Skin Care Product Market Growth $221.74 Billion By 2032,CAGR:4.90%

Skin Care Product Market Size Worth $221.74 Billion By 2032 | CAGR: 4.90%

The global skin care products market size is expected to reach USD 221.74 billion by 2032, according to a new study by Polaris Market Research. The report “Skin Care Products Market Share, Size, Trends, Industry Analysis Report, By Product Type; By Packaging Type (Tube, Bottle, Jar, Others); By Distribution Channel, and By Region, Segment Forecast, 2024-2032” offers a wide analysis of different applications of skin care products, market size, industry scope along with insights related to current and future trends in the market.

The major drivers for the market are the rising consciousness about skin health among millennials and working age groups, and innovative personalized skin care products. During the last few years, a shift in consumer awareness towards skin health has increased due to constantly growing pollution and the rising standard of living. Beauty products are no longer a luxury; instead, they have become a necessity owing to various skin problems like acne, sunburn, atopic dermatitis, and tanning. Different products like sunscreens, toners, and face packs help to maintain the skin hydrated for a more extended period and maintain proper skin pH balance.

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The limited shelf life and various side effects of chemical-based skin care products are some of the restraining factors for this market.

Industrial players like Procter & Gamble and L'Oréal are constantly providing various innovative and personalized skin care products for every skin problem and price range. The wider choice of availability and personalized skin solutions are fuelling a substantial demand among millennials for these products.

Skin Care Market Report Highlights

  • The tube segment is projected to dominate the skin care products market in the packaging type. Convenience in handling, lightweight and easy product applications majorly drives this segment.
  • The bottle packaging segment is anticipated to gain a noticeable market share due to its durability and aesthetic looks.
  • In the product type, Face creams and moisturizer products are anticipated to dominate the market. The significant factors for this rising demand can be attributed to its instant hydration in skin and easy-to-apply feature. Most working age groups need more while getting ready for their offices, raising the demand for these products in the market.
  • During the forecast period, North America is projected to dominate the Skin care products market owing to rising geriatric population. Increasing awareness for side effects in chemical skin products further made a space for new organic skin care products market in the last few years.
  • Asia-Pacific is expected to witness a high CAGR growth due to increasing disposable incomes and product innovations in developing countries.

Polaris Market Research has segmented the Skin Care Products Market report based on product, packaging, distribution channel and region:

Skin Care Products Market, Product Outlook (Revenue - USD Billion, 2019 - 2032)

  • Cleansers & Face Wash
  • Body Creams & Moisturizers
  • Face Creams & Moisturizers
  • Sunscreen
  • Shaving Lotions & Creams
  • Others

Skin Care Products Market, Packaging Outlook (Revenue - USD Billion, 2019 - 2032)

  • Tube
  • Bottle
  • Jar
  • Others

Skin Care Products Market, Distribution channel Outlook (Revenue - USD Billion, 2019- 2032)

  • Cosmetic Stores
  • Convenience Stores
  • Pharmacy & Drugstore
  • Supermarkets & Hypermarkets
  • Online
  • Others

Skin Care Products Market, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa