Cosmetic Skin Care Market Expected to Grow at CAGR

Wilmington, Delaware, USA, August 10, 2022 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global cosmetic skin care market value was worth US$101.34 billion in 2021. Cosmetic skin care industry statistics forecast the market to grow at a CAGR of 4.8% during of the forecast period, 2022 to 2031. The global cosmetic skin care market is expected to reach a value of US$154.7 billion by 2031. Major skin care companies are focusing on success long-term through innovation, efficient integration and constant improvement of cosmetic procedures.

Skin care market analysis estimates that due to rapidly expanding urbanization and increasing consumer understanding of organic skin care products, the demand from Asia-Pacific countries is increasing. This factor is expected to provide attractive growth prospects for market players and occupy a larger market share in skin care in the coming years. In the coming years, it is expected that the expansion of trade and investment opportunities in developing countries will provide market players with a plethora of opportunities. A common tactic used by many companies to increase revenue is business collaboration with important stakeholders.

The increase in the use of organic skin care and cosmetic products is expected to be one of the major factors predicted to propel global cosmetic skin care in the coming years. The growing demand for organic cosmetics results from the harmful effects of chemical-based products. There is an increase in discretionary income in several major markets around the world. The cosmetic skin care market is therefore expected to be driven by rising discretionary income and higher purchasing power over skin care products in developing countries.

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Key Findings of the Market Report

  • The chemicals in traditional beauty products can penetrate the skin and travel into the bloodstream, where they can cause various diseases like cancer and hormonal imbalance. Thus, products without toxic ingredients are more popular with consumers. The global demand for products made with natural components has steadily increased and is an important segmentation of the skin care products market.
  • The amount of disposable income has increased in several major markets around the world. The surge in buying activity is associated with an increase in discretionary income. Consumers are increasing their spending on skincare products, as evidenced by the prominence and expansion of well-known skincare brands, whose products are generally more upscale.
  • Women in the 16-24 age group invest the most in cosmetic skincare products, such as self-tanning solutions, particularly in Germany, France, Spain, Italy and the UK . The US skin care market size is also expected to be boosted. by the growing popularity of these products among women in the region.

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Global Cosmetic skin care Market: Engines of growth

  • Due to their user-friendliness and convenience, creams and moisturizers account for a significant share of the global cosmetic skin care market. Due to the rapid aging of the population, the demand for moisturizers and creams containing natural antioxidants is expected to increase dramatically.
  • Asia-Pacific is expected to occupy the lion’s share of the global cosmetic skin care market during the forecast period. South Korea, Japan and China are expected to dominate the regional cosmetic skin care market. This can be attributed to the significant cultural and geographic influences that shape how customers purchase cosmetic skin care products.

Global Cosmetic skin care Market: Key Players

Some of the major players in the market are

  • Galderma Laboratories, LP
  • Beiersdorf AG
  • Shiseido Company
  • Procter & Gamble Company
  • Johnson & Johnson Consumer Inc.
  • Estee Lauder Inc.

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Global Cosmetic skin care Market: Segmentation

Product

  • cleaner
  • Cream & Moisturizer
  • Serum
  • Mask
  • Others

Product ingredients

Final user

Price

  • Low (up to 50 USD)
  • Medium (US$ 50-US$ 200)
  • High (above USD 200)

Distribution channel

Consumer Goods Research Reports

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