors that play
an important role in the growth of skin care products market include increasing
urbanization & industrialization, changing lifestyle in developing
countries, rising awareness about advantages of advanced skin care products,
and high investments in emerging countries. Moreover, the growing demand for
sunscreens, body lotions, and organic face creams among consumers is likely to propel
the market growth during the forecast period.
However, limited shelf life
of skin care products, presence of pseudo-natural ingredients in these
products, and high cost of organic & natural ingredients used in these
products are negatively impacting the growth of skin care products industry.
The probable stakeholders
for market include skin care product manufacturers, raw material suppliers,
distribution channels, and end-use industries. The market is widely analyzed
based on different regional factors such as gross domestic product (GDP),
demographics, acceptance, inflation rate and others. The market is categorized
based on product, and geography.
Asia Pacific held the
largest market share in 2015 and is expected to witness the highest growth rate
in the forthcoming years due to increasing demand for skin care products from
developing countries such as India and China. On the other hand, North America
and Europe are expected to hold the highest market share in the next couple of
years. Increasing R&D investments coupled with associated technological
innovations in processing and cost-effective production of skin products are
expected to increase the product demand during the forecast period.
The key players
contributing to the robust development of the skin care products market include
L'Oréal S.A., The Estee Lauder Companies Inc., Unilever PLC, Beiseidorf AG,
Avon Products Inc., Colgate Palmolive, Kao Corporation, Estee Lauder,
Colgate-Palmolive Company, Johnson & Johnson, Beiersdorf and Avon Product
Inc. These market players are focusing on inorganic growth to sustain
themselves amidst fierce competition. As such, mergers, acquisitions, and joint
ventures are the need of the hour.
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