Skin Care Products Market Size Worth $188.24 Billion By 2028

Skin Care Products Market Growth & Trends

The global skin care products market size is expected to reach USD 188.24 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.8% from 2021 to 2028. Rising concerns regarding skin problems are driving the industry for skin care products. The growing demand for concern-specific skin care products such as face creams, body lotions, shaving lotions and creams, and face sunscreens is likely to fuel the overall demand.

Rising awareness regarding the various benefits of using skin care products has resulted in a rise in their demand over the last few years. Moreover, an inclination toward natural and organic skin care products is observed, making it a major sector in the cosmetics and wellness industry. Organic products are derived from natural resources and are free from harmful chemicals.

The female gender segment held the largest share in 2020 and is expected to maintain its lead over the forecast period. Women are increasingly adding personal grooming products to their daily routines to enhance their confidence and appearance. The increased demand for face creams, sunscreens, and body lotions across the globe is expected to have a positive impact on the market growth.

The supermarkets and hypermarkets distribution channel segment held the largest share in 2020.A large number of consumers prefer buying skin care products from hypermarkets and supermarkets due to the shopping experience offered by these stores. The ability to physically verify these products, along with expert assistance, is another major factor contributing to the growth of this distribution channel. The market for skin care products is consolidated with the presence of a large number of international players and a few regional players.

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Skin Care Products Market Report Highlights

• Asia Pacific held the largest revenue share in 2020. The increasing consumption of skin care and cosmetic products in the emerging markets of China and India due to a growing number of new product launches and rising concerns about skin health, the harmful effects of UV rays, and skin conditions are likely to positively influence the market growth in the APAC region

• The others product segment is projected to register the fastest CAGR of 5.7% from 2021 to 2028.The other segment includes various types of skin care products such as face masks and serums. Serums are generally used to get a fresher, younger skin appearance by reducing blemishes and providing essential hydration

• By distribution channel, the supermarkets and hypermarkets segment is expected to witness the fastest growth during the forecast period owing to a shift in consumer shopping behavior. Hypermarkets and supermarkets sell a variety of cosmetic and beauty care products for both men and women. Owing to the increasing demand for cosmetic products and rising shelf space, many of these stores have trained professionals in the cosmetics and beauty aisles to provide customers expert guidance and recommendations

Skin Care Products Market Segmentation

Grand View Research has segmented the global skin care products market on the basis of gender, product, distribution channel, and region:

Skin Care Products Gender Outlook (Revenue, USD Million, 2016 - 2028)

•  Male

• Female

Skin Care Products Outlook (Revenue, USD Million, 2016 - 2028)

• Face Creams & Moisturizers

• Cleansers & Face Wash

• Sunscreen

• Body Creams & Moisturizers

• Shaving Lotions & Creams

• Others

Skin Care Products Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)

• Supermarkets & Hypermarkets

• Convenience Stores

• Pharmacy & Drugstore

• Online

• Others

Skin Care Products Regional Outlook (Revenue, USD Million, 2016 - 2028)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

• Asia Pacific

  • China

  • India

  • Japan

• Central & South America

  • Brazil

• Middle East & Africa

  • Saudi Arabia

List of Key Players of Skin Care Products Market

• L’Oreal S.A.

• Beiersdorf AG

• Shiseido Co., Ltd.

• Procter & Gamble (P&G)

• Unilever

• Johnson & Johnson Services, Inc.

• Avon Products, Inc.

• Coty Inc.

• Colgate-Palmolive Company

• Revlon