Skin Care Products Market (By Gender: Male, Female; By Products: Face Creams & Moisturizers, Cleansers & Face Wash, Sunscreen, Body Creams & Moisturizers, Shaving Lotions & Creams, Face Masks, Others; By Distribution Channel: Supermarkets & Hypermarkets, Convenience Stores, Pharmacy & Drugstore, Online, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022 – 2030


The global skin care products market was estimated at USD 135.85 billion in 2021 and is expected to hit around USD 204.62 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 4.6% from 2022 to 2030.

Skin Care Products Market Size 2022 to 2030

Key Takeaway

  • By gender, the male segment is growing at a CAGR of 5.2% between 2022 to 2030.
  • By product, the shaving lotions and creams segment is expected to grow at a CAGR of 5.7% between 2022 to 2030.
  • By distribution channel, the convenience stores channel segment is expanding at a CAGR of 4.8% between 2022 to 2030.
  • By region, North America region is growing at a CAGR of 4.5% from 2022 to 2030.

Growth Factors

The process of maintaining skin integrity and improvement of skin quality is known as skin care. To improve the skin quality, different types of products are used on a large scale. The factors such as shift in consumer preference, change in lifestyle of consumers, rising demand for natural skin care products, rapid urbanization and industrialization, and the surge in awareness regarding new and advanced skin care products is creating lucrative opportunities for the growth of the global skin care products during the forecast period. However, the short shelf life of skin care products is hampering the growth of the global skin care products during the projection period.

More individuals are aware and conscious of skin care products as a result of the growing working population, rising public knowledge, and growing disposable income. Moreover, innovative promos and marketing are fueling customer demand. The consumer purchasing power has increased as a result of growing urbanization and a trend of organic skin care products. The millennial want a wider range of skin care products.

Report Scope of the Skin Care Products Market

Report Coverage Details
Market Size USD 204.62 Billion by 2030
Growth Rate

CAGR of 4.6% from 2021 to 2030

Base Year 2021
Largest Market Asia Pacific
Fastest Growing Market North America
Forecast Period 2022 to 2030
Segments Covered Gender, Products, Distribution Channel, Category, Ingredient, Geography
Companies Mentioned Colgate-Palmolive Company, L’Oreal S.A., Procter & Gamble, Unilever, Coty Inc., Shiseido Co. Ltd, Avon Products Inc., Revlon, Beiersdorf AG, Johnson & Johnson Inc. 

 

The organic skin care products have become a major driver of the global skin care products market. The customers prefer products that contain organic and natural ingredients and are free of harmful chemicals. As a result, the demand for skin care products market is growing at a rapid pace.

The need for skin care products in Asia-Pacific is being met by rising consumer awareness and rising income levels. In addition, throughout the forecast period, penetration of foreign brands, urbanization, and expansion of e-commerce platforms and offline channels such as hypermarkets specializing in the sale of skin care products are expected to enhance the market growth.

The people are quite conscious regarding their skin tone and texture. Thus, the major market players are developing and launching skin care products that fulfil all the requirements of the people. As a result, growing standards of living and increased awareness regarding wide range of skin care products is driving the growth of the global skin care products over the projection period.

The large investments in research and development as well as growing knowledge of the negative impacts of synthetic alternatives are expected to offer long term growth prospects. The imitated or false items introduced by many small manufacturers result in the demise of natural and branded products, posing a threat to the growth of the global skin care products market.

The skin brightening creams have a strong market potential because they contain goods for both men and women. Due to the growing ageing population in Asia-Pacific, ant-aging and sun protection creams have a lot of potential. In developed nations, the skin brightening creams is expected to increase rapidly during the forecast period. Thus, both men and women are turning to skin care products to achieve nourished and hydrated skin. As a result, the global demand for skin care products is predicted to rise at a rapid pace.

Gender Insights

In 2021, the female segment accounted largest revenue share of over 61%. The female population is increasingly incorporating personal grooming items into their daily routines in order to boost their confidence and attractiveness, which is fueling the segment’s rise.

The male segment, on the other hand, is predicted to develop at the quickest rate in the future years. The male segment is being driven by a growing awareness among male population about personal cleanliness and regular grooming, increased product releases, celebrity endorsements, and rising disposable money.

Products Insights

In 2021, the face creams & moisturizers segment dominated the skin care products market with revenue share of 41%. The face creams and moisturizers are skin care products are frequently used by consumers. The face creams and moisturizers are quick alternative and easy to use for addressing dry skin. Moreover, the benefits such as fewer breakouts, rapid hydration, and refreshed skin.

The face masks segment, on the other hand, is predicted to develop at the quickest rate in the future years. The antioxidants and other important elements found in facial masks are good to diverse skin types. The face masks provide spa-like experience which is drawing a lot of customers.

Distribution Channel Insights

The supermarkets & hypermarkets segment dominated the skin care products market in 2021 with market share of 45.5%. The consumers benefit from supermarkets & hypermarkets because they have more choices, higher visibility of foreign brands, and lower pricing. These characteristics make them an ideal platform for all types of skin care products shoppers.  

The convenience stores segment is fastest growing segment of the skin care products market in 2021. Some consumers prefer to buy skin care products from these businesses since they are easy to find, have a large network, and can purchase the same items on a regular basis.

Region Insights

Asia-Pacific dominated the skin care products market in 2021 with revenue share of 35.5%. The rise of the chemical sector in emerging countries of Asia-Pacific region, which are backed by regulatory assistance, is projected to ensure that skin care products manufacturers have constant access to raw materials.

Skin Care Products Market Share, By Region 2020 (%)

North America, on the other hand, is expected to develop at the fastest rate during the forecast period. The consumers in North American countries like the U.S., Canada, and Mexico are willing to spend a premium price for more youthful appearance as well as glowing and brighter skin. The growing female population is contributing towards the market growth during the forecast period.

Key Developments

  • Shiseido Co. Ltd announced the launch of ULTIMUNE Power Infusing Concentrate III, a renewable of the iconic serum ULTIMUNE Power Infusing Concentrate N, in Japan in July 2021.
  • P&G’s Good Skin MD was launched in CVS Pharmacy’s offline and online stores in June 2021.
  • E’quipe Ltd, confirmed in December 2019 that its new brand Athletia will release on February 2020.
  • P&G announced the acquisition of Billie Inc. in January 2020. Billie is largely involved in supplying female beauty and grooming items, so this acquisition is expected to expand P&G’s product variety.
  • Gryphon Investors, based in San Francisco announced the purchase of anti-aging skincare brand RoC from Johnson & Johnson Consumer Inc. in 2019. Johnson & Johnson Consumer Inc’s RoC offers around 75 antiaging skin care products all around the world.

The mergers and acquisitions, partnerships, new product development, business expansions, collaborations, supply contracts, agreements, and contracts are some of the important marketing strategies used by the major market players to maintain their market position. The major market players are diversifying their product line by creating industry specific products and solutions.

Some of the prominent players:

  • Colgate-Palmolive Company
  • L’Oreal S.A.
  • Procter & Gamble
  • Unilever
  • Coty Inc.
  • Shiseido Co. Ltd
  • Avon Products Inc.
  • Revlon
  • Beiersdorf AG
  • Johnson & Johnson Inc.

Segments Covered in the Report

By Gender

  • Male
  • Female

By Products

  • Face Creams & Moisturizers
  • Cleansers & Face Wash
  • Sunscreen
  • Body Creams & Moisturizers
  • Shaving Lotions & Creams
  • Face Masks
  • Others

By Distribution Channel

  • Supermarkets & Hypermarkets
  • Convenience Stores
  • Pharmacy & Drugstore
  • Online
  • Others

By Category

  • Premium Skincare Products
  • Mass Skincare Products

By Ingredient:

  • Chemical
  • Natural

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Philippines
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa

Frequently Asked Questions

What is the current size of skin care products market?
According to Precedence Research, the global skin care products market size was valued at US$ 135.85 billion in 2021 and is anticipated to reach over US$ 204.62 billion by 2030.
The global skin care products market is growing at a CAGR of 4.6% over the forecast period 2021 to 2030.
The factors such as shift in consumer preference, change in lifestyle of consumers, rising demand for natural skin care products, rapid urbanization and industrialization, and the surge in awareness regarding new and advanced skin care products is creating lucrative opportunities for the growth of the global skin care products during the forecast period.
The major players operating in the skin care products market are Colgate-Palmolive Company, L’Oreal S.A., Procter & Gamble, Unilever, Coty Inc., Shiseido Co. Ltd, Avon Products Inc., Revlon, Beiersdorf AG, and Johnson & Johnson Inc.
Asia-Pacific dominated the skin care products market in 2020 with revenue share of 35.5% and will lead the market in near future.
  • Report Code:1563
  • Category:Healthcare
  • No. of Pages:150+
  • Format:PDF/PPT/Excel
  • Status:Published

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