SEATTLE, May 19, 2021 (GLOBE NEWSWIRE) -- Skin care is a wide array of practices that support skin health, improve its appearance and alleviate various skin disorders. Skin care products are used for skin-related problems such as sunburn, dry skin, acne, wrinkles etc. They help in skin repair, maintenance and prevention. They may consist of proper use of moisturizers, vitamins, antioxidants and various skin-friendly practices.
It is important to look for skin care products that reduce fine lines and wrinkles; fight against skin cancer; prevent or reduce pore blockage; and lessen redness and inflammation of the skin. It is better to select cleansers and toners, especially for oily skin, that maintain good levels of sebum (oil produced by the sebaceous glands) to avoid clogged pores. Facial cleansers should have salicylic acid to clean dirt and oil from the pores, thus preventing pimples and blackheads. For people with acne, benzoyl peroxide (for mild to moderate acne) and salicylic acid (for severe acne and cystic acne) are used. It is also beneficial to use anti-inflammatory creams and gels after removing acne to reduce pain and inflammation.
The global skin care products market is estimated to account for US$ 179.51 Bn, in terms of value by the end of 2027, witnessing a CAGR of 4.37%.
Market Drivers:
Increasing focus on aesthetic appeal is expected to propel growth of the global skin care products market over the forecast period. For instance, according to a 2018 survey by GlobalData, around three quarters of South Korean men undertake a beauty or grooming treatment at least once a week.
Moreover, increasing expenditure on personal care products is also expected to aid in growth of the market. For instance, according to the U.S. Bureau of Labor Statistics, average annual expenditure on personal care products in the U.S. increased from US$ 707 in 2016 to US$ 768 in 2018.
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Market Opportunities:
Increasing geriatric population is expected to offer lucrative growth opportunities for players in the global skin care products market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.
Moreover, increasing air pollution is also expected to aid in growth of the global skin care products market. For instance, according to Health Effects Institute estimates (provided by University of Texas at Austin), air pollution was the fifth leading risk factor for mortality worldwide in 2019.
Market Trends:
Among regions, Asia Pacific is expected to witness significant growth in the global skin care products market, owing to significant growth in the e-commerce sector in the region. For instance, according to India Brand Equity Foundation, the e-commerce sector in India is expected to reach US$ 200 billion by 2026 from US$ 38.5 billion as of 2017.
Increasing traction towards beauty routines and beauty technology is expected to aid in growth of the market. For instance, according to Annual Philips Global Beauty Index released in 2019, 65% (of over 12,000 women surveyed from 12 different countries) women are most excited about personalized advice on how to keep their hair and skin healthy when it comes to future beauty technology. The report also revealed that 85% and 81% women in China and India respectively are particularly eager for future developments in beauty routines and beauty technology.
Competitive Landscape:
Major players operating in the global skin care products market include, Unilever Plc., Shiseido Company Ltd., Johnson & Johnson Inc., Procter & Gamble Co., L'Oréal S.A., Revlon Inc., Kao Corporation, and Avon Products Inc., Beiersdorf AG, Colgate Palmolive Company, and others.
Major players in the market are focused on launching new products to expand their product portfolio. For instance, in April 2020, Kao Corporation launched Curél Deep Moisture Spray, a new face and body moisturizing spray for dry and sensitive skin.
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Market segmentation:
On the basis of distribution channel:
- Hypermarket
- Supermarket
- Specialty Stores
- Online Channel
- Drug Stores
- Others
On the basis of product type:
- Anti-Aging Products
- Skin Whitening Products
- Sensitive Skin Care Products
- Anti-Acne Products
- Dry Skin Care Products
- Infant Skin Care Products
- Others
On the basis of end user:
- Male
- Female
- Kids
On the basis of region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
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