Frequently Asked Questions
In 2022, the market for skin care products was estimated to be worth USD 135.2 billion.
The market for skin care products is anticipated to increase at a CAGR of 5.20% from 2023 to 2030, reaching USD 202.81 billion in 2030.
Cleansers and exfoliants are the most popular category of product type.
Normal Skin, by skin type, is the notable segment.
During the projection period, the retail stores category is anticipated to exhibit the highest CAGR.
The skin care products market was ruled by North America.
The top players include L’Oréal S.A.; Beiersdorf AG; Shiseido Co. Ltd.; Procter & Gamble (P&G); Unilever; Johnson & Johnson Services, Inc.; Avon Products, Inc.; Coty Inc.; Colgate-Palmolive Company; Revlon, and others.
The significant factors driving the growth of the skin care products market include the growing men’s grooming, K-Beauty influence, and the cooperation with celebrities and influencers, which can increase brand awareness and trust, which can increase skin care product sales.
The challenges limiting the growth of the skin care products market are product safety concerns, shifts in consumer behavior, and distribution challenges.
People are becoming more conscious of the significance of taking into account various backgrounds, skin tones, ages, and genders when it comes to skincare and cosmetics. Because of this, skincare companies are expanding their product lines to include more hues and formulations for all skin types and even all life stages, such as treatments that are suitable for use during pregnancy and lactation. This factor is expected to create opportunities for the global skin care products market.