Global Skin Care Products Market By Gender, By Product Type, By Distribution Channel, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Skincare Products Market Overview:

The global Skin Care Products market is projected to reach a valuation of USD 226.59 Bn by 2032 at a CAGR of 5.1%, from USD 137.79 Bn in 2022.

The market growth forecast is likely influenced by the increasing demand for skin care products, including sunscreens and body lotions, across the globe. The growing e-commerce sector will further boost the market share.

Global Skin Care Products Market Scope:

Gender Analysis

In 2021, the female segment accounted for the highest revenue share at over 62.2%. It is expected to continue its lead in the future. The segment’s growth is driven by women adding personal grooming products into their daily lives to improve their appearance and confidence.

Women are increasingly conscious of the importance and benefits of self-care, which has led to them creating relaxing home-based skincare routines. This is driving demand for skincare products that contain active ingredients with healing and nourishing properties.

From 2023 to 2032, the male market is expected to grow at 5.5%. The main factors driving the growth rate of the men’s skincare market are increasing awareness about skincare, self-grooming, and being healthy looking. Also, celebrity endorsements and increased product launches are major factors in driving the growth of the men’s skincare market and creating lucrative opportunities during the forecast period. Men now look for more than just traditional skincare products, such as razors, deodorants, and face washes. They want to use organic skincare products that target anti-aging products and sun protection creams. In the near future, men will be more interested in anti-aging creams or sunscreens.

Product Type Analysis

Moisturizers and face creams held the largest revenue share at over 41% in 2021. They are expected to continue their lead during the forecast period. Moisturizers and face creams are the most popular cosmetic products because they are often used.

Moisturizers offer benefits like instant hydration and reduced breakouts. They also provide quick and easy solutions for dry skin. Due to increased consumer awareness about animal welfare and the environment, many people are choosing cruelty-free products for their skin. This has led to a demand for vegan skincare products or blends of plant-based ingredients. This opens up the possibility of significant growth for the moisturizers and face creams market.

From 2023 to 2032, the shaving creams and lotions segment is expected to experience the fastest CAGR at 5.1%. This is due to a growing number of people being a part of corporate culture and giving more importance to personal care. The market will be driven by higher spending. The majority of consumers shave their faces to remove facial hair. Market growth is expected to be positive due to rising awareness about self-grooming and increasing disposable income. The demand will be further boosted by advertising, social media blogs, and YouTube channels.

Some environmental issues like the rising congestion, rising carbon footprint, and pollution are increasing the Ultraviolet rays that are harmful to our skin. By adopting more advanced manufacturing technologies in which low energy and fewer resources are required, manufacturers are focusing on reducing the carbon footprint.

Distribution Channel Analysis

In 2021, the supermarkets and hypermarkets sector held the largest revenue share at over 39.8%. Supermarkets and Hypermarkets offer consumers significant benefits, including lower prices and the visibility of international brands. This channel strategy makes them an ideal platform for all customers.

Creating new sales channels and distribution across various segments, skincare product brands might invest in marketing and advertising their products to capture shoppers and customers. In the competitive beauty market, brands work hard for loyal customers and product fans.

Кеу Маrkеt Ѕеgmеntѕ

By Gender

• Female
• Male

By Product Type

• Face Creams & Moisturizers
• Cleansers & Face Wash
• Shaving Lotions & Creams
• Body Creams & Moisturizers
• Other Product Types

By Distribution Channel

• Supermarkets & Hypermarkets
• Pharmacy & drugstore
• Convenience Stores
• Online
• Other Distribution Channel

Market Dynamics:

The COVID-19 pandemic has had devastating effects on the beauty and cosmetics industries. The disastrous effects of strict lockdown measures led to store closures and sales dropping by 60-70% between 2019 and 2020 worldwide. Companies responded positively to the crisis, offering hand soap and cleaning products. This was in response to consumers spending less on beauty and grooming products.

In the U.S., personalized products are gaining popularity. Consumers give preference to chemical-free products which contain natural and organic ingredients. This is due to the increasing consumer preference for natural skin nourishment products. The skin care market demand for creams, serums, and moisturizers with natural ingredients will be significant over the forecast period. These products are more effective and have fewer side effects. This will increase their popularity among consumers and it will create various growth opportunities for the skincare industry.

As people become more conscious about their appearance and are more concerned with skin conditions and malignancies, moisturizers, sun protection creams, and face creams are gaining popularity. Due to their increasing concern for animal welfare, many people are choosing cruelty-free products. This has led to a rise in demand for vegan and plant-based products. To meet the changing requirements of customers, small and medium-scale manufacturers are focusing on developing innovative products.

Online distribution has had a significant impact on people’s shopping habits. It offers many benefits, including doorstep delivery, easy payment methods, and the ability to access a large range of products from one platform. Due to increasing internet penetration and the growing propensity for mobile shopping among consumers, key players are launching e-commerce websites in lucrative markets.

Regional Analysis

The Asia Pacific accounted for the highest revenue share, greater than 36% in 2021. Both India and China are expected to expand their chemical industries, supported by regulatory support. This will ensure that skincare product manufacturers have continuous raw material access and, thus, will be a positive for the market in the Asia Pacific during the forecast period.

The skincare products market has been divided across regions into the Asia-Pacific region, the American region, the European region, the Latin America region, and the Middle East and African region.

China is a major contributor to the global cosmetics and skin care products market growth in production and consumption. The product demand for organic skin care products is also being encouraged by various government policies.

From 2023 to 2032, North America will experience a 4.1% CAGR. North American regions consumers, such as Canada and the U.S., are willing to pay more for a youthful appearance and brighter skin. Personalized beauty products will be more popular due to rising consumer demand for customized skincare products and increased awareness about specific ingredients.

Procter & Gamble Company, Unilever, and other well-respected product manufacturers are expected to increase the product demand for advanced skin care products.

Key Regions and Countries covered іn thе rероrt:

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Competitive Landscape:

There are a few well-established players in the market, as well as new entrants. Companies have expanded their product ranges by adding new and innovative skin products to increase their consumer base. Shiseido Co. Ltd., for example, announced 2021 the launch of Ultimune Power Infusing Concentrate III Japan. This product is a renewal and enhancement of the famous serum Ultimune POWER Infusing Concentrate N. It will also be available on the company’s beauty website, watashi+.

Beiersdorf AG’s NX NIVEA accelerator expanded into China in 2021 and selected five top startups to start a program in Shanghai. T-mall, China’s largest e-commerce platform, signed a partnership agreement. The brand will focus on collaboration with beauty startups in the areas of beauty technology, personalization, and indie brands.

P&G’s Good Skin MD launched in 2021 on both CVS Pharmacy’s online and offline stores. It will offer six products: sunscreen, vitamin C, vitamin B serums, night creams, rescue creams, and a cleaner.

Some prominent players in the skin care products market are Beiersdorf AG, Shiseido Co. Ltd., Procter & Gamble, Unilever Plc, Estee Lauder Companies Inc., and Others.

The following are some of the major players in the global market for skin care products:

Маrkеt Кеу Рlауеrѕ:

• L’Oréal S.A.
• Beiersdorf AG
• Shiseido Co., Ltd.
• Procter & Gamble
• Unilever Plc
• Johnson & Johnson Inc.
• Avon Products, Inc.
• Coty Inc.
• Colgate-Palmolive Company
• Revlon
• Other Key Players