Skin Care Products Market Size, Share & Trends Report

Skin Care Products Market Size, Share & Trends Analysis Report By Product [Face Cream (Skin Brightening, Anti-Ageing, Sun Protection), Body Lotion (Mass Body Care, Premium Body Care)], And Segment Forecasts, 2018 - 2024

  • Published Date: Apr, 2018
  • Base Year for Estimate: 2015
  • Report ID: 978-1-68038-902-9
  • Format: Electronic (PDF)
  • Historical Data: 2015
  • Number of Pages: 55

Industry Insights

The global skin care products market size was valued at USD 116.3 billion in 2015. The market is expected to be driven by the rising demand for natural skin care products, coupled with the growing emphasis on personal health, especially in the developing countries of Asia Pacific.

U.S. skin care market

Approval from various human health & safety regulatory bodies such as the U.S. Department of Agriculture (USDA) and FDA for the use of organic skin products is expected to fuel market growth. In addition, the growing demand for body lotions sunscreens, and organic face creams among consumers is expected to have a positive impact on the product market over the forecast period. In addition, the growing network of E-commerce websites is further projected to drive the market as niche product vendors can cater to a wide base of consumers.

Raw materials in organic skin care products such as neem extracts, soybean, fish oil, aloe vera, xanthan and guar gum are used in manufacturing of the products. Raw material production is concentrated in the U.S. and China owing to the high availability of these raw materials. Growing demand for fish oil in the manufacturing of the products on account of its stabilizing and preservative properties will have a positive impact on the overall market over the next eight years. Xanthan gum as a raw material is estimated to witness high demand from organic cosmetics industry owing to its ability to form hydrocolloids with liquids which prevent separation of ingredients.

Majority of the manufacturers are integrated across the value chain as the demand of the organic personal care products largely depends on end-use. Various product manufacturers, such as The Body Shop and LÓreal, produce their own raw materials in order to reduce overall product cost. Furthermore, integration across the value chain enables companies to increase profit margins. In addition, technological innovations being done for the development of cost effective products by companies such as Beiersdorf, Aveda Corporation, Amway, and Estee Lauder among a few others, is expected drive product growth over the forecast period.

The global product market is governed by various regulatory bodies. Prevalence of stringent regulations by agencies including EPA, FDA, and a few other associations to increase shelf life of skin care products is expected to have a positive impact on the market over the next few years. For instance, the European Union has banned around 1300 chemicals that were being used in cosmetics and skin care products. This ban was done due to suspicions of harm the chemicals may cause to human body post-usage of the products.

The increasing demand for green or natural products is expected to drive the growth. The various efforts being made to reduce the consumption of harmful chemicals such as parabens, coupled with efforts of numerous multinational companies, for shifting to sustainable products, has contributed to the rise in consumption of natural skin care products. In addition, rising consumer awareness of the potential ill impact of organic skin care products on health and environment has resulted in augmenting sales of natural personal care products over the past few years.

However, the presence pf pseudo-natural ingredients in these products is expected to restrain product growth. Ingredient and formulation issues are becoming increasingly important in various regions including North America and Europe. Numerous manufacturers are launching products with high levels of natural extract, ethical and certified organic ingredients. New companies including Yves Saint Laurent and Origins Natural Resources launched Ecocert-certified products which are 100% organic.

Product Insights

The global industry has been segmented into two major product categories, namely, face creams and body lotions. In 2015, the face cream segment dominated the global revenues, accounting for a share of 58.7%. The face cream segment includes skin brightening creams, anti-ageing cream, and sun protection cream. New products with innovative formulations have been driving the product growth over the past few years and is expected to continue this trend over the forecast period.

Global skin care market

The body lotion segment includes mass market body care lotion and premium body care lotions. Increasing importance of natural ingredients for improving skin quality, hydrating the skin and avoiding dryness is expected to have a favorable impact on market. In addition, the ability of natural ingredients to provide anti-oxidation property and improve skin immune system is expected to be an advantageous factor for the organic skin care products market.

Regional Insights

Asia Pacific drove the market in 2015 and is expected to witness significant growth in skin care product segment owing to increasing demand from developing economies of China and India. Growing awareness toward skin care products, changing lifestyle of consumers, and rising disposable income of the middle class populace is expected to fuel skin care product demand in countries such as India and China over the forecast period.

In addition, North America and Europe held a significant share for organic skin care product segment on account of their zero side-effects and high efficiency. Increasing R&D investments coupled with associated technological breakthroughs in the area of processing and cost-effective production of skin products are expected to augment product demand over the forecast period.

Skin Care Market Share Insights

The global product market is characterized by integration through raw material supply and product manufacturing stages and supply stages. Companies such as Bare Escentuals, Natura Cosméticos S.A. are integrated across three stages of the value chain. Furthermore, The Body Shop and L’Oreal are integrated across the entire value chain.

These companies process the raw materials after which they utilize these materials for the production of a variety of organic shampoos, conditioners, creams, and lotions. These companies consume raw materials to manufacture various types of products including skincare, oral care, cosmetic, and hair care. Integration across numerous stages of the value chain results in continuous raw material supply as well as low manufacturing costs.

Some of the key companies present in the industry include L'Oréal S.A., Unilever PLC, Beiseidorf AG, Colgate Palmolive, Estee Lauder, Johnson and Johnson, and Avon Product Inc.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2015

Forecast period

2016 - 2024

Market representation

Revenue in USD Million & CAGR from 2016 to 2024

Regional scope

North America, Europe, Asia Pacific, Rest of the World

Report coverage        

Revenue forecast, company share, competitive landscape, growth factors and trends

Country Scope

U.S., UK, France, Germany, Italy, China, India, Japan, Saudi Arabia, South Africa

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Segments covered in the report

This report forecasts revenue growth at a regional & country level and provides an analysis of the industry trends in each of the sub-segments from 2015 to 2024. For the purpose of this study, Grand View Research has segmented the skin care market report on the basis of product and region:

  • Product Outlook (Revenue, USD Million; 2015 - 2024)

    • Face cream

    • Skin brightening cream

    • Anti-Ageing cream

    • Sun protection cream

    • Body lotion

    • Mass body care lotion

    • Premium body care lotion

  • Regional Outlook (Revenue, USD Million; 2015 - 2024)

    • North America

      • U.S

    • Europe

      • UK

      • France

      • Germany

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

    • Rest of the World

      • Saudi Arabia

      • South Africa

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