Stringent regulations promoting the use of organic materials in the skin care industry is likely to propel market growth.
The Global Skin Care Products Market is projected to reach USD 177.15 billion by 2024, according to a new report by Grand View Research, Inc.
Rising awareness about different advantages of personal care products has resulted in increased demand over the past few years. Organic and natural personal care products have become a major segment in the cosmetics and wellness market. Rising awareness about the harmful effects of synthetic products has led to the increasing demand of organic care products. This rising demand has led manufacturers to focus more on R&D and product innovation.
The levels of accessibility of both synthetic and organic products have also increased over the past few years owing to the widening of distribution networks of manufacturers and suppliers. In addition, the rise of online market platforms, where consumers can purchase a wide range of products from any part of the world, has been one of the primary reasons for the increase in accessibility.
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The skin care products value chain consists of raw material suppliers, skin care product manufacturers, distribution channels, and end-use industries. Raw materials for synthetic skin care products include various colorants, skin conditioning agents and surfactants. BASF, Antaria and Canton Chem, Inc. are few leading manufacturers of raw materials used in the production of skin care products.
Asia Pacific was the largest market for these products in 2015. The increase in the disposable incomes of consumers, coupled with the increasing demand for organic products, is expected to drive industry growth in the region. In countries such as India and China, the growing demand for skin care products can be attributed to the rapidly-growing population.
Top Players of Skin Care Products Market:
Some of the key companies present in the market are L'Oréal S.A., Unilever PLC, Beiseidorf AG, Colgate Palmolive, Estee Lauder, Johnson & Johnson, and Avon Product Inc.
Market Segmentation of Skin Care Products Market:
The Global Skin Care Products Market on the basis of Product and Region.
By Product:
Face cream
Skin brightening cream
Anti-Ageing cream
Sun protection cream
Body lotion
Mass body care lotion
Premium body care lotion
By Region:
North America
Europe
Asia Pacific
Rest of the World
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