DUBLIN--(BUSINESS WIRE)--The "Global Skin Care Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global skin care market was valued at US$201.656 billion in 2019.
The global skincare product market is driven by the increasing demand for sun creams, body lotions, face moisturizers, and other skin care products. The demand is increasing due to the rise in disposable income, urbanization in developing countries, changing lifestyles, and advanced skin care products. The skin care products are used for both beauty enhancing and as medicine for skin-related problems.
The market to majorly grow due to growing consciousness among consumers about looks and skin quality. The people are more sensitive towards using any kind of skin care products, making them choose more accurately what is most suitable for them. The growing global warming and climate change have increased the use of skin care products due to increasing harsh sunlight and dusty & dry weather which causes the skin to dark, dry, and crack. The increasing pollution levels in cities due to increasing number of industries is also causing bad effects on the skin, making people use more skin care products for protection.
Thus, rising awareness regrading harmful effects of harsh weather conditions coupled with growing knowledge about different chemicals and compounds to treat certain skin-related problems is significantly fueling the market growth of skin care globally. The rising urbanization in developing countries like India and China is leading to a surge in people's purchasing power, giving them the liberty to buy what they desired. The government in many countries has banned the use of animals for testing and the use of animal ingredients in personal and skin care products. This has negatively affected small and medium scale enterprises, thereby hindering the global skin care market growth to some extent.
Harsh weather and pollution is boosting the demand for skin care products
The market for skin care products is rising due to adverse effects of weather on the skin like dryness, dark due to strong sunlight, cracks because of roughness and other skin diseases. The market for skin care products is also rising growing due to the increasing need and importance for grooming and personal hygiene among both men and women. The face product market has a significant share in the global skin care market. The demand is rising due to the growing use of anti-aging, sunblock, anti-tanning creams, and moisturizers. The growing use of skin brightening creams, the creams that reduce acne scars, pimples, age spots, freckles, etc. are growing the demand for skin care products.
Internet and smartphone penetration has increased the online skincare product sales
The growing use of the internet and smartphones is increasing the skin care product market. The increasing penetration of the internet has given rise to a new platform for companies to sell their products. According to the World Bank Data, the number of people using the internet has grown two folds in a decade from 22.96% in 2008 to 49.72% in 2017. The increase in the internet user population will further grow the market for skin care products as more companies will sell their products online due to the increase in convenience and low investment.
By geography, North America has a significant share in the market
Regionally, the global skin care market is classified into North America, South America, Europe, Middle East and Africa, and Asia Pacific. North America is expected to have a significant market share in the skin care market due to early adoption of new products, better technology, rising investment in research and development for expanding the product line and increasing advertisement and marketing through social media platforms for increasing the sales going to be a driving factor in the North America region. The growing demand for premium perfumes in the region to further expand the deodorants and fragrances market. The Asia Pacific region is expected to be the fastest-growing regional skincare market during the forecast period.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Skin Care Market Analysis, By product
5.1. Introduction
5.2. Face Products
5.3. Body Products
6. Global Skin Care Market Analysis, By Distribution Channel
6.1. Introduction
6.2. Offline
6.3. Online
7. Global Skin Care Market Analysis, By Geography
7.1. Introduction
7.2. North America
7.3. South America
7.4. Europe
7.5. Middle East and Africa
7.6. Asia Pacific
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. L'Oreal S.A.
9.2. Estee Lauder Companies Inc.
9.3. Avon Products, Inc.
9.4. Coty Inc.
9.5. Revlon Consumer Products Corporation
9.6. Shiseido Company Limited
9.7. Unilever N.V.
9.8. Procter & Gamble Company
9.9. Beiersdorf AG
9.10. Johnson and Johnson
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