Skincare Market Opportunities, Trends, Growth Analysis and Forecast to 2027
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Skincare Market Report Overview
The skincare market size was $131.5 billion in 2022. The market is expected to grow at a CAGR of more than 3% during 2022-2027. The rising purchasing power among consumers and changing lifestyles are driving sales in the skincare sector. Expanding urban populations, especially in developing countries, are also stimulating sales. Furthermore, the consumer inclination towards these products has increased owing to rising awareness of skin issues and conditions, mainly in regions impacted by environmental problems such as pollution and exposure to UV rays.
Skincare Market Outlook 2022-2027 ($ Billion)
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The skincare market research report provides an overview of the current skincare sector and its outlook in terms of ingredients, product claims, labeling, distribution, and packaging. The analysis also covers a regional overview of skincare across five regions including Asia-Pacific, Middle East & Africa, Americas, Western Europe, and Eastern Europe, highlighting industry size, growth drivers, latest developments, and future inhibitors for the regions. The report assesses high-potential countries in each region and provides country-wise deep dive insights. Furthermore, the report covers business-related information on some of the leading brands, key distribution channels, and packaging material insights.
Market Size (2022) | $131.5 billion |
CAGR (2022-2027) | >3% |
Key Categories | Facial Care, Body Care, Hand Care, Depilatories, Make-up Remover |
Key Regions | Asia-Pacific, Middle East and Africa, Americas, Western Europe, and Eastern Europe |
High-Potential Countries | Canada, Chile, China, Czech Republic, Germany, Indonesia, Japan, Poland, Saudi Arabia, and Sweden |
Key Distribution Channels | E-Retailers, Hypermarkets & Supermarkets, Health & Beauty Stores, Parapharmacies/drugstores, and Others |
Key Pack Material | Rigid Plastics, Flexible Packaging, Glass, Paper & Board, and Rigid Metal |
Key Pack Type | Bottle, Tube, Tub, Jar, and Others |
Key Leading Players | L’Oréal, Estée Lauder, Beiersdorf, Unilever, Proctor & Gamble, Private Label, and Others |
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Skincare Market Dynamics
Consumers have become highly selective while purchasing skincare products, owing to health and environmental considerations. There is thus a growing desire for skincare products with claims such as “cruelty-free”, “sustainable”, or “chemical-free”. Encouraged by this, manufacturers are launching products that are marketed as being natural/organic, sustainable, and free from artificial preservatives.
Additionally, rising concerns over personal appearance will push demand for skincare products. Over the years, consumers have increasingly shown a preference for natural/organic ingredients in this sector. In addition, their increasing knowledge of their skin type will drive the use of ingredients such as vitamins, hyaluronic acid, argan oil, jojoba oil, and niacinamide to gain clean-label positioning.
Skincare Market Segmentation by Categories
The key categories in the skincare market are facial care, body care, hand care, depilatories, make-up remover. In 2022, the facial care category dominated the skincare market share. The rising purchasing power among consumers and changing lifestyles are driving sales in the skincare sector. Additionally, growing consumer concerns over personal appearance are strengthening the demand for facial care and body care products.
Skincare Market Analysis by Categories, 2022 (%)
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Skincare Market Segmentation by Regions
The key regions in the skincare market are Asia-Pacific, Middle East and Africa, Americas, Western Europe, and Eastern Europe. In 2022, the Asia-Pacific led the skincare market with China, Japan, and South Korea emerging as the leading revenue-generating economies in the region. Rapid urbanization and rising disposable income in the Asia-Pacific region are driving sales of skincare products.
Also, there is an increasing demand for personalized and specific skincare products owing to different skin types and conditions. This has led to the introduction of innovative products by manufacturers that align closely with these consumer needs.
Skincare Market Analysis by Region, 2022 (%)
The key high-potential countries identified in the skincare market are Canada, Chile, China, Czech Republic, Germany, Indonesia, Japan, Poland, Saudi Arabia, and Sweden. Toronto was Canada’s largest skincare market in 2022, Santiago was the largest city for skincare products in Chile, and Chongqing emerged as the largest skincare market in China.
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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 2022, e-retailers were the leading distribution channel segment. The leadership of e-retailers can be attributed to the increasing penetration of the internet across the globe and to consumers increasingly preferring online channels for buying skincare items because of convenience and the greater variety of products.
Skincare Market Analysis by Distribution Channel, 2022 (%)
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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 2022, rigid plastics emerged as the mostly used pack material in the skincare market, followed by flexible packaging.
Bottle was the most widely used pack type in the skincare sector in 2022, followed by tube and tub.
Skincare Market Analysis by Pack Materials, 2022 (%)
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Skincare Market – Competitive Landscape
Some of the leading skincare market players are L’Oréal, Estée Lauder, Beiersdorf, Unilever, Proctor & Gamble, and Private Label, among others. In 2022, L’Oréal accounted for the highest skincare market share with some of the most prominent brands including Garnier, Biotherm, Dermo Expertise, Lancôme, and L’Oréal Paris among others.
Skincare Market Analysis by Leading Players, 2022 (%)
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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 formation about their market share and growth rates.
Estée Lauder
Beiersdorf
Unilever
Procter & Gamble
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Frequently asked questions
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What was the skincare market size in 2022?
The skincare market size was valued at $131.5 billion in 2022.
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What will be the skincare market CAGR during 2022-2027?
The skincare market will grow at a CAGR of more than 3% during 2022-2027.
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Which was the leading category in the skincare market?
The leading category in the skincare market was facial care.
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Which distribution channel dominated the skincare market?
E-retailers were the largest contributing distribution channel in skincare market.
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Who are the leading skincare market players?
L’Oréal, Estée Lauder, Beiersdorf, Unilever, Proctor & Gamble, and Private Label are some of the leading players in the skincare market.
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