Skin Care Products Market Projected to Expand at a CAGR of Around 4% During 2019-2024

Global Skin Care Products Market Research Report and Forecast 2024 Report Edition: 2019 Copyright © IMARC Service Pvt Ltd. All Rights Reserved

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Global Skin Care Products Market Overview: According to the latest report by IMARC Group, titled “ Skin Care Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 201 9-2024 �, the global skin care products market size reached US$ 128.9 Billion in 2018. The skin is the largest and one of the most delicate organs of the body, which makes it essential to maintain its health.

Nowadays, as people are becoming more conscious about their appearances, the utilization of skin care products, such as cleansers, exfoliators, toners and moisturizers, has increased. In order to fulfill this demand, manufacturers are introducing specialized products to suit specific skin types. They are also incorporating natural and organic ingredients, such as rosehip oil, vitamin C and vitamin E, in line with the rising health and environmental concerns. Apart from this, governments of several nations have introduced stringent regulatory frameworks prohibiting the use of potentially harmful ingredients and for ensuring the production of cruelty-free products.

Skin Care Products Market Trends Over the past few years, there has been a significant rise in pollution levels, which has led to the escalating demand for products that can protect the skin from environmental aggressors.

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157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Million US$

in Million US$

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180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

For instance, the US-based beauty products company, Wet N Wild, has recently launched the ‘Breaking Beauty’ campaign that stars a transgender model, a cancer survivor, an activist, and the first model with albinism. On account of these factors, the market is projected to expand at a CAGR of around 4% during 2019-2024, reaching a value of US$ 165.9 Billion by 2024.

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Other than this, consumers are also concerned about exposure to blue light from digital devices, which can accelerate skin aging. These concerns are providing a boost to the production of anti-pollution and anti-blue light skin care products across the globe. Furthermore, skin care brands are adopting innovative marketing strategies to diversify their consumer base by focusing on inclusivity.

Key Market Segmentation: Market Segmentation by Product Type •

Face Cream o Skin Brightening Cream o Anti-Aging Cream o Sun Protection Cream

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Body Lotion o Mass Body Care o Premium Body Care o Others

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Based on the product type, the market has been segmented into face cream and body lotion. Amongst these, face cream represents the largest segment. It is further divided into skin brightening, anti-aging and sun protection creams. Whereas, body lotion includes mass body care and premium body care products.

Market Segmentation by Ingredient • •

Chemical Natural

The global market for skin care products has been categorized on the basis of the ingredient, which mainly comprises chemical and natural ingredients. Currently, chemical ingredients account for the majority of the market share.

Market Segmentation by Gender • •

Male Female

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Unisex

On the basis of gender, the market has been segregated into male, female and unisex. Amongst these, women represent the largest consumer base for skin care products.

Market Segmentation by Distribution Channel • • • • •

Supermarkets and Hypermarkets Beauty Parlours and Salons Multi Branded Retail Stores Online Exclusive Retail Stores

Based on the distribution channel, the market has been bifurcated into supermarkets and hypermarkets, beauty parlors and salons, multi branded retail stores, online, and exclusive retail stores.

Presently, supermarkets and hypermarkets are the most preferred distribution channel.

Market Segmentation by Region

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North America Europe Asia Pacific Middle East and Africa Latin America

The report has analyzed the market on a regional basis, which includes Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, Asia Pacific represents the biggest market for skin care products, holding the majority of the total market share.

Browse full TOC Report: https://www.imarcgroup.com/skin-care-products-market Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

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Johnson & Johnson The Estee Lauder Companies Inc.

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Unilever PLC Avon Products Inc. L'Oral S.A. Kao Corporation Colgate-Palmolive Company Shiseido Company Beiersdorf AG Procter & Gamble Revlon, Inc.

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