DUBLIN--(BUSINESS WIRE)--The "Global Skin Care Products Market" report has been added to ResearchAndMarkets.com's offering.
The global Skin Care Products market was valued at USD 134,700 million in 2020 which expected to reach USD 188,240 million by 2027 at a CAGR 4.8% from 2020-2027.
Medical skin care products are used to improve the appearance of the skin or to treat certain skin conditions. The cosmetics industry is flourishing, and skin care is a significant component of it. People are so concerned with their appearance that they spend a lot of money on skin care products and treatments. People are becoming more technologically aware of the different new skin care products that are currently available on the market.
Market Drivers
Increasing Personal Grooming Awareness among All Age Groups to Increase Demand. The need for skin nourishment products has developed as a result of rising worries about skin nourishment caused by a variety of issues such as the increased occurrence of acne, black spots, scars, dullness, and tanning. The younger demographic is more interested in skin brightening treatments, toners, and scrubs, whereas the older group is more interested in products that address wrinkles or cracked heels.
Market Restraints
Excessive and improper use can damage cells and obstruct growth due to regular use of cosmetic products for an extended period of time can harm the skin, causing irritation, redness, burning sensations, discoloration, and skin cell aging. Some skin nourishing products are designed specifically for certain skin types, such as dry or oily skin.
Impact of COVID-19
Companies are having difficulty physically seeing their channel partners and finalizing business deals due to COVID-19 lockdown restrictions in several nations throughout the world. The companies' product revenues are being impacted as a result of this. Furthermore, issues like as the closure of beauty retail establishments and cosmetic enterprises, as well as a lack of raw material supplies as a result of the tight restrictions, may significantly reduce the pace of product consumption among the global population.
Market Segmentation
The Global Skin Care Products Market is segmented into Gender, Product, Distribution Channel and Growing System. By Gender such as Female, Male. Further, market is segmented into By Product such as Face Creams & Moisturizers, Cleansers & Face Wash, Sunscreen, Body Creams & Moisturizers, Shaving Lotions & Creams, Others. By Distribution Channel such as Supermarkets & Hypermarkets, Convenience Stores, Pharmacy & Drugstore, Online, Others.
Regional Analysis
Global Skin Care Products Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific has the largest market share and is expected to dominate the market during the forecast period. The rising standard of life, the growing working-class population, and the growing purchasing power of the population in the region, Asia Pacific is likely to hold a substantial proportion. According to a report on FMCG issued in May 2018 by THE India Brand Equity Foundation, overall consumption expenditure in India was USD 1,595 billion in 2016, and is expected to reach around USD 3,600 billion by 2020.
Key Players
Various key players are listed in this report such as L'Oreal S.A., Beiersdorf AG, Shiseido Co., Ltd., Procter & Gamble (P&G), Unilever, Johnson & Johnson, Inc., Avon Products, Inc., Coty Inc., Colgate-Palmolive Company, Revlon
Market Taxonomy
By Gender
- Female
- Male
By Product
- Face Creams & Moisturizers
- Cleansers & Face Wash
- Sunscreen
- Body Creams & Moisturizers
- Shaving Lotions & Creams
- Others
By Distribution Channel
- Supermarkets & Hypermarkets
- Convenience Stores
- Pharmacy & Drugstore
- Online
- Others
By Region
- North America
- Latin America
- Europe
- China
- Asia Pacific
- Middle East & Africa
Key Questions Addressed by the Report
- What are the Key Opportunities in Global Skin Care Products Market?
- What will be the growth rate from 2020 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
For more information about this report visit https://www.researchandmarkets.com/r/l2t7q2.
