According to the Market Statsville Group (MSG), the global skin care market size is expected to grow from USD 112.28 billion in 2022 to USD 193.28 billion by 2033, at a CAGR of 5.6% from 2023 to 2033. Skin care products include creams, lotions, and powders, which improve the quality and health of the skin and provide nourishment. These products are used daily by a number of women as well as men for various purposes such as moisturizing, hydrating, and cleansing, among others. In recent times, the trend for organic and herbal skin care is in trend. This is because people are aware of the adverse effects of synthetic chemicals on the skin. Ingredients that are derived from natural products such as leaf extracts and root extracts are safe for use on the skin as they do not show any side effects.

Definition of the Global Skin Care Market

Skin care products are used often by the general population in order to preserve and enhance the appearance of the face as well as other regions of the body. The majority of buyers of these products are women but, due to shifting lifestyles, male buyers are becoming increasingly interested in purchasing them as well. Face masks, creams, lotions, moisturizers, and conditioners are just a few of the goods that are included in the Skin Care line of products. These products are helpful in a variety of ways, including conditioning the skin, protecting it from environmental dust, oil, and pollutants, and cleaning the skin of makeup and dirt.

Global Skin Care Market Dynamics

Drivers: Raising personal appearance awareness across all age groups to spur demand

Rising concerns regarding skin nourishment due to many factors such as the increasing occurrence of acne, black spots, scars, dullness, and tanning have increased the demand for skin nourishment products. Skin brightening products, toners, and scrubs are witnessing higher demand from the younger population, whereas products that provide the solution to wrinkles or cracked heels are gaining major traction owing to its increasing demand from the aged population. Changing lifestyle and spending patterns of consumers on premium beauty care products is projected to support the overall growth of the market.

Restraints: Excessive use and misuse can cause cell damage and obstruct growth

Regular use of cosmetic products for an extended time can damage the skin, which can result in skin irritation, redness, burning sensation, discoloration, and rapid aging of skin cells. Some of the skin nourishment products are only meant to be used for particular skin types, such as dry skin or oily skin. However, consumers tend to purchase products by focusing on brand name and ignore other product details, which tend to damage their skin. Moreover, few products can also show allergic reactions and the development of pimples due to certain ingredients used, which are not suitable for the particular individual. Furthermore, excessive use can also lead to severe issues, including skin cancer such as melanoma. Therefore, these are some of the major restraining factors responsible for hampering the market growth.

Opportunities: Increasing demand for sustainable products is expected to fuel market growth

Consumers are now focusing on their healthcare with the use of skin nourishment products and are also inclined towards using environmentally friendly products. For instance, exfoliating skincare products contain plastic beads, which are a major concern for plastic pollution; therefore, consumers are inclined towards using products that do not contain plastic beads. Companies such as BioPowder are taking initiatives for developing biodegradable microbeads intended to be used in exfoliating products, which will not lead to any waste generation. Moreover, manufacturers are focusing on reducing the carbon footprint by adopting improved manufacturing technologies where low energy and resources are required..

Scope of the Global Skin Care Market

The study categorizes the skin care market based on product, type, application, distribution channel, and end-user area at the regional and global levels.

By Product Outlook (Sales, USD Billion, 2019-2033)

• Creams
• Lotions
• Powders
• Sprays
• Others

By Packaging Type Outlook (Sales, USD Billion, 2019-2033)

• Tube
• Bottle
• Jar
• Others

By Gender Outlook (Sales, USD Billion, 2019-2033)

• Men
• Women

By Distribution Channel Outlook (Sales, USD Billion, 2019-2033)

• Offline Distribution Channel
• Online Distribution Channel

By Region Outlook (Sales, USD Billion, 2019-2033)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

Cream segment accounts for the largest market share by Product

Creams are expected to hold a major share. They are used for a wide range of applications such as moisturizing, brightening, tan removal, acne removal, oil reduction, dark circle removal, night cream, and sun protection. The shower cream creates a soft foaming application enhanced with nourishing sweet almond oil and anti-oxidising vitamin E for eliminating the appearance of wrinkles and fine lines.

Asia pacific is expected to accounts the highest market share by Region

Asia Pacific is expected to hold a significant share owing to the rising standard of living, increasing the working-class population coupled with the increasing spending power of the populace in the region. Additionally, the changing lifestyle and increasing disposable income of the populace in countries such as China, India, Japan, and others have resulted in increased spending on well-being and personal care products, which will foster the product demand.

Key Market Players in the Global Skin Care Market

The skin care market has significant competitors and extremely cutthroat in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.

Major key players in the global skin care market are:

• L’Oréal S.A.
• The Estée Lauder Companies Inc.
• Shiseido Company Ltd.
• Unilever
• Johnson and Johnson
• Beiersdorf AG
• Avon Products Inc.
• Colgate-Palmolive Company
• Revlon Inc.
• Procter & Gamble Company

Key Issues Addressed

• What is the market size by various segmentation of the skin care by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the skin care market?
• What are the key opportunities and trends for manufacturers involved in the skin care supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of skin care in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.