Dublin, Jan. 04, 2024 (GLOBE NEWSWIRE) — The “Skin Care Products – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Skin Care Products Market to Reach $199.8 Billion by 2030
The global market for Skin Care Products estimated at US$125 Billion in the year 2022, is projected to reach a revised size of US$199.8 Billion by 2030, growing at a CAGR of 6% over the analysis period 2022-2030.
Face Creams & Cleansers, one of the segments analyzed in the report, is projected to record 7% CAGR and reach US$126.8 Billion by the end of the analysis period. Growth in the Body Lotions segment is estimated at 5.2% CAGR for the next 8-year period.
The beauty and personal care industry faced significant challenges during the pandemic, primarily due to a pandemic-induced reduction in consumer spending. Consumer spending on skincare products saw changes in various regions and countries in 2020. However, the global beauty industry managed to cautiously recover from the pandemic’s impact as people increasingly desired to maintain a healthy lifestyle, driving demand for health and skincare solutions. Despite the challenges, skin care products managed to witness pockets of growth.
Skin care products play a pivotal role in the industry, with various ingredients used to create these products. The global market for skin care products showed positive prospects and outlook, with developing regions leading market growth. In 2023, global key competitors in the skin care industry competed for market share, with varying degrees of competitive presence ranging from strong to niche.
Recent market activity in the sector reflects ongoing efforts to adapt to changing consumer preferences and market dynamics. Overall, the beauty and personal care industry navigated through pandemic-induced stresses, demonstrating resilience and adaptability in response to evolving consumer needs.
The U.S. Market is Estimated at $29.2 Billion, While China is Forecast to Grow at 8.4% CAGR
The Skin Care Products market in the U.S. is estimated at US$29.2 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$27.5 Billion by the year 2030 trailing a CAGR of 8.4% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 5.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 1165 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $125 Billion |
| Forecasted Market Value (USD) by 2030 | $199.8 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Notable Skin Care Trends to Shape the Future Market Growth Dynamics
- Innovative Digital Technologies to Influence Skin Care Market
- Beauty & Skin Care Industry Undergoes Makeover Riding on Latest Wave of Technology Trends
- Novel Skincare Brands Make Way into the Market
- Growing Consumer Desire to Retain Youthful Appearance Drives Sales of Anti-Aging Skin Care Products
- Expanding Elderly Population Worldwide Presents Opportunities for Anti-Aging Products Market
- Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
- Anti-Aging Skin Care Products: Breeding the Hope of Timeless Beauty
- Rising Sales of Anti-Wrinkle Products
- Consumer Interest in Natural Ingredients Spurs Strong Demand for Natural and Organic Anti-Aging Products
- What’s Trending in Anti-aging Products Market
- Anti-Aging Facial Oils: Greener Future Driven by Consumers demanding Eco-friendly Products
- Facial Oils for Cleansing: Ease of use, Skin Friendliness, Hydration and Cleansing Superiority Drive Application
- Physiological Differences Entail Need for Male Specific Anti-Aging Products
- Medicated Skin Care Domain to Have Real Moment with Innovation Focus
- Select Recently Launched Innovative Medicated Skin Care Brands
- Trending Ingredients for Skin Care Products
- Rise in Young Population and Skin Conditions Such as Acne Drive Demand for Medicated skin Care Products
- Popularity of Cosmeceuticals Bodes Well for Market Growth
- Global Cosmeceutical Market Size (in US$ Billion) for 2019, 2022 and 2025
- Cosmeceuticals with Biologically Active Ingredients to Improve Skin Functioning Begin to Find Favor
- Skin Lightening Products Continue to Gain Momentum
- Creams Lead the Global Skin Lightening Market
- Synthetic Products Lead, Natural Products Poised for High Growth
- Culture & Ethnicity Shape the Skin Lighteners Landscape
- Women of Color Spent Significantly on Lightening Creams
- Natural Skin Lightening Ingredients Continue to Find Favor
- Global Skin Lightening Products Market by Nature of Ingredient (in %) for 2022E
- Physician-Dispensed Skin Brightening and Lightening Products: Opportunities for Growth
- Demand Continues to Surge for Effective Sunscreens
- Global Sun Care Market by Product Segment (in %) for 2022E
- Consumer Awareness: Key to Demand for Sun Care Products
- Demand for Stronger Sunscreens Ups the Demand for Ingredients
- Sustainability Emerges as a Buzzword in Sun Care Products Market
- Natural & Organic Sun Screens Sales on the Rise
- Women Continue to Hold Sway in the Global Skin Care Products Marketplace
- As Men Focus on Personal Grooming & Hygiene, Demand Surges for Male Skin Care Products5
- New Breed of “Metrosexuals” Spur Growth
- Demand for Sustainable Skincare Products Gain Momentum
- Key Challenges Confronting Development of Sustainable Beauty Brands
- Skin Care Products with Natural & Organic Ingredients Find Growing Acceptance among Eco-Conscious Consumers
- Green Movement Trend Impacts Dynamics in the Skin Care Market
- Rising Popularity of Personalized Skin Care Products
- Flourishing E-Commerce Sector Provides Growth Opportunities for Skin Care Products
- Use of Chemicals Presents Challenges for Skin Care Products Market
- Expanding Urban and Middle Class Population to Drive Market Growth
FOCUS ON SELECT PLAYERS(Total 457 Featured)
- Alba Botanica
- 3M Company
- AHAVA North America, LLC
- AdvoCare International LP
- Aida Grey, Inc.
- 4life Trademarks, L.L.C.
- Abercrombie & Fitch Co.
- Absolutely Natural
- Aidance Skincare
- Abbe Laboratories, Inc.
- Adigica Health, Inc. – BioClarity
- Advanced Dermatology and Cosmetic Surgery
- 320 MHz – Plant Me Botanics Limited
- 100 Percent Pure
- A.G.E. Stop GmbH
For more information about this report visit https://www.researchandmarkets.com/r/7ebx7u
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- Skin Care Products Market