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Cosmetic Skin Care Products Market By Type (Skin Moisturizers, Skin Cleansing Lotions, Skin Facial Masks, Skin Shaving Creams, Skin Serums, Others) By Application (Supermarkets and Grocery Retailers, Beauty Specialist Retail Outlets, Factory Outlets, Online Sales) - Growth, Future Prospects, And Competitive Analysis, 2016 -2028

What is the Sales Revenue of Cosmetic Skin Care Products?

The global cosmetic skin care products market is expected to produce roughly 136.4 billion dollars in 2020. According to the Consumer Market Outlook, this market's revenue would reach approximately 187.68 billion dollars by 2026. The Asia Pacific dominated global market consumption in 2021, with Asia-Pacific leading the pack. Throughout the forecast period, the improving quality of life, the positive effects of beauty and personal care on self-esteem and social connection, and the progressive consumer tendency toward premium and luxury cosmetic brands are all predicted to fuel market growth.

cosmetic-skin-care-products-market

What is the Market Size of Cosmetic Skin Care Products in term of value?

Global Cosmetic Skin Care Products Market is projected to increase at a significant CAGR of 6.7% in the coming years. In 2021, the global cosmetic skin care products market was valued at USD 55.1 Billion and is projected to reach at value of USD 81.3 Billion by 2028. The demand for cosmetic skin care products is projected to increase substantially in the coming years and is presumed to generate revenue opportunity for the key industry players that worth USD 26.2 billion during the forecast period between 2022 and 2028.

How is Technology Impacting Cosmetic Skin Care Products Market?

Skincare products have benefits such as softening the skin and renewing cells, resulting in a more youthful appearance. Artificial intelligence (AI) and IoT-based gadgets that provide individualised skin nutrition solutions to individuals are gaining traction in the beauty & personal care market, which is predicted to drive product demand. For example, Shiseido Company Limited announced "Optune," a new IoT-based service that tells about skincare requirements depending on an individual's skin condition, in July 2019. To establish a customer base, Kao Corporation and L'Oréal created AI-based skincare products. For example, in January 2020, L'Oréal introduced the 'Perso,' a revolutionary 3-in-1 gadget that will utilise AI to assess the user's skin pattern and dispense the appropriate amount of lotion, serum, or cream. As a result, tech-savvy individuals are projected to experiment with new technologies, resulting in market growth.

Interesting Facts about Cosmetic Skin Care Products Industry

  • The top 5 countries for cosmetic skin care products exports are France, Singapore, Japan, United States, and China.
  • The top 5 importers of cosmetic skin care products are China, United States, Singapore, United Kingdom, and Germany.
  • The rising quality of life, the favorable impacts of beauty and personal care on self-esteem and social connection, and the progressive consumer trend toward premium and luxury cosmetic brands are all expected to drive market expansion throughout the projection period.
  • Regular use of cosmetic products for an extended period of time can harm the skin, causing irritation, redness, burning sensations, discoloration, and skin cell aging. This is projected to hinder the growth of the cosmetic skin care products market over the forecast period.
  • In terms of volume and value, the Asia Pacific region dominated the cosmetic skin care products market in 2021, and this dominance is expected to continue during the forecast period.
  • Due to the large availability of numerous categories of personal care items under one roof, supermarkets/hypermarkets are expected to contribute a significant portion of the industry.

Who are the Top 10 players/companies in Cosmetic Skin Care Products Market in term of value and volume?

The key players in the global cosmetic skin care products market in terms of value and volume include L'Oreal S.A, The Estee Lauder Companies, Kao Corporation, Beiersdorf, Unilever, Procter & Gamble, Avon Products, Johnson & Johnson, and Natura & Co. These major players are focusing on new product development and technological innovation in order to improve their cosmetic skin care products production and achieve a competitive market share on a global scale. Furthermore, some regional and country-level players are heavily spending to diversify their product portfolios and increase sales. For instance, Hale Cosmeceuticals, a well-known product maker in the United States, debuted two natural component products for the US market in June 2021: Natural AZA Cleanser and Date Palm Deep Moisturizer. Additionally, in July 2021, Shiseido Co. Ltd. has announced the launch of ULTIMUNE Power Infusing Concentrate III, a new version of the famous serum ULTIMUNE Power Infusing Concentrate N. The product will be sold in around 380 stores across the country, as well as on the company's beauty website, watashi+.

Who are the Top 10 Countries in the Cosmetic Skin Care Products Market?

In the global cosmetic skin care products market, the major countries are China, India, the U.S., Canada, Mexico, the U.K., Germany, France, Russia, Italy, and Australia. The rise of the chemical sector in India and China, both of which have regulatory support, is predicted to ensure continuing raw material access to skincare product makers. Over the forecast period, this will be a positive aspect for the Asia Pacific market. China is one of the main contributors to the worldwide cosmetics and skin care products market's growth, both in terms of consumption and production. Various government policies are also boosting the country's demand for skin care goods.

Which is the Key Application Area in the Cosmetic Skin Care Products Market?

Beauty Specialist Retail Outlets are specialty stores where all cosmetic products are available and clients may physically inspect product specifics. These establishments supply customers with personalized kits featuring a variety of cosmetic products that are packaged together and sold at a discounted price in order to attract customers. Cosmetic boutiques, as opposed to hypermarkets and supermarkets, have a greater availability of newly introduced and latest products. Additionally, attendants in cosmetic stores are taught to assist customers in purchasing specific goods based on their needs. As a result, these variables are likely to improve the cosmetic store segment's growth.

Due to the large availability of numerous categories of personal care items under one roof, supermarkets/hypermarkets are expected to contribute a significant portion of the industry. The convenience and ease with which such products can be purchased from supermarkets/hypermarkets is likely to boost sectoral growth. Due to the widespread availability of branded skin support goods on online shopping sites such as Myntra, Amazon, Flipkart, and others, online channels play an important part in the segment's growth. The products are widely available at discounted prices on different purchasing platforms, and they are subject to cashback and easy return policies, boosting the segment's growth.

What are the Major Driving Factors for Cosmetic Skin Care Products Market?

The need for skin nourishment products has increased as a result of rising worries about skin nourishment caused by a variety of issues such as the increased occurrence of acne, black spots, scars, dullness, and tanning. The younger demographic is more interested in skin brightening products, toners, and scrubs, whereas the older group is more interested in treatments that address wrinkles or cracked heels. Consumer purchasing patterns on premium beauty care items are expected to change, supporting the market's overall growth. Moreover,  the notion of creams, serums, and moisturisers infused with natural components is likely to see significant demand over the forecast period, owing to the growing consumer inclination toward natural beauty products. Such products are thought to be more effective and have fewer or no negative effects, leading to a surge in their use among customers.

What are the Major Restraints for Cosmetic Skin Care Products Market?

Regular use of cosmetic products for an extended period of time can harm the skin, causing irritation, redness, burning sensations, discoloration, and skin cell aging. Some skin nourishing products are designed specifically for certain skin types, such as dry or oily skin. Consumers, on the other hand, tend to buy products based on the brand name and neglect other product characteristics, which can harm their skin. Furthermore, due to specific components that are not good for the individual, a few products might cause allergic responses and the development of pimples. Excessive use can potentially lead to serious problems, such as skin cancer such as melanoma. As a result, these are some of the most significant stumbling blocks to market expansion.

Which Region Dominated the World Cosmetic Skin Care Products Market?

Because of the rising standard of life, the growing working-class population, and the growing purchasing power of the population in the region, Asia Pacific is likely to hold a substantial proportion. Furthermore, in nations such as China, India, Japan, and others, changing lifestyles and rising disposable income have resulted in greater expenditure on well-being and personal care goods, fueling product demand. Furthermore, greater awareness of skin-nourishing products as a result of enhanced availability to a diverse variety of brands is likely to drive the skincare industry in the Asia Pacific to new heights. For example, according to the Japan Cosmetics Industry Association, skincare products had the highest market share in 2018, accounting for 50.1 percent of total cosmetics shipments in Japan, whereas the shipment of lotions increased from USD 1,519.29 million in 2016 to USD 1,876.77 million in 2018, according to the same source.

From 2022 to 2028, North America is predicted to grow at a CAGR of 4.3 percent. Consumers in North American countries like the United States and Canada are willing to spend a premium for a more youthful appearance as well as brighter, glowing skin. Personalized beauty products are predicted to grow in popularity as customer demand for specialized skincare treatments grows, as does consumer awareness of certain chemicals. The presence of well-known product manufacturers in North America, such as Procter & Gamble and Unilever, as well as expanding infrastructural facilities for retailers, are likely to promote skin care product demand.

Segmentation of Global Cosmetic Skin Care Products Market-

Global Cosmetic Skin Care Products Market – By Type

  • Skin Moisturizers
  • Skin Cleansing Lotions
  • Skin Facial Masks
  • Skin Shaving Creams
  • Skin Serums
  • Others

 Global Cosmetic Skin Care Products Market – By Application

  • Supermarkets and Grocery Retailers
  • Beauty Specialist Retail Outlets
  • Factory Outlets
  • Online Sales

Frequently asked questions about global Cosmetic Skin Care Products industry

The COVID-19 pandemic has wreaked havoc on the cosmetics and beauty industries. Store closures as a result of rigorous lockdown procedures had severe results, with global sales falling by 60-70 percent between March and April 2020.

In terms of both value and volume, Asia Pacific held the largest proportion of the worldwide cosmetic skin care product market.

The rising quality of life, the favorable impacts of beauty and personal care on self-esteem and social connection, and the progressive consumer trend toward premium and luxury cosmetic brands are all expected to drive market expansion throughout the projection period.

Skin moisturizers are likely to account for a significant portion of the market. They're used for moisturizing, brightening, tan removal, acne treatment, oil reduction, dark circle removal, sleep cream, and sun protection, among other things.

In 2021, Beauty Specialist Retail Outlets held a significant share of the global market, and this dominance is expected to continue during the forecast period.

Cosmetic Skin Care Products Market Scope

Report Attribute Details
Market Value in 2021 USD 55.1 Billion
Market Value in 2028 USD 81.3 Billion
CAGR 6.7%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Trusted By
Godaddy
Published Date:  Jul 2022
Category:  Medical Devices
Report ID:   58551
Report Format:   PDF
Pages:   210
Rating:    4.7 (75)
Delivery Time: 24 Hours to 48 Hours   
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