The global skincare market size was valued at $128.2 billion in 2020 and is projected to grow at a CAGR of more than 3% during the forecast period. During the same period, the Asia-Pacific represented the largest region for the global skincare sector followed by the Americas and the Western Europe. In 2020, the facial care category held the highest value and volume shares. As the COVID-19 vaccination programs gather pace and some normalcy of life returns, consumers are poised to venture out more and increase their spend on skincare. This will bring back the demand for skincare products, which was affected during the pandemic as consumers cut down on non-essential purchases. The primary macroeconomic factors driving the global skincare sector include growing population and increasing urbanization rates.
Global skincare market overview
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What are the market dynamics of the global skincare market?
Skincare brands are utilizing the rising tech-savvy nature of consumers across the globe and are finding new avenues such as social media platforms to enhance brand awareness along with selling directly to consumers. Innovative and unique packaging plays a crucial role in differentiating a product and delivering an impactful effect to consumers. As consumers are becoming more aware of the therapeutic effects of natural ingredients on skin, they are switching to natural or chemical-free products. The emergence of “clean beauty” movement is expected to intensify the consumer scrutiny over ingredients and production processes of beauty products in the near future.
Hypermarkets & supermarkets was the leading distribution channel for skincare globally. Hypermarkets & supermarkets’ large share can be attributed to the developed organized retail industry in major countries. In addition, low prices, attractive loyalty programs, and in-store discounts/promotional offers are some of the appealing factors associated with private labels, promoted by large modern retail stores, also helped the hypermarkets & supermarkets channel.
What is the regional and country outlook of the global skincare market?
The key regions covered in the global skincare market forecast report are the Asia-Pacific, the Middle East & Africa, the Americas, Western Europe, and Eastern Europe. The report also provides detailed information on the skincare market in several countries including Thailand, South Korea, Australia, Canada, the US, the Netherlands, Spain, Poland, and Russia.
Skincare market in the Asia-Pacific
Asia-Pacific is set to be the fastest-growing region for skincare sector during the forecast period. Surge in online shopping among the Asian shoppers can be attributed to high penetration of broadband internet in countries including Japan and China, along with high smartphone penetration and the rapid adoption of advanced digital technologies. High potential countries in this region include South Korea, Thailand, China, Australia.
Skincare market in the Middle East & Africa
The region’s young population is the primary driver of the skincare sector growth, as more than half of the population was below the age of 25 in 2020. The demand for skincare in the Middle East & Africa is also driven by its large expatriate population. High potential countries in this region include Saudi Arabia, South Africa and Iran.
Skincare market in the Americas
The facial care category share is expected to increase in the Americas skincare sector during the forecast period. Millennials, who make up the largest market in the US, demonstrate a strong willingness to try new products and look for new and unique experiences.
Skincare market in Western Europe
Western Europe, the third-largest region in the global skincare sector, is expected to grow at a moderate pace over the forecast period on account of market saturation and slow population growth. High potential countries in this region include Germany, the UK, and France.
Skincare market in Eastern Europe
Increasing urban populations in Eastern European countries such as Poland and Turkey, is boosting the demand for skincare in Eastern Europe. In Eastern Europe, consumers are growing increasingly environmentally conscious as they become more aware of the environmental and health impacts of plastic waste and marine litter. To tackle these issues, the EU banned single-use plastics and microplastics, which are often used in personal care products, and plans to ensure all plastic packaging across Europe is either recyclable or reusable by 2030.
Global skincare market, by region
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What are the key categories in the global skincare market?
The key categories in the global skincare market are body care, facial care, hand care, depilatories and makeup up remover. Body care is the second largest skincare category in the global skincare sector. For each region, this skincare category shares a good value. The body care category dominated the skincare market in the Netherlands. Nivea and Shiseido are the leading brands in body care category. In 2020, the facial care category held the highest value and volume shares. The facial care category is set to be the fastest-growing category. The facial care category is expected to increase its share in the Americas skincare sector during the forecast period. Hand care is the third largest skincare category in the global skincare sector. Nivea was the leading hand care brand in 2020. Private labels accounted for largest share in hand care category. Depilatories account for the fourth highest category in the global skincare sector. It is estimated to grow during the forecast period. Veet dominated the depilatories category in 2020.
Global skincare market, by category
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Which are the key players in the global skincare market?
Beiersdorf Ag, Procter & Gamble, Shiseido Company Limited, Unilever, L’Oréal S.A., Johnson & Johnson Services Inc, Amorepacific Corporation, Kao Corporation, Mary Kay Inc., The Estée Lauder Companies Inc., Natura& Co, and Oriflame Cosmetics S.A. are the key players in the global skincare market.
Global skincare market, by key players
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Market report scope
| Market size (year – 2020) | $128.2 billion |
| Growth rate (CAGR) | >3% |
| Base year for estimation | 2020 |
| Forecast Period | 2021-2025 |
| Key categories | Body Care, Depilatories, Facial Care, Hand Care, And Make-Up Remover |
| Key regions | The Asia-Pacific, The Middle East & Africa, The Americas, Western Europe, and Eastern Europe |
| Key countries | Thailand, South Korea, Australia, Canada, the US, the Netherlands, Spain, Poland, and Russia |
| Key companies | Beiersdorf Ag, Procter & Gamble, Shiseido Company Limited, Unilever, L’Oréal S.A., Johnson & Johnson Services Inc, Amorepacific Corporation, Kao Corporation, Mary Kay Inc., The Estée Lauder Companies Inc., Natura& Co, and Oriflame Cosmetics S.A. |
- Provides an overview of current industry scenario regarding the future outlook in terms of ingredients, product claims, labelling, and packaging.
- The analysis also covers regional overview across five regions – Asia-Pacific, Middle East & Africa, Americas, Western Europe, and Eastern Europe – highlighting industry size, growth drivers, latest developments, and future inhibitors for the regions.
Reasons to Buy
- Manufacturing and retailers seek latest information on how the market is evolving to formulate their sales and marketing strategies. There is also demand for authentic market data with a high level of detail. This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities of growth within the sector in the region
- The report provides a detailed analysis of the countries in the region, covering the key challenges, competitive landscape and demographic analysis, that can help companies gain insight into the country specific nuances
- The analysts have also placed a significant emphasis on the key trends that drive consumer choice and the future opportunities that can be explored in the region, than can help companies in revenue expansion
Key Players
Table of Contents
List of Tables
List of Figures
Frequently Asked Questions
The global skincare market was valued at $128.2 billion in 2020.
The global skincare market is projected to grow at a CAGR of more than 3% during the forecast period.
The key categories in the global skincare market are body care, facial care, hand care, depilatories and makeup up remover.
The key regions covered in the global skincare market forecast report are the Asia-Pacific, the Middle East & Africa, the Americas, Western Europe, and Eastern Europe.
The key countries in the global skincare market are Thailand, South Korea, Australia, Canada, the US, the Netherlands, Spain, Poland, and Russia.
Beiersdorf Ag, Procter & Gamble, Shiseido Company Limited, Unilever, L’Oréal S.A., Johnson & Johnson Services Inc, Amorepacific Corporation, Kao Corporation, Mary Kay Inc., The Estée Lauder Companies Inc., Natura& Co, and Oriflame Cosmetics S.A. are the key companies in the global skincare market.
