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Skin Care Products - Global Strategic Business Report

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    Report

  • 1165 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 338704

Global Skin Care Products Market to Reach $199.8 Billion by 2030

The global market for Skin Care Products estimated at US$125 Billion in the year 2022, is projected to reach a revised size of US$199.8 Billion by 2030, growing at a CAGR of 6% over the analysis period 2022-2030. Face Creams & Cleansers, one of the segments analyzed in the report, is projected to record 7% CAGR and reach US$126.8 Billion by the end of the analysis period. Growth in the Body Lotions segment is estimated at 5.2% CAGR for the next 8-year period.

The U.S. Market is Estimated at $29.2 Billion, While China is Forecast to Grow at 8.4% CAGR

The Skin Care Products market in the U.S. is estimated at US$29.2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$27.5 Billion by the year 2030 trailing a CAGR of 8.4% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 5.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR.

Select Competitors (Total 457 Featured)

  • Alba Botanica
  • 3M Company
  • AHAVA North America, LLC
  • AdvoCare International LP
  • Aida Grey, Inc.
  • 4life Trademarks, L.L.C.
  • Abercrombie & Fitch Co.
  • Absolutely Natural
  • Aidance Skincare
  • Abbe Laboratories, Inc.
  • Adigica Health, Inc. - BioClarity
  • Advanced Dermatology and Cosmetic Surgery
  • 320 MHz - Plant Me Botanics Limited
  • 100 Percent Pure
  • A.G.E. Stop GmbH

Economic Outlook

The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in Euro area is helping boost real incomes and is contributing to pick-up in economic activity. China is expected to see strong increases in GDP in the coming year as the pandemic threat recedes and the government sheds its zero-COVID policy. With optimistic GDP projections, India remains on-course to emerge into a US trillion economy by 2030, surpassing Japan and Germany.

The upturn, however, remains fragile and a number of interlocking challenges continue to run in parallel, such as continued uncertainty around the war in Ukraine; slower than expected decline in global headline inflation; continuation of food and fuel inflation as a persistent economic problem for most developing countries; and still high retail inflation and its impact on consumer confidence and spending. Countries and their governments are showing signs of weathering these challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically conformable levels by raising interest rates, new job creation will slowdown and impact economic activity. Stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Although corporate investments can likely be held back by inflation worries and weaker demand, rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and trademarked research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Frequently Asked Questions about the Skin Care Products Market

What is the estimated value of the Skin Care Products Market?

The Skin Care Products Market was estimated to be valued at $125 Billion in 2022.

What is the growth rate of the Skin Care Products Market?

The growth rate of the Skin Care Products Market is 6.0%, with an estimated value of $199.8 Billion by 2030.

What is the forecasted size of the Skin Care Products Market?

The Skin Care Products Market is estimated to be worth $199.8 Billion by 2030.

Who are the key companies in the Skin Care Products Market?

Key companies in the Skin Care Products Market include Alba Botanica, 3M Company, AHAVA North America, LLC, AdvoCare International LP, Aida Grey, Inc., 4life Trademarks, L.L.C., Abercrombie & Fitch Co., Absolutely Natural, Aidance Skincare and Abbe Laboratories, Inc..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Impact of COVID-19 Pandemic and Looming Global Recession
  • Living with COVID-19: The New Normal
  • Stagflation and Risk of Recession: New Challenges Emerge for the Global Market in 2022 & 2023
  • World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020, 2021, 2022 and 2023
  • Beauty and Personal Care Industry Comes Under Tremendous Stress Due to Pandemic
  • Pandemic-Induced Reduction in Consumer Spending Affects Sales of Skin Care Products: % Change in Consumer Spending in Select Regions/Countries for 2020
  • Global Beauty Industry Posts a Cautious Recovery from the Pandemic Impact
  • Increasing Desire to Maintain Healthy Lifestyle Fuel Demand for Health and Skincare Solutions
  • Skin Care Products Witness Pockets of Growth
  • An Introduction to Skin Care Products
  • Ingredients Used In Skin Care Products
  • Global Market Prospects & Outlook
  • Developing Regions Spearhead Market Growth
  • Competition
  • Skin Care Products - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Notable Skin Care Trends to Shape the Future Market Growth Dynamics
  • Innovative Digital Technologies to Influence Skin Care Market
  • Beauty & Skin Care Industry Undergoes Makeover Riding on Latest Wave of Technology Trends
  • Novel Skincare Brands Make Way into the Market
  • Growing Consumer Desire to Retain Youthful Appearance Drives Sales of Anti-Aging Skin Care Products
  • Expanding Elderly Population Worldwide Presents Opportunities for Anti-Aging Products Market
  • Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • Anti-Aging Skin Care Products: Breeding the Hope of Timeless Beauty
  • Rising Sales of Anti-Wrinkle Products
  • Consumer Interest in Natural Ingredients Spurs Strong Demand for Natural and Organic Anti-Aging Products
  • What’s Trending in Anti-aging Products Market
  • Anti-Aging Facial Oils: Greener Future Driven by Consumers demanding Eco-friendly Products
  • Facial Oils for Cleansing: Ease of use, Skin Friendliness, Hydration and Cleansing Superiority Drive Application
  • Physiological Differences Entail Need for Male Specific Anti-Aging Products
  • Medicated Skin Care Domain to Have Real Moment with Innovation Focus
  • Select Recently Launched Innovative Medicated Skin Care Brands
  • Trending Ingredients for Skin Care Products
  • Rise in Young Population and Skin Conditions Such as Acne Drive Demand for Medicated skin Care Products
  • Popularity of Cosmeceuticals Bodes Well for Market Growth
  • Global Cosmeceutical Market Size (in US$ Billion) for 2019, 2022 and 2025
  • Cosmeceuticals with Biologically Active Ingredients to Improve Skin Functioning Begin to Find Favor
  • Skin Lightening Products Continue to Gain Momentum
  • Creams Lead the Global Skin Lightening Market
  • Synthetic Products Lead, Natural Products Poised for High Growth
  • Culture & Ethnicity Shape the Skin Lighteners Landscape
  • Women of Color Spent Significantly on Lightening Creams
  • Natural Skin Lightening Ingredients Continue to Find Favor
  • Global Skin Lightening Products Market by Nature of Ingredient (in %) for 2022E
  • Physician-Dispensed Skin Brightening and Lightening Products: Opportunities for Growth
  • Demand Continues to Surge for Effective Sunscreens
  • Global Sun Care Market by Product Segment (in %) for 2022E
  • Consumer Awareness: Key to Demand for Sun Care Products
  • Demand for Stronger Sunscreens Ups the Demand for Ingredients
  • Sustainability Emerges as a Buzzword in Sun Care Products Market
  • Natural & Organic Sun Screens Sales on the Rise
  • Women Continue to Hold Sway in the Global Skin Care Products Marketplace
  • Growing Participation of Women in Workforce and Resultant Focus on Maintaining Physical Appearance Augurs Well for Skin Care Products Market: Women as % of Labor Force by Region (2020)
  • As Men Focus on Personal Grooming & Hygiene, Demand Surges for Male Skin Care Products
  • Global Male Grooming Products Market Size in US$ Billion for the Years 2019, 2021, 2023 and 2025
  • New Breed of “Metrosexuals” Spur Growth
  • Demand for Sustainable Skincare Products Gain Momentum
  • Key Challenges Confronting Development of Sustainable Beauty Brands
  • Skin Care Products with Natural & Organic Ingredients Find Growing Acceptance among Eco-Conscious Consumers
  • Global Natural Cosmetics Market: Sales in US$ Billion for the Years 2019, 2021, 2023 and 2025
  • Green Movement Trend Impacts Dynamics in the Skin Care Market
  • Rising Popularity of Personalized Skin Care Products
  • Flourishing E-Commerce Sector Provides Growth Opportunities for Skin Care Products
  • Global e-Commerce Market Growth Outlook (In %) For Years 2019 Through 2025
  • Use of Chemicals Presents Challenges for Skin Care Products Market
  • Expanding Urban and Middle Class Population to Drive Market Growth
  • World Urban Population in Thousands: 1950-2050P
  • Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
  • Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Skin Care Products Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
  • TABLE 2: World Recent Past, Current & Future Analysis for Skin Care Products by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 3: World Historic Review for Skin Care Products by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 4: World 16-Year Perspective for Skin Care Products by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2023 & 2030
  • TABLE 5: World Recent Past, Current & Future Analysis for Face Creams & Cleansers by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 6: World Historic Review for Face Creams & Cleansers by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 7: World 16-Year Perspective for Face Creams & Cleansers by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 8: World Recent Past, Current & Future Analysis for Body Lotions by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 9: World Historic Review for Body Lotions by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 10: World 16-Year Perspective for Body Lotions by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 11: World Recent Past, Current & Future Analysis for Other Products by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 12: World Historic Review for Other Products by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 13: World 16-Year Perspective for Other Products by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 14: World Recent Past, Current & Future Analysis for Supermarkets / Hypermarkets by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 15: World Historic Review for Supermarkets / Hypermarkets by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 16: World 16-Year Perspective for Supermarkets / Hypermarkets by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 17: World Recent Past, Current & Future Analysis for Convenience Stores by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 18: World Historic Review for Convenience Stores by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 19: World 16-Year Perspective for Convenience Stores by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 20: World Recent Past, Current & Future Analysis for Online by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 21: World Historic Review for Online by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 22: World 16-Year Perspective for Online by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 23: World Recent Past, Current & Future Analysis for Other Distribution Channels by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • TABLE 24: World Historic Review for Other Distribution Channels by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2021 and % CAGR
  • TABLE 25: World 16-Year Perspective for Other Distribution Channels by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
III. MARKET ANALYSIS
  • UNITED STATES
  • Skin Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • Market Overview
  • COVID-19 Outbreak Leads to Decline in Sales of Beauty and Personal Care Products
  • Anti-Aging Products Flood the Market
  • North American Aging Population by Age Group: 1975-2050
  • Growing Demand for Natural Products Benefit Market Expansion
  • Innovative Natural Ingredients in Anti-aging Products
  • Skin Lightening Products Gain Acceptance in the US
  • Premium Anti-Aging Skincare Products Rise in Demand
  • Notable Trends in the US Skin Care Products Market
  • Distribution Dynamics
  • Competition
  • Leading Acne Treatment Brands Market Share Breakdown (in %) in the US: 2022E
  • CANADA
  • Skin Care Products Market Presence - Strong/Active/Niche - Key Competitors in Canada for 2022 (E)
  • Anti-Aging Products: The Key Segment within the Canadian Skin Care Market
  • JAPAN
  • Skin Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
  • Market Overview
  • Consumer Inclination to Look Young and Beautiful Drives Penetration of Anti-Aging Products
  • Stressful and Hectic Lifestyles Spur Demand for Anti-Aging Skincare Cosmeceuticals
  • CHINA
  • Skin Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
  • Market Overview
  • EUROPE
  • Skin Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • FRANCE
  • Skin Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
  • GERMANY
  • Skin Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
  • ITALY
  • UNITED KINGDOM
  • Skin Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Skin Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • Market Overview
  • A Lucrative Market for Anti-Aging Products Worldwide
  • AUSTRALIA
  • Skin Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2023 (E)
  • INDIA
  • Skin Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2023 (E)
  • Underpenetrated Nature of the Market Offers Huge Growth Opportunities
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • Skin Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2023 (E)
  • Anti-Aging Products in Latin America: A Promising Market
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • Skin Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2023 (E)
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
  • Skin Care Products Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2023 (E)
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Alba Botanica
  • 3M Company
  • AHAVA North America, LLC
  • AdvoCare International LP
  • Aida Grey, Inc.
  • 4life Trademarks, L.L.C.
  • Abercrombie & Fitch Co.
  • Absolutely Natural
  • Aidance Skincare
  • Abbe Laboratories, Inc.
  • Adigica Health, Inc. - BioClarity
  • Advanced Dermatology and Cosmetic Surgery
  • 320 MHz - Plant Me Botanics Limited
  • 100 Percent Pure
  • A.G.E. Stop GmbH