Skincare Market Opportunities, Trends, Growth Analysis and Forecast to 2028
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Skincare Market Report Overview
The skincare market size was valued at $163.5 billion in 2023. Consumers’ increasing concerns about skin nourishment and rising preferences for a healthy skincare regime are strengthening the demand for skincare products, especially facial and body care solutions. These factors are expected to drive the skincare market growth at a CAGR of more than 2% from 2023 to 2028.
Skincare Market Outlook 2023-2028 (USD Billion)
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The skincare products market research report provides an overview of the global skincare products sector by category for 2023-2028. It identifies 10 high-potential countries across five regions in terms of economic development, governance, socio-demography, and technological infrastructure. In addition, the report entails a comprehensive understanding of distribution channels operating in the segment and gives a detailed account of the packaging materials based on volume sales of products. It also evaluates the competitive landscape, which includes information on segment dynamics and market player details.
Market Size (2023) | $163.5 billion |
CAGR (2023-2028) | >2% |
Key Categories | · Facial Care
· Body Care · Skincare Sets · Hand Care · Depilatories · Make-up Remover |
Key Regions | · Asia-Pacific
· Middle East and Africa · Americas · Western Europe · Eastern Europe |
Key Distribution Channels | · E-Retailers
· Health & Beauty Stores · Hypermarkets & Supermarkets · Parapharmacies/Drugstores |
Key Pack Material | · Rigid Plastics
· Flexible Packaging · Glass · Paper & Board · Rigid Metal |
Key Leading Players | · L’Oréal
· The Estée Lauder Companies · Beiersdorf · Proctor & Gamble · Unilever |
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Skincare Market Segmentation by Categories
The key categories in the skincare market are facial care, body care, skincare sets, hand care, depilatories, and make-up removers. In 2023, the facial care category dominated the skincare market share by value. Growing health and wellness concerns have supported the category sales, stimulated by the rise in skin-related issues and conditions such as scars, black spots, and dullness.
Skincare Market Analysis by Categories, 2023 (%)
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Skincare Market Segmentation by Regions
The key regions in the skincare market are Asia-Pacific, the Middle East and Africa, the Americas, Western Europe, and Eastern Europe. In 2023, the Asia-Pacific garnered the highest skincare market revenue. Consumers in the Asia-Pacific region are opting for multi-functional products given their busy lifestyles. Therefore, skincare manufacturers are launching products with multiple benefits to appeal to these time-pressed consumers. For instance, in Japan, Naris Cosmetics introduced its Milty-branded Moisture Milk Spray. The company claims the product has the five-in-one benefit of a lotion, serum, sheet pack, emulsion, and cream in a spray.
Skincare Market Analysis by Region, 2023 (%)
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Skincare Market Segmentation by Distribution Channels
The key distribution channels in the skincare market are e-retailers, hypermarkets & supermarkets, health & beauty stores, parapharmacies/drugstores, and others. In 2023, e-retailers were the most preferred distribution channel, followed by health & beauty stores and hypermarkets & supermarkets.
Skincare Market Analysis by Distribution Channel, 2023 (%)
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Skincare Market Segmentation by Pack Materials
The key pack materials used in the skincare market are rigid plastics, flexible packaging, glass, paper & board, and rigid metal. In 2023, rigid plastics emerged as the most preferred pack material in the skincare market, followed by flexible packaging.
Bottle was the most widely used pack type in the skincare sector in 2023, followed by tube and tub.
Skincare Market Analysis by Pack Materials, 2023 (%)
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Skincare Market – Competitive Landscape
The leading skincare market players are L’Oréal, Estée Lauder, Beiersdorf, Unilever, Proctor & Gamble, and Private Label, among others. In 2023, L’Oréal accounted for the highest skincare market share. The company emerged as the market leader with the highest skincare product sales through various brands including Lancôme, L’Oréal Paris, Garnier, Kiehl’s, and Biotherm among others.
Skincare Market Analysis by Leading Players, 2023 (%)
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Segments Covered in this Report
Skincare Category Outlook (Share, %, 2023)
- Facial Care
- Body Care
- Skincare Sets
- Hand Care
- Depilatories
- Make-up Remover
Skincare Regional Outlook (Share, %, 2023)
- Asia-Pacific
- Middle East and Africa
- Americas
- Western Europe
- Eastern Europe
Skincare Distribution Channel Outlook (Share, %, 2023)
- E-Retailers
- Health & Beauty Stores
- Hypermarkets & Supermarkets
- Parapharmacies/Drugstores
Skincare Packaging Material Outlook (Share, %, 2023)
- Rigid Plastics
- Flexible Packaging
- Glass
- Paper & Board
- Rigid Metal
Scope
This report brings together multiple data sources to provide a comprehensive overview of the global skincare sector, analyzing data from 108 countries. It includes an analysis of the following –
- Sector overview: Provides an overview of the current sector scenarios in terms of ingredients, manufacturer claims, labeling, and packaging. The analysis also provides a regional overview across five regions—Asia-Pacific, Middle East and Africa (MEA), the Americas, Western Europe, and Eastern Europe—highlighting sector size, growth drivers, the latest developments, and future challenges for each region. This data includes both on-trade and off-trade data.
- Change in consumption: Provides an overview of consumption changes in the overall cosmetics and toiletries (C&T) industry, including skincare products, over 2018–28 at global and regional levels.
- High-potential countries: Provides risk-reward analysis of the top high-potential countries in each region based on market assessment, economic development, governance indicators, sociodemographic factors, and technological infrastructure.
- Country and regional analysis: Provides a deep-dive analysis of 10 high-potential countries covering value growth during 2023–28, key challenges, consumer demographics, and key trends. It also includes regional analysis covering the future outlook for each region.
- Competitive environment and brand shares: Provides an overview of the leading companies and brands at global and regional levels. Market shares of brands and private labels in each region are also detailed.
- Key distribution channels: Provides an analysis of the leading distribution channels in the global skincare sector in 2023. It covers “dollar stores”, variety stores and general merchandise retailers, cash & carries and warehouse clubs, chemists/pharmacies, convenience stores, department stores, direct sellers, e-retailers, health & beauty stores, hypermarkets & supermarkets, parapharmacies/drugstores, and others.
- Packaging analysis*: The report provides percentage share (in 2023) and growth analysis (during 2023–28) for various pack materials, pack types, closures, and primary outer types based on volume sales of skincare products.
Key Highlights
With growing health and wellness among consumers, there has been an increase in demand for natural and plant-based ingredients in skincare products. Consumers are looking for chemical-free ingredients and are avoiding ingredients such as parabens and sulfates. As a result, manufacturers are formulating male toiletries products using naturally sourced and safe ingredients. The skincare industry is highly regulated in terms of labeling, while manufacturers are expected to produce clean-label items with good-quality ingredient formulations. Consumers are increasingly opting for products that provide clear information. Therefore, brands are focusing on strengthening their communication on pack labels, to increase safety in product usage.
Reasons to Buy
Manufacturing and retailers seek the latest information on how the market is evolving to formulate their sales and marketing strategies. There is also a 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 for 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, which can help companies in revenue expansion.
- To gain competitive intelligence about leading brands in the sector in the region with information about their market share and growth rates.
The Estée Lauder Companies
Beiersdorf
Procter & Gamble
Unilever
Table of Contents
Table
Figures
Frequently asked questions
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What was the skincare market size in 2023?
The skincare market size was valued at $163.5 billion in 2023.
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What will be the estimated skincare market CAGR during 2023-2028?
The skincare market will grow at a CAGR of more than 2% from 2023 to 2028.
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Which was the leading category in the skincare market in 2023?
The leading category in the skincare market was facial care in 2023.
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Which distribution channel dominated the skincare market in 2023?
E-retailers were the largest contributing distribution channel in the skincare market in 2023.
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Which are the leading skincare market players?
L’Oréal, Estée Lauder, Beiersdorf, Unilever, Proctor & Gamble, and Private Label are a few of the leading skincare market players.
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