ALBANY, New York, Sept. 14, 2018 (GLOBE NEWSWIRE) -- According to the report, the global skincare products market had a net valuation of US$110.69 bn in 2014. Exhibiting a moderate 4.9% CAGR between 2015 and 2021, the market is expected to rise to a revenue opportunity of US$155.44 bn by 2021.
Steady expansion of product portfolios, expansion of geographical outreach, and effective marketing strategies are the areas that most companies in the market focus on to gain a stronger hold on the market. Owing to increased demand for organic products in the past few years, companies have also increased their focus on development of natural and organic product lines to acquire a larger consumer base. Some of the leading companies in the market are Johnson & Johnson Services Inc., The Estee Lauder Companies Inc., Procter & Gamble, Beiersdorf, Kao Corp., L'Oréal S.A., Avon Products Inc., and Unilever.
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Improved Economic Conditions across Developing Economies to Drive Growth
Factors such as rising consciousness about healthy skin, improving economic conditions of developing countries, rising population of aged people, and consistent rise in demand for a variety of skin care products across the globe are key to the promising growth prospects of the global skin care products market. The massive rise in demand for anti-aging products, sun screen lotions and creams, and skin moisturizing products across Latin America, and a marked rise in demand for organic skin care products, especially across North America and European markets have also elicited significant developments in the global skincare products market in the past few years.
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Rise in Demand for Easily Accessible Luxury Skincare Products to Fuel Growth of the Market
Over the next few years, the market will benefit from the massive rise in demand for easily accessible luxury skincare products such as face masks, skin hydration products, and sun screen products across emerging economies. Demand for skin brightening products across countries in the Middle East and Africa regions is also expected to provide an influential growth opportunity to the global market.
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The review is based on a report by Transparency Market Research (TMR), titled “Skin Care Products Market (Product - Face Cream (Skin Brightening Cream, Anti-aging Cream, and Sun Protection Cream) and Body Lotion (Mass Market Body Care Lotion and Premium Body Care Lotion)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2021.”
The global market for skin care products is segmented into:
By Product Segment
- Face cream
- Skin brightening cream
- Anti-aging cream
- Sun protection cream
- Body lotion
- Mass market body care lotion
- Premium body care lotion
By Geography
- North America
- U.S.
- Rest of North America
- Europe
- U.K.
- France
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- India
- China
- Japan
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa (MEA)
- Latin America
- Brazil
- Argentina
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