The global skin care products market size is projected to reach USD 183.03 billion by 2025 expanding at a CAGR of 4.4%, according to a new report by Grand View Research, Inc. Increasing demand for natural, herbal, and organic products that have no adverse effects is expected to boost the market growth over the forecast period. Skin care products include various synthetic and natural products, such as body lotions and face creams. Rising concerns regarding skin problems are also driving the skin care products industry.
Rising awareness about natural ingredients providing UV protection is also expected to fuel the market growth. With the rising geriatric population, demand for products with anti-aging properties is expected grow, thereby driving the overall market. Organic skin care product manufacturers focus more on the development of newer formulations targeted at fighting the effects of skin aging. Rising awareness about skin care has led to the inclusion of sun protection, anti-aging, and anti-wrinkle properties in skin care and makeup products.
Although, increased concerns regarding authenticity of products has been encouraging emerging manufacturers to enter the market; intense competition may pose a serious challenge to the market growth. High costs of organic and natural skin care products are also expected to hamper market growth over the next few years. However, increasing demand for organic body lotion products, especially in countries like Canada, India, and Mexico, on account of rising consumer awareness regarding benefits of natural ingredients like turmeric and neem is expected to have a positive impact on the market.
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Further key findings from the study suggest:
Favorable regulatory support in countries like India and Mexico encouraging investments at domestic level is expected to open new avenues for the market in future
Body lotion is anticipated to be the fastest-growing product segment at a CAGR of 5.1% from 2019 to 2025
Face cream segment led the global skin care products market in 2018 and is projected to expand further during the estimated period
The market is characterized by the presence of major companies, such as L’Oréal S.A, Unilever PLC, Beiseidorf AG, and Colgate Palmolive
Grand View Research has segmented the global skin care products market on the basis of product and region.
Skin Care Product Outlook (Revenue, USD Billion, 2014 - 2025)
Skin Brightening Cream
Sun Protection Cream
Mass Market Body Care Lotion
Premium Body Care Lotion
Skin Care Products Regional Outlook (Revenue, USD Billion, 2014 - 2025)
Central & South America
Middle East & Africa
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