Skincare Sector Landscape – Consumer Behavior, Innovations, News and Deals Analysis
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The skincare market size was $177.01 billion in 2021. The market is expected to achieve a CAGR of more than 26% during 2022-2026. The sector saw a significant decline in volume and value in 2020 and is not expected to recover to pre-pandemic volumes by 2026.
The skincare market research report provides an overview of market characteristics and shopping behavior driving innovation in the skincare sector.
To gain more information on the skincare market forecast, download a free report sample
Key Market Trends in the Skincare Market
Sustainability: Sustainability is a major trend within the skincare industry and key brands are spending more time and money to ensure production practices are greener. There is also greater consumer demand for recyclable/refillable packaging.
Simple Skincare Routines: The COVID-19 pandemic reduced the need to wear makeup as consumers worked from home and socialized less as a result consumers simplified their skincare routines and invested in multi-functional products to ensure they used fewer products.
Personalization: Brands are widening ranges of skincare products to suit all ethnicities and are raising awareness of skin equality. Brands are creating ingredient-led skincare ranges based on hero ingredients such as vitamin C so that consumers can use a combination of products that best suit their needs, offering greater personalization.
Freezing Time: As consumers invest in their self-care routines at the height of the COVID-19 pandemic, many discovered preventative skincare products as part of wanting to look healthy and more natural. The increased use of filters on social media to create smooth skin, for example, meant consumers wanted to recreate this look in real life.
Ethical Luxury: High-quality products and ingredients are perceived to provide the greatest value for money. Consumers are seeking to purchase from brands that are ethically responsible and have product ranges that are vegan-friendly and cruelty-free as consumers become more environmentally and socially conscious.
Skincare Market Segmentation by Regions
The key regions in the skincare market are Asia, West Europe, Latin America, North America, East Europe, Middle East & North Africa, Australasia, and Africa. Asia has the highest market share in the skincare market followed by West Europe and Latin America.
Skincare Market Analysis by Regions
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Skincare Market Segmentation by Categories
The key categories in the skincare market are make-up remover, hand care, facial care, depilatories, and body care. The facial care category accounts for the largest proportion of the overall skincare sector. However, body care and depilatories are set to experience the fastest growth in value between 2020 and 2024, due to consumers continuing to invest in their health & wellness post-pandemic.
Skincare Market Analysis by Categories
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Competitive Landscape
Some of the key players in the skincare market are L’Oreal, Unilever, Estee Lauder, Beiersdorf, Nivea, Verily, APC Packaging, Neutrogena, Selfridges, Shiseido, Accenture, Cipla, Clensta, Central Group, and Carl Icahn.
Skincare Market Report Overview
Market Size (2021) | $177.01 billion |
CAGR (2022 – 2026) | >26% |
Key Regions | Asia, West Europe, Latin America, North America, East Europe, Middle East & North Africa, Australasia, and Africa |
Key Categories | Make-Up Remover, Hand Care, Facial Care, Depilatories, and Body Care |
Key Players | L’Oreal, Unilever, Estee Lauder, Beiersdorf, Nivea, Verily, APC Packaging, Neutrogena, Selfridges, Shiseido, Accenture, Cipla, Clensta, Central Group, and Carl Icahn |
Key Highlights
- While COVID-19 has hampered retail performance, the skincare sector is forecast to rebound quickly.
- The surge in e-commerce growth at the height of the pandemic has been significant and it will continue to be a key channel.
- Consumers purchasing skincare value high quality.
Reasons to Buy
- Identify the impact of COVID-19 on the skincare industry and assess the performance of individual categories.
- Discover where the market is going and how consumers react to the latest innovations.
- Access valuable strategic take-outs to assist future decision-making and product development.
Unilever
Estee Lauder
Beiersdorf
Nivea
Verily
APC Packaging
Neutrogena
Selfridges
Shiseido
Accenture
Cipla
Clensta
Central Group
Carl Icahn
Herballife
DECEIM Beauty
SIGNA
Pixi
Nkyaa
NYX
Covergirl
e.l.f.
DM Balea
Kneipp
Red Baby Elephant
Blue Lizard
Aries Biokosmetik
Table of Contents
Frequently asked questions
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What is the skincare market size in 2021?
The skincare market size was $177.01 billion in 2021.
-
What is the skincare market growth rate?
The skincare market is expected to grow at a CAGR of more than 26% during 2022-2026.
-
Which are the key regions in the skincare market?
The key regions in the skincare market are Asia, West Europe, Latin America, North America, East Europe, Middle East & North Africa, Australasia, and Africa.
-
What are the key categories in the skincare market?
The key categories in the skincare market are make-up remover, hand care, facial care, depilatories, and body care.
-
Who are the key players in the skincare market?
Some of the key players in the skincare market are L’Oreal, Unilever, Estee Lauder, Beiersdorf, Nivea, Verily, APC Packaging, Neutrogena, Selfridges, Shiseido, Accenture, Cipla, Clensta, Central Group, and Carl Icahn.
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