Skin Care Products Industry Overview
The global skin care products market size was valued at USD 130.50 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.6% from 2022 to 2030. Escalating demand for face creams, sunscreens, and body lotions across the globe is expected to have a positive impact on the market growth over the forecast period. Moreover, the flourishing e-commerce sector is anticipated to boost market growth further.
The COVID-19 pandemic has had a devastating impact on the beauty and cosmetics industry. Store closures due to strict lockdown measures resulted in disastrous consequences, with sales decreasing by 60-70% from March to April 2020 globally. The companies responded positively to the crisis by addressing and increasing their production capacities by offering hand sanitizers and cleaning agents, as consumers spent less on beauty and grooming products.
Personalized products have been gaining traction among consumers in the U.S. With the growing consumer inclination toward natural beauty products, the concept of creams, serums, and moisturizers infused with natural ingredients is expected to witness significant demand over the forecast period. Such products are considered to be more effective and have few or no side effects, which, in turn, is expected to increase their application among consumers.
Gather more insights about the market drivers, restrains and growth of the Global Skin Care Products market
Increasing investments in the research & development of products, coupled with the rising trend of natural ingredient-based skincare products, have encouraged manufacturers to launch new products. For instance, in June 2021, Hale Cosmeceuticals, a well-established product manufacturer in the U.S., launched two natural ingredient products - Natural AZA Cleanser and Date Palm Deep Moisturizer - for the U.S. market.
Face creams and moisturizers are gaining increasing popularity globally, as people are becoming more conscious of their physical appearance along with being more concerned about skin disorders and malignancies of the skin. Furthermore, with a rising number of consumers opting for cruelty-free products due to their increased consciousness regarding animal welfare and the environment, the demand for vegan or blends of plant-based ingredients in these products has increased.
The online distribution channel has significantly changed the shopping habits of people as it offers benefits such as doorstep delivery, easy payment methods, heavy discounts, and the availability of a wide range of products on a single platform. Key players in the market are increasingly launching e-commerce websites in large lucrative markets owing to the rising internet penetration and increasing propensity of mobile shopping among consumers.
Browse through Grand View Research's Beauty & Personal Care Industry Research Reports.
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- Nail Care Products Market - The global nail care products market size was valued at USD 19.10 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.2% from 2022 to 2030. Nail care has become an integral part of personal grooming, with nail polish and nail art becoming particularly popular in the corporate and fashion industries.
Skin Care Products Market Segmentation
Grand View Research has segmented the global skin care products market on the basis of gender, product, distribution channel, and region:
Skin Care Products Gender Outlook (Revenue, USD Million, 2017 - 2030)
- Male
- Female
Skin Care Products Outlook (Revenue, USD Million, 2017 - 2030)
- Face Creams & Moisturizers
- Cleansers & Face Wash
- Sunscreen
- Body Creams & Moisturizers
- Shaving Lotions & Creams
- Others
Skin Care Products Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
- Supermarkets & Hypermarkets
- Convenience Stores
- Pharmacy & Drugstore
- Online
- Others
Skin Care Products Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights
- July 2021: Shiseido Co. Ltd. announced the launch of ULTIMUNE Power Infusing Concentrate III in Japan, which is a renewal of the iconic serum ULTIMUNE Power Infusing Concentrate N. The product will be available in approximately 380 stores nationwide and on its beauty website watashi+.
- June 2021: P&G’s GoodSkin MD was launched on CVS Pharmacy’s offline and online stores. The brand will be offering six products: sunscreen, vitamin C and vitamin B serums, a night cream, a rescue cream, and a cleanser.
Key Companies profiled:
Some prominent players in the global skin care products market include:
- L’Oréal S.A.
- Beiersdorf AG
- Shiseido Co., Ltd.
- Procter & Gamble (P&G)
- Unilever
- Johnson & Johnson, Inc.
- Avon Products, Inc.
- Coty Inc.
- Colgate-Palmolive Company
- Revlon
Order a free sample PDF of the Skin Care Products Market Intelligence Study, published by Grand View Research.
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