Skin Care Products Market Application Outlook and Research Report

Skin Care Products Industry Overview

The global skin care products market size is expected to reach USD 196.20 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.6% from 2022 to 2030. The rising concerns over skin problems are driving the skincare products industry. The growing demand for concern-specific skincare products such as face creams, body lotions, shaving lotions and creams, and face sunscreens is likely to fuel the overall demand.

Rising awareness regarding the various benefits of using skincare products has resulted in a rise in their demand over the last few years. Moreover, an inclination toward natural and organic skincare products is observed, making it a major sector in the cosmetics and wellness industry. Organic products are derived from natural resources and are free from harmful chemicals.

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:

Based on the Gender Insights, the market is segmented into Male and Female

• The female segment held the largest revenue share of over 60.0% in 2021 and is expected to maintain its lead over the forecast period.
• Women are increasingly adding personal grooming products to their daily routines to enhance their confidence and appearance, which is significantly contributing to the segment growth.
• The male segment is projected to register the fastest CAGR of 5.0% from 2022 to 2030. The growing awareness among males regarding personal hygiene and regular grooming, increased product launches, celebrity endorsements, and rising disposable income are the major factors fuelling the expansion of the men's skincare

Based on the Products Insights, the market is segmented into Face Creams & Moisturizers, Cleansers & Face Wash, Sunscreen, Body Creams & Moisturizers, Shaving Lotions & Creams, and Others

• Face creams and moisturizers held the largest revenue share of over 40.0% in 2021 and are expected to maintain their lead over the forecast period.
• Furthermore, with a rising number of consumers opting for cruelty-free skincare products due to their increased consciousness about animal welfare and the environment, the demand for vegan or blends of plant-based ingredients in skincare products has increased.
• The shaving lotions and creams segment is projected to register the fastest CAGR of 5.5% from 2022 to 2030. The growth is mainly owing to an increasing number of people becoming a part of corporate culture and giving importance to personal grooming.

Based on the Distribution Channel Insights, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Pharmacy & Drugstore, Online, and Others

• The supermarkets and hypermarkets segment held the largest revenue share of over 40.0% in 2021. Supermarkets and hypermarkets offer significant advantages to consumers, such as freedom of selection, lower prices, and high visibility of international brands, which makes them a suitable platform for all types of customers.
• The convenience stores channel is projected to register a CAGR of 4.9% from 2022 to 2030. Some customers choose to buy these products from such stores because of the ease of purchase, their extensive network, and the ability to purchase the same products on a regular basis. Such stores accommodate more cosmetic and skin-oriented products owing to the growing consumer preference for the same.

Skin Care Products Regional Outlook

• North America
• Europe
• Asia Pacific
• South & Central America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market is characterized by the presence of a few established players and new entrants. Companies have been expanding their product portfolios by incorporating new and innovative skin care products to widen their consumer base. For instance, in 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+.

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 Services, 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.