Transparency Market Research delivers key insights on the global cosmetic skin care market. In terms of revenue, the global cosmetic skin care market is estimated to expand at a CAGR of 4.5% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global cosmetic skin care market.
Companies are investing in R&D to launch an exclusive collection of cosmetic skin care products. Manufacturers are expanding their product lines to meet the increasing demand for cosmetic skin care products. Increased disposable income in key markets across the world is linked to a rise in consumption activity, owing to the increased capacity to spend. This factor drives the global cosmetic skin care market.
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In terms of type, the non-medicated segment is expected to hold major market share. The fast expansion of the segment can be attributed to a larger number of product innovations and customized solutions on offer.
Based on product type, antioxidants as a product category is projected to expand the fastest as a result of a rapidly aging population. Consequently, more individuals are expected to adopt anti-aging products of which antioxidants are a major constituent.
In term of form, creams segment is anticipated to hold major market share as compared to other cosmetic skin care forms. Cream is the preferred choice among end-users (men and women). Other cosmetic skin care in the form of gel & lotions, oils, sheet masks, and powder are also anticipated to expand at a significant growth rate during the forecast period
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Based on application area, facial care segment is expected to hold major market share. Face cosmetic skin care is gaining increasing popularity globally as people are becoming more conscious of their physical appearance. This factor is expected to have a positive impact on the face cosmetic skin care segment during the forecast period.
Based on end-user, the cosmetic skin care market for men is still at a nascent stage and would exhibit tepid growth. The expansion of this segment would be influenced by a number of factors such as cultural influences, new product launches, and consumer awareness.
In terms of distribution channel, larger brands of cosmetic skin care products prefer retailing through brick-and-mortar stores and their smaller peers take to the online route to reach out to newer markets and consumers. This trend is set to change as the role of e-commerce across products and services witnesses a greater and growing prominence.
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The cosmetic skin care market in Asia Pacific is expected to expand at a notable growth rate during the forecast period both in terms of value (US$ Bn) and volume (million units). The market in Asia Pacific witnessed considerable expansion due to increasing disposable income in Japan, China, and India. The popularity and growth of larger cosmetic brands, whose products tend to be more expensive, is proof of the fact that people are increasing their spending on skincare solutions.
Key players operating in the global cosmetic skin care market are BeiersdorfAG.srl, Coty Inc, Estée Lauder Inc, Galderma Laboratories L.P, Johnson & Johnson Consumer Inc., L’ORÉAL PARIS, Procter & Gamble, Revlon, Shiseido Company, and Unilever.
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