Skin care products are used to enhance the skin to make it healthy, smooth and glowing. These products comprise a wide gamut of face, hand and body skin care creams and lotions ranging from daily moisturizing lotion, sunscreens, sun skin brightening, and skin tightening to anti-ageing creams. The skin care products market is anticipated to grow at a CAGR of 4.7% from 2016 ‐ 2022, to attain market size of $179 billion by 2022.
Changing lifestyle, increasing disposable income and rapid urbanization are driving the skin care market growth. Moreover, the growing need and awareness of skin care owing to the constantly changing climatic conditions, further supplement the demand for skin care products, globally. However, limited shelf life of the skin care products and high price of natural and organic ingredients used in products are likely to hinder the market growth. New product innovation and increasing investment by private investors and government in emerging countries supports substantial growth in world skin care product market.
The market is segmented based on product type and geography. Based on the product type, market is further bifurcated into face cream and body lotion. Face cream segment includes skin brightening cream, anti-aging cream, and sun protection. Body lotion segment includes mass market body care lotion and premium body care lotion. Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA are covered under the scope of the report.
The key players operating in the global skin care product market are Johnson & Johnson, The Estee Lauder Companies Inc., Unilever PLC, Avon Products Inc., L'Oréal S.A., Kao Corporation, Colgate-Palmolive Company, Shiseido Company, Beiersdorf AG, and Procter & Gamble.
Key Market Segments:
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