Skin Care Market is Anticipated to Witness a Robust Growth Through 2025
Growing awareness pertaining to the various benefits of skin
care products and availability of wide variety of products are acting as key
growth drivers for global skin care market.
According
to TechSci Research report, “Global
Skin Care Market By
Product Type (Face Care Vs Body Care), By Origin (Conventional & Organic),
By Distribution Channel (Beauty Parlours/Salons, Multi Branded Retail Stores,
Online Channels, Supermarkets/Hypermarkets, Exclusive Retail Stores &
Others), By Region, Forecast & Opportunities, 2025”, the market is expected to grow at a significant CAGR during
the forecast period. Key factors propelling the growth of global skin care market
are growing skin care concerns among people which is leading to increasing
demand for face creams, sunscreens and body lotions. Moreover, prevalence of
various skin problems such as dryness, itchiness, acne & pimples due to
pollution and other lifestyle issues are also creating high demand for skin
care products around the world. Manufactures
are using latest technology and focusing on product innovation to meet the
growing need of potential customers. Also, shifting consumer preference towards
herbal and organic skin care products is pushing companies to replace chemical
ingredients with natural ones.
Furthermore, growing e-commerce sector and rising
trend of online shopping is anticipated to propel the growth of global skin
care market. The availability of wide range of skin care products including
foreign and luxurious brands is making consumers shop online. Apart from this, increasing
aging women population is leading to demand for anti-aging products. With rise
in disposable income and improving standard of living in developing nations,
the global skin care market is poised to undergo rapid growth in coming years.
Moreover, to increase consumer base in global market, various skin care brands
are offering consumers cheaper alternatives for their usual skin care regimes.
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The global
skin care market is segmented based on product type, origin, distribution
channel company, and region. Based on product type, the market can be
categorized into face care and body care. Among them, the face care segment is
expected to undergo fastest growth through 2025 on account of growing demand
for anti-ageing creams and skin brightening face creams to treat skin disorders
like acne scars, freckles and age spots.
Based
on distribution channel, the global skin care market can be segmented into
beauty parlours/salons, multi branded retail stores, online channels,
supermarkets/hypermarkets, exclusive retail stores & others. Among them, the
online segment is anticipated to dominate the market during the forecast period
on account of availability of heavy discount on products and thriving
e-commerce industry. Moreover, leading skin care brands are introducing their
own shopping websites which are gaining popularity in global market.
Major players operating in the global skin
care market are L'Oréal S.A.; Unilever; Johnson and Johnson; Beiersdorf AG, Shiseido
Company, Ltd.; Revlon, Inc., Avon Products, Inc., The Estée Lauder Companies,
Inc., Procter & Gamble Company and Colgate-Palmolive Company. Key growth
strategies being adopted by leading companies are product innovation,
collaborations, partnerships and mergers & acquisitions.
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“North
America dominated the global skin care market in 2019 owing to high per capita
disposable income and presence of leading skin care brands having their
headquarters in countries like United States and Canada. However, Asia Pacific
is expected to contribute to high revenue through 2025 on account of increasing
urbanization and increasing population of potential consumers. For instance,
China is world’s second largest market for skin care products and is
experiencing burgeoning demand from both urban and rural population ,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Skin Care Market By Product Type (Face Care
Vs Body Care), By Origin (Conventional & Organic), By Distribution Channel
(Beauty Parlours/Salons, Multi Branded Retail Stores, Online Channels,
Supermarkets/Hypermarkets, Exclusive Retail Stores & Others), By Region,
Forecast & Opportunities, 2025” has
evaluated the future growth potential of skin care market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global skin care market.
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