According to Verified Market Research, Global Skin Care Products Market was valued at USD 134,700 Million in 2020 which is projected to reach USD 188,240 Million by 2027 at a CAGR of 4.8% from 2020 to 2027.
Medical skin care products are used to improve the appearance of the skin or to treat certain skin conditions. The cosmetics industry is booming and skin care is an important part of it. People are so concerned about their appearance that they spend a lot of money on skin care products and treatments. People are becoming more and more technologically aware of the various new skin care products that are currently available in the market.
Increase awareness of personal grooming among all age groups to increase demand. The need for skin nourishing products has grown due to growing concerns about skin nourishment caused by a variety of issues such as the increased occurrence of acne, blackheads, scars, dullness and of tanning. The younger demographic is more interested in skin lightening treatments, toners, and scrubs, while the older demographic is more interested in products that treat wrinkles or cracked heels.
Excessive and improper use can damage cells and impede growth due to regular use of cosmetic products for an extended period of time can damage the skin, causing irritation, redness, burning sensations, discoloration and aging of the skin. skin cells. Some skin-nourishing products are designed specifically for certain skin types, such as dry or oily skin.
Impact of COVID-19
Companies are struggling to physically see their channel partners and finalize business deals due to COVID-19 lockdown restrictions in several countries around the world. Companies’ product revenues are affected. In addition, issues such as the closure of beauty retail establishments and cosmetics companies, as well as a lack of raw material supply due to the strict restrictions, can significantly reduce the pace of consumption of products among the world’s population.
The global skin care products market is segmented into gender, product, distribution channel, and growth system. By gender such as Female, Male. Further, the market is segmented into by-products such as Face Creams & Moisturizers, Facial Cleansers & Cleansers, Sunscreen, Body Creams & Moisturizers, Shaving Lotions & Creams, Others. By distribution channel such as supermarkets and hypermarkets, convenience stores, pharmacies and pharmacies, online, others.
The global skin care products market is segmented into five regions such as North America, Latin America, Europe, Asia-Pacific, Middle East & Africa. Asia-Pacific holds the largest market share and is expected to lead the market over the forecast period. With rising living standards, growing working population and increasing purchasing power of people in the region, Asia-Pacific is expected to hold a substantial proportion. According to a FMCG report released in May 2018 by THE India Brand Equity Foundation, overall consumer spending in India was USD 1.595 billion in 2016 and is expected to reach around USD 3.6 trillion by 2020.
Various key players are listed in this report such as L’Oreal SA, Beiersdorf AG, Shiseido Co., Ltd., Procter & Gamble (P&G), Unilever, Johnson & Johnson, Inc., Avon Products, Inc., Coty Inc. ., Colgate-Palmolive Company, Revlon
By distribution channel
Middle East and Africa
Key questions addressed by the report
What are the key opportunities in the global skin care products market?
What will be the growth rate from 2020 to 2027?
Which segment/region will experience the highest growth?
What are the factors that will impact/driving the market?
What is the competitive landscape in the industry?
What is the role of key players in the value chain?
For more information on this report, visit https://www.researchandmarkets.com/r/l2t7q2.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220425005802/en/
Laura Wood, Senior Press Officer
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